The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-06-21
THE BONDS TAKE A JUMP.
GEORGIA SOUTHERN SECURITIES on
THE UPWARD MOVE.

Fhe soufhcrn's Big Purchase seems
10 Have Had "A Good ERect-Chnir-
man smart says the Road l. To BE
Operated as an Independent Line.
A Meeting for the Election of Di-
rectors 10 he Held Next Week.-Mrs.
of the Probable Combination 90
Big southern Railway systems On
the Increase.
ar H. i. Smart. the chairman OF the
reorganization committee of the Georgia
Southern and Florida railroad, is back
from Baltimore. where he has been 10
attend q meeting of those interested in
the property ana its officers. held for the
purpose Of eicctlng officers TO serve until
OCT. !. when the annual election will take
pace.
ar. Smart said yesterday that the
Southern Railway Company has acquired
possession Of about Sl510Oo0 of the GER
tincates representing The bonds which
have been deposited with the committee.
The Southern, he states, cannot take
charge until after Oct. J. at which time
fl viii have the power TO elect its own
officers and board Of directors. President
Spencer. who was at the meeting. 8Ir.
Smart says took very fair and just po-
sition throughout. and merely made one
or two suggestions with regard TO the di-
rectory. while he was ready to accept
suggestions from members Of the com
mittee.
MIR. Spencer suggested that the South
ern being the owner of so large num-
Der of the bonds should have some repre-
sentation on the board Of directors, which
was readily acceded to, he and Vice Pres
ident Andrews being put on the ticket
The meeting at which the election Of lii
rectors and officers viii be held takes
place next Wednesday in Baltimore.
Mr.. Smart will leave next Tuesday for
Baltimore for the purpose of attending
it. He says it has been announced by
President Spencer as the intention of the
Southern to operate the Georgia Southern
and Florida as a separate property alto
gether, and that il will have a separate
board Of directors and management.
The bonds of the Georgia Southern seem
to have taken quite squirt in the last few
days, and the influence Of the Southern's
action in getting control of the property
seems to have been a good one The
Southern bought the bonds all the way
from 50 up TO SO, the latter being the
highest price paid for any of them. Since
it has become known, however, that the
Southern was in control of the property,
the bonds have gone up to 102, and are
holding their own very well.
Railroad men everywhere seem to be
talking Of these movements of the South
ern and pointing significantly to the fact
that 1t is endeavoring to extend its terri
tory in every direction. The opinion that
a combination of all the big railroad sys-
TENS Of the south is in view. and that
It is being backed by the Southern Rail-
way Company seems to be grow
ing. 1t is talked Of not only in
Savannah, but in other places. and the
opinion everywhere is that the indications
bear out the statement that the Southern
IS back of some such movement.
The business men and wholesale dealers
seem to view such a movement with much
favor. One Of them said, in speaking of the
report:
II believe the indications point to the
fact that something on that line is being
done, and l believe it will be a good thing
for the south, when combination of all
the big railroad system of the south has
been brought about. 1t will put us all on
the same basis then, as 1t viii stop all
rate cutting, and no man Will be under
the impression all the time that his neigh
Dor is getting the advantage Of him in the
matter of freight rates i think it would
help business in that it would make prices
more stable, and we would know just
where we stand, instead of having to be
on the continual lookout to keep our neigh
bors from getting the best of US.