The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-10-08
The sale of The Central.

The Sale of the Central.
There is no longer any ground now for
doubling that the Central railroad sys-
TEN will be recognized. \ part Of the
system was sold last Saturday. the main
stem was sold yesterday. and other parts
of the system viii be sold within the next
few days. By Nov. l all the sales will
have been made and confirmed. and by
Jan. I, the new securities viii have been
issued and the new officers elected.
There is no occasion for again asking
who wrecked the Central. or for calling at
tention to the fact that by the wrecking Of
the property hundreds Of people. many OF
them widows and orphans. had their in
comes swept away. and that the hospitals
and asylums Of the city were reduced from
state Of comparative ahiuence to one
Of almost desttution.
What we have to do with now is the fu-
ture. 1t can do no good to mourn over
the past or to hold up to public execra-
ton those who are supposed to have so
mismanaged the property as to bankrupt
it.
to be? That is the question in which
many are concerned. The holders Of the
securities are concerned, and this city is
concerned, greatly concerned.
We have no doubt that the new COM
pany win be honestly managed, and that
it will be managed on business principles.
The policy win be to develop the earning
power of the property. and in pursuance
Of that policy only men who earn their
wages viii be retained in the company S
service. There will be no favoritism and
10 favors shown. Men will be paid what
they are worth and care will be taken to
secure those whose services are valuable.
There is no doubt that the property can
earn easily the fixed charges Of the new
company. That it can do this has been
demonstrated in the last two years. As
the territory tributary to the property is
developed, the company's earnings will in
crease. The outlook is that the tributary
territory will be developed steadily and
rapidly. The south is just now attracting
a great deal of attention. Especially is
this the case in respect to Georgia. Cap
italists and home-seekers are both regard
ing this section with great and grow
ing favor. We may reasonably expect,
therefore. that, under wise management,
the Central win show increased earnings
from year to year, and that within a
comparatively short period interest on the
first and second. and perhaps third in
fIe mill no ,ufT gp Oh,
be the case it will be convincing evidence
that the'property is being managed in the
interest Of the security holders, and Of
Georgia and Savannah.
As a matter of fact. we have never
given much weight TO the suggestion
that trade will be diverted from the Cen
trail and from Savannah to build up the
Southern Railway. That could not be
done without the fact becoming known
and if it should be done it would arouse
so much hostility to the Southern that
there would be adverse legislation, and
bitter war would be waged against all
the Southern's interests. 1t would be fol-
ly, therefore, to pursue a policy that
would do the Southern more harm than
good. Besides, why shouldn't there be the
same purpose to make the stock of the
Central valuable as there Is to make that
of the Southern valuable?
The announced policy is to operate the
Central so as TO make it earn all it can
and if that policy is adopted and adhered
to neither the holders of the Centrars Sc
curities nor the city of Savannah will
have any cause for finding fault with the
new company