The times. [volume] (Richmond, Va.) 1890-1903, 1896-09-02

An OmciaI Statement of tho Current Posi-
ton of the Road.

Messrs. John L. Williams Sons. OF
Richmond In a circular on tho Georgia &
Alabama Railway. says. ''lhe first prefer
ence bonds represent an underlying indeol-
odness Of about s. CO.. per mile on the road
the net earnings OF which amount TO iosg
times the interest charges on the bonus,
This compauv took possession Of the oiu
Savannah. Americas 81 Montgomery roau
in August 1885, and has since acquired COLI
troll OF various branches and made IL per-
psrlsl lease. which gives the company en-
trance INTO savannah establishing
trunk line from Montgomery. Ala, 10
Savannah $40 miles. For ten months
the earnings of 2sb miles, mo average
operated, have boon s5i4So, and the net
Sl6l.6OZ Interest OF the preference Donde
outstanding amounts 70 only about $0ON
"a month The line is exceedingly direci,
is laid with steel. has iron and steel
bridges, and with the completion or I'M
prOvtmeuts under way the maximum
grade will be about 1 81 per cent.
Largo sums of money were provided in
the reorganization OF tho road for the
purpose Of improving the property and
bringing il uD 20 the highest possible
standard. Tile wisdom OF these exUendi-
lures rs already being shown in the re-
duccl cost OF operation and In the IN
creased facilities provided for The hanil-
ing of its growing business. The line
from MONTGOMERY 90 Lyons. 2iJ miles. is
laid with C0-pouud steel rails. from Lyons
90 Savannah, 20 miles with 53-pound rails
and heavier. The Fritzgorald Branch,
p miles is laid with 55-pound steel rails.
The Georgia & Alabama Railway occu-
pies strong strategic position. To not
only forms part OF the shortest line %
Savannah. rho most important port on
the South Atlantic coast. from the most
important cities OF the South, including
Atlanta, Columbus. Alacpn, and
Albany. Ca. Birmingham and
Mobile, Ala. and New Orleans
but as these laces are recog-
nized as gate cities" Of the South. and
an traffic going from Savannah 10 the
West and Northwest must necessarily
pass through ono OF these points, IL fol-
lows that this route = not only the
shortest by between 20 and 80 miles be-
tween Montgomery and Savannah, but IS.
moreover. part Of tho shortest line frors
the entire West and Northwest TO the
ocean at Savannah. The G.. & a. Rail-
way, I'm connection with the Southern
hallway. with which IL connects az Hell
ena. 10 miles from Savannah, forms 4
line "a miles shorter than the main stem
~ the Central OF Georgia Railway be-
tween Atlanta and savannah. II the net
earnings Of the O.. & 4. Railway, the
shortest line. should only amount 10 40
per cent OF what the net earnings OF the
Contra. oil Georgia Railway, between At
lante and Savannah. have averaged for
some years PAST, the C.. q \. Railway
would be able TO pay 6 per cent. dividends
on its preferred stock after providing for
all of its interest charges.
The Georgia and Alabama pass s
through a region Of unusual productive
ness and fertility. on its eastern division
the lumber and naval stores interests are
extensive aud profitable The line then
continues westwarily through a region
noted for It's fertility. Besides its large
local business. which IS remunerative and
increasing the railway IS developing inn
portant through business from Norfolk.
Baltimore New York and New England.
via the several steamship lines which run
10 Savannah from these points, 10 various
points I'm the interior OF the South and
In the South. Southwest and West. The
nearest Atlantic port 20 Birmingham. the
mining and industrial centre OF the South.
= Savannah. which Is al the same time
the largest and most important OF all OF
the Southern ports between Baltimore and
New Orleans. and the Georgia and Ala
bama railway furnishes the shortest and
mast direct route from Birmingham to
Savannah.
The circular adds: steps are being
taken 20 secure FOR savannah fair pro-
portion OF tie grain trade which IL now
passing through the port OF New orleans.
much OF which could be handled TO equal. il
not better, advantages through Savannah.
on account OF the great saving In distance
which this route would effect vessels
thereby being saved the long journey
through the Gulf OF Mexico and around the
Florida Keys."-Nsw York Journal OF Com
merce.