The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1897-12-31

Ats Mileage Increased by an Addition OF
Nearly $50 Miles5 by It's requirement eff
the Charleston & Western Car0ljns Rail.
road-Something About the New Pur.
chase
The New York Mail and Express of De-
cember 18th, says:
Mr.. Thomas F. Ryan today confirmed
the report that in with Gen.
Sam Thomas he had sold the Charleston
ana western Carolina railroad to the At
iantic Coast Line interests. Mr.. Ryan de-
ciined to discuss the price or terms of
the sale other than to say that both Gen.
eEal Ihomas and himself were entirely
out OF the property. From other sources
road to the Atlantic Coast Line has been
erected and the property will now be
merged into that system, thereby in
cTeaslng ITS mileage nearly $50 miles.
me acquisition of the Charleston and
western Carolina by the Atlantic Coast
Line Is a very important event in South
ern railway circles, for the reason that
besides opening up for it's new owners
a very valuable territory with much bus
mess. 1t has presented an object les
son In rapid and successful reOrganiza-
tlon on a basis unparalleled in American
railroad affairs. The present road is the
outcome of the absorption of the old
Fort Royal and Augusta and the Port
Royal and Augusta road, which was ac-
as and Ryan.
The two lines had valuable terminals at
Fort Royal, S. c., and their western
branches reached important points in
dangerous competitor for the Georgia
Central, by whom they had been built.
After the reorganization of the Georgia
Central the two lines were acquired by
Messrs. Thomas and Ryan, and steps
Were taken to reorganize them and place
them on a sound basis. Every security
or the companies gradually passed into
their hands,, and upon the formation of
the nes cOmD4nV a VQLr qpn and Gjnnn
that time they have enjoyed the une-
qualed distinction of owning outright an
important railroad nearly $50 miles long.
The financial condition of the property
snow first mortgage bonds amounting
to -, 700, 900, income bonds $1,000, 900, stock
$1,000, 600 and Augusta terminal bonds ag-
gresating $500, 900. The reorganization of
the property has been so successful that
1t now represents the exceptional charges
OF about $1,000 a mile. The property is
now paying 5 per cent. on a 5,00O,0 900 cap
The main line Of the Charleston and
Western Carolina extends from Port
Royal, S. c., to Augusta, Ca, with a
farther northern extension to Spartan
burg, S. c. Mr.. J. B. Cleveland, of Spar
tanburg, S. c., has been it's president,
and in addition to traffic originating on
it's own lines, it has traffi arrangement
with the Seaboard Air Line and it's new
owners. The Seaboard utilizes it to get
into Augusta and Charleston, but there
is little doubt that under the new owners
the same arrangements will prevail.
The road will also form an important
feeder for the Atlantic Coast Line, and it
may he necessary for the latter to do a
little building to make direct connec-
lions with the property. At present the
Atlantic line reaches the Charleston and
Western Carolina at Augusta, over the
South Carolina and Georgia from Den
mark, S. c., a distance Of fifty-seven
miles. A more direct connection is had
at Laurens, s.. c., by means of the Co
lumbi, Newberry and Laurens road,
which is operated by the Atlantic Coast
Line. Under the new arrangement the
Atlantic Coast Line will have four Al
1antic coast terminals-one at Norfolk,
Wilmington, Charleston and Port Royal.