The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-03-06
AUGUSTA SoUTHERNs LEASE.
MIR. GEORGE PARSONS TALKS OF
THE CONTRACT.

Will BE for the Mutual Benefit of
Both the Augusta Southern and the
South Carolina and GeOrRia-The
Combination of the City Electric
Lines, He Says, Is stiII in a TRANSIT
ton State-He Thinks 1t Would he
a Good Thing, as Savannah Now
Has Too Many Lines.
Mr.. George Parsons, the well known
New York capitalist, who has large inter-
ests in this section of the south and in
Savannah, is at the De Soto.
Mr.. Parsons, as is well known, is large
ly interested in the South Carolina and
Georgia railroad, much of the recent de-
velopment of which has been due to his
capital. He was asked yesterday about
the recent contract or lease of the Augusta
Southern by the South Carolina and Geor-
gia.
Il don't know that there is very much
to say about it at present" Mr.. Parsons
!, said. ''The contract was made recently
in New York, and though was not there
at the time, l have information that the
Augusta Southern has been leased. They
have wanted to form an alliance with our
road for some time, and 1 think under the
circumstances, it will be of mutual in
terest to both"
rs 1t in connection with these two rail-
roads that the proposed new line of river
steamers will rum" Mr.. Parsons was
asked.
Not that know Of" Mr.. Parsons re-
piled. Il see something in your paper
about a proposed new line of river
steamers, but why they want to put it on
do not know. You already have one line.
and good railroad between Savannah and
Augusta. So far as 1 know we have moth
ing whatever to do with this movement.
and 1 know nothing whatever about it.
We certainly have not contemplated put
ting on new line in connection with our
road"
This seems to entirely contradict the re-
port that the proposed new line of steam
ers was to be put on by these combined
railroads. Just how it originated Mr..
Parsons said he did not know, and only
that he knew nothing of 1t.
Has anything further been done look
ing to combination of the two street rail-
road systems of the city. the City and Su
burban and the Savannah Traction Com
pany property? Mr.. Parsons was asked.
The matter is still in a transition state.
ne said, land in fact there is nothing def
mite that can be said about il now There
is no doubt that it would be a good thing
Tor Savannah, as well as for the railroad
companies to get together on some agree
able basis, but this has not been accom-
pllshed as yet. AS matter of fact TAX
ing into consideration the size of the two
cities, Savannah has more street rail-
road lines than New York, and a good
many more than it needs. In New York
you ind the parallel railroad lines run
ming from 800 to 1900 feet a part, while
here they are from 300 to 500 feet apart. 1t
Is hard to say just what will be done in
the matter, but hope to see in time a
satisfactory solution of the problem
With regard to the Augusta Southern
railroad 1t may be said that it gives the
South Carolina and Georgia a splendid ter
rltory to draw from, extending as it does
from Augusta, through Sandersville, to
a connection with the Central of Georgia
at Tennille, a distance of eighty-four miles.
Under the lease, as stated in the Morn
ing News, the South Carolina and
Georgia road agrees to pay the interest on
100000 first mortgage bonds of the lessor
company, which were issued at the rate of
A,TOO per mile The acquisition of this
road will enable the South Carolina and
Georgia road to control considerable traffic
which has heretofore been diverted to
other lines and will necessarily increase
the business of Charleston. The state
ment for eight months to Feb 2S, 1897
February partially estimated) shows gross
earnings of 1861, 733; expenditures S495. Ss1.
and net earnings 1855, $50.