The comet. (Johnson City, Tenn.) 1884-1916, 1898-08-25

|
the present management of the road
have been in control.
1t is said with confidence that the
Ohio River and Charleston road has
excellent credit. 1t pays its employees
and bills as promptly as any Of its COM
petitors. The road is owned at pres
ent by people who are financially
strong enough to take care of it, who
have confidence enough in the proper
ty and the country it penetrates to be
willing not only to use the earnings of
the road in improving the line but to
expend large sums in addition to their
original investments.
This confirms the suggestion that we
have stated in another place that the
Parsons are after the o. r. & G. road.
This however, is quite problematicaI.
1t would rather be expected that the 0.
r. & G. would make some contract
with the SC. & g., by which it could
run into Charleston.
The Parsons, who own the s. G. &
G., are recognized among the largest
capitalists in the country, though the
people behind the 0. R. & G. are quite
as able to buy out the S. G / G., as the
). G. u G. are to buy them out. AS to
the people who own the o. r. & G.
road, this is the best information we
have been able to obtain. They are
not railroad people. They bought very
largely the bonds of the old company,
that is the G. @. & G. When that road
was sold they were compelled to buy
in the property to protect their in
terests The people most largely in
terested are two or three trust compa-
nies and financial institutions in the
city of Philadelphia, and the largest
owners of the property are corporations
of large assets and credit, and who
have great trust and confidence in Mr..
Hunt, the present president of the COM
pany.
The question of the O. r. 4 G. rail
way being extended from Gaffney court
house to this city has evoked much dis
cussion, pro and con. The action of
the city council in voting the $25, 900
per cent. bonds originally intended for
the road to Henrietta, for the purpose
of securing the o. r. & G. road, is an
other significant fact that seems to
meet the popular approval of represen-
ia tive business men Of the city.
Yesterday afternoon President J. B.
Lilies, OF the Fingerville Manufactur-
ing Company, was seen at his Office by
the reporter, to whom he talked inter-
estingly in favor Of the extension Of
the o. r. & G. read to this CITY, Among
other things, he stated:
SIN my opinion the o. r. & G. is q
most valuable connection for Spartan
burg to secure. Viewed merely from
the standpoint of expenditure Of capi-
, tai this is self-evIdent; for this road
will be asked to expend ten or twenty
, times the amount the city donates for
their coming here and am heartily in
favor of the city's donation of the $25,
600 per cent. bonds, which we're in
tended for the Rutherfordton line di-
, rect; for the reason that the principal
amount of freight from this Henrietta
line would have been pine wood and
the section of country through which
I this road would have extended is thin.
ly settled and offers but small amount
, of freight.
: Continuing, Mr.. Lilies said, 'I feel
partial to the o. R. G. road on account
| of the direct benefit this section has al.
l ready derived from its coming to Gaff:
2 ney. Prior to its reaching that point,
/ the rate North on the shipments Of cot
$ ton mill products from this section was
3 60c per hundred pounds. This was al
SO the rate charged from Gaffney. The
; o. r. & G, road Immediately gave {
t rate from Gaffney for this class o.
b freight at 4s cents per hundred pounds
which is a saving to manufacturers o
nearly 20 per cent. 1t seems that thi
? cut made an impression on the road
!. that operate through this city; the rea
l. son being presumable the fact that sev