The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-12-08
ANNUAL MEETING OF G. & A.
FIRST MEETING OF THE STOCK
HOLDERS HELD IN SAVANNAH.

I'r osident John ssscIton williams
Presided-LarGe Representation of
Directors ON HRnd-0nIy One
Change in the Board Was Made,
Mr.. Fisk of Montgomery Succeed
cd Mr.. Brown of BaItimOre-same
Officers Were Re-eIected-G. d A.
Five Per Cents Being FIOated-
Road Is in Splendid Condition
and Has n Bright Future.
The annual meeting of the stockholders
Of the Georgia and Alabama Railroad was
held yesterday morning at the general
offices of the company in this city. Ii
was the first meeting that has been held
here as the legal headquarters OF the
company were but recently transferred
from Americas TO Savannah
The meeting was presided over by Presi-
cent John Shelton Williams of Richmond.
The other directors present were Messcs.
]. w. Middendorf of Baltimore, c. sgd
ney Shepard of New York. w. F. Cochran
Of Yonkers, \. Y, Joseph B. Hoist of Co
lumbus, James d. Stetson Of Macon, ].
W. Sheffield of Americas, Cecil Gabbett,
w W. Williamson, John Flannery, w. w.
MaclIall and c. B. Baldwin of Savannah.
The absentees were Mr.. Henry A. Parr
Of Baltimore, and Mr.. Ernst Tahlmann of
New York.
The same board of directors was re-
elected with one exception, Mr.. J. Wilcox
Brown OF Baltimore, who resigned His
place was filed by the election of Mr..
Fred b. Fisk Of Montgomery
meeting of the board of directors "as
held after the stockholders meeting, and
The old officers of the company were re-
elected. They are as follows:
President-John Shelton Williams.
Vice President-Cecil Gabbett
Second Vice President-J. w. Mdden-
dorf,
Secretary-W. w. Mackall.
TTeasurer-3ernard r. Guest,
The directors left last night for Bir-
mingham From there they viii so TO
Montgomery and then make their way
back eastward on their tour of inspection
of the road
The report of the President showed the
Georgia and Alabama to be in a most
excellent condition. ii has steadily pro-
crossed, and is now one of the best pay
ing lines of the South. The report dealt
with the recent undertaking of the road
with regard TO the establishment of ter
minaIs on Hntchinson@s Island. The Dir
rectors were greatly interested in the
plans as set forth in the report, and in
the Presidents discussion OF the advan-
tages that will accrue to he company from
the large investments that have been made
and are yet to follow,
The total bonded Indebtedness of the
road is only about $14,0O0 per mile. This
figure is reached by the late issue of $780,
Oo0 worth Of first mortgage consolidated
; per cent. fifty-year gold bonds, which
are now being hoated at their par value
of 500 and accrued interest Application
will be Immediately made 10 have these
bonds listed on the New York Stock Elk
change.
The Georgia and Alabama main line ex-
tends from Montgomery to Savannah,
distance of $40 miles. with branches TO
Columbus, Albany and Oeilla. making the
total mileage operated ass miles. This
mileage is all owned by the Georgia and
Alabama Railway, except IS miles betwe en-
Lyons and Meldrim, which is perpetually
leased; and II miles trackage from Mel
dFim to Savannah, but the Georgia and
Alabama is about to build its own line
from Meldrim to Savannah, abandoning
the present trackage arrangement.
Within the past few months parties act
ing in the interest of the Georgia and Ala
bama Railway have secured on the Sa-
vannah river, directly opposite the city
about d mile of water front and nearly
LOCO acres Of land, admirably suitable for
terminals
According 10 estimates carefully prepar-
ed by the traffic department, the possess
sion of Independent terminals at Savan-
nah, after the first year or so, may very
certainly be expected to largely increase
the company's net revenues. The termi-
A,. sa
der way, and will be completed by the
opening of the next cotton season.
The increase in the company's business
has been almost unprecedented, as is
shown by the following figures:
1SQ5 1897 1898