The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-07-04
IN TIE RAILROAD WORLD.
Waters of Interest in Savannah and
Elsewhere.

Elsewhere.
II Is raported that the Baltimore and
o,,i, raoreanization committee has pur-
chased the Baltimore and Ohio stock of
1is. Nary Garrett. who is the largest in
diri5u.I stockholGer. The amount is re-
rrts5 20 200 shares of common stock. The
kenmore committee is to oppose reOrgani-
lion untH after the United States courts
have PASSED on the Johns Hopkins Uni
,5rsirv suit which involves the rights of
preferred stockholders.
The Nashville, Chattanooga and st.
7onis is to issue $500, 900 of consolidated
r,ortgaee s per cent. gold bonds of 1888.
The company can issue $40, 900 per mile of
these bonds. They are secured on 740
miles of track The issue outstanding is
now only $5,9l3,O00.
The Southern's latest requirements have
been the Knoxville, Cumberland Gap and
Louisville Railroad, and the Virginia
Midland both by deed. The former eX-
tends from Knoxville TO Cumberland Gap,
a distance of sixty-three miles, with track
age rights over about five miles of the
Louisville and Nashville Railroad between
Cumberland Gap and Middlesborough, Ky.
The Virginia Midland, which the Southern
has heretofore operated by lease, COM
rrises about 1863 miles of road, of which
about 231 miles, from Alexandria to
Danvile, Is a portion of the Southern's
main line between Washington and Allan
ia.
The actual amount of new track laid in
1898 up to this writing is 1,1S1.6O miles. This
is more than has been laid in the first six
months of any year since 1892. The figures
TO June so for each of the six years are as
follows: To June 80, 1893, 1,014 miles; 1894,
525 miles; 1885. Gil miles. To June so, 1896,
1SS miles; 1897, 622 miles; 1898, 1,1S1 miles.
Such difficulties as were understood to
be standing in the way of the reorganiza-
ton Of the Baltimore and Ohio seem to
have been adjusted, and the plan which
has now been published appears to have
the Endorsement of all parties whose con-
sent should be necessary to success. The
amount of fixed charges under the plan
will be S6,252,351 annually, being a de-
crease of $1,5lS,760 a year. The net earn
inss for the year ending June 30, 1897, were
to have been sufficient to take care of the
charges on the new basis, with an appar-
ent margin of some 1910 600. The next earn
ings for the fiscal year which closed June
81, are estimated to have exceeded those of
l@ by about 81, 400 600.
The attorney general of Texas has be-
gun suit in the district court at Austin,
Tex, against the International and Great
Northern Railroad to recover $166 400 for
uon-compliance with the Texas state laws
winch require the presence of brakemen
on passenger trains 1t is charged that
rom Nay /, 1888, up to the date of bring
ing suit a period of 50 days, the road mas
Deh operating It's passenger trains with
Vu' any brakemen, the penalty being SEQ
per day The road operates 80 passenger
Trans per day in Texas and damages are
canned to the amount of SO, 200 per day,
beng 500 for each train.
There have from time to time been ru-
moIs that the Louisville and Nashville
was about to restore wages to the basis
IL loree before the cut of 1893 Coupled
NIA the rumors has occasionally been
sumo threatening talk of trouble" among
ue employees unless the restoration was
n'1e. lt was evident until this summer
m'C 'ae company would not be justified
u, lde'nS the extra burden, but with the
tguHaI Improvement in business the con-
UuohS nave changed sufficiently 10 war
Io.' '4e increase being made. On July l. a
p'Iu9i restoration went into effect, with
Iomise of complete restoration on Jan.