The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-09-06
Annuity to the city of
Macon .................
5000 90
Total annual fixed
s1a4S 500 90


charges ............. $1,94S, 500 90
The foregoing does not include the bond
ed debt of the Ocean Steamship Company
of Savannah, on which the annual inter
est of $4,000 is paid by that company.
The Ocean Steamship Company and the
New England and Savannah Steamship
Company, the stocks of which companies
are owned entirely by this company own
eight large and valuable steamships ply
ing between Savannah and New York and
between Savannah and Boston. Owing,
however, to the charter to the government
of two steamers, the line to Boston has
been temporarily suspended. The Ocean
steamship Company Ownes besides Valua-
bic dock property at Hoboken, N. J., 347
acres of valuable terminal property in the
city of Savannah, covering with improve
ments recently made, about 1880 feet of
water front with extensive docks, ware
houses and cotton congresses, which con-
stitutes an invaluable adjunct to this COM
pany.
As shown by the balance sheet, the
company has no floating debt.
Besides the Improvement to the steam
ship properties considerable work has been
done upon the rail lines, the cost of which,
except that on the Middle Georgia and At
lantic Railroad, for which a bond issue of
$50 600 was provided in the purchase of
that property and referred to in the last
annual report, has been charged to operat-
ing expenses.
Among the more Important OF the Items
are:
Two steel bridges. one over Meldrim
avenue, Savannah, and the other at Mad
lson, Ga.
Two steel turn tables.
One narrow guage locomotive.
Five thousand tons of 80-pound steel rails
to replace lighter weight worn rails.
M. bOx Of s1c
capacity, equipped with automatic coup
lers air brakes and pressed steel trucks.
These cars nave been built in the COM
panys shops.
The filing of 5,1s3 feet Of trestling.
through some of which was constructed
brick arched culverts.
Eleven and thirteen one-hundredths
miles of additional side tracks, in which
are 80 spur and side tracks 10 accommodate
new industries
Extension of freight warehouse in sa-
vannah.
During the year a portion Of the COM
panys shops at Macon were destroyed by
fire. These have been replaced with more
extensive and improved structures and
have been equipped with more modern ma
chinery. In addition to which a new store
house, office building and oil house were
added TO the cOmpany's buildings at Ma
con.
In addition to the 5000 tons Of rails be-
fore eferred to $500 tons of S0-pound steel
rails have been purchased, and large por-
ton of them put in the track They will
be paid for from this years earnings
The physical condition of the property
has been very much improved. and it is
the policy of the company as it is the
necessity of the times, to keep up and
continue such work as it may be found
necessary.
The passenger traffic of this company
for the year, as also, doubtless, to some
extent it's freight business, was affected
by the yellow fever epidemic prevailing In
Louisiana and Mississippi during the past
summer.
The war with Spain for a time affected
business quite seriously but after the first
shock was over this was, at least to some
extent if not entirely, recovered by the
carrying of troops, munitions and supplies
for the government.
During this war upon ats urgent request,
we chartered to the government two OF
our steamers, the Gate City and the City
OF Macon, to be used as transports. The
war now being over, the steamers at this