The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1899-05-10
Experts View Of
Railroad Deal.

Railroad Deal.
What New York Financial
Chronicle Says of South
ern's Purchase.
The New York Financial Chronicle says of
the control of tie South Carolina and Geor'
gia railroad by the Southern:
The lease of the South Carolina 4 Georgia
Railroad {old South Carolina rsilroad) to the
Southern railway, entered into last week, is
an event of importance for number Of res-
sous In the 6rst place it emphasizes the
tendency towards the absorption of the small
er roads BY the larger systems, to which ne
referred in special article 10 our Issue OF
April Is. In the second place it shows that
the Southern management are still enter.
prisiug and wide awake, for there can be no
donbt that the South Carolina l. Georgia is
a desirable acquisition, indeed, in some res
pects, as we shall presently show, 1t vas ao-
solute!y essential to the Southern railway.
Finally, the change means great deal for
Charleston and the State Of South Carolina.
TIE South Carolina l. Georgia has had q
checkered career. Once very prosperous
road, 10 recent years misfortune after misfor-
tune has attended it. When the Parsons
people bought it at foreclosure sale, few
years ago, it became evident that sooner or
later there would be another move in the
game, for these people would buy only to
sell. It has long been wonder that road
90 eligiely situated and occupying such
commanding position on the South Atlantic
seabosrd should remain under Independent
control. That its strategic value was appre-
ciated was made obvious before the recent
foreclosure, when the Louisville k Nashville
invested large sum in the securities Of the
old company. But the hard times came then,
and it was not deemed advisable to prosecute
the venture aoy further; so the Louisville 4
Nashville suffered the loss Of the whole of it's
investment in the property, amounting to
over million dollars. Nor did the South
ern railwsy.or any of the other systems make
any effort ct that time to get possession. De-
spite its advantageous locstion Mr. Parsons
was not successful in adding greatly to its
earning capacity, and it almost seemed as if
this sagacious operator, who had been 80
successful in other similar ventures, might
have difficulty 10 finding some one to take
this property of his hands.
Bat recently importan. changes have been
going on in the railroad map of that part OF
the country, and the owners of the South
Carolina l. Georgia have not been slow to
avail themselves OF their opportunity. Thus
the Seabosrd Air Line changed ownership
aud passed into the possession of the parties
controlling The Georgia and Alabama and
the Florida Central and .Peninsular, and
grand consolidation of these roads ie planned.
The Atlantic Coast Line people have also
been showing great sggressiveness. They
acquired the Charleston l. Western Carolina.
Then, to soiidify control of their system they
lina and made similar cancellations in other
states They alsc, have plaas for the build
ing of various pieces of road to nake their
confederation harmonious and complete.
The situation now became intesestig for the
Southern railway. The Louisville ard Nash
vile could afford to be an onlooker, for it,
has little mileage in that part Of the country.
Not so With the Southern whose lines grid.
iron that section. With new combinations
being formed all around it, it was in danger
of being hemmed in. It will be remembered
that the announcement was made recently
that owing to the change of the ownership
of the Florida Central l. Peninsular the
Southern had determined to build new line
into Savannsh from Columbia, S. G, or
Augusta, Ga. But it behooved the Southern
people to guard against dasger from another
direction. Its lines in South Carolina could
reach the seaboard at Charleston by only one
Of two routes, namely the Atlantic Coast
Line or the South Carolina 4 Georgia. The
Coast Line was rival, the South Carolina 4
Georgia was still available; bot suppose, it,
too, should be bought up in the interest Of
one OF the neighboring combinatiops2 Tue
Southern railway people were quick to see
the logic of events, and before outsiders had
the slightest idea of what was going on, the
lease had been made aod the Southern Rail-
way was securely in possession.
The errangemeot seems to have given gen.
eral satisfaction, and there caa be no doubt
thas it will prove mutually advantageous to
the contracting parties. The people of
Charleston also seem to be grati6ed, and well
they may be, for they get what they have SO
long desred-uamely, connections With the
Ohio asd Mississippi rivers through the rich
coal and iron delds of the south With its
affiliated lines the Southern controls about
eight Thousand miles Of road, much of which
will in q measure become tributary to
Charleston. There does not seem to be the
slightest inclination to think the process of
consolidation will be harmful, which is
rather significant, as showing that the peo-
pie of Souta Carolina appreciate thu benefits
IN store for them The Charleston N5ws and
Courier we'll says. it pays the railroads to
central:zs, aud, what is of n Ore concern, it
pays the pubic 10 have centralized roade.
Through rates are lower than joint rates, and
eetter service aud more direct connections are
assured by through lines. Moreover, the
wealthier the corporation the better it can
equip the road and the better the service
can be.
CAMP DICK ANDERSON, U.C v.
rnbo Ua<araps Uho Will Atfap6