Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-09-01
LEASE OF THE A. 4 D.
THE ROAD TRANSFERRED TO THE
SOUTHERN AT MIDNIGHT
FOR A TERN OF ElNE1Y-NIHE YEARS.
The Southern Now Has Track Into
Norfolk, and All the Lines Into
folk.


The southern railways 99-year lease OF
the Atlantic and Danville railroad was
confirmed az a meeting OF the stockhold-
ers OF the Southern, held al the Offices In
this city yesterday. and meeting Of the
Atlantic and Danvllle stockholders, held
in Norfolk
Nearly three months ago the Dispatch
announced that the road had been bought
or leased by the Southern. The fact was
| denied at that time. More recently the
/ Dispatch again published the fact Of lease
or sale. The report was confirmed at the
meeting yesterday.
MIR. Fairfax Harrison of Washington.
! solicitor for the Southern road, presided
at the meeting. A large majority OF the
stock was represented The confirmation
OF the lease was the only business trans
acted.
A number Of the general officers Of the
Southern from Washington went over the
Atlantic and Danville yesterday from
| Danville TO Norfolk. 1t is understood to
be the intention Of the leasing company
to put the Atlantic and DanyilIe in the
best possible condition at once.
ACTION OF THE A. & d.
a telegram to the Dispatch from Nor
folk last night concerning the transfer of
the Atlantic and Danville to the South
ern says:
las printed in the Dispatch some weeks
ago. the Atlantic and Danville railway
has been absorbed by the Southern sys-
TEN. The deal was formally consummated
II. lsalI
here at noon to-day. The lease, which is
for ninety-nine years. was, however, en-
tered into by Mr.. Is. Newgass, of Lon
| don. president of the Atlantic and Dan
Vile, and Mr.. Samuel Spencer. Of New
| York, president of the Southern, some
time ago The transaction amounts to
sale, but the figures are not obtainabie
The lease becomes effective at midnight
The Southern thus owns rails into this
city"
THE LEASED SYSTEM.
The Atlantic and DanWle. running
from Norfolk to Danville. is 215 miles in
length. A short line four miles i'm length,
from Virginia. va. south, has been COM
pleted The line was intended to reach
the copper mines in Halifax county. y.
c., and thence Columbia s. c. Work on
it has been suspended for some time
Since the purchase Of the main line by
the Southern there is thought TO be little
prospect of the completion Of the branch
line further than 10 the cOpper-mines, rs
the Southern already has a line 10 Col
umbia from the north.
SHUTS OUT COMPETITION.
BY the requirement Of the Atlantic and
| Danville the Southern has shut off all
railway competition so far as Danville
Is concerned. The Southern owns the
Danville and Western, running westward
e. Stuart Patrick county. This and the
Sou fern and Atlantic and Danville.
by controlling the Atlantic and Dam
Vile the Southern can reduce the distance
from Norfolk TO Greensboro, n. -, and
other southern points about eighteen
miles. From Norfolk TO points north or
Danvile the distance will also be great
ly reduced.
The Southern has within the past year
acquired hundreds OF miles Of road, rep
resenting several systems. The annual
report of the Southern, just issued, shows
that the number Of miles of road ope-
rated had increased during the year end
ing June 80. 1889, from 5.23l.67 10 5,95S6S
miles. The lease Of the Atlantic and Dam
Vile makes the total length Of track con-
trolled by the Southern upwards Of coo
miles.
a GOOD Ear = Si1Oh NJ.
The report of the Southern referred to-
shows that the gross earnings Of the road
during the year increased A2j7A7.32,
having been 81 O95. $3.50 in 1898 and So
3j3,6S6O7 for the fiscal year just closed.
These amounts will probably prove very
satisfactory TO the stockholders, for, al
though the operating expenses naturally
increased with the increase in transpOr-
tation. the net earnings last year were
1881 5000. which is an advance OF 81 49,
1868 over the previous year.
THE SOUTHERNS NEW CARS
The MANAGEMENT has not been derelict
in providing new equipment for the trans
pOrtation of merchandise and the accom-
mediation of passengers. The sum OF
S797. 32976 was expended for new equip
ment, including. among other things, l,2SS
freight-cars, six passenger-cars, and fif-
teen locomotives. The magnitude Of the
Southern and the vast amount OF capital
invested are shown by its ownership OF
764 locomotives, GS2 passenger-cars, 23,sl2
freight-cars, and 44G cars used solely FOR
the road service The company has con-
tracts for the delivery during September
Of q engines, 10 frst-class passenger
coaches, LOO freight-cars, and consider
able other rolling stock.
During the fiscal year the Southern
moved ia, 36} United states troops. AL
though frequently very short notice was
giycn. none of this business was lost
on account of failure to provide equip
ment. Sixteen national military camps,
at which were assembled 1862 men,,
were located ON or adjacent tosthe com
pany's lines.
DEVELOPMENT ALONG THE LINE.
The development of manufacturing in
terests along the line of the Southern
continues 10 be very marked. The great
est activity is IN connection with the
iron industry, and in the manufacture oil
textile fabrics, but there is also STEADY
growth in diversified manufactures, In
Guiding such articles as wagons. furni-
ture. agricultural implements, brick and
! tiles. glassware canned goods, ano
leather. The most important development
OF recent years. however, is the in
auguration on a large and substantial
scale of the manufacture of southern iron
into steel by the open-hearth or basic
process.
An excellent map, which depicts the
network OF roads In the Southern's sys-
tenn. with terminals in Washington, Nor
folk. Louisville. Memphis. Greenvlle. Mo-
bile. Brunswick. and Charleston, ). e.,
accompanies the report.