The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-12-22
record 50 that IL can continue to Issue
bonds at its pleasure.


bonds at its pleasure.
THE PEOPLE ARE INTERESTED.
1t In a great mistake IL any man
thinks this is only a fight between the
| Southern and the Seaboard. II Is far
more. 1t is a light between the South
ern and the people. II he Southern
defeats the Seaboard system. IL de-
feats the only efficient competitor now
left in the state.
The people have no real interest In
the Seaboard system. except as a
means to ecure competition. As such
means. they ave the greatest inter
est In preventing the Southern from
throttling it and defeating competi-
ton.
The people understand this clearly.
and il is to this hat we owe much OF
the patronage we have received.
The people OF Georgia, / am quite
sure. will deplore the passage Of this
act. which will destroy the ability Of
the Seaboard to carry through its re
organization, and so destroy competi-
ton.
SOME HISTORY.
The Seaboard Air Line has been per-
sistentiy fought by competitors from
Its inception. The Southern Railway
and STEAMSHIP Association endeavored
to shut ii out from doing business with
other inc and forced il n litigation
TO maintain its rights. Next a boycott
was brought on against it. hen the
litigations in Georgia, South Carolina
and Virginia, known as the rate war
cases. were instigated against ii.
Presumably the allies of our competi-
tors e~ndeavored to buy up our capital
stock, and plunged us into a series of
litigations. When now il sees the Sea
board Air Line about to form a system
which can effectively compete with il.
ii is endeavoring through the legisla-
ture of Georgia to pass an act which
will effectually prevent this consolida-
ton, although such consolidation is of
roads which are in every nom
competitive, and which does not in
fringe any provision of the constitu-
ton or he laws of Georgia.
TOO MANY RAILROADS"
The people have another great inter
est in the defeat OF this act. Ii is said
to be a favorite statement of our COM
petittors that there are already too
many roads. This bill will defeat the
building of any more.
L do not believe that the people Of
Georgia wish to stop railroad building
in the state.
But if this bill passes. who can raise
on bonds the money TO build a new
road, on a bill which it hidebound as
to amount; which efficiently prevents
the sale of bonds below par-and pre-
vents the borrower from meeting the
views of the men furnishing the mon
ey, as to capitalization. Alabama,
Florida, Tennessee, the Carolinas and
Virginia have no such laws, and yet
capital is expected to come to Georgia
rather than to those states. 1t Will not
do it. We of the south nave to go
elsewhere to get money to build rail-
roads, and we must be able to meet
the lenders wishes or no money can
be had.
PROJECTED BUILDING.
The Atlanta, Knoxville and Northern
has been contemplating building to
Atlanta; the East and West from Car
tersville to Gainesville, and West
Birmingham. The Chattanooga, Rome
and Southern from Carrollton to La
Grange, and probably to Columbus. A
party is in the field between Athens
and Augusta, surveying hat part of
the line of a new company proposing
to build from Athens to Augusta and
possibly Chattanooga. All this will be
dead if ais bill becomes a law.
1t is surely of great interest to the
state that this bill should be killed.
/ do not believe when the legislature
understands this bill and it's purposes,
that it will pass it. / am satisfied that
it only got through the senate because
of the fact that no attention has been
called to it's perniciouS tendencies, and
/ appeal not alone to the Legislature
but to the people of Georgia to defeat
this hurtfUl legislation.
e. ST. JOHN,
Vice. Pres. and Gen'l M'g'r.
Pot smouth, Va, Dec. IA, 1893.