The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-01-02
THE YEAR WITH THE RAILROADS.

THE YEAR WITH THE RAILROADS.
There is no better way TO ascertain the
state of health of the commerce of the
country than to put the finger upon It's
great arteries, the railroads. At the pres
ent time they are puisating with excep-
tional strength and regularity; the streams
Of traffic flowing through them are full and
rich. How long viii this condition be
sustained? A dozen presidents of leading
systems and lines were interviewed a few
days ago by a New York newspaper upon
the past year 1899 with the railroads, and
the outlook for the new year. Without ex-
ception they declared the past year to
have been one of great activity in all of
the branches of railroading of large earn
ings and of some profit. But the profts
have not kept step with the increased
volume of business done. This is ex-
plaired by the great advance in the price
of everything that the railroad has to buy
in the way of material and equipment
without corresponding increase in the
charges made by the roads for their sery-
ices. Nevertheless the roads find them
selves in a much better position than they
were in only a few years ago. In 1893
nearly if not quite one-third of the rail-
road mileage in the United States was
bankrupt and in the hands of receivers
while the system that was able to pay div
idends was almost a financial freak so
uncommon was it. The past year saw all
of the important lines rehabiltated. new
systems formed and great stretches of new
trackage constructed or placed under con-
struction. And so great was the volume of
business offering that additional rolling
stock in large quantities was made i'm
perauvely necessary.
As to the outlook President Galway
of the New York Central, President Fish
of the Illinois Central. President Truesd1le
of the Delaware, Lackawanna and West
ern, President Fink of the Norfolk and
Western, President Spencer of the South
ern, and others, agree that there is every
reason for the greatest cheerfuness.
President Galloway says there is enough
business in sight to insure prosperous con-
ditions 10 the railroads for two or three
years to come, barring the unforeseen.
And this opinion is shared by most of the
others. They all, however. expect the
present period of prosperity TO be succeed
ed by one of depression. Realizing that
there must, in the very nature of things,
be a reaction, they are looking forward to
discounting 1t much may be posi-
BILE. The thing they most fear in the near
future however is adverse legislat ton. A
bill Is now pending in the Senate drafted
by the Interstate Commerce Commission
and introduced by Senator Cullom the
purpose of which is to give the commits
sion still greater powers. Should this bill
be passed. says President Fink, ''it would
largely deprive the railroads of the pro-
lection of the courts. Its effect would be
disastrous. This Is the one cloud upon
the horizon" The material advance in
rates which has been agreed upon, it is
believed will make the year 1900 one of
the most prosperous in American railroad
history.
Future developments of great railroad
systems, according to Mr.. Coppell, of the
Denver and Rio Grande-and this opinion
should be noted with interest by Savan-
nah-will be largely at the ends of the
lines, rather than in the feeders. Greater
badly. The terminal facilities now avail
able are wholly inadequate to the proper
dispatch of business. Six weeks ago there
was car famine, for the reason that
thousands of cars had to be held on the
sidetracks to do duty as warehouses, there
being no terminal warehouse room into
which to unload them and thus get them
back into their legitimate business as car
riers. With proper terminals, the country
now has cars enough to handle a very
large increase upon Che present volume of
traffic. The time is rapidly coming, there
fore, when the cities with the best term
inals will draw the greatest amount or
freight. And in that particular Savannah
will stand pre-eminent in the South Be
fore the beginning of the new century her
present superb facilities will have been
almost doubled, and she will have wharf,
dock and warehouse room to meet any de-
mand which may arise.