The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-10-18
DOUBTFUL ABOUT THE DEAL.
DEFINITE NEWS MAY nv RECEIVED
FROM ATLANTA TO-DAY.

FROM ATLANTA TODAY.
The Central of Georgia an Interested
Party-Owns one-haIf of the can't
tai stock OF the Western Railway
of Alabama and a Biock of stock
of the Atlanta aud West Point.
Formerly owned Hntf of the Len-e
of the Georgia RniIrond. hut Lost
That During the ReceiVership.
President Egan in Atlanta To-day
90 Attend Annual Meeting Of West
crn of Alabama Halfway.
The report from Atlanta. published iu
yesterday M6rrinG Slows, OF a big rail-
road deaI Go De perfected there to-day by
which the Groran Railroad. the Atlanta
and Wet ra.ni ana the Western Rail
way az Alabama were 90 De- consolidated
into tho Georgia division % the Louisville
and Nashville Railroad with headquarters
az Atlanta. was read with interest here.
The tlrec pr0perues. or two % them az
least. Il 10, among she largest, are among
tho most desirable OF the railroads %
Gsorgla Tho Georgia Railroad is the old
,st in the state next 10 the Central ana
its stockhoider' have for many years en-
3oyed the pleasant privilege Of drawing
ten 20 eleven per cont annual dividends
as the result Of tte joint lease n The
property effected by tlo late William N
Wadlcy for the Central Iud Louisville and
Nashville Railways The latter
company attempted 90 SCOOP
the Contra ou lts interest
.saa. fa.fr fsTHE "a
Of 1895 when the Central Was ia the
hands 81 "a receiver and lowing 90 the un-
certain condition OF affairs was unable to
come up promptly with les share Of the
rental The rental was rendered later.
but the crtire rental had already been
paid hy President Smith VI the Louisville
and Nashville. who claimed that the Cen
.tra"s interest had laps,d. Dill 10 eluitj
was nlcd in tine United states Cour by
the Central. but later au agreement was
reached hy which the central reinquis Doe
its interest ia the lease 20 the lssuisvilie
aud Nashville and the latter turned over
the interest thus acquired to the Atlantic
Coast Line. The loss was not a serious
one for the Central. as Do had helped 90
pas The dividends which the road ha1
failed TO earn iu years and nad received
nothing 10 return. not even Ia the way Of
traffic
siderable interest In both the Western
Railway OF Alabama and the Atlanta and
Wess Point owning oue-haif 81 the 9.op1
shares OF stock OK the former and having
ISIS shares OF the stock 81 tine latter.
The Atlanta and West Point has just 49,
521 shares 81 stock. ana 81 this the Gsor-
En Railroad owns 4si5 shares and the
Georgia Railroad Bank $40 shares. the two
together holding something lesH than "a
aHa
OF 1855 shares a majority was formed.
which has heretofore controlled Tho man
agcmcut uf the road. The Georgia road
owns the other half OF the stock Of tho
Western Of Alabama. so that VIII be-
seen that the relations between the scv-
cral rolds interested are somewhat ntri-
cate
The reported deal was regarded wi h
considerable doubt here. President John
NJ EEan Of the Central was in Allan "a
20 attend enc annual meeting OF lnr
Western Of Alabama which lakee place
to-day. and here was no one IN author
ity TO speak on the mltter. Mr.. jos spa
Hun q director Of the Central. said he
knew nothing ~ the deal and doubted IN
correcneea Of tho report.
Capt 20 g. Cunningham Of the chief
counsel for the Central said he knew
nothing more o. tho reported deal tha
was rather inclined .o doubt the report
Tho aell would bc q lcri one from raj
road standpoint he SAID, and might pos
sibiy boz GO the interest 81 the Cent o.
10 would go. be such 100 easy matter a.
accomplish as the report would seem a.
inul,lIe. he s1ld OWING 60 The iuirl0a q
relations az the several roads to he prop
critics concerned
"The Atlanta and West Point is ore of
The most desirable pieces of railroad prop
erty lu tne state. -a,d Capt Cunning
hum ia IS only 70 81 miles in length. pu.
o. enjoy. "a lucrative business and has
always been a plyinE property. II has
no bonded Indebtedness. though &c has GER
rhcafce Of iudehtednoss outstanding Ga
the amount Of lts capital stock. These
however were issued TO- the stockholders
as o bonus outside OF the amo3uta ol
the stock held hy the Georgia and the
Central Railroads. the stock b distributed
among number % individual stockhoi'
crs and estates. some being held IN Sa-
yannah. The stockholders would have
60 be- consulted. apd SO would ice necessary
for considerable caEn to change hands
before the reported consolidation could
H. effected The Central would also have
80 be consulted as TO iis
half intcresi In the Western ~ Alabama.
but would doubtless bc willing 10 nc-
dept AN annual rental OF OF 6 per cent
on It's stock"
The action taken by the sgockhoidcrs
ana directors az the annual meeting OF
the Western Railway Of Alabama to-day
viii probably indicate whether or not
there a. uursfhffr la th. rnra~fs4 I.aF