Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1902-07-17

the railroads entering Atlanta singly and
| Jointly agreed in writing. II that bin had
become law in 1900, a satisfactory and
, commodious union passenger depot would
have been constructed on the states prop
erty in Atlanta of sufficient size to meet
the demands Of the situation. and from
the rental TO be paid the state all the cost
Of construction would have been returned
TO the state treasury by the expiration Of
the present lease. The state would have
then had her depot. its original cost paid
for by the different roads and the monop-
oily she now holds left undisturbed. The
fate of that bill is now a matter OF his
tory and the hIibustering tactics employed
by a small minority Of the house of repre-
sentatives who finally engineered its de-
feat A large majority Of the members
favored the bin as a splendid business
proposition for the state, and as a protec
ton for the terminal facilities OF the state
road. but the bill was never allowed to
reach a vote on the final discussion of the
matter and the opportunity for the state
20 preserve and protect that part OF her
magnificent property was lost forever.
The Bill Of 1901.
The friends of the depot proposition in
the interest Of the state introduced an
other bill I'm the session Of the general as
sembiy for 1901. providing for an appropri-
alton OF $4,000 10 build a depot on the
states property, and also that the other
roads should sign an agreement as to
occupancy and payment of rental the
same as was required in the bill of 1900.
This last bin passed both the house and
senate. and received the approval Of the
governor. The Southern railway and the
Central OF Georgia railway have. however,
up to this time, refused to agree to the
proposition, together with the city coun-
ell Of Atlanta, and II Is now the general
nwHufnYr that tha Efnfn will "a Hahn rraH
from building a new depot, and that the
Southern viii build the new union depot
for Atlanta on its property at the foot of
Mitchell street
This is the beginning OF the end. the ul-
innate wreckage and depreciation I'm value
of the magnificent property of the West
ern and Atlantic railroad. The present
lessee OF the state road. the Louisville and
Nashville. has been recently bought up
and absorbed by the Southern railway
system. The Southern parallels the state
road from Atlanta TO Chattanooga and at
the expiration OF the present lease of the
state road, all the business over the L. g.
n. can be and will be handled over the
lines Of the Southern or Central, both OF
which latter roads now enter Chatta-
nooga and which are controlled by the
Southern. The state road a few years
ago lost control Of the depot facilities in
Chattanooga. just as she is now doing In
ANAANNA# AT NDG EAUAEANAOAi QA tue RfEcCAA
lease the state road viii doubtless be
thrown on the hands of the state to be
operated as local road between Atlanta
and Chattanooga, or a very much lower
rental viii be offered than that which the
state now receives.
Any road operated nowadays as a local
road Will hardly pay operating expenses.
II the state road, therefore, loses its
through business at both ends of the line,
loses the value Of her terminal facilities
at Atlanta as she. has already done at
Chattanooga, and A forced to occupy the
new union depot TO be built in Atlanta as
a servant of the Southern railway, paying
a high rental for the privilege of doing so,
there can be no question as TO the rapid
deterioration of its present high value to
the state.
Value of state Road.
The gross value Of the state road has
been, within the past year or two, and
before present contemplated changes In
the value OF its terminal facilities takes
place, estimated at $4,000 900. Its present
net rental amounts to about 100000 per
annum. or 4 per cent. or an estimated
value OF 100000, one-half OF which is
regularly applied to the public school
fund OF the state. The gross bonded In
debtedness OF the state amounts to about
S. 10000. so that this single piece or
magnificent property IA sold at present
value. would not only pay the entire bond
ed indebtedness OF the state, but would
also place 1900. 900 additional in the state
treasury, one-half OF which would meet
the deficiency IN the school fund and en-
able the state to pay the teachers prompt
~. But. even II the state road could now
be sold for s10.o0o.ooo. IL would be a bad
business proposition on the part of the
state TO sell IL. so long as the road will
command its present rental. The loss OF
the states terminal facilities in Atlanta.
and the ownership OF the Louisville and
Nashville by the Southern. together with
other reasons advanced in this article,
leaves little doubt upon my mind that
there are already schemes being laid to
so bottle up and handicap the state road
by the big interests behind the manage
ment OF the principal railroad lines in
Georgia. as to either force the state road
on the block at the expiration OF the pres
emit lease, or largely reduce its present
rental. or force the state to operate 1t at
but little or no profit to the taxpayers of
Georgia.
The grasping and almost limitless fnan-
cial power OF Pierpont Morgan. who is at
the head Of the Southern railway system,
ana who is now rapidly absorbing all the
principal lines In the south, and who
owns all the leading lines In Georgia with
but one or two exceptions viii doubtless
years. and at the termination of the pres
ent lease OF the state road there will be
but one system with which the state can
deal, and that system will hold the key
TO inlet and outlet OF all the railway bust
ness coming into or going out OF Georgia.
The only business the state. could expect
to control absolutely for its road would
be the local freight and passenger traffic
Immediately along its line between the
cities OF Atlanta and Chattanooga.
There Is yet an avenue through which
the state can escape the ultimate depre-
citation IN value OF her Western and At
lantic railroad property and force what
ever system that dominates the future
railway interests in Georgia to respect
her rights and pay proper rental for her
property. That Is to build and equip an
air line railroad to be operated in con-
nection with the present state road from
Atlanta to the seaboard at Savannah. The
81 h.