The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-08-26
The Lease.
Kinston Free Press.

N1nSlOll fGee 1IeSS.
A gentleman from a neighboring
town sends the following letter:
Editor Free Press: Will you or
some of your readers inform us
who live in this section why it is
best to lease the Atlantic and
North Carolina Railroad. We do
not clearly understand why it is
best when the property of an in
dividual, corporation or State is
rapidly enhancing in value to sell
out or lease out. Why hold prop
erty through adverse times and
Just so soon as we see an asSur-
ance of this property becoming
exceedingly valuable, cry out
lease. Is this what big folks call
good business judgment? Would
a man be called an extremist to
say that within five years from
date stock in this railroad will be
worth twice what it is today?
CITIZEN.
The question as expressed above
will occur to many of our readers.
The Atlantic and North Carolina Rail-
road is without doubt annually in
creasing in value. 1t will continue
to increase in value just so long as
this section of the State is prosper
Gus and it's activities grow. Five years
from date stock in the road, whether
leased or not, will in all probability
be worth more than it is today.
But as to the lease of the road. 1t
would seem to us to depend very
much on who secures the lease wheth-
er such step would be beneficial or
not. No lease should be thought of
that does not first of all take in con-
sderation the progress and develop
ment of this eastern section of the
State. For in the advancement of this
section the whole State will be bene
fitted. The road under its present
condition, improved as it has been
by it's present management is doing
great work for this section Still we
think that it could do a greater work
for our people and be made more
valuable piece of property than it now
shows to be. Its equipment is yet
far from adequate. AS an instance of
this fact let any one notice when a
long freight is passing how few a.
and n. G. cars compose the train.
Almost every other road is repre-
scented with a few ''mullets' thrown
in here and there. This is condi-
ton that should be avoided; for at
present the road must expend large
sums for borrowed cars that are in
use constantly. In short the equip
ment of the road in many particulars
is not what it should be in order that
it become a good paying piece of
property SO much for the value OF
the property to the stockholders.
The Free Press does not believe
that the road is doing altogether as
much as it might do in the develop
ment of our section. 1t seems to us
that it might be extended in such
way as to afford us facilities other
than the Atlantic Coast Line and
Southern afford us. AS President
Bryan has pointed out, we are really
at the mercy of the Atlantic Coast
Line, as conditions now stand. OF
course if the road were in a position
to do more business than it now does
by reason of an improved outlet the
result would be increased dividends
on this score.
These two necessary improvements
better equipment and extension
might possibly, of course, be atta1ne"
under it's present management But
the Free Press is free to confess that
it is scarcely able to figure out such
a result If these results can be at
tanned under the present condition of
affairs, all we'll and good, from bust
ness standpoint. But what ii they
cannot? AS a matter of fact any
private interests that takes hold of
the road as a money-makfng piece of
property is going to equip IT Tor
it's most complete usefulness. Other
wise they would be standing in their
own light. Then the State should by
no means lease the road without do
ing so upon condition that needed
extensions should be made, so that in
matters of freight transportation we
might enjoy more independence, IL
possible than we now possess.
The question is, can we derive more
benefit as a section and as State, in
the end from private management,
with improvements and extensions
than we can from public manage
ment as at present.
Unless those who control the desti
MES of the road can get an entirely
satisfactory offer for the property,
they had better wait awhile.
Sooner or later a satisfactory offer
will come; for the property is stead
lily becoming more valuable.
Blaine's Estimate OF Davis.
James C. Blaine's Twenty Years in
Congress.
Henry c. Davis q native of sMarv-