The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1909-02-14
GOVERNOR SMITHS RAILROAD
STATEMENT.

Elsewhere in The News this morn
ing appears very interesting state
ment issued in Atlanta yesterday BY
Governor Hoke Smith on the mootec
subject Of railroad earnings in the
state OF Georgia during the panic
year This statement Of Governor
Smith. which is taken directly from
he reports Of the railroads them
selves, comes in the nature Of most
convincing argument to those people
IN the state, as well as in other sec
tons Of the country, who claim that
the state Of Georgia has had an en-
barge placed upon the railroads.
Governor Smith shows that during
the year from July /, 1907, to July
I, sos, eight of the principal rail-
road lines in the state Melted profits
in the sum of $6.S67,24399. This
statement is supplemented with the
further Information that in the face
Of the panic year the net profits of
four of these railroads actually in
creased for the year ending July !,
1908, over the net. profits for the cor
responding year. The Central of
Georgia increased by s21S,S79.96, Yves
tern & Atlantic by $l0O,97381. the
Louisville & Nashville by s99,7S1.57,
and the Georgia railroad by s19,7S1 81.
Thus it will be seen that the imagi-
nary embargo placed upon transpor-
tation lines in Georgia managed IL
a year of unusual depression to show
increases in four Of the largest lines
operating in this state.
Governor Smith continues and shows
to the people Of Georgia that these
same eight railroads during this very
same panic year collected from the
people of the state the, enormous sum
of 500 ,S74,4s0, with corresponding pro-
fits in the figures named above These
figures as compiled by the governor
show that the railroads in question
only sustained a loss Of i - per cent
of net Income and as compared with
railroad companies operating all cset
the entire country the Georgia lines
Jared ten times better than was die
case with the railroads in the aggge-
gate.
The statement Of Governor Smith
is one Of the most mportan, he has
given out since bis incnmbency q.
the executive office, and comes in the
nature OF strong re5uttal Of tn.
much-talked Of hardship which tn
Georgia railroads are working under
Governor Smith is practical and real
ICES that the railroads in Geors'ar liks
the railroads everywhere, mast b
regulated. but regulated with fa't
treatment. and this fair treItmen.
should he easily had in the Hands @
iair-minded, honest and conservative
railroad commissioners. II would
serious mistake for the people Of
Georgia to pass any laws which wou :
IN any sense carry with it the removal
Of state regulation of It's railroad com
panies,
one of the strongest points hrousI'
out in this notable statement of Cow
ernor Smith is that the seahoard Air
line, which is now and has been r1t
years operated under a receiyershia
in this panic year operated with onb
little more than a loss OF PEI
cent in its net profits. The statement
is worthy Of serious consideration Ii
| is one of The best evidences Of tae
fact that the governors attitude ac'a
all towards the railroads was the COR
rect one. and that in the regulation g
rates, both freight and passenger, witt
decreased passenger rates in many in
stances the railroads of the state have
stnl managed to make a reasonably
iair profit on their investment.
-s-%ss--.----
Tho cpt.,,tY,, spe,,,s - H. inoorp.