The Birmingham age-herald., 1911-02-18
TAG ROUTE FLOATS AB|G BOND ISSUE Deed of Trust Filed for Five
 Million Dollars AFFECTS THIS CITY General Opinion Is That portion of Large Sum Will Be Used in
 Providing Extension to
 Birmingham

In furtherance of the plan of the Ten nessee, Alabama and Georgia railroad, Tag Route" to build its line into Bir- uIingham, was the recording yesterday in all states through which the line now passes of a mortgage for $50oo,O0O to se- cure a bond issue for that amount.
 Officers of the Tennessee, Alabama and Georgia railroad caused the deed of trust securing the bond issue to be filed in pamphlet form, giving notice that the Empire Trust company of New York was trustee of the large issue and that the money would be used in putting the pres building such extensions as were deemed proper by the directors.
 The bonds are of the 5O-year interest bearing kind, carrying per cent annual ly. The interest is payable semi-annually and each bond of 5000 carries a coupon for s25.
 It is the general opinion that portion of the sum realized by the large bond issue will be used by the company in furthering it's plans of extension to Dir minghAm, and the purchase in Birming- ham of desirable terminals for the line.
 It will require about S2,O0OO0o, it Is stated, to put the Chattanooga Southern division of the Tennessee, Alabama and Georgia line into first-class shape with the additional side lines which are to be constructed. The cost of building from Gadsden or a point near that place to Piedmont and to Odenville will be about | S1 rn incl ta af terminals. It Is stated that the company will not hesitate to give contracts for the grading of the line toward Birming- ham, and that this part of the work will start within very short time.
 The line, as previously announced, will come either through Piedmont or Gads- den. It Is said the favorite now is the former. From that place the line will be built to Asheville, St. Clair county, will be made by the Tennessee Alabama and Georgia line with the Seaboard Air Line railroad Recent conferences be- tween Seaboard and other railroad of ficials placed distinct stamp of authen- ticity to the statement that this connec- tion has been contemplated from the start
 Concerning the line from Odenville a traffic contract will be entered into with the seaboard Air Line for a long term of years, thus avoiding building 8 miles additional line at this time.
 The Tennessee, Alabama and Georgia railroad is officered by large number of reputedly capable and practical railroad men. Newman Erb of New York is pres- ident and the other officers are men be- lieved to be capable In every way of man. aging a great system of railways. They have rejuvenated the old lines purchased and have made a complete success of their project. The plan to extend the line from Chattanooga to Atlanta is go- ing ahead without any stops, and the prospects are that the line into Birming ham will be in course of construction very soon. The step has not been taken hastily, but haS>been decided upon after thorough inspection and after much study had been given the subject.
 Chief Engineer Fisk, when he was here recently, said the city of Birmingham had made a deep impression on the of icerS or lne company, ana they were convinced that this city was a logical point for their line and were coming here just as fast as work could be performed
 In railroad circles of Birmingham the recent announcement of the building here of the Tag Route" railroad created the livest interest. Expert opinions have 1t that the line is ably managed and it's ability to place $5,0O0,0OO bond issue at this time is taken as bearing out this idea.