The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1911-02-04
IMPORTANT DEAL
IS Now REPORTED
BRUNSWICK TERMINAL AND
RAILWAY SECURITIES co.
MAY CONTROL G. c. &P.
An Item of Great Interest to This
City Is Published in a Recent Issue
of the Wall Street JournaI-Meet-
ing to Be Held in this City on
February IA.

An interesting article, in which
brunswick is vitally interested, ap-
peared a few days ago in the Wall
Street Journal, of New York, and, as
that publication is considered one of
the most authentic on railroad deals
In the country, and the further fact
that those in position to know in
brunswick are aware of the fact that
something has been going on along
lines mentioned in the financial paper,
the article is believed to have some
foundation. 1t is as follows:
An option to exchange it's stock for
that OF the Georgia Coast and Pied
mont railroad, so that it may obtain
control of the latter, which has $1,000,-
600 of stock, has been secured by the
Brunswick Terminal and Railway Sc
curities Co. In 1909 the Brunswick
company, which was originally capi-
talized at $5,000,000, increased it's
capitalization to $7,000,000 Most of
this new stock was floated at SIS
share and a large amount was placed.
in Holland at this price. Tue $780,
900 thus secured was used to acquire
all the water, gas and electric light
properties in the city and enough was
left over to build a trolley line which
is now in operation. This company,
which had a deficit every year from
the time of it's organization in 1903 to
1909, is reported to have earned a
small surplus for 1910.
IF present plans are consummated,
an extension to the Georgia Coast and
Piedmont will be built south from Da-
rien, Ga, to Brunswick, distance of
Is miles, while another will be built
north from Collins to Vidalia. Funds
to build these extensions will be fur
nished by a French syndicate. 1t is
reported that this syndicate will also
furnish most of the stock of the Ter
minal company with which to take
over the control of the railroad.
These proposed branches when
completed will provide the Seaboard
Air Line railway, by means of the Ma
con, Dublin and Savannah, which it
owns, through line from Atlanta
to Brunswick This would be of great
advantage to the Seaboard on account
of the additional traffic which would
be furnished to its new subsidiary,
the Georgia Coast & Piedmont, be-
sides the income from the terminal
and dock receipts from the Seaboard
traffic
1T is reported that this exchange OF
stock will take effect early in Febru-
airy and that the agreement has al
ready been signed
That the article is correct as to
the proposed extension of the Georgia
Coast G Piedmont from Darien to
Brunswick and from Collins to Vida
liza. there is no doubt. Only short
time ago it was announced that the
financial arrangements for the eXten
sion had been completed and that il
was expected that the work would be
gin as soon as practicable.
1t is also well known fact that
the Brunswick Railway and Securities
company and the Georgia Coast &
Piedmont Railroad company have
been closely allied for the past few
years or ever since the formation Of
the local company. According to the
report of the Wall street paper the
Brunswick Railway and Securities
company is to exchange its stock fol
that of the Georgia Coast & Piedmon
and thus secure control of the rail
road
Is Seaboard Interested?
The Seaboard Air Line is alst
brought into the new deal, and, &C
cordine to the report, it is to secure
an entrance into Brunswick from AT
lanta by the use of the Macon, Dublil
and Savannah and the G. c. & P.
is known that the Seaboard in tn
past has sought route to seapor
for it's Atlanta line and on more thai
one occasion it has been reported tina
the Macon, Dublin and Savannah ha
been purchased by that line and ina
the road would be extended to 81
vannah. thus giving the SeaDoar
terminal facilities at that port an
which would prove an opposltlon lin
TO the Central of Georgia, which no
operates from Savannah to Atlant'