Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-01-18
Commission
SHOWS VAST.
REVENUE Of
ST A TE ROAD
Report Says W. & A. Is Best Pay
ing in Georgia; NJ C. & St. L.
Present Lessee, Operating at
Half Million Profit Yearly.
Net Earnings Of Property, Shown
at $73l,469.33, Less Rental
Paid State of $42O,0l2,00,
Leaves Revenue $3ll,457.33.

IiOfSItS WIZ
The Georgia Railroad Commission
having in mind the forthcoming ex-
piration OF the present lease Of the
Western and Atlantic Railroad. has
given out some most interesting and
In parts, astonishing figures in con
nection with the business OF that road
under its present lease contract 70
the Nashville, Chattanooga and st
Louis Railroad.
The figures submitted by the com
mission show conclusively, when com
pared with the figures assembled for
other roads, that the Western and
Atlantic is the best paying railroad
line in Georgia" and the commission
nat- footedly states as much.
With the matter Of releasing the
road now being considered by a Leg
lslative committee, some OF the in
formation given out by the commits
sion is of vast and reaching i'm
portanCe and significance al this time
The commission says:
THE Western and Atlantic Rail-
road belongs to the State of Georgia
II runs from Atlanta TO Chattanooga,
a distance Of 1868 miles and is leased
to the Nashville, Chattanooga and St
Louis Railroad for SI200l2 per an
mum.
The present lease expires Deem
Der %, 1919
THE Louisville and Nashville Rail
road owns II per cent OF the capital
stock Of the Nashville. Chattanooga
and St Louis Railroad. the lessee
company. The Louisville and Nash
Vile has trackage rights over the
state road for its trains, through Eft
owah, Tenn. from Cartersville to At
lanta. and for trains through Knox
willie. Tenn, from Marietta to Atlanta.
In addition TO leasing its road and the
physical properties actually used in
railway operations, the State leases
other valuable properties, including
city real estate in Chattanooga, all
Included in the gross rental above
mentioned.
The gross revenue received by the
lessee company from the operation
and use Of all the property leased to
II by the state for the year ended
June 30, 1918, was S3,374,Ql079.
"Deducting this latter sum from
the gross receipts from the leased
property leaves net earnings Of the
same property Of 1891 ,469,3S, which IS
per cent net on $14,629 3S6
From the net earnings of the prop
erty, $7Sl 469 S3, the rental paid the
State, $420,0l2, leaves net profit
from the lease to the lessee of 1911, -
1913.
The value OF the road to the pres
ent lessee the Nashville, CHATTANOOGA
and St Louis Railroad. which is con-
troled by the Louisville and Nash
VILE Railroad is not, however. meas
ured solely by the net dollars that the
lessee receives. Its value is Largely
enhanced because the property under
lease control is most valuable link
in a great railway system This IS
shown by the following facts
The Atlantic Coast Line Railroad,
vast Eastern seaboard system, owns
81 per cent OF the Louisville and
Nashville Railroad, a vast Western
and gulf system; the Louisville ana
Nashville and the Atlantic Coast Line
are the joint lessees OF the Georgia
Railroad from Atlanta to Augusta,
where II connects with the Coast
Line, and perhaps the third best rail-
road In Georgia: the Louisville and
Nashville and the Atlantic Coast Line
control the majority stock of the At
lanta and West Point and Western OF
a l3nAUla, from Atlan'a 20 MontROm-
cry, the Atlanta and West Point Rail
road being perhaps the second best
railroad line in Georgia; the Louis
vile and Nashville in turn. owns II
per cent OF the stock OF the Nashville
Chattanooga and 81. Louis Railroad
the lessee of the Western and Allan
tic, the best pay.ag railroad line In
Georgia, and the connecting link he
tween the Louisville and Nashville
ba NaghNfflp ('huftuv,AgYa a,
ST. Louis system and the Georgia and
the Atlanta and West Point roads
and the great Coast Line system at
Augusta.
The total rental paid the State for
the year for all Of its property was
S420.0l2 The lessee received as REM
ais for a portion OF this property
which 1t sublet and from trackage
rights total OF sl30.740.S3. which left
only s2S9,27ll7 due the State to be
earned In railway operations
THE present lease began on DeCem
her % 1890 since when and 20 Jun,
50 1918 period OF % Ia years. the
lo'0' receipts from railway operation
have been $50 -tg 1A0.1l operating aN-
r.nees S34sGg.SS7IS. leaving the ne.
eHrDIugs from railway operations
$500 40S.29
During the same period he lessee
he's paid 70 the State as rental $g,45l.-
1926 Is total expenditures for adj
d5t.ous betterments and improve
merts have been SNl&.S9S4l
"TNt operating revenue Of 5000
Tco1T as reported FOR the past -
years does not include revenue from
- rental ~ property not used for rail
w4r purposes. nor do the net earn
Rvs from railway operations, SIS
1890 +0S2H include such rentals. these
rentals should be added 10 the above
fra's q. ascertain lae entire revenue
i prupert leased 20 the
lessee