Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1914-01-18
COMMISSION
SHOWS VAST
REVENUE Of
ST ATE 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 $420,0l2.00,
Leaves Revenue S3ll,457,33.

Leaves revenue Do ,4of,oo.
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 to
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
dat-footedly states as much.
With the matter of releasing the
road now being considered by Leg
islative committee, some OF the in
formation given out by the commits
sion is of vast and far-reaching i'm
portance and significance at 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 1858 miles. and is leased
TO the Nashville, Chattanooga and st.
Louis Railroad for s420,e12 per an
uum.
The present lease expires Deem
Der 81. 1919.
THE Louisville and Nashville Rail-
road ~ nf 70 MI al
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 It's trains, through Eft
oNah, Tenn. from Gainesville 10 Al
lanta, and for trains through Knox
vile, 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
1t by the state for the year ended
June 80. 1913, was S3.374.91079.
"Deducting this latter sum from
property leaves net earnings of the
same property of S731. 469,33. which Is
per cent net on Sl4629, 3S6.
From the net earnings OF the prop
erty, 1881 46933, the rental paid the
State, s420012, leaves net profit
from the lease to the lessee OF s81l, .
1913
THE value OF the road 10 the pres
ent lessee. the Nashville, Chattanooga
and st. Louis Railroad, which is con-
trolled 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 a 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 ami
Nashville and the Atlantic Coast Line
are the joint lessees OF the Georgia
Railroad from Atlanta to Augusta.
where II connects with the Goa 81
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
Alabama, from Atlanta to Montgom
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 Il
per cent OF the stock OF the Nashville
Chattanooga and st. Louis Railroad
the lessee of the Western and Allan
tic, the best pay.ng railroad line IN
Georgia. and the connecting link be-
tween the Louisville and Nashville
St Louis system and the Georgia ana
the Atlanta and West Point roads
and the great Coast Line system al
Augusta.
THE total rental paid the state foi
the year for all Of its property wa,
s4200l2 The lessee received as rem.
ais for a portion Of this property
which II sublet and from trackagt
rights q total Of $3.50 $40 SO. which le'
only s2S927117 due the state TO >,
earned in railway operations
The present lease began on Decem
hr- - 1890 since when and 20 Jun,
80. 1919, a period OF 90 IL years. tn,
.9-al receipts from railway operation.
rave been $50 259.1s0.7l. operating *.
earnings from railway operations
SIS 4a3.29.
During the same period he Jesse,
has paid TO the State as rental s9454,.
ISG.2G is total expenditures for ad.
ditions, betterments and improve
ments have been SSl3.SeS4l
The operating revenue Of $50 259
Tg0l7, as reported for the past 2.
Years does not include revenue from
rental Of property not used FOR rail.
way purposes nor do the net earn.
ings from railway operations, SIS.
500 4o3 e. include such rentals; tha>.
rentals should be added 10 the abov,
totals to ascertain the entire revenu,
from all property leased 10 the