The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1916-01-01
NEW COMPANY HEADED
BY PRESIDENT E. T. LAMB
Announcement Made That He
and All of the Other Officials
Will Continue in Their Pres
ent Positions Under Reorgan-
ization.

The receivership of the Atlanta,
Birmingham & Atlantic Railroad com
pany. Georgia Terminal company and
Alabama Terminal Railroad company,
in the federal court of Judge Don A.
Pardee, United States circuit court
of appeals, was terminated at mid
night last night and the new company
known as the Atlanta, Birmingham &
Atlantic Railway company, will take
charge today.
e. r. Lamb. who has been receiver
and general manager of the property
for the past three and a half years, is
president of the new company. He, as
we'll as all other officers of the com
pany, are not only men of Southern
BIRTH but have been connected with
the growth and development, of the
transportation interests in this section
for many years. All officers andS en-
plOyes now connected with the rail
road under the receivership, will be
| continued in their respective positions.
| The headquarters of the new company
will remain at Atlanta an dtwo-thirds
tors will be Southern men. residing
along the line of its road in the states
Of Georgia and Alabama.
The road was sold under iorecIos-
ure decree about IA year and a half
ago. and bought in by a committee
representing the new company. 1t was
| intended that the reorganization
should become effective at that time,
| but the general business conditions Of
the country incident 40 the European
war became such thai it was postpon-
I ed. The new company embraces the
property formerly owned by the At
lanta, Birmingham & Atlantic Railroad
company, the Georgia Terminal com
company and the Alabama Terminal
Railroad company. In addition to the
terminal properties at Atlanta and Bir-
| mlngham. 1t comprises the lines eX-
tending from Birmingham to Manches-
| ter, Atlanta to Brunswick, Seasons
to Waycross and Fitzgerald to Thorn
asville, a total of 6376 miles The an
nual interest charge under the old cap
italization was $2,365 per mile of road.
| Under the reorganization plan the an
nual interest charge is 1921 per mile,
having been reduced to a figure which
experience has shown the road can
| reasonably expect to earn. and not
| based on the cash investment in the
construction of the road. AS will be
seen, this represents a very large sac
| rlflce on the part of those furnishing
| funds for the construction of the road.
| The physical condition of the proper
ty is better than at any time in it's
history and the road is being operated
with great economy and efficiency The
management of the road, under the re
ceivership, has been active in COOP
Grating with local interests, state and
federal authorities, looking to i'm
provement of agricultural conditions
Etn the territory served by the road,
which policy will be continued
The road has enjoyed the most
friendly relations with its patrons and
the public generally, and now that its
finances have been readjusted il will
be better able than ever before TO
80 ~ 'iiS tNi iNOl Itd'IItu ny II, anu
to handle it's business with greater
efficiency.
The general officers of the new com
pany will be f. r. Lamb, president
and general manager; Brooks Morgan,
vice president; Floyd X. Mays, secre-
ltarytreasurer and purchasing agent;
F. S. Baggatt assistant secretary; w.
f. Paschall, assistant treasurer; b.
i, Bugg, assistant general manager:
j. l.. Edwards traffic manager; G. b.
KealhOfer, general freight agent; w
w. CrOxton, general passenger agent;
f. H. Fell assistant general passenger
Iagent; K. Kemp Slaughter. auditor
H. W. COlson, general claim agent
+. b. Rock, Jr., superintendent of
transportation; l.. l.. Beall, chief en-.
gineer; G r.. McWhite, assistant pur.
chasing agent; DR.. w S. Elkins. chief
surgeon; DR.. w s. Goldsmith. assist.
ant chief surgeon; Brandon & Hynds
general counsel.
The news Of the termination of the
receiVership Of the A. B. & A. will be
received with much nlpasura In ppung