Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1920-01-06

lTN HE suggestion CnaC the Atlanta, BIZ
mingham anil Atlantic railroad be
dissolved and sold as scrap material
t to satisfy certain al xious bondholders has
! provoked intense regret throughout the ter
ritory served by that system, and, indeed,
! throughout the State How else than with
! surprise and protest could the hundreds of
! thousands of people concerned regard pro-
! posal that this magnificent property, repre-
senting an investment of some thirty-five mil
lion dollars and constituting The principal in
some instances the only rail communication
! of the one of the most fertile and thriving
regions in the South, be wrenched from its
great mission and treated as mere junk?
We are not unmindful that many of the
bondholders have been long-suffering and in
dulgent season after season elapsed with
out the payment of due interest; nor is it to
be forgotten that all the private interests in
volved are entitled to full protection and ulti-
mate satisfaction. But there are public in
tefests as we'll which must be considered
! interests that would suffer irreparably if this
railroad should be sent to the junk heap.
Atlanta would be deprived of an invaluable
connection with South Georgia and Alabama,
and also of a sea outlet that will grow more
and more priceless with the increasing i'm
| portance of Southern ports. This is but one
| of scores of communities that would be in
jured, and injured far more seriously, if this
road with it's eight hundred miles of rail
4 IL.
wick, Thomasville, Birmingham and a great
sweep of intermediate country and dependent
towns would feel the blow as a shock to
their business and, in many case, as a grave
setback to their progress.
Think, moreover, of tho fruitful prospects
which would be sacrificed should the A. B.
& A. now be destroyed inste dd of being de-
Veloped upon the lines of it's manifest des-
tiny. AS the roads vice president Mr.. Brooks
Morgan pointed out in his recent statement
arrangements for an extension to Jackson
vile had been made just before the Govern
ment took over the road as a war measure
Rails had been bought and terminals mr.
chased both at Waycross and Jacksonville
at which point it has been promised large
amount OF tonnage that will be carried there
by certain friendly steamship tines" Would
| II not be grievously shortsighted' to abandon
inns rich promise, and at the same time to
ieave large realm of present opportunities
and needs wholly bereft of railway service ?
! is 1t not the part of business wisdom as we'll
i as puollc justice to continue a brave strug-
I gle, at least until it is seen what measure Of
encouragement and aid Congress means to
provioe Tor roads confronted with just such
I problems as those of thea, B. g. A.?a
The officers and directors, representing if
| IS sad, large majority of the second-mort
tsssase5 or 1ncome) bonds of the road AFRO
ready and eager to stand by their nosts of
uuty Mr. benjamin L. Bugg, recently an
pointed Federal Manager of the line upon
the death OF the lamented E. r. Lamb. has
demonstrated his high ability as a railway
executive, and is supported by a loyal and
capable staff In these circumstances ali in
tefests should be willing to see the situation
faithfully through. The A, B. & A is not
a1one IN racing deficits; @the greatest svstenoe
on the continent bear it company It shon1d
n ~ De sacrlhced to pessimism and impatience,
II should not be scrapped if by any manner Of
means it can be saved ~
Nv, we 90 not believe that the law wou1d
justice would not sanction it, '"''