The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1921-07-31
By "REsURGAM.0

/ AS the preservation of the trolle,
topic, on the principle that what doe
no harm may do some good, / have
few suggestions, which if licked int
better shape, might help along thu
good work. and are offered like saliva
ton: free.
tits superfuous to say that the loss
of the trolley will be serious set
| back The arguments for its cOntinu
ance appear to be about exhausted
having been set forth so graphically
that the people at large are almost
unanimous in their desire to save it.
The estimate of the expert as to its
physical value will have to be left
open until his figures are made public
but, it may be fairly assumed that the
owners fthe property are rot fal
from the real value when they offer to
sell it, am informed, for a minimum
of $40,000.00
That means, If the property can
be sold for $4,000, out Of it must
come, If the court so DEGREES, the
city's claims and the expense of re
placing the streets If the tracks are
torn up.
The city's claims, understand, ale
approximately s12,O0O.00. The cost OF
replacing the streets will not be fan
from $S,OOO.00. The city and large
number of property owners have re
Gently, with heroic effort, paid and
are paying large sums for street paw
ing. To prevent it's becoming marred
and disfigured in tearing 1t, up and
attempting to patch it or make 1t
presentatble again, Is a factor worth
considering.
Let us assume that the property
brings $40,00O00. The buyer junks
1t, reserving the cost, $8,000.00 of re-
placing the streets, after a fashion,
leaves $32,OOO.O0 for the company. He
fights the city's claims of $12,000.0O
and 1t results in dog fall; $3.50. He
reserves $6,0O0.00 more That leaves
$26 100000 for the company and us
without trolley or any likelihood OF
ever having another one.
That means, II my estimates are
correct, that he would in view of the
aforesaid liens, get the property for
$26,0O0O0 net or by protecting him
the owners of the property would get
$26.000.O0 net. This, we may assume
Is the net value to its owners.
An analysis of the companys books
made not So very long since by non
resident expert accountants, will
prove. so am reliably informed, that
on capitalization of $50.O0O.00 the
trolley system will earn It's interest
at s per cent, besides providing a
sinking fund.
On capitalization OF $4,000 1t would
earn per cent and sinking fund. This
money can be raised In Brunswick and
nowhere else.
The plan In brief Is this. Form a
stock company with authorized CAPT
tai of 100000; one thousand shares
at $1.O0 each. Issue 700 shares. is.
sue ZOO Baby Bonds" at $4,000 each,
7 per cent. payable in ten years: sink
ing fund bonds. To each subscriber
to the bonds. isue a share of stock.
The stockholders are thereby the
bondholders. Brunswickians have
proven by their action In the Con
soils that they will "come across"
when the emergency calls.
This will be home company. on
cered and managed by home people
with view OF running the system for
the benefit OF the home people.
The area of Brunswick is such that
residents in the North, East and
South ends are mutually interested:
Surely the property owners and those
with real estate to sill in these sec.
tions, realize what the loss of the troll.
ley means TO them: they ought to sub.