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THE ATLANTIAN resulted in putting the stock of the Georgia Railway and Electric Company above par. The $30,000,000 of bonds are underwritten at 85 cents, or $25,500,000 total. This means four and a half millions of bonus to the financial underwriters, which added to the $27,000,- 000 of stock makes $31,500,000, which does not represent 5 cents of investment. Will Hold Us in Grip. J.t is not well for one to make rash assertions, and in this state ment none will be made, but it is a perfectly good guess that the $25,500,000 produced by the sale of the bonds will far more than cover all the investment, either heretofore made or hereafter to be made. The shrewd gentlemen who are manipulating this monopo listic scheme can certainly not he accused of being in business for their health. The result of this game would be put in power in north Georgia a monopoly which would control our rates for power, control our trolley lines, both urban and interurban, control our electric lighting systems, control our gas plants and eventually con trol our waterworks. They will hold our waterworks in the hollow of their hands when they get these dams completed between Atlanta and Gainesville, and can so harass the people of Atlanta that they would be compelled to let them take the waterworks at their own price in order to keep themselves from periodical water fam ines. They pooh-pooh this idea, but the experience of the past is as Patrick Henry said: * ‘ The only lamp by which we may guide our feet.” And the experience of the past 40 years in the United States has shown conclusively that no monopoly grants any quarter. This charter has one hundred years to run. The net cost to the people of Atlanta nd north Georgia (and that means mostly Atlanta) will be $400,000,000 to pay interest and dividends on stocks and bonds, to say nothing of compounding the money. Why Give Away Birthright? Pittsburg is in the midst of a coal and oil field; Memphis is on a great navigable river. No just man would want to deprive these cities of the natural advantages which accrue to them from their favored positions. Atlanta has an unrivaled climate, and coupled with that, is the central point for the finest system of water-powers on the continent. Why should Atlanta deprive herself of the ad vantages which ought to accrue to the city from this favored posi tion? Wise and prudent oversight of this interest would result in power being delivered to Atlanta and nearby towns in the future at $10 per horsepower, and that would result again in making the Chattahoochee valley the finest manufacturing district on our con tinent. Instead of this wise and prudent policy, the people are asked to turn over this tremendous asset to a few men, in order that they may make multiplied millions, and every man with gray matter in his head knows that they would hold up the community for every thing that the traffic would bear. Instead of the whole community profiting by this favored position, a few men would reap the profit. Already privileged monopolies have produced by their greed a condition of business chaos in our country. Already the whole power of the Federal government under a Republican president is bring exerted to remedy this condition, and the Federal government with all its mighty power finds its arm too short. Why should we consent to put into effect here in the Democratic Empire State of the South a system now thoroughly discredited in the North? Why should we consent to create a Frankenstein to devour us? The proposition has in it neither sense nor justice nor good business for the people. There is no crying need, for this merger. If matters are left as they are now, the development will come as rapidly as the resources of the country will' justify. Indeed, it need not be feared that the development will come even more rapidly than re sources will justify, but from separate organizations, none of which will be powerful enough to.dictate terms to the community. Dangerous Corporation. The argument is offered by these shrewd schemers that these sep arate companies which they propose to merge have a capitalization equal to the new capitalization proposed. That is a shrewd argu ment, but is beside the question. Everybody knows that ten $5,000,- 000 companies would not be one-tenth as dangerous as one $50,000,- 000 company. Everybody knows that the $20,000,000 corporation now existing in Atlanta is a dominant and compelling force and mul titudes of people stand in awe of it. Multiply this Jour, times and make it a $77,000,000 corporation, and what chance would any com munity in north Georgia stand against such an octopus? If the foregoing statement of fact does not arouse a storm of in dignation in Georgia, it will prove that our people .have lost spirit and courage and wisdom, and deserve only to be ruled by an oligarchy of monopolists who will bleed them of the last possible nickel. Adair, Then and Now. In this connection,, it would be interesting to those who read this to turn back to the papers a few months ago and read a letter of Forrest Adair calling attention to the importance of this develop ment, and to the further statement in that letter that he was not then interested in any of these powers, and never expected to be. Now, Mr. Adair appears as an officer and director of the company and one of its most active promoters. A further matter of interest in this connection is that, in the ses sion of 1909 an act was rushed through the legislature in the last days of the session permitting such mergers. Some good lawyers think that this act will not stand in a court test, but it is on the statue books now and it shows that these far-seeing gentlemen had been planning this coup as far back as 1909. HELEN D. LONGSTREET, President Tallulah Falls Conservation Association. FRIENDLY SOCIETIES ABROAD. A review of the great work accom plished by the friendly societies of Great Britain and France, which correspond with the fraternal societies of America, is ftdl of great promise for the societies in this country which are being conduct ed along safe and progressive lines. The Manchester Unity, although it has pass ed its one hundredth year of official exist ence, holds a strong financial and envia ble position among the great benevolent institutions of the world. Tho member'-' ship of fifty-five societies numbers up wards of 9,000,000 persons. As the Chief Registrar states in his report: “That a useful work is carried on by these societies is evidenced by the number of persons joining them.” As is pointed out in tho official organ of the Manchester Unity “The friendly socie ties have done so much to help to keep men erect as self-respecting citizens that it is our hope that they may continue to do their useful work, not to a dimin ishing, but to an increasing extent. It is especially gratifying to record the number of men of high prominence who are devoting themselves to this work, not from any personal or selfish motive, but for tho single-minded purpose of helping their fellows. In France tho number of members belonging to such societies ag gregate nearly three and a half million. ” It is a significant fact that both in England and France the friendly socie ties are growing in popularity. Sick ness, !>cncfits and relief made necessary from want of employment have been made permanent features in many of the English and French societies, and lat terly what is known as the “land socie ties’’ arc operating plans to assist mem bers in home buying. In England, as in this country, the societies were started without any scientific provisions for meeting obligations, but they have been brought to a sound financial basis after much effort, extending over a long term of years, thus showing the possibility in this direction for those American socie ties, the officers of which recognize their duty in this respect and have the cour age to put it in force. It is also worthy of note that practi cally as much has been accomplished in the way of readjustment in a very few years in this country as was done in Eng land after nearly half a century and much Parliamentary investigation and legislation. The strength of fraternal- ism is certainly most conclusively demon strated, and those who have any doubt on the subject would do well to read tho splendid reports of the great work that has been accomplished in this direction broad. There is no doubt that fraternal- ism in this country is splendidly adapt ed to be expanded so as to comprehend the movement toward old-age pensions and other forms of protection not here tofore provided for. A LONG LIST. Citimnn—“You’ve been living in-the suburbs so long, I suppose yon’ve had considerable experience with servant girls?” Subbuhs—“Well, it’s got so that when my wife is interviewing an applicant now she always begins by asking: ‘Were you ever employed by me before? If so, when and for how long?’ ”—Catholic Standard and Times.