iliHiiiWiBijHHftKi
THURSDAY, JUNE 7, 1923.
Tii TUB BAlYNBR.HBRAt.D, ATHEN8. GEORGIA
CENTRAL OF GEORGIA GIVES FACTS
abouty railway valuation
vnersbip of railways, have
as fixed for rate-making
Radical politicians, whose purpose is to establish Government i
recently launched an attack upon the valuation of American railways
purposte by the Interstate Commerce Commission.
Patrons of the Central of Georgia Railway have a right to know the facts, concerning the
valuation upon ^hieli rates are bused, and to have the figures as to the capitalization of this
railway, ao they may judge for themselves as to whether this Company is expecting to earn re
turns upon over-capitalization, of as it is commonly termed, “watered stock.”
Jlnro nro Hie facts concerning .tlm rMitral Georgia Railway ami the lines leased and
oncrati'il by ItyTho aggregate par value ot tlio securities ■outstanding as at December 31, 1922, was
$75,77$,82fi. On that date we tnvnoil 29S locomotives, 9.03G freight train cars and 312 passenger
train; cars. 'This equipment alone cost as follows.
Locomotives
Freight ears
Passenger cars ... .
.. $ 5,770,431.02
... 8,790.884.99
... 2,758,309.60
TOTAL $17,225,626.61
AJ present prices this equipment would c c st more than $30,000,000. Rut subtracting only
thV.kpiSJjer figure, Representing actual cost,'from the capitalization outstanding leaves only $58,-
462,2^.99 as representing the value of our roadway with is right-of-way, ballast, tics and rails,
bridges, signals, telephone and telegraph lines, and other, railway property, even Including bulld-
intff.M^Uid. roundhouses, shops, freight and pns^sengor stations and the like. The value of our
tert^J. properties at Savannah and other iinportunt cities runs into large figured. For example,
our terminal In Savannah, comprises 288 acres with one ndlo of waterfront for the handling of do-
mestlcrand foreign, traffic. *'• ' *
The Central of Georgia operates and lenso3 1,964.66 miles of railroad, but counting addi
tional main line trackage, passing tracks and yard tracks, wo have 2,623.25 miles of trafck. If the
$58,453.200.39 referred to above, covered the value of tracks nlono (excluding all other property
used In the service of the iHildie) it would represent only $22,281.89 for etch mile, of track. It
costs approximately $25,000.00 per mile to build ordinary hard-surfuCed highways with only light
grading and bridge construction necessary, and without including the cost of acquiring the lana
nn-w^fclRtho road is constructed. Will nny reasonably minded person deny that the Central ot
Georgia track with its right-of-way, station buildings, ballasts, ties and rails, heavy bridges, sig
nals, telephone, and telegraph lines, and other appurtenances, Is worth moro per mile # than It
costs to build a milo of hard road and without Including the cost of acquiring tbo land?
;v>;
TJio Interstate Commerce Commission, after years of thorough Investigation, has fixed
the tentative valuation of all American rallwtiys at $18,900,000,000. Those attacking the justice'
of tills valuation are trying to make it appear that it is based upon present-day replacement
costs that it Is excessive and that It Imposes a burden upon those who pay freight and passenger
rates. This is erroneous and misleading. Valuation figures are based ^ipon cost determined as at
June 30, 1914 and ignore entirely the Increase of costs during the war period. It Is a matter of
common knowledge that pre-war costs have practically doubled. Additions sinco the valuation
at 1914 figures, have been takcirby the Commission at actual cost, minus depreciation.
present outstanding capitalization ofr all rallw
present tentative valuation.
ays is about $2,000,000,000 less than the.
In 1922 out of every dollar spent by tho carriers, 86 cents went to pay the actual costs of
the service rendered to the public. The act of valuation can have no conceivable effect upon
thesq^pstH. Only about 14 cents remained out of which to pay Interest on indebtedness, rentals
of leased'linen, dividend:* and-the coat of enlargements ami Improvements.
The railroads ask only that the Interstate commerce Commission treat them in accord
ant* with the provisions of the constitution ns I nterpreted bv tho courts. To disregard these con
stitution^ provisions, as demanded by radical agitators, would Involve such confiscation of pri
vate property and investments made in good faith, as has never occurred In Amortcan history.
(Constructive criticism and suggestions are invited. '
■ » W. A. WINlftTRN.
• President, Central of Georgia Railway Company.
INDUSTRY URGE
employed, from regular trucks to
Ford and other makes of cam at
tached to wagon,. And this is
only one mill, for there is another
plant in Lexington the same size.
These mills each dress and Bhip
100,000 feet of lumber a day, and
which fills from four to iix cars.
E,eh car of lumber brings from
MSO 1
of li
i tq $500. Mr. Shackelford
i CtmAnno anil te,,s me that there arc now in op-
Lexington, Stephens ana CMtion Oglethorpe county 211
Maxeys Operate Several «»>* “Ui» «n“ new plants are con-
Planing Mils. Benefit to ■ umly -*" ded - 8omo of ‘- ho8c -**“■
Athens, Says Gantt.
(BY T. LARRY GANTT
I returned from my visit to
Oglethorpe hdpeful and enthused'
over the future of that fine coun
ty. It was a surprise and revela
tion. the immensity of the lumber
_ - - JL ....
are model lathe mills at both Lex
ington and Maxeys.
At Stephens there are two large
lumber companies and a planing
mill at Mnxevs about the canar-
tion. the immensity ot tne lumoer m j|| }lt Maxeys about the capac- they cut. So the timber owners
business dbveloped I saw stacked ity of thc j^ng^n plant, as also appreciate the entrance of these
around the plamng mill in Lex og a Jathe IYI ||| s These lumber p|ante|home concerns into the field, for
eys mill Is owned by Messrs. Tom
and Ralph Bright well; Mr. Tom
Brightwell ownfUg the planing
mill and Mr. Rulpn Brightwell ttye
lathe mill. The lathe mill at Lex
ington is also owned by home
folks.
Until these local capitalists be
came engaged in the lumber busi-
ness land owners were not paid a
fair price for their standing tim
ber, and' I learn that some sold 1
their trees as low as $2 per thous
and feet. Neither did they pay so
much for labor and hauling. But
when these local mill companies
began business they increased the
price of tinker, labor and hauling
from mills. An experienced 1 lib
ber dealer says that before the lo
cal mills started up the lumber
plants made a clear profit of about
$12 per thousands all the lumber
ut jjuu yjjrua ’owners, for they can sell their lumber and Chen sold it to the
is separate! standing timber for about as much planers, and this paid them bet-
the county.' There are at this mill | sourco * of reTenue
seven streets, each about 200 yards
[on* and eVcry avenue ia *cparated , ^ m „.^ , lm „ r Iur aDUU[ „ mucn
r y .* m C h S . ° f ^ it. 3 ’ " a thcir lanl1 would have brought,
feet high, anil the trucks^ have | Thcn it R j v j„ em ployment to, a
of men ' h°th white and
the fifteen mills belonging to t&'*?black, and everv Saturdav the
, they are now paid a fair price for
[standing timber. But several land-
_ _ | owners told my that they hired
land- saw mills to cut their trees into
The road is lined with trucks and
wagons hauling lumber to the
planers. Every kind of power is
j YOU can FIND them in the
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*1BANNER ■ HERALD
PJHONE 75
'TIRE buying need
1 not be a matter
of bargaining or of
risk. YoucanJiavo
•very ataurance of
good value, good
service, and asquayo
deal. All you have
to do is to buy your
tires where you see
the Goodyear Serv
ice Station Sign.
There is one on
our place of busi
ness in this town.
At C— iymr Servlet Stttkm
Dttltrt m tell and rscew -
mend the new Goodyear
Coed, with the btoeUdAli-
r, “A*3l2c3
Scott Hardware.
Athens, Ga.
. and every Saturday the
heavy pay rolls pours money into
the tills of the merchants.
These mammoth planing mills
are all equipped with the latest
appliances for expediting work and
saving labor. A truck Id«d of
lumber is unloaded end placed in
‘about tho time that It would ;*e-
j quire to lift off two planks by
•hand. The unloader is steel (fables
[and a hoisting apparatus. The en
tile load is lifted off and placed in
almost a flash. And the same la
bor-saving methods are em;
ter*
There arc several hundred mil
lion feet of lumber in Oglethorpe
county and it is a great source of
revenue to land-owners, and the
money enables them to hold their
own against the boll weevil. The
Messrs. Brightwell own large bod
ies of timber but they are saving
that and buying trees wherever
they can find them. They say
they can thus keep up the price for
timber ami when the supply runs
short cut their own trees into
lumber.
And Athens as well as the local
merchants are profiting by ^his
iber, for <
Oglethorpe lumb
■ every Sat
in handling the lumber. A board urday when the hands are paid off.
, is placed in the planer where it is they borrow trucks and come to
(dressed on/aR sides and carried our city to buy goods. And this
(from the planer into the door of _
ic^r ano hands atv Hiere to stacy
I the boards. The Shavings arc car
ried through galvanized pipes
: cither into the furnace, or if not
needed for making steam they are
icarircd a safe distance from the
plant and burned. The shavings
supply steam to operate the plant
and its different parts.
FRAMING
FOR BUILDINGS
Some boards are gotten out but
most of the lumber cut is framing
;for buildings and car floors. But
; every piece is run through a
i planer, so as to have them tho
exact size and no unnecessary
[lengths are ahipepd. Their ends
l;i»e cut otf at the mill and each
! pieco of equal sizd and carpenters
[who erect buildings have no un
necessary work to do. These mills
{are lighted by electricity and have
j their own waterworks and alj pLe
{for operation. It ia worth a trip
j to Oglethorpe to see these raiHf -v
j work.
1 The Buffalo Lumber Company.
jtMt owns the new mill just start
ed at Lexington, Is An Mheiu in-
i‘dilution* being owned by Mr. Wil
kins and other parties associated
iwiih the Georgia National Bank,
iMr. King Howard and. Mr. She-
-lhane. TMs company owns large
[belts of fine timber and can keep
jin operation for years. Tho Max-
EAT AT
STEVE’S PLACE
Claytop Street
SEE ' .
“STEVE HIMSELF’
business has just started, and it is
estimated that it will take from
three to five years to make- a dent
in the stock timber of Oglethorpe
county with all the saw' mills in
operation.
A great American
play screened by
a great American
director.
LOUIS B. MAYER
Presents
%?FredNiMo
Production
TheFamous
Mis. Fair
By June. I
PALACE
Showing
TODAY
Tomorrow
THE CHEATHAM DINING ROQM
Former Homo ot Dr. v I. H. Goss
Delicious Meals Served Three Times Daily
DINNER 40c
297- W. Hancock Avenue
V
TALLULAH FALLS
special Sunday Train to Tallulah
Falls and Franklin, N. C.
Stars Sunday, June 10th ,
Lv. Athens, Southern No. (P 7:46 a. m.
Ar. Lula, Southern No. 6 .......... 9:20 a. m.
Lv. Lula, Special Train 10:00 a. m.
Ar.‘ Tallulah Falls, Special Train .. .12:20 p. m.
Ar. Franklin, Special Train 2:00 p. m.
Returning leave Franklin 4:00 p. m., Tallulah
Falls 6:53 p. m., Lula 7:36 p. m., arrive Athens
9:10 p.m.
Round Trip Fares to Tallulah Falls $1.50
And to Franklin and Intermediate Points $1.75
SOUTHERN RAILWAY
SYSTEM
TourMiJJion Women
Do Their Cooking-
Easier, Qzzzckemzta ,>%
MoreEconomicalljL
with. the.
NEW PERFECTION
Oil Cook Siove ancf ^
FIRE PROOF OIL, 41
(KEROSENE)
Four million women are doing No ashes. No drudgery. No
their cooking easier, quicker, handling of coal, wood or ashes,
better and more economically by Just like cooking'with a modem
using the famous Blue Chimney city gas range.
NEW PERFECTION Oil Cook -
Stove and FIRE PROOF Oil Your own deaIer will be_ glad to
(Ktmnt.)
You can cook or bake anything
that can be cooked or baked on
any other type of stove. And
do it with more comfort, less
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show you the NEW PERFEC
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Ask to see the SUPERFEX
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quick cooking and baking.* ,
Oil Company
BERNSTEIN BROS. - Furniture Dealers
Sells the Complete line of NEW PERFECTION OIL
RANGES with SUPERFEX BURNERS
SEE THE DISPLAY IN OUR STOVE DEPARTMENT
BROAD STREET • *■ 't5.
