Newspaper Page Text
PAGE SIXTEEN
FLAGRANT INJUSTICE
TO WASHINGTON.
The \ailroad Commission Sustains
the Ga. R. R. in Its Unjust
Claims Against Washington
Compress.
One of the most striking evidences
of Washington’s need for better
railroad facilities and competitive
freight rates was afforded in the de
cision rendered by the R'ikoad Com
mission of Georgia in the case of the
Washington Compress company ver
sus. the Georgia Railroad.
The case which was taken up bv
the local compress company, through
their attorney, Hon. F. H. Colley, be
fore the railroad commission, grew
out of the charging of an additional
4 ‘local freight rate” on all cotton
that vas floated into Washington
for compression here and from this
point to go out to the ports or inte
rior mill points. This additional lo
cal rate was not charged in the cases
of Covingto i and Athens, towns that
are similarly situated to Washington
in regard to cotton collection, but
with the exception that both of the
above named cities have competing
transportation lines.
It was the contention of the
Georgia Railroad in the hearing be
fore the railroad commission held
several weeks ago, that in the cases
of Covington and Athens they di 1
allow cotton to be floated into these
cities without an additional local
freight rate because they had to meet
competition at these points, but in
Washington they monopolized mat
ters, be ; ng the only connecting rail
road, and they didn’t have to meet
competition here, hence they would
exact every penny that was coming
to them, regardless of the enterprises
that would be throttled by such arbi
trary practices.
After practically a month’s de
lay, the Railroad Commission of
Georgia has notified the Washington
Compress company of their decision
in the matter which sustains the
point of the Georgia Railroad. In
explaining the delay the Railroad
Commission cites the fact that final
determination of the matter has been
delayed thus far “in the hope of
finding some way in which it could
biing about some improvement in
the present adjustment of things for
the benefit of your people.”
Despite the fact that the commis
sion has cherished itch a fond hope
of ameliorating the local conditions,
by its decision which has just been
made known to the local company,
fully 15,000 bales of cotton will an
nually be diverted from this city
which means a loss from the chan
nels of trade from this one source
alone of nearly $5,000. —Washington
Reporter.
PARCELS POST? OH, NO; NOT
WHILE LITTLE OLD ADAMS
EXPRESS CUTS MELONS
A MILE THICK.
New York. —When John Wana
maker was postmaster general he
said the only reason this government
did not operate a parcels post sys
tem was the fact that the express
companies were opposed to and able
to prevent such action. Why they
are opposed to it is explained clear
ly enough by the monumental divi-
WATSON’S WEEKLY JEFFERSONIAN.
dend of 200 per cent or $24,000,000,
declared by the Adams Express com
pany.
In the last ten years stockholders
in that concern have received divi
dends aggregating 376 per cent.
The regular dividend for many
years has been 8 per cent excop
in 1898, when it was reduced to 4
per cent. The reason for the reduc
tion was that in 1898 the company
declared an extra dividend of 10
per cent.
Inquiry regarding the company
here shows it to be one of the mos
shrinking of enterprises. Corpora-
tion books of reference say it i
“a voluntary association formed in
1854.” The authorized number o'
shares is 120,000, but they have no
designated par value. Wall stee l ,
for its purpose, assumes them to
have a par value of SIOO.
The organization operates exprrs
routes m some 35,000 miles of rail
road. The officers are: Presdeot.
Levi C. Weir, New York; vice-presi
dent, W. H. Damsel, Chicago; secre
tary, Horatio H. Gates, New York,
and treasurer, Basil W. Rowe, New
York. Instead of directors the as
sociation has a board of managers,
the best known member of which is
Chas. Steele, a partner in the fi m o'
J. P. Morgan & Co.
The 100 per cent dividend of 18 8
was in the form of collateral trust
debentures drawing 4 per cent inter
est and falling due in 1948. Th ■
present dividend consists in handing
to stockholders collateral trust 4 per
cent distribution gold bonds, payabl
in 1947. The surplus of the co 1 -
pany as it accumulated has been in
vested in securities, and it is claimed
their earnings, as well as the income
of the company, have served to pile
up the $24,000,000 fund which is
now to gladden the hearts of the
stockholders.
A report has been published that
the interest on the bonds would be
paid from the receipts of the ex
press company. When President
Weir was asked about it he smiled
and said:
“The bonds will board themselves.
The interest upon them will be met
by the income from the securities
deposited with the Standard* Trust
Co.”
Asked to reply to the ciiticism th” t
tlm existence of the great surplus
was an indication that express
charges have been excessive, he said
the big fund was explaineel by the
fact that the company has been in
existence over 50 years, and that it
also has been very fortunatepn th?
investment of its surplus earning .
The market value of Adams Ex
press -company’s stock is a little ov
er S3OO a share.
Stirred by this bonanza, the stock
holders of the United States Express
company have also hit the trail for
an extra dividend. A committee of
the stockholders has issued a circu
lar that is the beginning of a sur
plus exceeding $8,000,000 that has
been piled up by that company.—
The Atlanta Journal.
There is no reason under the sun
why Chicago should not become the
greatest ballooning center on th*-
globe. We’ve got the wind.—Chica
go Inter-Ocean.
Two $350 New Upright Mahogony
Becht Pianos—FßEE
In Even Exchange for the TWO OLDEST PIANOS in the State of Georgia.
OUR REASON
We are desirous of obtaining the two oldest pianos that are in actual
use in Georgia for exhibition and advertising purposes, and in order to se
cure them we make the above liberal offer.
There are hundreds of old pianos in actual use in the state and the
owners perhaps have no idea how old they are. This will be an opportuni
ty to secure a beautiful $350 Becht Plano.
It costs you absolutely nothing to enter your piano in this contest.
THIS IS ALL YOU WILL HAVE TO DO-—READ CAREFULLY.
First—-Any old Piano is eligible. order to be sure that no mistake
Second—But It must be in actual will bv made, we will send one of
use. our experienced representatives to
# examine each and every Piano
Third—No Piano that has Deen that in our estimation appears to be
stored away can be entered. the oldest.
Fourth —As Piano dealers we are in Fisth —If the names of two or more
possession of data that will enable Pianos are sent, in and each appears
us to some extent to judge by the to be very old, we will be the sole
number and name of each ’THano judges as to who shall be awarded
sent in about how old it is, but in the New Brecht Piano.
(J.) THE FOLLOWING 8 QUESTIONS MUST BE ANSWERED FULLY.
Mail us this coupon for your answers:
What is the name of your Piano?....
How long have you owned it?
Where did you get it?
Is it a Square, Upright or Grand?
What is its number?....
What is your name?
What City?
Street number?
The numbers of Square or Grand Pianos are usually found under the strings on the sound
board. I; an Upright Piano, raise the top lid and the number is usually on the pin block.
In case you cannot find a number «e will serd some one to look for it, on request.
N. B.—Of course it is understood that there can be only two winners in this contest, but in
order not to disappoint any one. we will offe a special proposition for a Becht Upright Piano in
exchange for the old square. Let us acquaint you with this offer.
BECHT PIANO CO., “
r ~FREE Win PIIPED samples'.
SAMPLES Oft L L B ft r£ ft FREE
Write at once for samples of our mammoth 1907 line Os wall papers. Largest and finest stock south to select
from, ranging in pdee from 4c to $5 per roll. We save you 50 per cent from regular retail prices. We
also make a specialty of high-class decorating. Estimates furnished on out of town work.
imp °o t bbers < " I) WILLIS WALL PAPER CO.
We have Everything for your C omfort During the Hot Weather.
REFRIGERATORS
ii . Good V ci]lies, $7.50
to SSO
Porch Swings
$3.90 to $4.50
| Porch Rockers
hG LL >■ 1 sl - 75 to $$
■ I Hammocks
MB rail Ice Cream Freezers,
Water Coolers,
sl-25 to $5
Lawn Swings,
* v $7.50
L. * Furniture
W; Rucjs
wß|s SIL •' ’ft’ Sa Art Squares
wß' i[ Carpcts
it ßib Matting
'"Nv 'lff House Furnish-
BB; -- ings
i- - - M Money Saved on Ev-
MB ■ lyra| erything Purchased
J ■ Os US.
•ft . X 3 Wg have a liberal
1 CREDIT SYSTEM
W if Cash is Not Con-
ven,ent -
Alarm Clocks,
BALDWIN AIRTIGHT. Special Value 75c
NEW HOME HOUSE FURNISHING COMPANY
66 and 68 N. Broad St. Phones: Bell, 1681; Atlanta, 2465.