VOL. 14
CHERRYVILLE, N. C. THURSDAY, NOVEMBER 18, 1915
NO.50
The Culmination of a Movement which
Brought about the Consolidation of Two
Great Rail Road Properties
in the South.
A special meeting of the, traverses. The Southern direet-
stockhoiders of the Seaboard; ovs are Robt. F. Maddox and
Air Line Railway to be held in | Mills B, Lane, of Georgia, A. H.
the office of the company in‘Woodward, of Alabama;’,!, P,
Petersburg, Va., on Monday, | Taliaferro, of Florida; George
the 15th instant, marks the j W. Watts of North Carolina-
culmination of a movement i Fergus Reid, W. J. Harahan and
which has brought about the! Charles R.
consolidation of two great rail
road properties in the south—
tne Seaboard Air Line and the
Caiolina-Atlantic and Western
railway. By the acquisition of
this 331 miles of railroad and
the construction of 85 miles of
new railroad between Charleston
and Savannah, now under way,
Capp.s, of Virginia.
In the board are also J. William
Middendorff and Townsend Scott
of Baltimore and Mr. Warfield,
chairman of the board and of
the executive and finance com
mittees.
Scopcs of the Plans.
The plans which were worked
out and prepared by Mr. War-
the Seaboard Air Line Railwayij j ■ ’
company gains entrance into two^ unanimously approved
additional important south
Atlantic ports-^Cliarleston and
Georgetown--and gains a low-
grade main line from Hamlet,
N. C. to Florida potnts via
Savannah, procuring to the Sea
board great economies in opera
tion and putting to its credit the
only new railroad extension
which has been made in the
''south since the outbreak of
the European war- the 85
miles now being constructed
between Charleston and
Savannah, The completion of
this link, now rapidly under way,
gives the Seaboard by far the
shorter line irom ji.
Florida and puts it in a cou.mand-
ing position for Florida travel
and traffic from the east.
It is understood that the Sea
board stockholders’ meeting will
ratify the proposed plan which
has already been ratified by the |
stockholders of the Carolina-
Atlantic and Western railway,
which becomes a part of the
Seaboard Air Line railway
aystem.
A very large percentage of
Ihe total capital stock of the
Seaboard is already in hand to
be voted by proxy at the special
stockholders’ meeting.
Work ol Wariield.
Three years ago S. Davies
Warfield, tue Baltimore financier
a native of the South, and closely
Kilated to its tradition and his
tory, conceived and put into
execution and the plan for the
acquisition of the large holdings
of Seaboard stock then in the
hands of New York interests.
(Mr. Warfield becoming the
largest individual stockholder
and chairman of the board of
directors. This was far-reach
ing in its purpose, not only pro
viding for rotating the control of
the stock in the hands of the
people of the south, but the in-
iroduction into the board of
directors of leading business
men of this section, the removal
of the executive offices from
New York to the south and the
selection of a southern-born rail
road president whose successful
career insured to the system an
experienced operating head.
W. J. Harahan being chosen.
At the head of the traffic depart
ment as a vice president is an
other native of the south.
Charles R. Capps, who for over
twenty-five i ears has been
identified with this property,
successl'ully advancing from a
minor position to the important
place he now occupies.
When this was accomplished
Mr. Warfield undertook plans
for permanently financing the
property and liberally taking
care of its needs for the develop
ment of the territory which it
by the board of directors in
August last are far-reaching in
their results. Not only are the
financial requirements of the
property cared for but the
financial structure is simplified.
The mileage is increased by
1416 miles of new railroad in
cluding the entrance into two
additional seaports and a second
track over an important part of
the system.
The new company to be form
ed by this consolidation will exe
cute a mortgaee authorizing! an
issue of $300,000,000 of bondil of
which will now be issued $.«5,-
^.9. OOO.HA2i'o-nof«^ op > ft”
This issue will be tne ohiy
portion of the new mortgage
brought out at this time, yl'ind
leaves over 90 percent of tile
authorized issue to take care of
the future needs of the consoli
dated system. This indicates
the permanent character of this
financing.
In connection with the present
issue Mr. Warfield has brought
together a strong syndicate of
investors, the new - issue of
bonds being sold to a banking
syndicate headed by the
Guarant.y Trust Company,
National City Bank, Chase
National bank and Bankers
Trust Company of New York,
the Continental Trust Company
of Baltimore and other financial
institutions in New York, Balti
more, Chicago, Boston, Phila
delphia, Pittsburg, Savannah,
Atlanta, Jacksonville, Birming
ham, Tampa, Norfolk, Charlotte,
Raleigh, St. Louis, Cleveland,
Cincinnati, San Francisco, Mil
waukee, Detroit, Louisville,
Columbia, Seattle, Denver, New
Orleans. Bufi^alo, Syracuse,
Rochester, Wilmington, Newark
and Albany.
Mr. Warfield’s plan to have
the Seaboard a strong southern
property has been followed with
such success that the wisdom of
this policy is recognized and in
dorsed by the investment which
these bankers have agreed to
make in this property. This is
a striking and eventful, chapter
in the development of a railroad
of the south attracting wide
spread attention because of the
magnitude of this financial under
taking completed by Mr. War
field in the face of the conditions
at the time brought about by
the European war.
Mr. Warfield’s Statement.
At the time the directors of
the Seaboard approved the plans
submitted by the chairman, Mr. |
Warfield said:
The Seaboard Air Line rail
way will be consolidated with
the Carolina Atlantic and
Western railwaw under the
corporate name of the Seaboard
has jAir Line Railway company. The
I Carolina Atlantic and Western
railway is a recent consolidation
of ti>e North and South Carolina,
Charleston Northern and South
Carolina railroads operating a
total of 416 miles. The Carolina
Atlantic and Western railway
recently acquired the George
town andWestern railroad, oper
ating from Lanes to Georgetown
S. C., and from Andrews to the
Pee Dee River, South Carolina
a distance of 70 miles. The
Charleston Northern Railway is
the line recently completed, con
necting the North and South
Carolina railroad with the city
of Charleston,, giving the Sea
board entrance into Charleston,
and now becoming a part of the
main line of the consolidated
system. The new terminals at
Charleston are admirable, both
as to'location and facilities.
“The line will be extended
from Charleston to Savannah by
the immediate construction of 85
miles of railroad with a maxi;
mum grade of only 3-10 of 1 per
cent. This new line will also be
come part of the main line of the
consolidated system.
“This will give the Seaboard
Air Line Railway company~the
new company growing out of
the consolidation of the above
mentioned properties—a low
grade line from Hamlet. N. C.,
to Savannah, Ga. By this new
line the Seaboard will reach
Georaetown, S. C., Charleston,
S. C.. and Savannah; will tap a
rich and fertile territory, highly
w’llf "”o\=&t.Wc.-s i
running time to the south being
shortened; will create aline with
the maximum grade of only 1-2
of 1 per cent, as compared with
1 1-2 per cent.^the maximum
grade of the present line Savan
nah—and will permit the increase
of the full train-load 127 1-2 per
cent. In effect, this will give the
Seaboard, through South Caro
lina, from Hamlet, N. C., to
Savannah, Ga.,*two lines (the
other lines running via Colum
bia). each one self-supporting
in its own territory. In this way,
also will be obviated the necess
ity of double-tracking the Ham-
let-Columbia line, where traffic
is becoming congested. The
territory to be opened up between
Charleston and Savannah is gen
erally well adapted to the grow
ing of vegetables, corn, rice and
sea island cotton, and will put
the Seaboard immediately into
Charleston’s heaviest vegetable-
producing section.
“The Seaboard Air Line Rail
way company—the new company
—will have a first and consolidat
ed mortgage, securing an author
ized issue of $300,000,000 bonds,
of variable interest rates and
maturities. This mortgage will
be immediately a first lien on
the 416 miles of main line track
between Hamlet and Savannah,
via Charleston, Lanes and
Georgetown, S. C., located on
the Hamlet-Columbia line, to
Florence, Poston, Sumter and
Timmonsville, S. C. There will
be pledged as collateral under
the new mortgage a majority—
$22,361,000-of the outstanding
refunding 4 per cent bonds of
the Seaboard Air Line railway.
“There will be issued presently
under the new first and consoli
dated mortgage $22,893,000 6 per
cent 30-year gold bonds. A part
I is to be used in exchange for un
derlying bonds of constituent
companies. The balance has been
sold, the proceeds to be used for
the construction of the new line
from Charleston to Savannah; for
the retirement of equipment trust
obligations falling due during
“Fear Men.”
Ten-Acre Farms.
Bradstreet’s is authority for
the statement that only three
per cent of men who go into
business for themselves are
successful. It is safe to assume
that the proportion of successes
in other fields, art, music, au
thorship. politics, social work
etcetera, is as small. The failures
are made so through FEAR.
Fear of consequences, fear of
the future, fear that we cannot
finish successfully what we be
gin, fear of our opponent, un
necessary, illogical fear stands
between us- and success, and
with an apparently impassable
arm bars our progress. Those
whom fear rules we call “Fear
men,” because they are not
realy men at all, but men re
quiring a classification an
apology. There has hardly been
a time in American history when
men were called on'rhore to over
come their fear than at the pre
sent time. Moral strength is
needed in politics more than ever
before, and moral strength is as
far superior to physical strength
as the spiritual is above the
natural. It is told of Wellington
that, before the battle of Water
loo, his knees shook so that he
laughed and called attention to
them, saying; “If they knew
where I was going to carry them,
they would shake much worse.
That was moral courage over
coming physical fear, and this
is the ^ rMori .
have upward. We must
have moral courage to overcome
the selfish persuasion of the
politician, who seeks his own ad
vancement regardless of the
public good. Courage is needed
to overcome the fear that organ
izations and societies and leagues
cause by their tactics of force
and threats in their efforts to en
force morality by law. Moral
courage is necessary to make
men follow the dictates of thier
own conscience, regardless of
the arguments of politicians,
leagues or individuals. The time
has come for American men to
throw off the fetters of fear to
come out boldly for what they
believe, to refuse to follow^ the
selfish, money grasping politician
or organization and to stand
strongly for progress, liberty;
decency and social liberty.
the year ending June 30 1916;
for the retirement of the $6,000,-
000 3-year notes due March 1,
1916; for the acquisition of cer
tain new property, and for im
provements, betterments etc.
“It was believed to be the
best interests of the property to
make immediate arrangements
for the near future, as well as
for present financial require
ments. In the financing of the
nations at war, interest rates
ha/e already materially increas
ed, necessitating the procuring
of large amounts of money for
American enterprises on an in
creasing interest basis.”
Securities Already Advanced.
As outlined in the foregoing
statement by Mr. Warfield, it is
pointeS cut that under the new
financial plans and consohdation
all classes of securities of the
Seaboard Air Line railway would
be greatly benefitted not only the
bonds of the railway and its con
stituent pioperties; but both
issues of preferred and common
stock would be made more valu
able. That this is generally re
cognized is evidenced by the
large increase in the market
quotations of the stocks, and all
Seaboard securities, resulting
after the knowledge on the part
of the stockholders of the value
to the securities under the pro
posed financial arrangements
and as additional evidence of the
manner in which the plans bave
been received by the stockhold-
I ers.
The superintendent of the
Detroit schools says that any
thoughtful man who will in
vestigate the subject must be
convinced, that in the near
future, perhaps in the lifetime
of the .children now attending
school, hundreds of thousands of
Americans must know how to
make a living from 10 acres of
land, if disastrous conditions are
to be avoided, and it will be im
possible for them to do it unless
they are taught the essential
elements of agriculture in the
schools. He therefore advocates
the teaching of agriculture in
the city schools as well as in
the country districts. All efforts
to get city people with only
city training, to go to the
country will prove disastrous.
Such a man, if placed on a
farm, would be like a ship at
sea without a rudder, the
captain dead, the crew without
a navigating oflicer.
It is also believed that a popu
lation so trained that it could
make a comfortable living for
a family on 10 acres of land
would force down the price of
land. Now when the average
family thinks that it must have
from 80 to 640 acres there is not
land enough to go round, and
the competitive bidding runs it
up to $200 or more per acre. The
consequence is that there are
- -i.-Oia. ■JJJnrloa r-
farming there is not one man
out of a thousand in the United
States who could support a
family on 10 acres although
there are thousands in France
and Denmark who do it. The
knowledge of how it can be
done is contained in the hun
dreds of scientific documents
stored away in vaults in Wash
ington, few of them ever reach
ing the people and most of the
people could make no use of
them if they were sent to their
homes, because of the want of
an education that would enable
the ordinary farmer to under
stand them.
For these reasons it is urged
that if this Nation is to continue
to prosper the educational
course in the schools must be
radically changed, or the coming
years will see more unemployed
and more political and social
upheavals.—The Omaha World.
[Resolutions of
Appreciation.
WHEREAS, Rev. W. T. Usry,
having served out his quad
rennial term on the Gherryville
charge M. E. Church, South;
and
WHEREAS, By statute of
limitation it devolves upon Con
ference soon to convene at Reids-
ville, N. C., to remove him from
us; therefore
BE IT RESOLVED, That the
five churches of the said Cherry-
ville Charge M. E. Church,
South, hereby tender to him and
his family their heartfelt thanks
for and appreciation of their
noble and untiring services
among us. We deem it alto
gether fitting that we give
public expression to our feelings
in this matter and adopt this
means of so doing.
BEIT FURTHER RESOLVED,
That a copy of these resolutions
be sent to the North Carolina
Christain Advocate and a copy
sent to the Cherryville Eagle
for publication, a copy be present
ed to the Presiding Elder of the
Shelby District and a copy given
to our departing brother and
pastor. Rev. W. T. Usry.
Board of Stewards
Bethlehem;
C. E. Carpenter
C. A. Fislier
C. S. Eaker
" lah:
: s. R. Wolfe
W. I. Wolfe
C. Harmon
H. B. Ehyne
Cherryville:
J. C. Ballard
W. J. Allran
s. C. Hendricks
H. C. Harrelson
T. B. Leonhardt
W. D. Gates
Mary’s Grcve:
Miler Sneed
Grady Sellers
A. W. Warlick
Augustus Black
A. H. Black
St. Paul’s;
Jno. W. Craft, Jr.
Raven Craft
J. A. Baker
W. F. Sisk.
Sad Death of Beautiful Child.
The many friends here of Mr.
and Mrs. Chesley McGinnas
sympathize with them deeply in
the loss of their little son, S. C.,
aged 1 year 6 months and 11
days. The little boy died- at
the home of his parents in Char
lotte last Wednesday night after
an illness of only a few days.
The little body was taken to
Shelby for burial last Friday.
The funeral services were con
ducted by Rev. Abernethy of
Shelby.
Little S. C. was the only child
of its fond parents and was a
great favorite of its grand
parents.
Monuments—Jesse Caldwell
The report of the number of
bales cotton ginned by counties
in North Carolina, for the crops
of 1915 and 1914 was made
public for the State at 10 a. m.
on.Monday, Nov. 8. The report
shows that Gaston county had
ginned 3,740 as compared with
4,138 in 1914.^ Robinson county
heads the list with 34,036 this
year as compared with 40,612
last year.
Thanksgiving.
Lincolnton, N. C., Nov. 15, 1915.
Whereas, our kind Father
above has blessed us with peace
and plenty, and in recognition
ot this, the President of the
United States and the Governor
of North Carolina have set apart
Thui’sday, November 25th, 1915,
as a National Thanksgiving Day;
I Zadok Paris, President of the
North Carolina Orphans’ Associa
tion, do respectfully ask every
citizen of North Carolina,
irrespective of color, politics or
religion, to set apart one day’s
earnings to be sent on Thahks-
giving Day, to the Orphanage of
his choice, or some needy Orphan
in his community.
Z. PARIS, President.
Lincolnton, N. C.
Count Hueseler, a swiss mili
tary statistician, calculates the
total losses in killed in the
present European war at 5,000,-
000. We can form same idea of
this vast number when we con
sider that it would make 50 arm
ies of 100,000 men in each army.
Piles Cured In 6 to 1-4 Days
four druRifist refund money ^4^0.
OINTMENT fails to cure any case of Itchmsi
Blind, Blcedineor Protrudin* Pllea *“6 to 14 darjc
The firet» pplication Kives K«*e «»«