Banking
The banking side of the business was quickly more successful than the railroad side. The Georgia RR & Banking Company was perhaps the strongest bank in Georgia for many years. The bankers used some of their wealth to buy controlling interests in the Atlanta and West Point Railroad and the Western Railway of Alabama, which provided a continuous line from Atlanta to Montgomery, Alabama, although the WofA was standard gauge (4' 8½"), while all the other lines in the south were broad gauge (5' 0").
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Famous quotes containing the word banking:
“One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”
—William Howard Taft (1857–1930)