Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1879-04-10
THE TENNEssEE DIVISION
or the 81, Louis and south eastern Rail-
road SOld to the Louisville and Nash
VILE Railroad for $S25,O0O-
What Vtce-Prs sident
NewcOmb says.

LOUISVILLE, April 9.-The truth of the
rumors which have prevailed for some time
relative to the acquisition of the Tennessee
division of the st. Louis and Southeastern
railroad by the Louisville and Nashville was
to-day confirmed. This coup d'etat of the
Louisville and Nashville promises great
sensation in Louisville In an interview to-.
dayjs ce-President Newcomb saysSSit took
place at noon at the Federal court at Nash
vile, when it was discovered that the Louis
vile and Nashville had absolute control and
possession of the securities of the Tennessee
division of the Southeastern, under secret
contract effected with the bondholders during
Mr.. Newcomb's recent visit to New York.
For the numerical miles, the Tennessee divis-
ion of the Southeastern, which extends from
Guthrie to Nashville, is perhaps the most
important line or the continent. 1t is the
key to the commerce of the Ohio valley, and
its possession by the most powerful corporation
south of the Ohio river gives the Louisville
and Nashville road absolute dominion over
the territory covered by its own and con-
Meeting lines. The sagacIty displayed by the
Louisville and Nashville company in getting
possession of this line is universally con-
ceded. In reference to the policy the Louis
vile and Nashville company will pursue to-
ward rival and competitive lines Presi-
dent NewcUmb, in the interview alluded to,
sa,d: 1--WE have sought to control this i'm
portant line in the interest of our stockhoid
ers and to maintain the geographical posi-
non of Louisville against unjust discrimina-
tons. We desire peace and harmony with
all our nelghbors. The clamor raised by
Evansville, st. Louis and other cities is cause
less and without reason. Equally so is the
pertuberation displayed by some of our good
railway friends. 1t shall be our earnest en-
deavor to harmonic all conflicting interests
and to render equal and exact justice to all;
we shall advocate the maintenance of
Just and equitable tariffs, and demand moth
ing for Louisville other than that which her
geographical position entltle her to claim.
Evansville and other cities will find their
trade benefited by the increased facilities we
shall be enabled to extend to them. We want
all the business that Evansville, st. Louis and
other points can give US, and by increasing
and developing their trade we increase our
own business and revenues" Of low rates,
Mr.. Newcomb said: 1.-The low rates which
break down and bankrupt the common car
rlers do not benefit any one, and are not de-
sired by the public. Having acquired the
road from Guthrie to Nashville, we shall en-
deavor to extend all the facilities to COM
merce and trade reached by our road proper
and its connections" Mr.. Newcomb is very
reticent concerning the rumor that Louis
vile and Nashville has got control
of the Montgomery and Eufaula railroad.
He says it is premature for him to discuss
this subject. But is it well-ascertained fact
that while in New York last month he per-
fected a contract with the bondholders by
which they will buy this road at foreclosure
on May LIST and pass it over to the control of
the Louisville and Nashville railroad. In
creased business thus acquired will add
enormously to the power of the Louisville
and Nashville road, and relieves any fears,
as Mr.. Newcomb says, Louisville ever had
from any competition of the Cincinnati
Southern. The price paid for the southeastern
branch bought to-day was seven hundred
and twenty thousand dollars.