Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1880-06-24
NEW RAILROAD SYNDICATE.
From the New York Tines.1

A vast railroad combination, with the
Richmond and Danvile and the Richmond
and York River Roads as the basis, has been
formed in the South, negotiations for which
have been in progress for eighteen months. A
number of prominent capitalists are interested
in the enterprise, and have embarked in it
more than $2O,O00,000. Among these are
Mr.. Thomas Clyde of Philadelphia, John
and Daniel K. Stewart of Richmond, Va,
the Messrs Walters & Newcomer of Balti
more, Nd, Mr.. H. B. Plant of New York,
Messrs. r. r. Wilson q Co., also of New
York, Mr. Charles M. McGhee of Tennessee,
Mr.. w. P. Clyde of New York, Mr.. William
H. Palmer Gen. T. NJ. Logan, James T.
Gray, A. Y. Stokes and Thomas Branch &
Co., of Richmond, Va, and other well-known
gentlemen in the South and Southwestern
States. This combination will seek to control
all the through traffic to and from the sea-
board, in the States of Virginia, North Caro-
lima, South Carolina, Georgia, Tennessee,
Northern Alabama, and Mississippi, striking
deep water on the Chesapeake Bay at West
Point and Norfolk. This immense system of
railroads is the counterpart Of the Louisville
and Nashville system, which reaches the
seacoast at Charleston and Savannah, and
covers large extent of country. The pur-
chase, some Is months ago, of the Charlotte,
Columbia and Augusta Railroad by the
Pennsylvania Railroad Company, the Rich
mond and Danville Railroad Company, and
Thos. and William P. Clyde, was the begin
ing of this movement The second step was
the formation of syndicate, composed of
New York, Philadelphia, Baltimore, and
Richmond capitalists, controlling among them
the Richmond and York River Railroad, the
East Tennessee, Virginia and Georgia Rail-
road, and the Selma, Rome and Dalton Rail.
road, with numerous branches, extensions and
connections. This syndicate was formed to
purchase all the railroad interests Of the
Pennsylvania Company south of Richmond,
which gave to it the control Of the Richmond
and Danville Railroad, with its leased roads
in North Carolina, running from Richmond
to Danville, embracing the Piedmont Road
from Danville to Greensboro, N. c., and the
North Carolina Railroad from Goldsboro
to Charlotte as trunk line, thus affording an
outlet through Richmond to deep water for
the entire system. This was followed by the
purchase of the controlling interest in the
Greenville and Columbia Railroad Company
of South Carolina, and by arrangements for
securing the immediate completion Of the
Western North Carolina Railroad, from
Asheville, N. c., to Paint Rock, Tenn,
which makes another link connecting the
roads lying west of the Blue Ridge mountains
with those east of the Blue Ridge, and at the
same time affording the shortest practicable
route between the Northwest and the States
of the Southern seaboad. The Richmond
and York River Railroad, composing a sec,
tion of the trunk line of this combination,
extends from Richmond, Va, to West Point,
Va, on the Chesapeake Bay, distance of 80
miles This road is operated in connection
with the Richmond and York River line Of
steamers. 1t was destroyed during the mill.
tary operations of 1862, and was rebuilt in
1867. The East Tennessee, Virginia and
Georgia Railroad extends from Bristol,
Tenn, to Dalton, Ga, with q branch from
Cleveland, Tenn, to Chattanooga, Tenn, a
distance of 270 miles, with about "a miles of
side tracks This line was formed by the
consolidation in 1869 of the East Tennessee
and Virginia Railroad, chartered March g.
1S49, of the East Tennessee and Virginia
Railroad, chartered March 6, l849 and open
ed June TO- 1855, with the East Tennessee
and Georgia Railroad, chartered February
4, lS4S, and opened October Is. 1856. The
branch road to Chattanooga, % miles in
length, was originally separate road, but it
was acquired by the East Tennessee and
Georgia on its completion. The Rogersville
and Jefferson and the Cincinnati. Cumber'
land Gap and Charleston Railroads were
purchased at foreclosure sale for the non
payment of interest on the State mortgage
lien in 1871 This line includes the Western
North Carolina Railroad to Paint Rock
The line Of the Memphis, and Charleston
Road extends from Memphis Tenn, to Stew
enson, Ala, a distance of 271 miles. II