The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-06-18
rNaw Yort Timef.l

MR.. NEwCOMEK-THE CLYDE sf 'f1
&C., &C. -
New York Times.l
vast railroad combination, with the
p;chmond and DanvilIe and the Richmond
and York.River roads ~ the OASIS, mas peen =
formed IN the South, Hegotistions Tor wnicn
have been In progress for eighteen months
number OF prominent capitalists are IN
terested in the enterprise, and nave en'
barked in /. more than S20,000,000. Among
these are Mr.. Thomas Clyde, OF Pni,aas''
pbia; John and Daniel X. Stewart, o! hicn'
mond, Va. the Messrs. Walters ana New
conner, OF Baltimore, Nd; Mr.. II. u. Pian',
OF New York; Messrs. X. I. wilson Coz
also OF New York; Mr.. Charles Nj. McGoee.
Of Tennessee; Mr.. w. p. Clyde. OF New
York; Mr.. William ii. Palmer, L. NJ. Lo,
gan. James T.. Gray, A. \. stokes, ana
THONGS Branch & Co., Of Richmond, va,
and other well-kpown gentlemen IN the
South and Southwestern States. Tbls con-
bipafion will seek to control all the through
traffic 10 and from the seaboard IN Ine
States OF Virginia, North Carolina SCUM
Carolina, Georgia, Tennessee. Northern Ala
bama, and Mississippi, striking deep Wate,
on the Chesapeake bay at West Point ana
Norfolk.
This immense system OF railroads is the
counterpart OF the Louisville and NashViile
system. which reaches the seacoast at
GbarI, ston and Savannah, and covers a
large extent of country. The purchase,
come eighteen months ago, OF the Char
lotte. Columbia and Augusta railroad by
the PENNSYLVANIA Railroad Company. the
Richmond and DanvilIe Railroad Company,
and Thomas and William =. Clyde, was
the beginning OF this movement. The Sc
cond step was the formation Of syndi-
cate composed Of New York, Pbila-
delpbia, Baltimore, and Richmond capt.
ruIists, controlling among them the
Richmond and York River railroad,
the East Tennessee, Virgins and
Georgia railroad, the Memphis and Charles
ton railroad, and the Selma, Rome and Dali
ton railroad, with numerous branches, en-
tensions, and connections. This syndicate
was formed to purchase all the railroad in
terests OF the Pennsylvania company south
OF Richmond, which gave to II the controi
Of the Richmond and Danville railroad,
with its leased roads in North Carolina, rum
ming from Richmond to Danville, embracing
The Piedmont road from Danville to Green's
boro,, n. c., and the North Carolina rail-
road from GoIdsboro' 10 Charlotte as trunk
line. thus affordng an outlet through Rich
mond 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 AshviIle, n. G.,
TO Point Rock. Tenn, which makes another
link connecting the roads lying west OF the
Blue Ridge mountains with those east OF
the Blue Ridge, at the same time affordng
the shortest practicable route between the
Northwest and the States Of the southern
seaboard. The Richmond and York Eiyer
railroad. composing section OF the trunk
line Of this combination. extends from Rich
mond, Va, to West Point, Va, on the Cbes-
apeake bay, distance OF thir'y-eight miles.
This road is operated in connection with
the Richmond and YOrk-Riyer line OF
steamers. 1t was destroyed during the
military operations OF 1862. and was re-
built In 1867. The East Tennessee, Nir-
GINA, and Georgia railroad extends from
Bristol, Tenn, TO Dalton, Ga, with
a branch from Cleveland, Tenn, to
Chattanooga, Tenn, distance OF go
miles, with about "a miles OF side
tracks. This line was formed by the con-
solicitation in 1869 OF the East Tennessee
and Virginia railroad, chartered March 6,
1S49, and opened June 10. 1855, with the
East Tennessee and Georgia railroad, char
tered February 4, 1913, and opened Oc-
tober Is, 1856.
The branch road to Chattanooga. twenty
nine miles in length, was originally sepa.
rate road, but it was acquired by the East
Tennessee and Georgia on its completion.
The Rogersvlle and the Jefferson and the
Cincinnati, Cumberland Gap, and Charles
ton railroads were purchased at foreclo-
sure sale for the noD-payment Of interest on
the State mortgage lien in 1871. This line
includes the Western North Carolina rail-
road to Point Rock. The line OF the Men,
phis and Charleston road extends from
Memphis, Tenn, 10 Stevenson, Ala.-
a distance OF 21l miles. 1t has branches
to SOmervilIe, Tenn, and TO Florence,
Ala, making 500 miles OF road in
the aggregate. The Selma, Rome and
Dalton road, also part OF this system. eX-
tends from Selma, Ala, 10 Dalton, Ca,
distance OF 237 miles. The capital stock Of
this corporation was reported in the fnan-
cal statement OF 1872 at 100000. There
are many other branches and leased lines
lore mentioned. The effect OF this combi-
nation will be to give greater economy Of
operation and increased efficiency Of service
than has heretofore been possible under the
old condition Of things where the roads were
independent and disconnected. While it
secures to the owners greater protection
from competition 1t also affords the public
better and cheaper facilities.
lpfprpgtp6 ne
terprise are those controlling the coast-line
system Of railroads, including the new and
short railway lines running from Charles
ton and Savannah to Florida, and also a
number Of steamship lines trading between
Philadelphia, New York, Baltimore, aud
southern coast ports. IL also connects at
Richmond and at Danville with the railway
lines from those points to the northera and
eastern States for through passengers and
express traffic, and at Norfolk and West
Point with the steamboat lines to the north
ern and eastern ports for through aud way
traffic.
baltimore Gazcue.l
The above announcement was the Occa-
sion OF some surprise in railroad circles in
this city, although such a movement bad
long been anticipated. A representative OF
the Gazette called on Mr. b. f. Newcomer.
at his residence last evening and showed
him the Times article. After perusing it
carefully he stated that it was incorrect
so far as the formation OF q syndicate
or combination was concerned. There
hod been satisfactory arrangements made
he said, by himself, Mr.. Walters, and
several other gentlemen Of this city, and
others In New York, Philadelphia, aud
-. III