New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-01-21
UNION or RATLRO4D INTERESTS.
PURCHASE OF THE CHATTANOOGA RAILROAD BY
TIE LOUISVILLE AND NASHVILLE COMPANY
TIE FEELING IN SAVANNAH.
IBr TELEGRAPH TO THE TRrnUSE.l

PURCHASE OF THE CHATTANOOGA RAILROAD BY
TIE LOUISVILLE AND NASHVILLE COMPANY
TIE FEELING IN SAVANNAH.
IBY TELEGRAPH TO THE TRIBUNE.l
SAVANNAH Ga, Jan. 2O.-Great excitement pre-
walls az to the Louisville and Nashville Railroad
having purchased a controlling interest in the st
Louis. Nashville and Chattanooga Railroad. The
stock Of the Central Railroad of Georgia is depressed
by reason of the uncertainty concerning the action
To be taken by those who now control the Nash
VILE and Chattanooga Railroad. lt is not known
whether they Will accept, modify or set aside the
contract made with the Central Railroad. The
people Of savannah seem 30 have lost confidence
Great dissatisfaction prevails. The Central stock
is far down, and still on the decline.
The Louisville and Nashville Railroad Company
has secured by purchase Of n majority of the stock
a controlling intcrcs; in the Nashville Chattanooga
and ST. Louis Railroad. The contract for
the purchase of the stock was made late
Saturday afternoon. The details of the agreement
the officers Of the company refuse to make public
II is known. however that the Louisville and Nash
Vile Company has bought from certain large hold
ers of the stock of the rival company few hundred
shares more than majority Of the stock. For this
stock the purchasing company has agreed TO pay
T}97J. 900 A. the capital stock of the Nashville,
Chattanooga and St. Louis Company Ia less than
So, 900 900 and majority OF tho stock, In full
shares, less than 5000 shares, IL appears
that the price agreed to be paid Is about l2O. or
the purchase money about One-thlru Is 10 De palu
today at the time OF transfer; on the remainder
time has been given. The organization of the Chat
tsuooga Company will be maintained, and the ac-
counts will be kept separate.
The transaction ends the rivalry that has long
existed between the two companies. y the control of
the Chattanooga Company the Louisville and Nash
vile will have az its option the lease of the Central
Railroad OF Georgia. extending from Atlanta To
Say Apnah Atlanta has been long important DIS
tributmg point, and tho Louisville and Nash
vile road reached IL only by a circultous
route. The road from Decatur 10 Montgomery
was built at great expense to gain an entrance to
Atlanta. The Chattanooga Company recently
effected lease OF tho Central Railroad of Georgia
which is said to have been ratified by the latter
company.
The Louisville and Nashville Company will gain
also an independent line to st. Lous
aud, by the main line of the Chatta-
nOoga load, connection with the st. Louis. Iron
Mountain and Southern Railroad at Hickman.
Having recently bought the Mobile and Mont0om-
cry Railroad il will also reach Mobile, but the line
from that city to NcwOrcans has not yet been Sc
cured. The louisville Ncw-Abany and Chicago
Road Is held, IL is claimed, by friends OF the Louis
Vile and Nashville Company. This road touches
the lakes at Michigan City and connects. at short
distance from that point. with roads To- ChlcaR0'
These connections give the Louisville and Nashville
Company n through line from Chicago 10 Mobile.
II ~ claimed by friends of the company that tho
control of the Chattanooga road will be OF great adj
vantage 10 the company that the rivalry between
the two companies has intcriered LARGELY with the
prosperity Of both and that under one management
botn systems Will be improved