Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1881-05-21
Coles Combination.

nOunced; the iull particulars cannot
yet be obtained, but enough is known
to indicate something of its impor-
lance. While the McGhee-W Wilson
Cole combination has been a very
strong one in many respects, it has
lacked cohesion, and it has been the
desire Of Colonel Cole to make it
more compact. Had this object been
carried out several months ago the
Norfolk and Western would not have
been allowed 10 slip through its fin
gers. A syndicate has been formed
by Colonel Cole. McGhee, George l..
Sency, of New York, and Walters, OF
Baltimore, to purchase all the lines
controlled or leased by the old Nc
Ghee Wilson combination, and to
build several hundred miles of new
road. The stock in this syndicate,
amounting to SIG, 000, 900, wasall taken
last week, and the purchase Of the
road was made then. The lines owned
by the new combination are as follows:
Macon and Brunswick, which ex-
tends from Brunswick, Ga. (Which
may possibly become a port of some
importance), to Macon, and it is
thought this line will be extended to
Atlanta.
Selma, Rome and Dalton, which
extends from Selma through Rome,
Georgia, to Dalton, and from there
it is extended to a Cleveland station,
a little northeast of Chattanooga Oh
the East Tennessee, Virginia and
Georgii.
Memphis and Charleston, which
crosses the Louisville and Nashville
line at Decatur on its way to Chatta-
nooga.
East Tennessee, Virginia and Geor-
gia, which has already been described
in this article.
Colonel Cole says the lin from
Macon to Atlanta will be completed
by January l, and from Rome south
to Atlanta by the lst of March. 1t is
said the completion OF the system will
make necessary the building Of about
300 miles of new road, and hal a con
tract has already been made for the
delivery at Brunswick, commencing
November l, Of 1900 tons of steel
rails. Colonel Cole says it will be
his object, and the object of those
associated with him, to develop the
business of the country in the natural
channels Of trade, antagonizing no
special interest.
Dispatches from New York indicate
that this is not the whole story, and
the belief is very general here in
Louisville that this Cole syndicate
will make either a consolidation Of an
alliance with the Norfolk and West
ern. as far as that could be done with
out a%ntagOnizing the Louisville and
Nashville, and pour all the business
it can obtain from Memphis, Selma
and Atlanta, into Norfolk over the
Norfolk and Western. This belief is
strengthened by the steady advance Of
Norfolk and Western stock. A few
weeks ago it was thirty five; last week
it was ffty.seven; Monday il was
sixty-fve; yesterday it closed at sew
enty, and, if such an alliance is form
ed, it will carry the stock even higher.
HOW WILL IT AFFECT LOUISVILLE q.
This combination may divert some
Of the business which the Louisville
and Nashville now carries to New
Orleans to Norfolk, but this will be
more than compensated for by the
stimulus it will give to business all
through the section through which il
runs. OF course this is not formed
for the purpose Of building up the
Louisville and Nashville system, and
it will only be Of advantage to it indi-
rectly, but the relations between the
two great corporations are friendly, il
not cordial, and it is said Colonel Cole
made heavy purchases Of Louisville
and Nashville stock last week. If SC
he is the better for it, as yesterday tho
stock is higher than ever, touching
1853. The advance in this stock thi,
week shows that the Cole syndicate
will not be injurious to Nashville OF
Louisville interests.