Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1881-05-21
= . 3 . = y y ~ :
SOUTHERN ROADS.
King Col Organizes fsyndicsfe, and
secu.es Vaiuabi- Property. nv

folk and Western, aud That = ,ack
Ii ming.
Louisville Courier Journal
The advance in the price Of Sou!ber
railroad stocks has been noticeable f.
months past, and recent occurrences
New York are not li.ely TO retard th
Some stocks are more vsluab
than others but there seems to b. such
dem md for this cl.ss of investments tn
all sharein it to some extent,
There have been during the past fe
months three significant movement
which will have great influence on Sout!
ern Railroad development
NORFOLK AND WESTERN.
The first WAS the purchase Of the Altar
tic, Mississippi and Ohio, and its reorga
ization as the Norfolk & Western. Vh
roa was purchased by syndicate of \ t
York and Philadelphia capitalists. p Iuu
Der of whom were largely luteres ed in
Louisville IL Nashville. It WAS In ught
the time the property brought good phi
but the earnings Of The road have be-
large. 1t is in excellent physical cond tic
and its conn ctions are excellent. This TO,
begins at Norfolk, Va, and eatends
Bristol, tn re connecting with the Ia
Tennessee, Virginia l. Ge rgis road. II
East Tenn ssee. Virginia and Georgia e
tends from istol 10 Chattanooga, whe
it is met by the Memphis & Cnarlesll
read, which it has leased. ami VIII,
secures for it a connection with Memph
1t was u nIstteF of surprise 10 ali TaIir0i
men than McGhee and Wilson. who c.
trolled The East Tennessee, Virginia
Georgia road. shou i'd we failed to se,u
the Norfolk & Western. The purchase
1t BIZ n rival woald throttle that trunk lin
For some time the MEG zee combinuti,
and the l.. & n. have heen working ha
moniou- Is, and it is probablet ey viii co
tlnue to do so TIE E t Va u Ga.
own the line f.om Knoxville, which is
connect with the Knoxville extension
the L & n. The busrn IS of the E I. '
& Ca is also OF great and increasing vail
TO the Norfolk IL Western, and SO 1t is
the interest of all concerned TO E.sinta
friendly relations. Yet it i pla n u
Managers If this cum binatiun made
seti IL mi-taA in allowing the control
The n Jrfolk s. " estern TO lass rom tier
TIE second significant movement III Il
Sou b Was
by Mr.. Wadley, full particulars of whiI
have been givtn in tue Cour eF-J uurns
La hi. lease Valley has had the approN
it not the active ca operation, of ths l..
N I he South Carollna road Is, O. wilI
as soon u, organized, part Of this c"mt
nation, and thus it will control hli Z
spproache. 10 the three most Impo IN
> ulh Atlantic ports, Savannah, p
Roy al and Char ieSton giving them {
power to make rates in spite Of coast COZ
clifton to u org and ) uth CarQl'n
and secudn themselves against any p
STOLE rival com bInatiOn III TIA. terr tor
rne lease of The Georgia Fua! IS on tzsr
wnich will enable il to declare l 7
cant. dividend and retire n p rsiun %
bonds yearly: cons quently the so
which only few Oh,hs ago WAS aop
par is now in demand at 1850 Sever
per. ons in Louisville were fortunate pu
chasers several weeks ago.
COLES COMBINATION.
The third com binatiuD i justannounct
| t . full particulars can not Jet G obt4
| d, 6ut enough Is known 10 iudic#te SON
| tnIng of its inheritance. While |
McIhee Wilson Cola combinatian /
| b8en q very strong one in many = siects,
! has lacked cohesion, aud it has been
| desire OF Col Cole to muKa it N re co
pact Had this object be II Carried
| several months ago ne Norfolk u We
| ern wCuli not have b sen allowed to 81
| through its fngers A syndicate has b.
| formed BY Col. Cole, McGhee. Geo.
! Baltimore to purchase all the lines G.
trolled or leased by The ola NJ Chs
wilson comb at on, and to build sew
| huLdre miles of new road. 4 he sto,k
| tn s> Indicate, amounting to Sl6 0OG
was all taken last week, and The purcn,
| of the roads was made then The liz
| owned by the new combination are Us
| lows:
Neon s. Brunswick, which exier
| from Brunswick, Ga { which may q s. ii
| become II port of s me imp0r,aucal
Macon, and II is thought this line will
extended to Atlants,
Selma, Rome & d .lton which exter
ON selma through ROME, Ga, to Dtlt
and fro u there il Is extended to Cievela
station, little northeast OF Chattanooga
the E. T v s. G.
Memphis & Chsrlestcn, wlil
crosses The L u n line a. Decatur on
wy to Oh at nooga.
E. T, Y. & g., which has already be
described in THIS article.
Gel Cole SAYS the line from Macon
Atlanta will be completed by January
and from Rome south to ALBANIA by |
lst of March Ii is SAID the comp elton
| the system will make necessary the bull
| ing of about NJ miles OF new road, @
that contract has already been III ,
for the delivery at Brunswick CONNIE
cling Novem Der |. or LOCO tons OF st,
rails Col. Cole says will his Obi
and the object of thos4 as ~Ociated with nh
to develop the bu mess of the country
the natural hsnnel's oftrade, antag ,nizj
no cial interest
Dispatches from New York Indicate ii
| this Is not tn whole story, and the bel
is very general here IN l. ui,v lie hat Il
! Cole syndicate will make either c0nsu
| d-tion nr an alliance with tbs NoTf Tx II
| Weste' n, as far as that could be
| without an'agoa ling the l. Ili>vila
n shelle. and pour all the business it c
obtsin from Memphis Selma md AlIan
into Norfolk over the Norfolk ana We
ern. TBis belief is sLrerg hened by /
steady advance of Norf TX & Weste
stock. A few weeks sg it was thirty fv
sixty five; yesterd y it closed 1T sevenl
and, if euch an alliance is formed, it W
carry the stock even higher
HOW WILL IT AFFECT LOUISVILLE?
This com bination may divert some IF t
business which the LDui-vIile and \ sh vi
now carries to New orleans IT, Nortoi
but this will be more than conren attd
bg the stimulus it will give to businese
through the section through which it III;
c q