Savannah morning news. [volume] (Savannah) 1868-1887, 1883-08-01

The Richmond and Danville Purchased
avthe Seuey Syndicate.

The Richmond and Danville Purchased
nv the seney Syndicate.
4 new town on the Florida Southern,
about six miles north of Gainesville, mas
been named Hague.
The grading of the Jacksonville, Tampa
and Key West Railroad, between Jack
sOnville and Palatka, IS now nearly COM
pleted, and track-laying will soon COM
mence. The schooner Five Brothers has
sailed from New York with cargo OF $50
tons Of iron, spikes, fish-bars, switches,
frogs, etc. When the vessel arrives there
viii be enough iron on hand to lay ten
miles of track.
The Tampa Guardian says: ''The Plant
Investment Company has received at this
place a considerable lot of switch stands
and plates for side tracks, Of the, latest
improved patent: also pile-drlYers and
outfit for wharf and bridge building. The
railroad wharf at the foot of Polk street
will be large and substantial one, and
the work is being pushed ahead under the
supervision of Mr.. Austin, of Thomas coun-
ty, Georgia. The work by the Pant In
vestment Company. TO complete the South
Florida Railroad, in each and all OF ITS
departments, is being rushed onward,
and the road will be through to sanford
by the time promised, and we nope IN
time to bring visitors up the st. johns,
across to Tampa and the Gulf coast the
coming winter
MONDAYS Baltimore Sun says: ''It is
announced upon what seems to be posi-
tive information that controlling in
terest in the Richmond and Danyllle Rail
road lines has been purchased by the
Seney syndicate, or East Tennessee, Nir-
ginia and Georgia system OF roads. This
is the conclusion of a negotiation that has
been going on for some time. 1t is stated
the sale was effected at Saratoga on
Friday, where a large number OF railroad
men are gathered. Mr.. Calvin ,. Brice, one
of the members in the new syndicate, eX-
pressed himself on Saturday as fol-
lows: Yes, the report is true that syn
dictate in which am interested has bought
control of the Richmond and Danville
Road. We have the strongest cOmbina-
tiOns that has ever been formed TO take
hold of Southern railroads. We have Sc
cured about $4,000 Of the $4,000 shares Of
stock issued by the Richmond and Dan
vile Company. Our syndicate controls,
besides our new purchase, the East Ten
nessee, Virginia and Georgia Railway,
and the Chesapeake and York River line
of steamers that ply between West Point,
on the Chesapeake, and Baltimore, and
has close traffic arrangements with the
CLYDE steamers, which run between New
i IL
points. Our purpose is to cOnfine all our
railroad and steamship lines under
enc management, and equip and
operate the system in the best possible
manner We have made a careful inspec-
ton Of our new purchase, and / feel we'll
satisfied with its condition. By the con-
sOlidatiOn referred to we will have the
greatest railroad system IN the South. 1t
gives US over 1000 miles of road through
the most beautiful and productive part of
the country, the most direct outlet from
all Southern Mississippi river points to
the Atlantic seabOard and all cities east.
The purchase Of the Richmond and Dan
vile stock was cOnsummated Friday. Of
course it is too early yet to give more
than general information regarding
our plans for the future, but we
feel sure that we have a most valuable
prOperty-One that already does a BUSH
ness of nearly 100000 yearly, and GER
tain to earn $12, 900 600 to $15, 000,0 900 yearly
in the near future. The effect of the COM
binatiOn will be to add $500, 600 to the net
earnings Of the East Tennessee and GeOr-
gia Railroad Company this year, and
probably more than double that to the
Richmond and DanYille system. Among
the members of the syndicate are George
;. Scott, of G.. 5. Scott Il Co., New York;
William z. Clyde, of the shipping house
of VIM. p. Clyde Il Co.; George T. Baker
and T.. ID. Fahnestock. of the First Ma
tiOnal Bank Of New York, and Messrs.
Samuel Thomas. George !. Seney, and
Calvin 5. Brice, of the Metropolitan Bank
of New York. ." A transportation officer
Of the Richmond and Danville system
i'm Baltimore said to a San reporter
On Saturday: ''The officers of
the company. myself included, have been
in New York most of this week. | am not
prepared to speak about the matter, but
would not be surprised if the statement is
true that a controlling interest in the
stock has been purchased by the Seney syn
dictate. Figuring upon shat matter has
been going on for month. 1t will GER
tainly be a transaction about which Balti-
more can have no regrets. The new sys-
TEN of consolidated roads, covering the
best of the Southern country from the
Mississippi to the Atlantic seabOard, and
penetrating to the cities of the West, will
have no other Northern terminus under its
direct control beyond Richmond and Balti-
more. Of course | mean railroad termini.
The steamship lines of the system will con-
tinue as now and heretofore. As matters
have stood, the Pennsylvania syndicate,
which controls the Norfolk and Western
and Shenandoah Valley roads. have di-
verified all the trade they could to Phila-
delphia. as their most desirable terminus
at the North. Last year 100000 bales of
cotton from the East Tennessee, Virginia
and Georgia territory were carried to
Norfolk over the Norfolk and Western.
The new system will no doubt operate
their Richmond and Danville lines to
Richmond and over the Virginia Midland
to Baltimore, and thence to other North
ern cities in such a way as will best
serve their interests. Baltimore will
be in the line of direct trade, and
not, as now, have cause to fear
discrimination in favor of Philadel-
phia. The Seney people have been dis
satisfied with the situation since the
Pennsylvania syndicate was organized,
and used some plain talk about building
Il line Of their own from Bristol or there
abouts to the Atlantic seabOard in Vir-
ginia or other suitable point. They will
have in the new syndicate the cOnnec-
tions they desire, and The two systems
will fit together like Siamese twins. 1t
will settle the status of the Richmond and
Danville upon a strong basis, and end all
as to the future in
connection with it. 1t is the greatest
ever preached in the South,
and Baltimore will have no occasion to
regret its existence. The fact is, the vol
ume of Southern business with this city