The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1883-07-31


/ self included, have been In New York
most of this week. I am not prepared to
| speak about The matter, but would not be
surprised II the statement is true that a
controlling interest In the stock has been
purchased by the Seney syndicate. Figur-
Ing upon that matter has been going on for
month. II will certainly be trans
action about which Baltimore can
have no regrets. The new system
OF consolidated roads, covering the best
OF the southern country from the Mis-
sissippi TO the Atlantic seaboard, and
penetrating to the cities OF the West,
will have no other northern terminus un-
der its direct control beyond Richmond
and Baltimore. or course mean railroad
termini. The steamship lines Of the sys-
tenn VIII continue as now and heretofore.
AS matters have stood, the Pennsylvania
syndicate. which controls the Norfolk and
Western and Shenandoah Valley roads.
have diverted all the trade they
could to Philadelphia, as there most
desirable terminus at the North. Last
year 100000 bales OF cotton from
the East Tennessee, Virginia and Geor-
gia territory were carried TO Norfolk over
the Norfolk and Western. The new sys-
tenn viii no doubt operate their Richmond
and Danville lines to Richmond and over
the Virginia Midland to Baltimore, and
thence 10 other northern cities in such q
way as will best serve their interests.
Baltimore will be in the line OF direct
trade, and not, rs now. have cause to
fear discrimination in favor Of Philadel-
phia. The Seney people have been
dissatisfied with the situation since
the Pennsylvania syndicate was organ
lied, and used some plain talk about
building line OF their own from
Bristol or thereabouts to the Atlantic
seaboard in Virginia or other suitable
point. They will have in The new syndicate
the connections they desire, and the two
systems will fit together like the Siamese
twins. 1t will settle the status OF the
Richmond and Danyille upon strong
basis. and end all uncertainty as to the fu-
ture i'm connection with it. IL is the great
est combination ever broached in the
South, and Baltimore will have no occasion
to regret its existence. The fact Is, the
volume Of southern business with this city
Is steadily increasing"
THE INCREASE OF STOCK.
The New York correspondent OF the
CHN ElNtS StaiNhiNh'
concerning the reported Richmond and
DanvlIe sale. He says: The Saratoga
special to the effect that a certain syndicate
had bought the control in the Richmond
and Danvile road, and would consolidate
1t with the East Tennessee system, is
not confirmed. Mr.. George S. Scott and
Mr.. Clyde own. as they have for some time
past, 10000 out OF the $4,000 shares Of
Danvlle stock. and they OF course con-
troll the property. In reply to question
by your correspondent whetherth would
be an increase in the stock ut the meeting
in September. Mr.. Scott replied, No, and
any attempt OF that kind on the part OF the
directors would result i'm their displace-
ment, they having no authority for such
action. The stock sold Saturday at 0966S
for a few hundred shares. Net earnings
from June 1st to July 1st were Sl,370, All,
against S770,090 in 1882.
Colonel Buford, the president OF the
company, has returned from New York, and
was at his Office yesterday. Those who
saw him represent that he was hopeful that
the success OF the road as a controlling sys-
tenn in the South, for which he has so long
and so well labored, is about to be securely
established.
In combination with the road mentioned
and with due attention to deserving local
interests, the Danville ought to become one
OF the most powerful and prosperous sys-
tens in this country.