Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1886-11-22

The Richmond and DanyiIle-


The settlement of the conflicting intere sta
in the Richmond aud Dsnvile and Rich.
mond and West Point Terminal and Ware.
house Companies was consummated in New
York on Saturday by the sale of the stock
representing tho control of the Richmond
and Danville Railroad for $5,0O0OOO cash
and 81 SOC, 900 in stock of the Richmond and
West Point Terminal and Wareh ouss Com.
pany. The old Board Of Directors of the
Richmond and West Point Terminal and
Warehouse Company resigned Saturday af.
ternoon and new board, consisting of Al
fred Sully, Emanuel Lehman, Isaac Rice
Thos. NJ. Logan, George F. Stone aud J. A,
Rutherford, were elected in their place The
new board Immediately organized by elect
ing Alfred Sully president and T. NJ. Logan
vice president. Mr.. Edward Lputerbach
was elected general counsel to The board snd
Col. w. w. Gordon, Of Virginia, general
counsel in the Southern States. A commit.
tee vas appointed to issue notice to stock
holders for subscriptions to the So 900, 900
cash, requlred to acquire control of the Rich
mond and Danviile Railroad, each stock.
holder to be entitled to subscribe to All
amount equal to one-third of his holdings in
Richmond and West Point terminal stock,
and receive common stock therefor equal to
enc half the amount of his present holdings
and preferred stock at par for the cash sub
scribed. The capital stock Of the Richmond
and West Point Terminal Co. will be in.
creased accordingly.
The RocEafelers and other Standard Oil
Go. officers are said to be interested in the
transaction, but they have not taken an
active part IN the negotiations.
discussion was had at the New York
meeting on the subject OF the relations be-.
tween the Terminal Co. and the Richmond
aud Danvlle. 1t was said after the meet
ing that there was general expression in
the line OF complete uniGcaton of the two
systems, aud that the result would be a
completely harmonious one. The coming
stockholders meeting of the Richmond and
Danvile Co. is awaited with much interest,
as the public are anxious to know some.
thing OF the modus operanGi Of the change
in that company which is now certain 10
take place.
The Richmond State ofEsaturday SAYS: "As
was stated in these columns yesterday, Mr..
, Rockefeller, CT the Standard Oil Conpsnv.
is understood to be large stock holder in
the new syndicate. But the Danville system
will be run, it is stated by persons in posi-
ton to know, not as q Staudard.Oil specu.
lation, but as Richmond and southern en-
terprise, tending more than ever to accom-
modate and build up the interests of Virgin.
ia and the South. The prominent part
J which MIR. Pace and other Richmond CAPT
: tallsts play in the company gives assurance
that II is "a home affair.""
1.-THE people Of Richmond were surprised
and dispeased at the policy Of the Scott
, management in removing, u few months
r ago, all the general Offices, with the excep.
ton of the executive office, from Richmond
to Washington city. The new owners will
bring the offices back TO THIS city at an early
day. The Danville Company bought tow.
oriug brown'stone building on Pennayl-
vania avenue for lis headquarters, and
there scores of clerks drawn from Richmond
, are at work. The company still owns the
> building on the corner Of Tenth and Bank
in this city.
, "Mr. Clyde, who has been in the Richmond
, and Danvile directory lor many wears, will
now 80 out. 1t is understood that be dis
posed Of all his stock on Thursday night
., General Logan and Mr. Clyde were financial
opponents. 1t is also understood that Mr.
Scott, who was the largest holder up to
Thursday night is no longer stakeholder
MIR. Huldekoper, vice-presdeut Of the
Richmond and Danville, who was an adro.
' cate of Washington headquarters as a:ainst
Richmond, will be left out of the new di-
, rectory."
The New York HeralG says: Most of
} the specialties were quiet On Saturday, in
terest being diverted to tho speculation in
Richmond and West Point Terminal shares.
On the story of General Logan's victory over
1.-The Danville crowd" there was a rush to
buy the stock when the market opened. It
seemed as if half the members of the Stock
Exchange had orders to execute in Term.
nails. When the gong was struck there was
intense excitement, and all sorts of prices
were made at the same moment. When the
turbulence subsidized it was found that the
lowest sale made was at 70 and the high.
est at Is, an advance of per cent.
over yesterdays closing and Of q
per cent since Thursday morning. The
Jump was followed by reaction, but there
seemed TO be good buying al 70. Stock
bought IN The hoard was said TO be for Mr..
Geo. 5. Scott, Mr.. Fahnestock and others
OF the defeated Danvile party. Imagna-
tive people fancied the latter might be try.
ing to gain Parthian victory, and, by Sc
curing the stock thrown over by the Termi-
nal party, again secure control aud rout the
latter in their hour of triumph. AZ the
amount sold on Change zinc. yesterday
morning IS more than equal to the entire
capital stock of the company this would
seem not impossible. During the afternoon
the price rose from II to II, and closed
about midway between these figures"
1t is not known by the officers of the Dan.
Vile system in this city what will be the eff.
feet of the recent transfer of ownership.
They can not tell whether there will be any
changes ii the officers of the Virginia Mid
land road, but are inclined to the belief that
the general offices of the Richmond and
Danyille company will remain in Washing
ton.