Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1886-11-20
The Il. and I'D. and West Point Ter
minaI COmDanieS

A meeting was held 10 New York Thurs.
day night at which compromise between
the R. & D. aud West Poiat Terminal Co.
was arranged, and orders were telegraphed
TO Richmond to adjourn the meeting held
yesterday one week, until the details of the
new deal can be perfected. It's understood
that this deal consists in the sale TO the Rich
mond and West Point Terminal Of $4,000
shares Of Richmond and Danvllo stock at
prices ranging from Sl75 to $3.50 per share,
is said that in this transaction Alfred Sully,
Gen. Logan and George +. Stone represent
ed the Terminal Company, and George S.
Scott, WIN. p. Clyde and II. c. Fahnestock
the Richmond aud Danvile party. 1t is be-
lievea that this transfer will be followed by
the consolidation CT the two companies, rs
the purchase, together with the 20, 900 shares
or thereahouts previously held by the West
Point Terminal party, gives the latter pos.
session OF all but ABOUT 3 900 shares of the
Richmond and Danville. The change in
tho situation is this: Formerly The Rich.
moad and Danville owned the Terminal
Company, now the Terminal Company owns
the L. and d. 1t is declared that all parties
who have been interested in Richmond and
Danville and the West Point Terminal prop.
critics will be represented and interested in
the new arrangement, and thus all differ.
ences will be amicably settled and the sys-
! tenn permanently tied together as a whole.
The dealings in West Point Terminal in
New York, yesterday, amounted to 107, 900
shares. The price advanced SIS a share, to
65, closing at S64.75. Surprising that the 81, 900
shares sold Thursday night were purchased
at an average of 5000 a share, the total
transaction represents an outlay of $780,
600. 1t is rumored that capitalists in the
Standard Oil Company supplied part or
most of the money.
A dispatch from Richmond says: ut is
asserted that the Terminal company has Sc
cured control of the Richmond and Danvile
Railroad, and the rumor is current and be-
lieved that NIr. James B. Pace, of Richmond,
will be president of the Danyille system.
For some time past race has been going on
between what is known as the Scott party
and the Logan party tor the control of the
Richmond and DanvlIe system. The Ter
minal company controls 1874 miles of the
Richmond and Danville system, including
the Virginia Midland, the Western North
Carolina, the Richmond and Meek lenburg,
the Charlotte, Columbia and Augusta, and
the Columbia and Greeuvlle. The compa-
ny was incorporated in 1880, under the laws
Of Virginia, for the purpose of building, buy
ing, leasing, operating, &C., lines of railroad,
because by its charter the Richmond and
Danvile Railroad Company could not lease
or operate any road that did not connect
| directly with its main stem. This charter
has since been amended, however.
1.-THE Terminal stock was originally $3, 0OO,-
600, but in 1882 it was increased to sis, OOO,-
900. The company received in cash from
the sale of its stock S7,500,000, or $50 per
share, and spent this money and all its
revenues in acquiring and building the pro-
perlies mentioned
Mr.. James B. Pace, who only in the last
few months went into the Terminal is con.
sidered the richest man in Virginia. He is
president of the Planters National Bank, of
Richmond and made his fortune 10 the to-.
bacco business. His friends alege that he
will not desire to take the presidency, but
that it will be forced on him. He was in
New York last night, and is understood to
have bought very largely of the Terminal.
1T is thought now that the Logan Pace
party have control of the Richmond and
Danville system, that the Offices recently
removed to Washington will be brought
back 70 Richmond.n