Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-11-30
The Dnnville and Terminal Deal.
,Nev yort Mall and Express

a l. hui 100 wen knoNn, TUE Cuio' In-
ierest in the stock market almost up 10
Thanksgiy lng.tay was the strange ana I'M
interrupted rise in the Richmond and Ter
minal stock. There il no doubt that du'
ring the LAST two weeks thousands Of people
have been dealing in Richmond Terminal
stock without even knowing whether II
Is a trunk line or branch line,
through what State or States the
road runs, it, connections, etc.. etc.
TO the few initiated stock spectators the
real situation is Of course known. To I'M
initiated stock. gamblers who 90 in for flyers
and would as soon buy stock OF q rallfoad
in the Mountains Of the Moon, in Africa, rs
long as the stock Is dealt in aud goes up
i've or ten points a day, it makes little diff
ference what Richmond Terminal Is, As
long as their margins Increase, hold out, er
are entirely lost. But there Is an investing
community who, without any fault OF their
own. are perhaps woefully ignorant OF the
real facts of the Richmond Terminal sys-
TEN.
1t should IN the first place be known that
as far back as 1917, now nearly forty wears
ago, there was chartered the s0-cllled Rich.
mond and Danville railroad. road that
simply ran from Richmond, Va. to Dan
vile. a distance Of 40 mites. This road
eventually built about SO miles OF branch
roads and leased about $50 miles OF different
lines. The principal Of these leased lines
was the one OF $40 miles. known a. the At.
lanta and Charlotte Aif-I.ine, aud tue
North Carolina road Of 223 m'es. All
these roads, comprising about $50 miles,
make up the Richmond and Danyille Rail-
road Company.
General T. NJ. Logan, Of Virginia, con-
ccived the idea in 1850 to acquire in the in
tcrcst Of the RichBOnd aud Danyille cor
polation whole lot Of different roads, in
order to make up a complete system. ~
II should be understood that these different
roads could not by the law OF the State Of
Virginia be held by the Richmond and
Danylle corporation. General Logan, there
fore, in consolidating several fragmentuy
lines and making a comprehensive system,
originated the now woll-kuOwn Richmond
Terminal system. Aud this system nov
owns, commands, and controls no less than
$40 miles OF railroad. The principal Of
these lines are:
The Virginia Midland. .........4l2 miles
The Georgia Pacific. .............3l' miles
The Western North Carolina. ... .2if miles
The Columbia and Greenyille.. 1876 miles
The Charlotte, Columbia and Au-
custa ..................l9l miles
and different other shorter lines, which,
in the aggregate, make up the 1889 miles.
ef course, this great Richmond Terminal
system was worked, and Is nov (Or should
bel worked. IN conjunction with the Rich
mond aud Dauylle road. No sooner did
General Logan perfect the main features OF
this great " stem in $50, the sinews of war
having come from New York, when the
New York Spectators made the memorable
Richmond aud Danvile and Richmond
Terminal "dCal," driving the stock UP TO
$50 and 2G0 a share respectively, followed
by the great collapse. II may be interesting
to learn that the originator Of the system,
General Logan, was heavy loser. lie
stuck TO the ship labOring In heavy sea TO
the last, and was not landed "wet y aS In
shipNreck, but thigh and dry in lsS3,
when the great crash came in the Richmond
and Danville and Richmond Terminal stock.
lie was even ousted in 1883, | believe.
from his vicc.presideDcv OF the road. In
the mean timethe gentlemen who managed
the two systems OF roads did not seem 10
make great success OF IL, and ls the price
OF the stock in these roads hitherto up ~
the present reconstruction fully shows. In
fact, the Terminal stock went down a 10"
as 20, | believe. But the energy OF General
Logan aud some other southern gentlemen,
in conjunction with some rich New
Workers, slowly, hut surely, acquired al
very low prices the main stock OF the
10000 shares Of the Terminal stock, and
thereby the control Of that system.
Now, as has already been shown, the so-
called terminal roads are in fact the main
supporters OF the Richmond and Danyi'le
system, and could not possibly be in hostile
hands. Hence il was only question be-
tween the Richmond and Dlnyille con-
trollers and the Richmond and Terminal
controllers whether the dog should wag The
tail or the tail the dog.
Wisely. and certainly very advantageous
". the few chief holders OF the Richmond
and DanvilIe stock sold $4,000 shares o!
that corporation TO the new controllers OF
the Richmond Terminal system for GER
tsinly large sun. and thereby the two
corporations, which are one system OF 2,GJ0
miles Of railroads, are now virtually under
the control and will, OF course, be soon I'M
der the sole management OF one powerful
syndicate And what seems TO be the poetic
Justice IN ills capture Of the two roads, not
often found in the railway world, Is that
the originator OF the Richmond Terminal,
General Logan, alter strange vicissitudes
during the last three or four wears, has ac.
tually not only come TO the front again, but
Is now occupying a position more solid
and stronger than ever he did. Let liz
hope he will learn wisdom from the past
and remain, as he now Is, entrenched in the
strong aud respectable support which has
made tie great "coup" a success. Such
are in brief the outlines OF the Richmond
and Terminal "deal," which for the last
two weeks has occupied the chief position
in The stock market.