The comet. (Johnson City, Tenn.) 1884-1916, 1888-11-08
A BIG RAILROAD DEAL.
Wall Street Sharpers Working to Unite
All the Important Southern Lines
Under One Management.

hSNOIu'l
A deal of gigantic proportions, by
which all the railroads in the Southern
portion of the country are to eventu-
ally come under the control of syn
dicate OF Wall street sharpers, is now
under way, and should the pending
negotiations reach a successful con-
summation, which it is thought likely
they will, there will be created one of
the greatest monopolies that ever ex-
listed, trust that will rule Southern
industries and manufactures with a
rod of IRON, and an organization so
extensive in its ramifications that it
will eventually control the whole sec
ton of country in which it conducts
its operations. This section is south
from the Ohio river to the Gulf OF
Mexico and east from the Mississippi
river to the seaboard.
NO INTEREST IN THE WELFARE OF THE
SOUTH.
The little handful of men who even
now are at work with all their shrewd-
ness and cunning ON this scheme are
gamblers in railroad stocks and bonds
men who have ho interest whatever
in the welfare of the country iii gene
raj, and men who would not scruple to
ruin the commercial interests of the
entire country if their own private in
terests could be benefited thereby, In
the event Of their success they will
make their own rates for the shipping
OF freight. They will control the out
put of agricultural and manufactured
products by regulating the amount of
freight to be carried, and, having a
complere monopoly, will dictate prac-
ticallY what shall become of the goods.
THE FIRST STEP IN THE DEAL.
The first step toward carrying out
the deal was taken a few days ago,
when the Richmond Terminal Rail-
road Company bought up the Georgia
Central railroad and all its connec-
tions. This bargain has already been
cOnsummated, one-half of the $4,200,-
000purchase money having been paid
AN ATTEMPT TO STEM THE TIDE.
With a view OF preventing this deal
or at least OF undoing what has been
done, the Law Counseors, Samuel
Dickson and Joseph /, Doran, repre-
senting Nicholas Thouron and William
Barr, of this city, and other stock
holders, applied to the Chancery Court
OF Tennessee, at Knoxville, for an in
junction against the lease of the East
Tennessee railway system to the Rich
mond and Danville Railroad Company
The court directed the bill to be filed
and has fixed November 10th for argu
ment.
| The application is made upon thu
ground that the Richmond and Dan
vile is competing line both in Ten
nossee and Georgia with the Eas
Tennessee road that under the laws 0
those States the leasing OF one roat
b. a competing road is forbidden, ant
a penalty OF forfeiture OF franchises i
incurred. 1t is believed that the con
solidation OF these systems would b,
very disastrous to the developmento
the resources of the country abou
Atlanta, Chattanooga and Birming
ham, by making those points solel.
dependent upon one line of communi
cation with the outside world. By th'
block given to the development of tn,
progressive interests at these points i
is believed that eventually the Eas
r Tennessee system would greatly suffer
BIDDING FOR ALL LINES.
2 1t was stated recently by gentlemen
e prominent in railroad matters tha
s prices had been placed upon the NoI
5 folk and Western, the Shenandos
Valley, East Tennessee and Louisvill
e and Nashville systems, and also upo
o the steamer lines from Boston, Prov
e denee, New York, Philadelphia an