New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-10-29

Company. TO force this system TO surrender, the
familiar Br1ce tactics of paraleling, so wei eN-
emplificd in the Nickel Plate enterprises. are
being rcsorted to.
The Chowan and Southern road is q line now
under construction by w. T. Walters the million,
airc Of Baltimore, which will parallel the oeaooaru
and Roanoke, and railroad men OF Keen opserNa-
ton assert emphatically that Mr. walters reprc-
sents the Bricc- lnman schemers. 1t Is evident,
also, that the Terminal Trust is seeking WIN
Railroad TO enter the trust at the terms Oh
Brice and lnman. In the stock market vigorous
bear efforts have been made to break tine STOCK
of Norfolk and Western, and there is but ON, one
opinion in Wall Street as TO who inspires these
attacks Messrs. Brice and lnman probably real
ize that in this struggle they VII, nO ro s%tv
are determined not TO part with it, and every
influence possible is likely to be invoked by them
to put a check upon the growth ana power oi
the BIice-Inman railway monopoly ,,,..
BY the capture of the East Tennessee, Virginia
and Georgia system, at a cost whch railway MI
say will require monopoly rates 10 carry WIN
nroft. the Norfolk and Western is left with its
western terminus at Bristol Tenn. Inc Iermlhai
trust" threatens to build new ROAD TON
Raleigh TO Norfolk and divert the traffic which
now goes over the Norfolk and western from
the East Tennessee road down through a,shevilIe
and over to Elegh and sesS toy s
for Bricc and 1nman TO ta1e TO further aggfanuize
their mighty trust
JUST WHERE THE DANGER LIES |
Railroad men, who are concerned over the
entrance into the South of the spirit OF trust
monopoly and the success it has achieved so far
under Brice and Inman, say that the danger to
the public lies largely in the excessive capitalza-
ton which has attended the building up OF the
Richmond Terminal Some striking examples OF
the watering which has attended the move
ments that helped to bring the system together
have already been given. Not only has a big
1 ,1,v 1.<.nr,
ahead, but the reczessness of Bricc ana lnman
has made it profitable to sell out to them. Inc
purchase of the Georgia companys STOCK, Wmcn
represents the control of the Central Railroad
and Banking Company of Georgia, is the lateTs
illustration of the profits made by me sellers oi
goods to Brice and lnman, especially wheh ai i
Inman is director in both the buying ana the
INC Central of Georgia stock, held by the
syndicate which organized the Georgia Company,
amounting to s4,000000 out of a capital STOCK
of less than $4,000, 600, was placed in the hands
of the Central Trust Company to secure an an
issue of 100000 5O-year bonds uo at
per cent interest. On top of that the Geo TEE
Company created capital stock u - so,
of which e. 1000, OO) have been issued The sale
10 the Richmond Terminal of the Georgia Sonl-
pany's entire stock was AT S35 per share, InVoNing
the transfer in cost of "a 200 to the se t
and leaving outstanding the trust oonus Vi 'hc
Georgia Company to draw interest. .,,
AS the stock of the Georgia Central Railroad,
on which the Georgia Company was FORMED, y
hypothecatcd the figures at which the hchmoiiu
Terminal acquires the control OF TIC Oeorgl5
Comnanv's stock represent S140, if it IS assumed
that the basis of capitalization is 81 o,VUO wv
or 81 % per share, if the capital is 81 -,ooooov9.
The sale involved the Sl,00O,O0O treasury SIOUX
of the Georgia Company, according 10 the qu3,ueu
Statement of one of the Terminal directors when
the announcement of the sale was made.
WHAT RAILROAD MEN THINK OF 1T
This is the view of the Brice-lnman trust
4al,en nv MANY railroad men and crystalized by
one of them:
IT, is extremely difficult calculate the amount oil wafer
represented by the securities that are carried py ne
Richmond Terminal and controlled companies IhdC
g. ia enormous every knows and there can be no proh
N Terminal unless IL rates which VIII prove OIL
rermonent injury to the entire South IhiS N"so
monopoly practically reduces every important rroaa
centre south Of Kentucky the position OF local poin
subject to II the scheme Is carried tIouEn
without protest by the courts and legislatures OF inc
Southern States competition will be wipea
out and shippers will be OF the mercy OF 'ho
duress Of Brce and Imam. For season prosperity
MIGHT mark the operations OF this gigantic system but
in the end the industries OF the South would suer 30
,ha, wave of public Indignation would sweep through
that section and every raroad the WORST e''
OF granger legislation.
The lease OF the East Tennessee to the ichmoho anu
Danve is clearly violation OF the laws OF georgia
The success OF this attempt place the entire SCUM Ill
the control OF the Richmond Terminal would result III
few wears I'm setback Southern prosperity and In
dustrv that could not be recovered from I'm quarter OF
century II will hurt legitimate raroading IL VIII
he