The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1895-10-24
SOUTHERN MAY GET IT.
RUMORED TO HAVE PURCHASED
The G. F. &YV
The Mortgage Sale will Take Place at
an Early Date and the Southern
May be the Purchaser-Two
Other Roads Said to Want It.

Other Roads Said to WantIt.
The Washington Evening News, of
Thursday, contains, under sensational
headlines, column article of a
rumored deal by the Southern for the
G. F. and Y. V. Railroad, from which
we take the following:
The Cape Fear and Yadkin Valley
Railroad, of North Carolina, is to be
sold under foreclosure of mortgage at
an early date.
"There are reasons for entertaining
the belief that the road will be pur-
chased by the Southern. 1t is set
tied fact that the Southern has for a
number of years been especially de-
sirous of reaching one of the seaports
of North Carolina, which they will az
complish by entering Wilmington.
The Cape Fear river runs through
Wilmington, and it has very fine
harbor and many large vessels enter
the port.
1.-The Cape Fear and Yadkin Valley
people have within the last year
Ell ected some very extensive coal eie
vatOrS and have contract with
manufacturers in England for the
shipment Of coal to that country.
The purchase of this road by the
Southern would give practically eX-
elusive entrance into some of the
most productive territory of the State
OF North Carolina.
Then, also, it would place the
Southern in fine position to COM
pete with the SeabOard Air Line and
the Atlantic Coast LinL roads for
traffic in some of the most productive
parts of the Old North State.
There is also a rumOr to the effect
! that the Norfolk and Western would
, also like to purchase this road, but
the chances are if it is purchased by
any OF the large syndicates at all, it
will pass into the control of the
Southern. The Baltimore and Ohio
have also got their eagle eye set upon
the road. Should it be purchased by
the latter system, it would be neces-
| sary for that company to build a new
line from Lexington, Va, to Mt
| Airy, the Western terminus of the
| Cape Fear and Yadkin Valley road.
The Baltimore and Ohio could also
build from Lexington to Winston
! Salem, and there make connection
with the Cape Fear and Yadkin Val
ley road.
| "The mileage of the road embraces
about 306 miles, the Southern division
extending into South Carolina If
| purchased by the Southern road it
will practically give that great system
exclusive control of all the traffic OF
nearly all of North and South Caro-
lima, in connection with their branches
of the road which are now penetrating
| these States.
''1n connection With the prospective
sale, there seems to be pretty
scheme of combination of some OF
the bondholders and other paraie:
have on hand to dismember and dis
| rupt the road aud destroy it as q
| trunk line from ocean to mountain
| A gentlemen of Wilmington who il
interested in railway matters and
who is jealous of the best interests O
that City was recently in Baltimore
where he met capitalists largely in
tereSted in railway affairs, and from
the most reliable source in railroad
circles he learned of the scheme men
toned. To reporter he said:
The Cape Fear and Yadkin Val
ley Railroad bOndholders' COMMITTEES
in Baltimore, consisting of Messrs. w
H. BlackfOrd, chairman; Frank Il
Redwood, William III. Perot, John A
Tompkins, Basil B. Gordon, j. w
Middendorf, and Frank P. Clark, it il
understood, have prepared plan 0
reorganization, which seeks to hav,
the road sold as unit and reorganiZe(
on business basis, that is, that th'
reorganization shall provide for th
complete equipment and successful
operation of the road as trunk lin
between Wilmington and Roanoke