The times. [volume] (Richmond, Va.) 1890-1903, 1896-07-23
NORFOLK IND WESFERN.
Rather Sensational Exposure of Big
Raflroad Deal

haiiiOhu Drai.
\ gigantic deal is now on foot. the con-
summation OF winch will reyolutionize
the timber and mineral resources or East
Tennessee. II is a deal connected with the
coming reorganization OF the Norfolk and
Western railroad ard one which has mill
lions behind IL.
II is not a mere idle rumor, hut re-
atty, which Is conclDsiyely proved by
the fact that certain Property included
I'm the scheme has been purchased and
paid for IN cold cash. That property IS
forty-tw thousan> acres OF timber and
mineral land IN Cooke and Sewer coun-
ties.
The plan is this: Within three months
the Norfolk and Western will he reorgan-
lied, I'm that organization Will be IN
cluled thV South Atlantic anr ONO rail-
road-all now in the hands OF a receiver
also the Virginia Tennessee Coal and
Iron Company. which owns the great iron
furnaces at Cranberry, Bristol and Big
Stone Gap. These gigantic concerns will
be merged into a single corporation and
the Norfolk and Western will be- extended
from Bristol 20 Knoxville. and thence via
the Marietta and North Georgia road 10
Atlanta The truth is that Newman Erb
IS merely the agent for the gigantic cor
p0raton. which is behind the whole
scheme. They are the owners OF the Mari
eta road which is an important link I'm
the proposed system.
The distance from Bristol 20 Knoxville
by the proposed new route is about 800
miles the same as the Southern, but
through a lar richer country. James J..
Brooks. Of the firm Of James ]. Brooks
& CO.. bankers and brokers' 10 Boston.
has been along the proposed line of road
and has purchased all available land
thereon. This company g. behind the rec
orFaniza con scheme. and Alr. Brooks.
along with John e.. Haskell receiver of
the $. A. a o. railroad. and Messrs.
Hu.dekoper. receivers OF tie Norfolk and
Western road, are authorities for the
statement that this~iine will Doe built. and
Furthermore one OF them made the state
ment that ears would Dee running from
Norfolk 10 Atlanta within three years.
The striking fact about the whole thing
is that the reorganization board have
three agents in ths1eld. Mr. Brooks being
one of them. and they are paying cash
Tor the property.
The whole thing Ia a nutshell is this.
The Norfolk and Western people own eX-
tcnsiye coal lands in West Virginia.
which are reached hy their various branch
roads, these coal fields already being de-
vci0ped hy immense coke ovens in ope-
ration. the 5. 4. a. -. also reaches coal
and iron fields in various degrees of de-
yelopment, also the Bristol and Eliza
hcthtOu road runs through $1,000 acres
oil exhausted iron lands. from which three
furnaces at Cranberry Bristol, and BIG
Stone Gap have drawn their supply OF
ores. The Norfolk and Western is COM
PEELED 10 ind a southern outlet for the
"H.
and a road 10 Atlanta VIA Knoxville is d
solution OF the cnisma.
The iron lands heretofore controlled -
this corporation are not sufficient 90 run
one furnace one year longer. $50 said a
prominent member Of the Reorganization
Committee, recently. This new road VIII
develop country practically neNhals-
table in minerals, timber and other le-
sources.
Tile iron already prospectcd ON the pro-
posed route Is sufficient Go supply an thcif
furnaces for time to come. Consequenl-
ly they are purchasing ali mineral timber
and unimprovod property from bflstoi
10 knoxville.
NEWMAN ERB
is agent ~ the company which own nine
ty-two per cent. OF the stock 10 the Norfolk
and Western. and have given notice 10
lNe Silldll stuchuniNNi- go N'i'i' "'-' 90
part Do the reorganization. which VIII be
he'd within ninety days.
when the reorganization of this is
complete. of which j. H. Inman viii De
one Of the leading lights, they VIII own
the Norfolk and western and All us
branches. touching ail the West Virginia
coal and coke properties ). a. q @. rail-
road Bristol and Eliznhethton RAILROAD.
the Cranberry and zig stone Gap furnaces
and iron properties as wcii as newly
acquired timber and mineral properties
through Cocke and SEWER countles.-knox'