The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-10-27
RIVALRY OF DIxIE'S RAILWAYS.
THE L. AND \. NOW SAID TO BE
AFTER THE sEABOARD.

| President Spencer interviewed Con-
corning the Relations of the
! Southern and the Louisville and
Nashville and the Lease of the
Georgia ROad-Mr. Spencer Also
Explains the Present Status of The
| Central of GeOrgia Railway.
Washington, Oct. 26-An article, pub
! lished this evening upon the alleged con-
test between the Southern railway and
the Louisville and Nashville company,
for the control af the Seabord Air Line,
embodies an interview with President
Spencer of the Southern, upon the rela-
lions of his company and of the Louis
vile and Nashville to the Central of
Georgia railway, under the joint lease Of
the Georgia road by the Central of Geor-
gia Railway Company and the Louisville
and Nashville. AS an introduction to the
interview it is stated that the Louisville
and Nashville is trying to secure the ex-
elusive control of the Georgia road. Pres
ident Spencer describes the various
changes that led up TO the present status
of the Central, and then to illustrate how
the Southern and Central might exchange
most harmonious business terms and yet
be entirely Independent as to ownership.
He then went on to say; "At Knoxville,
Tenn, where the Southern owns every
road except the Marietta and North Geor-
ga, the Southern hauls out a sleeping
car TO deliver to the Louisville and NASH
Vile for Louisville, although the South
ern has a sleeping car line of its own be-
tween the two cities, by way of Harri-
man
1T is the best policy for railroads to
maintain stable rates toward competitors
and give the others a show.
"All precedents show that whenever
one railroad tries to mOnopolize the busi-
ness some other line will cut rates ana
cause Generalization. The East Tennessee
lines used to be open to the Seaboaro
Air Line, and still are, because it is the
Wisest course to pursue"
Referring to the reorganization of the
Richmond and Danvile, or Richmond Ter
minal- Company, Mr.. Spencer said: "Thls
reorganization committee of the Rich
mond Terminal Company includes two
members of the Central Trust Company,
which is trustee for certain bondholdeTs
of the Central Railroad Company The
officers of that trust company would not
sit quietly and see me dictate a policy
for the Central which would be detri-
mental to the interests of the bondhold-
ers whom they represent. Those gentle
men represent the $S0O00000 or $40, 90
of securities, and they are managing
their securities for the benefit of all. They
hold the Central stock and vote it,
The article adds that 1.-The latest IN
formation in reference to the Seaboard
is that ex-Secretary of the Navy Whit
ney is largely interested in the property
and it is reported that Mr.. Whitney's
connection with the syndicate forms the
large part of the basis for the assertion
which has been made that Messrs Ryan
ana Thomas have practically unlimited
capital as well as abundant credit
II is further reported that the resigna-
ton of President r. Curzon Hoffman is a
question of but short time, and that
Thomas +. Ryan, who, in addition to be-
ing one of the owners of the Seaboard. is
secretary of Mr.. Whitney's street railroad
system in New York, will succeed him
1t is said that Vice President and General
Manager ST. John has been invited to re-
main with the new company, and it is I'M
derstood that he will manage the property
in full harmony with it's neighbors.
1T can be stated on the best authority
that there is no longer any doubt that the
deal made between two ard three weeks
ago, when Messrs. Ryan and Thomas.
with the help of Gen. Gill of Baltimore.
formed the pool which secured the control
OF the Seaboard stock, will be carried
through on the lines is originally intended
Mr.. Ryan is now in practical control of
about 5000 shares Of the stock and Gen
Gill has about 200 more, which insures its
transfer to the new owners. To part with
the active control of the property, with
such bright prospects of continued rate
wars and accompanying excitement has
been severe blow but some of the biggest
holders, aside from pecuniary advantages
have been in a measure philanthropic, for
they say that a desire to end the disas-
| trous rate war has compelled them to agree
to the terms offered by the Ryan syndi-
| cate
THE Seaboard, it is claimed, Is at pres
| ent in excellent shape, and there is little
| doubt that its new owners will take ad-
| vantage of this condition to further i'm
| prove the property
Recent developments have shown that
while Mr.. st. John has, by his course to-
ward the Southern in the past, made
many enemies, he has also demonstrated
| that he has many friends, and the great
| majority of these are to be found in the
ranks of those who furnish the Seaboard
| with its best and most profitable bust
| ness"
CLINCH SUPERIOR COURT.