Evening star., 1896-10-03
MAY BE COMBINED
Southern Railroad Will Possibly Pur-
chase the Seaboard.
WOULD END THE TRAFFIC War
The Pratt Holding Of Seaboard
Stocks on the Market.
SOME ENIALS MADE

The Southern Railway Company has. ac-
cording to reports which are being per-
sistently circulated in railroad and kindred
circles, received overtures for the purchase
by 1t OF a controlling interest in the Sea-
board Air Line Railroad Company, and the
rumor finds many believers among those
VINO have become convinced that a perma-
neht peace between those two companies
cannot be secured SO long as the Seabcard
occupies its present independent position in
the railway world
1t is true that President Spencer of the
Southern has declared within a quite recent
period that the Southern d.d not want the
Seaboard and that when approached On the
SUBJECT OF sale Of the majority of the
stock of the first named corporation 10 the
latter he refused to consider II; but times
have changed since then. and there are at
this time many persons who think it better
10 secure lasting peace at almost any price,
provided the transaction be honorable on
both sides. than that there should be any
further decentralization of rates which is
certain to occur IL the present truce is
broken.
Again, it is quite evident that unless
peace can be obtained, there will be al
most constant Interference in the future
with the tariffs by various courts and
there is not railroad company in the
country that is not averse to any one hay-
lng say as 10 how its business ought TO
be conducted outside of those Immediately
connected with its own management.
Valuable Road.
While, as stated by some of the South
! erns officials, their company has no use
| for the Seaboard Air Line and does not
| desire to acquire it, the fact cannot be
| ignored by any unbiased person that the
Seaboard could be made a very valuable
| addition to Mr. Morgan's lines Of railway,
loh
| or l,3oo miles of track, in round numbers
| II has close business contract with the
southern Pacific, which, in effect gives
| Ii all the advantages OF transcontinental
| line, and II can transport its passengers
| to almost any point between the Atlantic
| and Pacific coasts via the southern states
elmer over Its own line or over lines with
| Which ii has friendly relations.
1t competes with the Southern for bllsi-
! ness al New York, Boston and other east
ern points, and at Philadelphia, Baltimore,
/ ashington, Norfolk, Portsmouth and
Richmond. Va, Henderson, Durham, Ra-
| leigh, Weldon, Wilmington and Charlotte.
! y. C, Columbia and Charleston, S C.
Athens, Augusta, Atlanta and Macon, Ga,
and scores of towns in each state named
and connects at junction points with trains
fer all parts of North Carolina, South Caro-
ilna, Georgia, Alabama, Mississippi. Lou
| isiana, Florida and at New Orleans for
points on the line of the Southern Pacific
as far California.
1t is also superbly equipped; magnificent
steel bridges spanning all the rivers cross
| ed by It's lines. Its road bed is excellent
| and its track is laid with steel rail
| Another matter to be taken into consid-
| Grafton in connection with the probability
| or possibility Of the absorption of the Sea-
| board by the Southern is that since
| the time Mr.. Spencer declared that the
company of which he is the head did not
want the Seaboard. Mr.. Enoch Pratt of
| Baltimore, who the holder of a large
| block of. Se8board stock, has died, and his
estate is IN the hands of his executor for
| settlement. Mr.. Pratt was said to be one
! OF the largest il not the largest individual
| holder of Seahoard securities and il was a
| matter of pride with him not to part with
any stock which he had once purchased.
By the terms of his will, however. a large
portion of the proceeds of the sale of his
| estate are to be given to a hospital bear
Ing his name, under certain contingencies
and to comply with the direction left by
| Mr.. Pratt, the Seaboard stock will, II is
said, have to be sold.
| An Offer.
Within the past day or two the Mer-
chants Trust and Deposit Company OF
Baltimore, of which Mr. Pratt's executor
Is, II is understood, director, has made
offers for an option on the stock of the
Seaboard, and, 1t is said, has agreed to
pay s1G0 per share, provided a controlling
interest can be secured by it. AS the stock
Is now quoted at S45 a share though it
| only received bid Of $40 a share in the
open market yesterday, it requires no areu-
4 ment TO prove that an offer OF SlUN, which
| is practically an advance of 15o per cent
on the present ruling price, is very hatter-
ing, and might be considered so tempting
| by many holders that they would be in
| clined to accept it.
Gen. John Gill, president of the Mercan-
tile Trust Company, which, above stated,
Is said to be trying to buy the stock, is also
| q large holder Of Seaboard stock as are
also the heirs of the late Samuel " Shoe
maker and the president of the road. Mr.
r. Curzon Hoffman.
The Baltimore Steam Packet COMPANY
which started the present suspended rate
war. is now operated by the Seaboard but
1t is separate concern. Its stock is quot
ed at $1,000 a share, and there is none, SO
far as known, for sale.
| Seaboard officials who ought to be con-
| versant with the facts of the reported deal
| deny tfat there is any truth in the rumors
and say the talk is simply a revival of the
reports OF a contemplated purchase of the
Seaboard by the Southern which prevailed
r | several weeks ago. But, as above stated
| great many other equally well posted
. | men assert that they believe the transfer
| Of the smaller road to the larger is only a
| question Of time, and a very short time at
| that.
t Should, however, the Seaboard pass into
the control of the Southern, the war be-
4 tween the two lines would, of course, cease
as the competition now existing on the
Chesapeake bay would be done away with,
as the control OF the Seaboard would carry
with 1t the control of the Baltimore Steam
Packet Company, the Seaboard's connec-
: ton between Norfolk and Portsmouth and