Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-11-02
MAY NOT COME HERE,
Hitch in Plans Of Richmond,
Petersburg & Carolina R. R
NECESSARY LOAN NOT PLACED
Story from Baltimore Showing HeSotla-
lions Are Pon0l1g InePe.
THOSE INTERESTED RETIcENT.
Dccline to Discuss the baltimore Re-
nort Further Than to sny Ii is In
accurate-But one Piece of Property
Purchased I'm Richmond.
THOSE INTERESTED RETIcENT.

Petersburg and Carolina railroad, be-
tween Petersburg and Ridgeway, has been
built and is ready for trains to run over
IT. The city of Petersburg will probably
be asked to accept this line some time
this week. A freight depot has also
been constructed at the Cockade City.
There is a hitch in the arrangements
for carrying out the plans, which have
been much agitated Of late, OF extending
the line TO Richmond and building a
large depot here on the site of the st.
Charles Hotel. There is some apprehen-
sion felt that this scheme may not be
matured, and on undeniable authority II
is stated that the railroad and construc-
ton companies interested are now con-
sidering whether the terminal shall be in
Richmond or whether it shall fall short
and the project of extending the line to
this city be entirely abandoned.
This latter alternative would entail no
very considerable loss, it is said, since
the stable on Franklin street owned by
Mr.. Peter Paul is the only piece of pro-
perty that has been bought outright
and the options obtained on other pro-
perties might be relnquished without en-
failing any very serious loss.
The option on the st. Charles Hotel
property expires at the end of this
month. and whether this is renewed or
allowed 70 lapse will be a very clear in
dication of the trend of affairs.
LOAN NOT YET SECURED.
The difficulty is said to exist In the
negotiations for the necessary loan TO
carry the plans through. An immense
sum is needed, and a rather more than
ordinary amount of risk has made the
financiers unusually ti.nid. Still, those
interested at this end of the line are ex-
tremely hopeful of carrying through the
original proposition, and the following,
which appeared in Il Baltimore paper yes
terday morning. gives some idea of the
negotiations in pros;~sj in that city:
"The Mercantile Trust and Deposit
Company, of this city, has under conslde-
ration a big loan to the Richmond, Pc
tersburg and Carolina railroad. The pros
pective transaction was subject or IN
teresting discussion yesterday In Baltl-
loan. and the terms upon which 1t would
be placed, were both matters OF earnest
speculation and repeated inquiry. 1t has
been known for some time that the rail-
road company was particularly deslrous
of securing money in order to complete
its general plan of extension and inn
proyements, and ii was further known,
as published in the American, that 1t was
seriously proposed to link the said road,
when finished, with the Seaboard Air
Line.
WANT ADDITIONAL GUARANTEE. r.
at is asserted by those on the inner
circle of negotiations thai while the Mer-
camille Trust Company Is not Indifferent
to the loan, IL is rather disposed to insist
upon the securement of an additional
guarantee 1t was at first surmised that
overtures would be made 10 the SeabOard
Airline, hoping that it would assume
the responsibilities of guarantee; especial
iv so since IL was generally believed that
the said road would be the most proDable
winner OF the desired link.
"The matter, however met Its nrsl
check when il reached the very point
where overtures TO the Seaboard AIRLINE
were necessary. Two conditions precedent
were essential before the SeabOard could
be even approached. In the first place
# was necessary to either complete the
road to a point where 1t would connect
with the Seaboard, or else give assurances
THAT was necessary I'm order TO make II
seryiceable to the Seaboard system. In
| the second place, 1t was necessary TO or
fer satisfactory terms upon which either
a close traffic arrangement could be ef-
fected or else by which the control oil
| the Richmond, Petersburg and Carolina
would pass into the control OF the Sea
| board Airline.
THE QUESTION OF CONNECTIONS
"At the same time. it was generally
recognized that the same link would be-
| a like valuable connection for the South
| ern Railway. The question, therefore
| among the Richmond. Petersburg and
| Carolina people was as TO whether tht
problem Of connection with one Of these
| two roads could not be promoted upor
| better terms after its completion thar
| could be done before. 1t was believed by
| the managers of the borrowing company
! that in the event negotiations were subse
ouently opened up relative TO the matter
| ~ connection the Seaboard Line and tn,
| Southern Line could each be played
against the other to the advantage of th'
| new road.
tory terms for the loan have heeD sub
| mitted. Though the parties most closely
| interested are endeavoring TO suppress.
| the general outlines OF the transaction
| n IL not denied that II Is rapidly ripeninl
| for consummation. Whether guarantee
| has been insisted upOn anu luIuiSilcu' VI
| whether other more acceptable terms
| have been devised, Is as yet financia
| secret. il is known that no overtures ha'
| been officially made to the Seaboard Air
| line on Saturday. At the same time |
was authentically stated In Baltimor
| yesterday that important dealings In con
nection with the matter were being con
] dycted at the time in New York. such a
| were likely TO bring the matter to al
| early conclusion"
THOSE INTERESTED ARE RETiCENT
Nessrs. John L. and John Shelton VIII
| uams and Mr.. w. M. Habliston were see
| ,r resnect to the above yesterday after
noon. but they all declined TO discuss tn
matter The article contained only stree
rumors. they said, and contained man
| inaccuracies and misstatements
NIr Habliston. who returned TO the cit
from New York on Monday, left agai
| ,ast night on business connected with tn
nroiect. and expects TO be In North Caro-
| lima at the end OF this week.
one thing is absolutely certain. and tina
is that the Southern Railway compan
,s in no way concerned in the negotia
tons. nor Is any proposition likely to B
| submitted to II. Some of those intereste
In the scheme DO not scruple TO say tina