The age-herald., 1899-08-19
PRACTICALLY
 CONFIRMED Story That Southern and |. & N. Will Come Together. WILL BE- GIGANTIC SYSTEM
Would Aggregate More than 9, 100 Miles Owned, Leased and Controlled Under One Management Counting the
 N. c. & St. L. Would be $500

The Age-HeraldS exclusive story printed more than a month ago that the security owners of the Southern Railway were buy ing up and would secure control Of the Louisville and Nashville system, consoi- dating it with the Southern, has been prac- tically verified.
 The owners of the Southern are now in control of a majority of the stock of the Louisville and Nashville system, and as definite plans are perfecting the Southern will enyelop the Louisville and Nashville system. A In an elaborate article on the subject, the Atlanta Constitution of yesterday said:
 Two or three months ago the South- ern and the Louisville and Nashville entered into a joint arrangement by which they secured possession of the Tennessee Coal and Iron company's rail lines around Birmingham. That gave the two roads access to all the leading coal and iron mines and furnaces in the Birmingham district.
 ''Now it develops that the Louisville and Nashville has parted with an in- terest in the Georgia railroad lease to some company friendly to the Southern, probably the Atlantic Coast Line
 How far the consolidation will go is a matter of speculation.
 A complete merging of the two great companies would make a gigantic sys- tenn the largest in mileage in America. es it would aggregate more than 9,1OO miles of lines, owned, leased and con- trolled under one management. And counting the Nashville, Chattanooga and St. Louis, it would amount to more than 9500 miles.
 The Southern railway Is now operat- ing nearly 5000 miles. If the Alabama Great Southern is counted as South ern property, there would be S0S moro miles to add
 Taking the mileage of the two sys- tens as they appear in the Railway Guide, and the total mileage is 9,2t miles.
 The Southern's total capitalization bonds, common and preferred stock, is about S3D0, ,O0O,0OO. The Louisville and Nashville has $55,- OOO.OO0 of common stock and nearly $100 0O0,0 600 of bonds.
 So the total capitalization of the con- solidated system would be more than s45e O00 000 or almost half a billion.
 The gross earnings of the two sys- tems for the year ending June 30th last, were almost $50,eO0,OO0.
 The Pennsylvania and one or two other systems have greater earnings, but if this consolidation Is carried out it will not be many years before the vast system will lead all the other companies in the United States in earnings
 As the south grows, the railway earn ings increase and the south is getting richer all the time.
 The iron and steel industry is al- ready immense in the south.
 New England cotton mills are coming to the south.
 Immigration is coming with the indus tries.
 Flagler Morgan, Belmont and Fish realize that this is going to be very rich country.
 The head of the Rothschilds' English house made the discovery some years ago and announced it.
 Louisville and Nashville securities have been a favorite investment with Europeans for years Recently the stock has been advancing steadily. Last October it was down to $43 share. Yesterday it was sS0 a share.
 Last October Southern railway pre- ferred stock was $SS a share. Yester- day 1t was $54