Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-01-05

ciers and president of the Georgia and
Alabama railroad, left here to-day for
Baltimore in connection with railroad
deal comprising the purchase of the
Seaboard Air Line and it's consofida ton
with the Georgia and Alabama, to
make, with other connections, Il
through line from Washington to Jack
sonville. The connecting links between
Washington and Ridgeway,N. C.,wherS
the Seaboard Air Line is reached, will
be the Richmond, Petersburg and Car
olna road, now under construction
south from Petersburg, and for which
necessary property was recently bought
in this city for a right of way through
the city and ample depot facilitles. BE
tween here and Washington the Rich
mond, Fredericksburg and Potomac
railroad and the Pennsylvania line Is
to be used. Mr.. John l.. Williams de-
clined tonight to discuss the deal. He
practically admitted most of the facts
above stated 1t is said that the largest
capitalists in Richmond are heavy IN
vesitors in the big scheme. and If car
ried Through the headquarters OF the
company will be located here.
"Mr. John SHELTON Williams was seen
at the the Stafford last night" says the
American, land while he would not go
into details respecting the deal on foot,
he practically admitted that the ulti-
solidate the Georgia and Alabama, Sea-
board Air Line and connecting lines.
WHAT THE DEAL WOULD COST.
The Sun states that, 'if the report
ed figure of 5000 a share is correct, 1t
will take considerably less than $2,oOo. :
600 10 buy OUT the pUOf, cost
of securing the entire common STOCK
would be about 81. 100000. For this sum
,bo ex,rdicata would SaclIre control of
a system running from Norfolk TO At
lanta, Ga, with a number of feeders
and branches, and aggregatng about
], 900 miles of railroad. Embracing
twelve corporations the combined cap
ital stock of the system is s5,SS2, $50, and
the total bonded debt is $lT,112, 900. For
the fiscal year. which ended June 80,
1898, the receipts of the system from
all sources were $4,0i1,554. OF this sum
the gross income was 81, 403,6i and the
net income $26S, 800. This road reaches
number. of important cities. and
brought into a combination with the
Georgia and Alabama and .ruch other
lines that might be built by the syndi-
cate, it would be rounded out into a
powerful system.
THOSE WHO ARE INTERESTED.
For a long time the Seaboard has
been aiming to get a through rail route
to the North, and it is likely that this
will be one of the first moves of the
syndicate. There is a project to build
to Richmond, from connection with
the Seaboard system, which would fill
in the gap and make possible such a
line.
The Georgia and Alabama Is the
shout route from Montgomery, Ala. to
Savannah, Ga, and connection with
the Seaboard Air Line could be made
by building a new road through the
belt of territory which now separates
these two systems. Mr.. John SHELTON
Williams. of Richmond, president of
the leading spirits in the syndicate
board
THE NEW OFFICERS.
If the deal is consummated Mr.. John
Shelton Williams will no doubt be
placed at the head of the new system,
either as president or general manager.
While the new system will have a
straight all-rail route between Balu-
more and Atlanta, and Portsmouth will
be on n spur of the main line, the fact
the steamboat line will enhance It's
prominence as a terminal point instead
of detracting from II.
OF course nothing could be learned ms
to where the general offices of the new
system would be, or what change
would be made in the officials. but
there seems to be little doubt that di-