The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1899-02-01
THE SOUTHERN
GETS NEW ROAD
Gains Control Of the Northern Of
Alabama.
TAKE CHARGE AT EARLY DATE
Will Then Have Through Lines to
Memphis.
is SOUTHERN AFTER SEA80ARD?
A Rumor in Railroad Circles That Pur-
chase OF SeNboard Stock by =
Syndicate Had Something
to Do With This.
IS SOUTHERN AFTER sEAB0ARD :?

Tho Southern railroad has consummated
tho deal whereby it has obtained possess
sion OF the Northern Alabama railroad and
Will at am early date begin to operate that
line.
Although 1t has not been publicly an
nouneed by tho officials of tho company,
the deal, which has been talked of for a
month or more, has been carried through
and that tho officials are now making their
ARRANGEMENTS for operating the road.
The Northern Alabama, as is well known,
runs from Parish, on the Southern road,
between this city and Columbus, Miss, in
northwesterly direction to Florence. 1t
runs through territory extremely rich in
mineral resources and covered with an
abundance of hard woods which are unex-
celed for manufacturing purposes. None of
these great natural resources have ever
been very extensively developed because
the railroad was such short one that no
satisfactory rates could be made with the
roads at either end to get the products to
the big markets. But in the future they
can be distributed by the Southern system
all over the south and find abundant mar
kets
1t is stated that as soon as the Southern
assumes control of the new road that they
will put on through line both of freight
and passenger trains from Birmingham,
via Jasper and Florence to Memphis. This
route between Birmingham and Memphis is
only twenty-seven miles longer than the
line of the Kansas City, Memphis & Biz
mingham railroad
The shipments in freight from the south
eastern portion of the United States to the
northwest is very extensive, and at present
the Southern has to handle these freights
all the way around by Chattanooga. or else
they must be handled by two or more roads
through Birmingham and Montgomery
both of which plans were very unsatisfac-
factory. Now one road can handle the stuff
all tho way.
No End of Rumors
There is no end of rumors of big "deais
in the railroad world just now among the
very latest being that the Southern is
figuring to buy up the seaboard Air Line.
OF course this is nothing more than rumor,
but there are a number of facts which in
a measure substantiate these reports
In the first place it is known that only a
short while ago a syndicate headed by
John Shelton Williams, president of the
Georgia ana Alabama railroad, got control
of a majority of the Seaboard stock. This
buying has been going on for some time
and finally when the syndicate's plans
were realized, the remaining stock went up
to enormous figure, and it is said that
for the last shares they bought, the syndi-
cate had to pay 5000 a share. 1t is gem
orally supposed that Mr. Williams will
soon be elected president of the Seaboard
to succeed r. c. Hoffman, whom 1t is sup
posed will resign.
Now comes the report that the Southern
is trying to buy up the interest of the Will
liams syndicate in the Seabord President
Spencer of the Southern is known to have
sailed for Europe the other day and a rail-
road man of Washington who is very close
to him, says that he has crossed the ocean
to consult ]. Pierpont Morgan, who is now
over in the old country, on the advisability
of buying up the Seaboard. 1t is said that
the Southern can get as much stock as
they need to get control of the line, for
$3.50 share
What there is in this rumor remains to
be seen.