The age-herald., 1899-04-21
Announcement Confirmed by President Spencer. WANT MINERAL BUSINESS TWO Roads May Be Working Quietly
 Against SeabOaTd and N, & 0.  WHEN THEY ENTER TERRITORY Officials of Three Roads Recently Held Conference in Birmingham and One
 at Louisville, When the Agree
 ment Was Reached.
WHEN THEY ENTER TERRITORY

The Birmingham Southern, the cause of so many rumors in railroad circles and the thorn in the flesh of the big railroads of the district. is to pass from under the con trol of the Tennessee Coal and Iron com- pany.
 It will be purchased jointly by the South ern railway and the Louisville and Nash vile. The information leaked out here yesterday and was confirmed by President Spencer of the Southern in New York. The news was conveyed to Birmingham by means of private telegram saying that the deal had beer practically closed.
 The property was originally operated by the Tennessee Coal, Iron and Railroad company without a separate organization Some time ago charter was obtained and the road was formed into a corporation under the name of the Birmingham South ern. It was stated at the time that the Tennessee company wanted to extend the road over the district and protect itself from high freight rates.
 The infant had no sooner begun to as- sume formidable proportions than a great
 
 were jealous of the business of the district. A few weeks ago President Spencer of the Southern and President Smith of the Louisville and Nashville were in Blrming- ham several days in conference with the officials of the new road. No agreement was reached at that meeting, but the offi- cials met later in Louisville and it is sup posed that an agreement was reached at this conference.
 officers in New York
 President Baxter and Vice-President Shook have been in New York for the past two weeks. They left yesterday and will probably reach Birmingham today. They were there principally on business con- nected with the Birmingham Southern rail- road and it is probable when they return an announcement will be made of the sale. Indeed 0 private telegram was received in Birmingham yesterday to the effect that this deal had practically been closed and that the Southern railway and the Louis vile and Nashville would act in concert in controlling the freight output of the Bir- mingham district It is said that the deal between the Southern and the Louisville and Nashville to act together is because of the fact that the Illinois Central and the Seaboard Airline are both at present mak- ing preparations to enter the district. It is probable that the official announce ment Of the sale of the Birmingham South ern of !he old Tennessee Coal Iron and Railroad company will be made upon the return of President Baxter to the city. Officers Deny Federal Steel Rumor
 The story in The Age-Herald yesterday that the Tennessee Coal and Iron company had been gobbled up by the Federal Steel company created a great sensation In Bir- mingham. The officers of the company in this city, at present, announced yesterday that they know of no negotiations looking towards the sale of the Tennessee company to the Federal Steel company, and by them the opinion was expressed that there was absolutely nothing in the story.
 In the first place they say that the Ten nessee company would maintain itself as it is and in the second place the Federal Steel company would not buy the properties at the price the Tennessee company value theirs.
 that James T. Woodward and his asso- ciates are buying largely of Tennessee stock He is and has been for few years a director in the Tennessee company and seems to have great deal of confidence in the earning capacity of that company.