The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-06-28
RUMORED THAT MIR. HARRY
WALTERS is TO BE FIRST
PRESIDENT.
s.A. |. S. FLORIDA RAILROAD PJRCHAS
Might Leave The Atlantic Coast Line in an Awk.
ward Predicament if il Should Not be
on Pleasant Terms With the
Plant System.


The South seems destined to have only
three or four great railroad systems, and
that eventually they will own or operate
nearly all the roads in the South.
The latest is that there is to be
wedding between the Atlantic Coast Lime
and the Plant System.
The Charleston News and Courier thus
details what is talked in that section:
Since the death of Mr.. Plant the pro-
bable consolidation of the Atlantic Coast
Line and Plant systems has been a much
discussed subject in railroad circles.
Dispatches sent out of New York have
stated mere than once that the Plant
lines would be operated in future under
the management of the Plant Investment
Company, but for adj that many wen in
formed men think that it is only u ques-
ton of IL short time now before the two
great coastwise systems viii be united by
a bead much stronger than that which
has bound them together in the past.
1t is presumed, of course, that the bulk
OF MIR. Plants holdings in the system
which bears his name has been left to
his son, Morton i. Plant. These hold
ings probably amount to an absolute con-
troll of the essential parts OF the property.
NJ. L. Plant is a very young man, and
while those who know him say he gives
promise OF developing into n man of
executive force, it is, of course, not to
he expected that he could for some years
to come fill the place made vacant by
the death of his father. In these circum-
stances it Itts not seem unreasonable to
expect that an important change of some
kind should take place in the manage
ment of the Plant system, and whatever
change is made is almost certain to be
in the direction of q closer connection be-
tween it ana the Atlantic Coast Line.
1.-THE relations between the two sys-
TENS have been of an intimate nature
for some years. In addition TO any traf-
fic arrangement which may exist between
them the controlling spirits of each have
an intrinsic interest of the other. Di-
rectors in the one system have also been
directors in lines of the other, and while
not united by any legal bonds, they have
been as closely together as individual
properties could well be. 1t has, III fact,
been somewhat wonderful in this day of
combinations in traffic lines than an ac-
tual consolidation of the two corpora
tons has not taken place long ago.
AS to the method by which the two
systems will be brought together should
any actual union between them follow
the death of Mr.. Plant there is much
room fer speculation. Many persons be
lieye that the Atlantic Coast Line will
proceed to acquire controlling influence
in the Plant lines, and that Mr.. Walters
will become president of the consolidated
concern. Such control as would be
needed might be obtained either by pur-
chase or by taking into the Atlantic
Coast Line family such of the Plant
people as now hold a balance of power.
But after all, railroad financiering in
this day and generation is SO curiously
and wonderfully made that there is no
telling just how it does accomplish its
ends
1T seems TO be the general impression
that the Atlantic Coast Line is to take
the initiative if any is taken. In recent
years that system has realized very keen
ly the necessity of strengthening itself
to the south and west. Its purchase of
feeders here, there and everywhere has
been an indication of this, and its persis
tent effort to get a fo0thOld In Georgia
by building towards Augusta has been
another. From the day the Florida Cen
trial and Peninsular was projected the
Coast Line understood that is future
way would not be all of roses, asld since
the ,oeaboard Air Line has followed the
lead of the Southern in going into the
far South the siuatiom has not become
less complicated. Should it ever fall out
that system in the least antagonistic
to the Coast Line should acquire control
of the Plant lines the Coast Lime would
be in a peculiarly awkward predicament.
and it is safe to say that its manage
ment will not run the risk of such a
thing happening.
''But however that may be, it is GER
tain that since Mr.. Plants death the re-
ports to the effect that the Coast Lime
and the Plant management would be con-
solidated into one have been very num-
erous, and they have come oftentimes
with an authority which left little doubt
that there was something behind them
A gentleman who was in Charleston the
other day said that he had been told by
men who knew that the deal was sure to
be made in the near future, and the same
thing has been repeated MANY times in
the city in the last two days.