Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-07-22
FALSE REPORTS
The Southern Railway Has Not
Acquired the S. A. L. System
President williams and vlce-President st.
John Deny reports That Have Gained
Circulation-Ths C. 6 o. VIII Make n
New Record To-day.

President Williams and vicc-Presi-
dent St. John were in Portsmouth to-
day and were asked what they had to
say in regard to the newspaper story
to the effect that J. p. Morgan & Co. or
the Southern Railway, had purchased
controlling interest in the Seaboard
Air Line System.
Ihey replied that the report was ut
terly false. and was doubtless being
circulated with malicious intent. and
originated with the same parties who
have been conducting the fight against
the Seaboard Air Line System for the
past lew years. To show how abso-
lutely ridiculous the story Is, they au-
thorized the statement that that entire
capital stock of the Seaboard Air Line
system had been deposited in a voting
trust, which has ten years to run. and
in addition to this, Il large majority OF
the voting trust certificates are also
owned by the voting trustees and their
Immediate associates.
President Williams also added: 1.-The
public can safely brand as false any
rumors of this sort. which are being
and probably will continue to be sot
III motion from time to time by certain
railway interests inimical to the Sea-
board. and for the evident purpose OF
adversely affecting the business Of this
system. If the Seaboard wanted TO
purchase the Southern Railway. il
could do so with much greater ease
than the Southern could buy the Sea-
board
The claim that Richmond and Vir-
gnia cities are being Disseminated
against in the new ciassilications is
denied by the railroad men. who say
that the classification was advanced
only so that the railroads might share
I'm the general prosperity of the coun-
try and that the advance was put only
on such commodities as could best
stand the increase. and that after sew
eral months consideration.
The railroad commissions OF the
Caroiinas and Georgia refused to ac-
cent this revised classiiicai ion. and be-
cause of this action the only discrimi-
nations now existing We're caused The
decisions OF the commissions are final,
and the railroads had nothing else TO
do but TO comply.
The Chesapeake ana Ohio will rush
800 marines from New York and Wash
inston to Cincinnati to-day on the
fastest schedule ever given i troop
train on this road. Two hundred and
hfty OF the tackles win leave Jersey
CITY over the PENNSYLVANIA this morn
ing. They will travel In twelve cars.
At Washington eleven more cars. filled
with 30 marines. will be put on. Fifty
four OF the Washington contingent ans
from the Norfolk navy yard
The train will be run in two sections.
a few minutes apart. They Will move
on very FAST schedule. At Cincin-
natl tie Zig Four VIII take them and
rush them westward to Chicago The
men will be aboard a transport at san
Francisco on next Saturday morning,
unless some OF the roads fail 10 ma Ike
the fast time Uncle sam has been
promised. The destination of the trans
port is said to be Nagasaki.
]. Walter IIosier. ono OF the promo
tors of the proposed line between Suf-
folk and Elizabeth City. y. c.. writes
the Manufacturers Record that s4:r-
vcys arc now being made. and the
prospects are that the limo will be built
in the near future. The distance is
about thirty-c!Sht miles.
Tho report of the Southern Railway
Company for the year ending Juno 80
has been made public ami shows some
interesting figures. The actual amount
Of gross earnings was S3l .f69. 001. an in
crease of $..i13,010, or over 10 per cont.
compared with The previous year. The
net earnings estimated for the same
period were S9.3e9, 600 The net earn
incs Tor eleven months ending May 81
show m Increase OF $Si2. 00o, and it is
believed thAt Tor the year the Increase
viii be 100000 an interesting, .act is
that thu gain is on more mica o thar
was operated during the year ending
June, 1892. After dcducting interest
and rental a balance is estimated of
SS.323 Geo, which would he equal to net
earnings OF ~ per cent. ON the pre-
ta.-;.e.I ST s-nC-tiic- cni,l,.:.nN .rl.n fn.-
mer policy of the company in main
tanning the physical condition of the
system and in carrying out extensive
improvements charged To expenses has
been continued.