The times. [volume] (Richmond, Va.) 1890-1903, 1901-01-31
A GREAT ACQUISITION.
Gives Direct Short Line From ST.:
Louis and Cairo to Gulf.
VALUABLE MOBILE TERMINALS,
VIII Enable the Southern to Develop
traffic Ihrougn Tint Port
Moro Extensively Than Here
tofore-Another Advantage
is III Gaining Entrance
TO City OF Montgomery
iR, Associated Press.l

tB, Associated Press0
NEW YORK. Jan. 3o.-The Southern
Railway Company to-day secured con-
1rol of the Mobile and Ohio Railroad Com
pa1,y. The terms were briefly outlined in
a statement given out tonight by w. But
Ter Duncan, chairman OF the Board OIL
Directors Of The Mobile and ONO Raii-
road Company.
Mr. Duncans statement follows
a"The Souther-llfs aiI,Say Company has
offered to the holders OF the bonds and
stock of the Mobile and Ohio Railroad
Company, in effect, the guarantee OF the
general mortgage four per. cent sbonaS OF
the latter company, and TO the stock
holders of the Mobile and Ohio Railroad
Company an annaul payment equal to a
dividend of 2 per cent. for the first year.
per cent. for the second and 1 per cent.
for perpetaity thereafter.
The passing OF the control Of the Mo-
bile and Ohio r afiroad through the own
ersffp of the majority OF the general
mortgage bonds is complete, as dar as the
transfer is concerned, and the deal only
awaits confirmation. by the Southern
Railway Company.
When Chairman Duncan was asked to-
night as 10 whether there was any possi-
iIiity of thes arrangements falling
through, he replied that there was no
possibility whatever.
Mr.. sPENCER'S STATEMENT.
President Samuel Spencer, of the South
ern Railway Company, gave out the fol-
lowing statement:
The circular addressed to the general
mortgage bondholders and to the stock
holders of the Mobile and Ohio Raiiroad
.sexplains the translation of the proposed
acquisition of those securities by the
southern Railway Company, and by this
means of the control and management CT
the Mobile and Ohio property.
: sfhe value of the Mobile and Ohio TO the
Southern rs chiefly in giving to ii a direct
short line from st. Louis and Cairo TO
The valuable terminals of the Mobile and
Ohio at Mobile. used in connection with
those of the Southern wi,1 enable the
Southern to develop traffic through that
port to am extent which would not be
practicable TO either Of the two lines op-
erseted separately, and The recent ilcqui-
sition by the southern of large and valua-
BILE terminals at Fart st. Louis through
its ST. Louis division. which are very much
larger thar those possessed by the Mobile
and Ohio, will enable the Mobile and
Ohio line % develop business at and from
the st Louis gateway to an extent and
in a manner that would hive been i'm
lIpSSIIIS WIN tilt IiIIllet ItTll!1lilS lltft-
Iofore available to the Mobile and Ohio.
STRENGTHENS BOTH
The Mobile and OHIO had previously
built a line 10 the edge of the Blrming-
ham coal and iron district, but without
gaining a real entrance. TGGiS entrance
the Southern can new furnish in the
most adequate Way without further con-
struciion or purchase OF terminals. This
wild materially strengthen the Mobile and
Ohio property as well as the Southern.
The Southern viii reap another ad
vantage in gaining an entrance into the
city of Montgomery.
President Spencer expects to start South
within Il day or Two. and he viii make a
thorough investigation of the Mobile and
Ohio property.
Final Decree Entered.
(By Associated Presso
INDIANAPOLIS, IND, Jan. ga final
decree wals entered in the United States
Court here to-day which directs the turn
ing over at midnight tomorrow of all the
personal property of the Louisville, Evans
VILE and st. Louis Railroad 10 the South
ern hallway Company
The Mobile and Ohio is a road of some
S15 miles in leIEgLh. and when il IS turned
over TO The Southern. this system will
have a new line. leased and operated with
ii
the Gulf OF Mexico, 4 branch from
Columbus, Miss, TO Montgomery, Ala.
and connections over the New orleans
and North Eastern, thus affordins, en-
Ilance into New Orleans.
RAILROAD NOTES,
Dr. David Cardwcli. division freight
agent of the Southern Railway, with
headquarters al Columbia, S. c., is \
lachmcnd visitor Colonel Eardwen is
probably the most popular railroad man
in South Caralina. and is well known
throughout the South Colonel tardwell
is one of the veterans in southern Rail
way circles and Was formerly with the
Richmond and Danyille. He is a native
OF Richmond and has many friends in this
city.
The Big -Four has issued a circular an
nouncing the appointment of George IL
Ingalls,, assistant general freight agent
Cincinnati: Joseph keavy. division freight
agent at indianapolis has been made as
.sistaart general freight agent at thnt
point. and George D.efenback is made
division freight agent at Dayton. Q.
Nir. Il. p Smith. division passenger
r-ent of the Seabaard Air Line, is disifl-
buting safnong his friends a most attrae-
tive ..ad" OF the Seahoard system The
..ad.,' is an engraving Of a sweet-is1eed
little miss studying the roate of the 5.
A. L. The picture is nedtly framed III
gilt and is the subject Of much Favorable
comment
Mr. Charles D.--,simonson has been ap-
r.,iDtea general Eastern agent OF the
Colorado Midland. with HEADQUARTERS at
New York.
csn,nan ]. 7. Bailey. of the Chesapeake
and Ohio. who was injured near Fulton
Monday, Is Improving and will soon take
his run
The Colorado Midland has issued 3 cir
cuipr announcing the abolition OF the OF
fee OF general freight agent and mere
after All matters formerly handled by
that department will come under the st-
pe;yision of the traffic manager.