New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-04-18
MORGAN CONTROL OF L. & n.
STATEMENT INDORSED BY GATES AMI
BELMONT LATER REPUDlAIEp
by G. W. PERKINS

A sunnlennental and explicit statement
y.-dine the Louisville and NashVllie' viz
uas virtually authorized by one mefllpe' VI ''io
firm Of J. p Morgan & co. ana me d. =.
20 ,,,r,cb Was confirmed by another partner III
.be same house by John w Gates anu ny M
p1,st Belmont but which late in the ai'e
was repudiated by George W. PERKINS, VI D.
Morgan & Co. was published yesterday ~ s-.
wall Street news agencies. 1t was as loio"0-
The public as well the speculative coI First
oitv should bear in mind three thingSS,r; r. no
there viii be no second, there viii shsn
.Iy controls Louisville and Nashville the , LrSo
is assured by Mr. Gates ana me a1 BaImonts state
renfs are the assurances as TO the seco ,b third
FtseT Io,1isvilie and Nashville will be operaIea
in the future 1t has been IN ne P road now is
me same as II has been heretofore, except Ilae
p Morgan controls and directs H. inf3Inate that
NJ C;ates might possibly make uouoie IN a,e
future Or ths5 ne e IS is not factor in the stua
ton and the only one 70 he reekSae1h vSr road is
Nj Morgan If is borne IN nad less, Ieete
win be no = nontEoe by him and that
should be sufficient guarantee to every one
The statement of J. P Morgan & Co seems
to be a very thorough summing UP OF the sl'ua
ton" said August Belmont. when it was SHOWN
him 1T covers the ground, and nave mourning
TO add TO it,
Mr. Gates who seen nIllt ideeh' Si
al fully concur with the sentiments expresseu
in the statement, and am GLAD tha' thes i'e0
with Mr. Bemont's approval
Nr Perkins at a later hour. however oe-
clara5 that no statement had been authorizeh
nv 7 P. Morgan & Co. beyond the one gwen
ont nv him at Sherry's on Tuesday night Ina
statement it NAV be remembered, was that al
the reouest Of Harris Gates & Co. VINO Oh
shefr own independent account had mace la &c
-,rrohases Of Louisville and NashVllle Stoch'
7 Morgan & Co. as bankers. had consenleI
70 take control Of the stock so purchased aIiu
30 receive il on deposit, their conseIlt pellI
ha sed SOLELY on desire TO relieve the llha
situation and not being referred TO the lGtet
ssfs of any railway company MI 81 hIlls
adde's IN the interview yesterday that the stoCn
mad been received and was being tFaIsLe NJ
ko + p Morgan & Co. On what terms ~
Gates and his associates have turned over Inei
Louisville and Nashville holdings 10 >. + NJ
gan & Co. and with what stipulauohs; ooti'-
moi be learned yesterday Mr.. Gates calieu o VI
Nr Perkins at noon. and his son, Charles u
Gates also paid several visits TO the Morgan
Offices in the course of the day x.
Huntsville and Nashville stock ralneo alteL
the so-called Morgan statement appeared am
sold as high as 12S&, closing only 1s point pc
low that figure. net advance OF 81 polIlls-
The Southern Railway issues deemed lac-
-ionaIlv Illinois Central was also strone' gam
sug 49, points and closing at the hlghest- on
reports that the same interests winch Were
active in securing the control OF LouisVlle ana
Nashville were endeavoring TO secure the con-
troll of the Illinois Central. as another step
1n the working out of a comprehensive pan lor
esfa hlishing a community OF interest IN lh@
Southern railway field.