The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1902-08-16
RAILROAD WORLD.

While the representatives OF the frisco
system and the Sesbcard Air Line, who
have been holding conferences with a
view to settling the issues growing out
of the Belt Line litigation, have not yet
reached a final agreement, 1t is known
that they are not far apart. A settlement
may be looked for at any time When this
is accomplished the Belt Lines motion
for appeal from Chancellor Carmichaers
decision will be withdrawn.
The Baltimore Sun OF Thursday says:
The unprecedented activity in dealings in
Seaboard Air Line railway stocks during
the past few days and the breaking of
all previous records on prices and
amounts of sales have stirred up lively
gossip in financial circles. Conjectures
as to the cause have been freely in
dulged in, but so far no one has been
able to give reasonable explanation.
If, as Is strongly believed. the control
ing spirits of the Seaboard have big
deal on hand. they have so far succeeded
In keeping knowledge of it from the pub
lie. Mr. John Shelton Williams, the pres
ident, is In New York, and Mr.. ]. w.
Middendorf of this CITY, the vice presi-
dent, is in Europe.
A report is to the effect that commun-
ity-of-interest arrangement Is 70 be made
between the Atlantic Coast Line, South
ern railway and Seaboard TO JOINTLY take
control Of the Louisville and Nashville.
now held by j. P. Morgan & Co. of New
York. Mr.. Morgan IS now on his way
home from Europe, and when he arrives
some important developments are looked
for.
board changed hands ON the local market
yesterday. OF course, there was some
manipulation, with buyers realizing short
profits on quick sales.
The New York Commercial says the
expected consolidation or combination Of
southern roads continues to be the most
interesting topic of conversation in rail-
road and Wall street circles.
Notwithstanding repeated and emphatic
denials the belief Is general that negotia-
lions of the most comprehensive nature
have been going on between some of the
largest banking interests with the object
of completely readjusting the southern
railroad situation.
Just what the character of these nego-
tiations are, or just what roads will be
included in the expected combination. no
one appears to possess and definite
knowledge.
The Illinois Central is recognized as
being the keynote TO the situation. With
the exception of this property the other
prominent southern roads are dominated
| by the Morgan interests.
The Illinois Central interests have re-
fused to agree to any arrangement which
does not leave that property entirely in
dependent. On the other hand the same
interests have definitely stated that any
amalgamation Of the Southern and the
Louisville and Nashville will be consider
ed as jeopardizing their present position
in the southern territory.
1t is this stand taken by the Illinois
Central interests which so complexities
the general situation.
The last report bearing on southern
railroad combination is that the Louis
vile and Nashville Is to be leased to a
holding company, which is to guarantee
per cent dividends on its stock. Pre-
cisely how this arrangement is to be car
ried out is not disclosed, although 1t is
said the Seaboard Air Line, the South
ern and the Atlantic Coast Line will con-
| tribute in one way or another 100000
| cash.
This report was generally discussed In
the best informed Wall street quarters
today. 1t was emphatically denied by a
member Of the firm of J. P. Morgan &
| Co