The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-04-13
The Result of Several Conference That
Were Held in That City
Yesterday.
BUT TWO LINES IN THE SOUTHEAST
Such Would be the Result of This Deal. Be.
lieyed in Atlanta That the Southern
Will Absorb the Plant and
A. E. |. Systems.
A. c. |. Systems.
(By the Associated Press.)


New York, April 12.-As a result OF
several conferences held today there is
a very general conviction that control
of the Louisville and Nashville Road
has passed or will pass to the Southern
Railway.
Representatives of the Louisville and
Nashville and Southern roads and a
member of the aGtes faction We're in con-
sultation early in the day and later
John w. Gates was closeted for almost
an hour with George w. Perkins at the
office Of ]. P. Morgan and Company.
Neither Mr.. Perkins nor Mr.. Gates
would say what passed between them,
but it was admitted that the Louisville
situation was discussed in it's several
phases.
The most authoritative report dealing
with the recent course of the Louisville
and Nashville is substantially as fol-
lows:
"Ssometime ago Southern Railway in
terests, alarmed at the increas sing
strength and prosperity of Louisville
and Nashville made an offer for a ma
jGrity interest. The offer was declined
by foreign holders of Louisville and
Nashville who held the balance of pow
er.
Recently when Louisville and Nash
vile increased it's capital stock by S.
900 Mr.. Gates and his associates saw
An opportunity to squeeze the insiders
by buying Louisville in the market and
creating a scare in the stock. 70 what
extent the aGtes faction succeeded is
still matter of conjecture. but is not
doubted that they were in a posicn to
swing large block of stock either way.
'Eonditions seemed ripe for an at
tempt to gain control of Louisville and
Nashville, and the Southern Railway in
terests, as represented by Morgan and
Company. authorized the Moore Broth
ers TO acquire as much of the stock as
possible in the open market, with the
understanding that this stock would be
taken over by the Southern road.
Banking interests in which the Moores
are especially prominent, have been
heavy buyers of Louisville and Nash
vile, and one bank in particular, is said
TO have called a number of loans this
week so IS to accumulate the money for
its purchase of Louisville stock Wall
street believes that some sort of a COM
munity of interest deal between Rock
Island and the Southern Railway will
uo4low the change in Louisville and
Nashville ownership"
The Evening Post discussing the situa-
tlon in Louisville and Nashville, says:
All indications seem to point to the
tact that the control fthe Louisville
and Nashville Railway is now so held
that 1T can be turned over to the Rock
Island Railway. The matter had not
been determined at the close of business
today and facts are as lacking as thew
have been since the excitement in Louis
vile and Nashville shares began some
days ago. Opinion in Wall Street is in
nebulous condition as 10 who now con-
trolls the company, but there is convic-
tion that control has passed from the
Belmont interests, and that John w.
Gates has been a factor. in it's passing
There appears to be good foundation
Tor the opinion that Mr.. Gates NAV now
be in a position, by throwing his stock
one way Or the other to decide what in
> terest shall Hereafter contrel Louis
vile and Nashville. Not much doubt is
felt that the Moore interests will Sc
cure his proxies, or the stock he holds. -
According to the Evening Post the
Choctaw road was purcased for the
Moore interests by Speyer & Company as
part of the plan for Rock Island ex-
tension.