Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-10-21
SOUTHERN NOT IN A. G. L. DEAL.
Action of Kentucky Commission
Hard to Understand.
(New York Commercially

Hard to Understand.
(New York Commercially
| Two things on Saturday made the South.
| ern the most talked about railroad in the
| country. One was the arrival of President
| Samuel Spencer from Europe, where II
| was said repeatedly during Mr.. Spencer
! absence he was negotiating for the pur-
| chase of several small but important road s
| in the South, one in particular that has an
entrance into New Orleans.
| MIR. Spencer had little or nothing to say
! about his European trip. He was toe
| much concerned with the latest news
about his own road. This news was the
| informa ton that the Kentucky State Rail
| road Commission had complained to the
| Interstate Commission that the Southern
was concerned in the merger of the Louis
vile and Nashville with the Atlantic
Coast Line.
WALL STREET SURPRISED.
The act Of the kentucky commission
startled Wall street, because in all the
negotiations which resulted in the final
disposition of Louisville, great care was
exercised to keep the Southern railway
free from an imputation that it technically
was concerned in the important deal. Ac-
cording to the statements of men COM
potent to speak for the Southern and for
the Louisville and Nashville, there has
been no suggestion of any deal whatsoever
between these roads J. P. Morgan & Co.
dominate the affairs of the Southern and
the same firm controlled the Louisville &
Nashville until the contract was signed for
the delivery Of a majority of the stock for
that road to the .Atlantic-Coast Line.
SOUTHERN FREE FROM ALL.
One of the specific reasons for the trans
fer of control of the Louisville & Nash
vile to the Atlantic Coast Line, was to
associate the Southern and the Louisville
& Nashville The railroad laws of several
Southern States would have interfered
with even an implied control Of the Louis
vile & Nashville by the Southern, and
consequently no Southern railway interest
in the Louisville road has developed.
These two companies own Jointly the
Chicago, Indianapolis and Louisville
CMonon), which is not a competitor Of
either road, being a connection of each
and a feeder only.
1t is said on good authority that the
Southern will continue to remain an alb
solutely independent property with no al
liances that might transgress the laws of
the State in which its lines are operated.
It's relations with the other railroad sys-
TENS of the South are to be as harmonious
as the traffic managers Of the different
roads can make them.
SOUTHERN'S REAL STATUS.
A community of interest such as will
maintain uniform rates and prevent I'M
necessary expenditures for aggressive in
vasion of rivals territory will prevail,
simply because the owners of the respec-
tive properties believe that to be the best
business policy.
The statement is authoritatively made
that the Southern has 70 interest what
ever in the purchase OF The control of the
Louisville & Nashville by the Atlantic
Coast Line.
OF course, tho proposition to continue
the voting trust for five years has given
rise to various rumors as to the future
control of this property. 1t is suggested
that the nearest that Louisville & Nash
vile stock has come to the Southern was
when the Gates-Hawley block was lodges
with ]. P. Morgan & Co, awaiting DISPOSE
ton.
On whatever basis the Railroad Com
mission of Kentucky may be working in
it's complaint to the Interstate Commits
sion prominent interests in the Southern
are not at all concerned about the out
come.