The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1902-07-29
TO ABSORB THE [. & n.
RUMGR THAT The COAST LINE
WILL Get IT
P%ierpont Morgan Said to be willing,
and In Report is Believed I'm
Circles in Baltimore.
Reasons why Such n Deal is Prob
albeit Would Give the Coast Lin
a Total Mileage of 9,4OO.
Yesterdays Baltimore Sun says:

Yesterdays Baltimore Sun says:
The big advance in the price OF the
Atlantic Coass Lins Railroad Com
pany's common stock stirred up
The report that the company is nego-
tiating for the absorption OF the Louis
vile and Nashville Railroad, which is
now controlled by j. Pjerpont Morgan
& Co. Of New York On Friday OF last
week the common stock sold OF the
Baltimore Stock Exchange at 153. Yes
t5rday sales were made at 169. Within
a few month II has risen from 125.
THE report thai the Coast Line Conn
pany will get the Louisville and Nash
Vile was freely discussed in financial
circles here yesterday, and the general
impression prevailed that it is we'll
founded.
practically turned the road over TO the
Coast Line" SAID a member of one of
the leading banking firms.
OFFICIALS OUT OF TOWN.
Mr.. Henry Walters and Mr.. Michael
Jenkins. who control the affairs of he
Coast Line, are out of the city. Mr..
Walters is thought to be in New York
and ould likely conduct the negotia-
tions with Mr.. Morgan or his represent
tatives. Mr.. Jenkins left Baltimore
Thursday with mis- family for White
mountains, where he expects TO remain
until September. Mr.. Walters is vice
president Of the Coast Line Railroad
Company and president of the parent
company. Mr.. Jenkins is a director
of the former and vice-president of the
latter. Mr.. Waldo Newcomer, another
Coast Line official, is up north on his
vacation.
That the Atlantic Coast Line may
buy the Louisville and Nashville is
considered quite possible by leading
financiers of the city. The two roads
do not parallel anywhere and have a
physical connection at Augusta, Ga.
through the Georgia railroad, which
runs from Atlanta to Augusta and
which is leased Jointly by them.
WOULD ELIMINATE HOSTILITY.
Such a deal, IL is said, would elimi-
nate that hostility in Tennessee and
Kentucky which has been aroused by
the rumor that the Louisville and
Nashville will be merged with the
Southern railway. These roads paral-
lei and are competitors in 10th states,
and, following the report, Governor
Mcmillan, of Tennessee, has threatened
to a a special session of the legisla-
ture to pass a law that would prevent
a merger. 1t is not believed here that
Mr.. Morgan ever contemplated a con-
of the two roads. 1t is
thought, however, hat when he pur-
chased the Louisville and Nashville he
in view is transfer to the Coast
Line.
"Messrs. Morgan & Co., manage the
Southern Railway n have been work
ing in complete harmony with the Coast
Line. When the latter absorbed the
Plant system it gave the Southern val
liable trackage privileges. The purchase
and division of the Cape Fear and Yad-
Kin Valley railroad by the Coast Line
and Southern and Messrs. Morgan &
COS acquisition of the Charleston and
Western Carolina railroad and it's sub
sequent delivery to the Coast Line are
cited as the best evidence of the most
friendly relations between the W. in
terests. The absorption of the Louis
Vile n Nashville would give the Coast
Line control of the railroad situation in
the south east Of the Mississippi river.
The system would be operated in such
harmony with the Southern Railway, it
is said. that it would practically be
equivalent to a merger.
WOULD REQUIRE $50, 600, 900.
The outstanding stock of the Louis
vile and Nashville amounts to $50, 0O0,-
600, and if the plan Of Morgan & Co. to
pay $3.50 a share for it is carried out
$50, 600, 900 will be required to complete
the deal.
I'm round numbers the combined
mileage of the Coast Line system and
the Louisville and Nashville is 9,4OO."