The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-07-28
MAY HAVE "ELLEN N"
COAST LINE SAID TO BE NEGOTIAT-
ING FOR 1T.
NO ANTAGONIST TO SOUTHERN
MERGER WOULD BE A NATURAL
EXTENSION OF A. C. L.

RumOr of the Deal Generally Credit
ed in BaItimOre-Jump in Coast
Line Common stock the Basis to
Some Extent for Belief in the Alb
sOrption by Coast Line of L. a n.
observation-disclosures Said to Be
willing.
The latest railroad rumor is that the
Atlantic Coast Line is negotiating for
the absorption of the Louisville and
Nashville, or has already Sc
cured it. The report comes from
Baltimore where it is the talk in finan-
cial circles. The Louisville and Nash
vile is controlled by Pierpont Morgan
e. Co
81 think Mr.. Morgan has already
practically turned the road over to the
Coast Line" a member of one of the
leading banking firms of Baltimore is
quoted as saying.
The recent talk of a general merger
of Southern roads following the Coast
Line absorption of the Plant System,
and that now followed by the Coast
Line-Louisville and Nashville talk
adds interest to the railroad situation.
Credited in baltimore.
The jump in Coast Line stock is said
to be largely responsible for
the merger rumor. The deal
is considered quite possible by
financiers. The two roads do not par
allel anywhere and have a physical
connection at Augusta, through the
Georgia Railroad, which is leased joint
ly by both roads.
In connection with the reported alb
sorption the Baltimore Sun of Satur-
day says:
Such a deal, it is said, would elm
mate 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 par
allel and are competitors in both states,
and, following the report, Gov. Nc
Millin of Tennessee, has threatened to
call a special session of the Legisla-
ture to pass a law that would pre-
vent a merger. 1t is not believed here
that Mr.. Morgan ever contemplated a
consolidation of the two roads. It is
thought, however, that when he pur-
chased the Louisville and Nashville
he had in view it's transfer to the
Coast Line
Morgan Said to Be willing.
Morgan & Co. manage the South
ern Railway and have been working in
complete harmony with the Coast
Line. When the latter absorbed the
Plant System it gave the Southern
valuable trackage privileges. The
purchase and division of the Cape Fear
and Yadkin Valley Railroad by the
Coast Line and Southern and Messrs.
Morgan e. Co.'s acquisition of the
Charleston and Western Carolina Rail
road and it's subsequent delivery to the
Coast Line are cited as the best evil
dence of the most friendly relations
between the two interests. The alb
sorption Of the Louisville and Nash
vile would give the Coast Line control
of the railroad situation in the south
east of the Mississippi river. The sys-
tenn would be operated in such har-
mony with the Southern Railway, it
is said. that it would practically be
equivalent to a merger.
Nearly 10000 Miles of Track.
"The outstanding stock of the Louis
vile and Nashville amounts to $780,
000, 000 and If the plan of Morgan &
Co. to pay $3.50 a share for it is car
ried 500, 900 900, will be required to COM
pete the deal. In round numbers the
combined mileage of the Coast Line
system and the Louisville and Nash
vile is 9,400'
MIR. Henry Walters and Mr.. Michael
Jenkins, who control the affairs of the
Coast Line, are out of the city. Mr..
Walters is thought to be in New York
and would likely conduct the negotia-
lions with Mr.. Morgan or his repre-
sentative. Mr.. Jenkins left Baltimore
Thursday with his family for the
| 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 pres
id4nt of the latter. Mr.. Waldo New
conner, another Coast Line official, is
up North on his vacation"
The common stock of the Atlantic
Coast Line. which is paying dividends
of per cent, advanced to 1863, an in
crease of 16 points. last week, and the
rise was ascribed to the reported deal
between the two roads named. 1t is
explained that Morgan could hardly
consolidate the Louisville and Nash
vile with the Southern, another Nor
gan property as it is competing line,
md haf he