The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1902-04-15
Makes Proposition During Con-
ference in Office Of ].
?. Morgan & Co.
REPORTED TO CONTROL
100000 SHARES OF STOCK
Prominent Railroad Officials and
Bankers Attend Meeting, But Re-
fuse to Give Out Any Definite
Information of the Deal.

New York, April 14.-An important con-
ference on Louisville and Nashville was
held at the office of ]. P. Morgan & Co.,
late this afternoon and it is learned on
high authority that control of the Louis
vile and Nashville was offered by John
w. Gates and his associates to ]. P.
Morgan & Co., probably for transfer to
the Southern Railway Company. Whether
or not the negotiations were completed
and the offer accepted could not be defln-
itely learned.
The purchase of the controlling inter
est in the L. & N, is said to have been
affected by a syndicate of eight or nine
members including Messrs. Gates and
Hawley and John A. Drake, ]. ]. Nit
chell and Isaac. L. Ellwood of Chicago.
1t is said that the syndicate owns or
controls full 100000 shares of the stock
out of total capitalization including the
10000 shares recently sold but not yet
listed on the stock exchange of 100000
shares A considerable part of the syndi-
cate holdings however, is understood to
represent their unlisted stock which will
not be "a good delivery for about three
weeks to come and shares sold by for
eign holders on contracts for delivery
within the next week fortnight.
MEN IN CONFERENCE
REFUSE TO TALK.
Those present at the conference were
Gen. Perkins and VIM. P. Hamilton of
J. P. Morgan & Co, John w. Gates, j.
F. Harris head of the stock exchange
house of Harris, Gates & Co., in which
Mr.. Gates is special partner and Ed
ward H. Hawley, president of the Iowa
Central and Minneapolis and St Louis
roads who recently, with his associates.
acquired control of the Colorado &c South
ern Railway Company. Talbot ]. Tay-
lor was present for short time but on
leaving the meeting he absolutely re-
fused to say anything about his mission.
Mr.. Perkins and Mr.. Hamilton were
similarly non-communicative and Messrs.
Gates, Harris and Hawley when efforts
were made to see them up town in the
evening declined to meet reporters.
Countless rumors have been going the
rounds of the financial district for days
connecting the Southern with the control
of the Louisville and Nashville Moth
Of ia1 att1ra bas
been obtained.
The several conferences of last Satur-
day, including that between Mr.. Gates
and G. w. Perkins at the office of j.
p Morgan & Co., and the one are regard
ed with more than little significance by
students of the situation.
GATES CONTROLS
100000 SHARES.
Mr.. Gates and his associates are report
ed to own or control more than 100000
shares of Louisville and Nashville, of
which the total share capital is 100000
shares Some of this is on contracts
for delivery within the next three weeks.
IT is not doubted that Louisville and
Nashville and Southern railroad situation
was thoroughly discussed at the meeting
between Messrs. Perkins and Gates, but
with what result may not be known for
some days.
Conservative opinions incline to the be-
lief however that southern interests will
soon be found dominant in Louisville. The
utrength of Illinois Central during today's
early session of the stock market gave
rise in some quarters to the belief that
the railroad would be found in control of
louisville. The best information fails to
bear this out. Louisville stock was active
and feverish and rose towards noon to
125A The stock market caused signs of
uisgivings and depressed the general
market.
HAS CONFERENCE
WITH PERKINS.
Mr.. Gates had another talk with Mr..
Perkins today and soon after President
Spencer of the Southern Railway visited
the Morgan banking house. One of the
afternoon reports had it that Morgan
& Co. had been asked to take thS Louis
vile matter in hand and effect sMsettle-
ment if the terms of the Gates raction
was not too onerous. On this and all other
matters all hands maintained reserve.
Mr. Perkins said that under no circum-
stances would he talk about the matter,
and Mr. Gates declared Louisville was the
one thing he must decline to discuss.
TT has been said Mr.. Gates that you
and your friends control more than 100000
shares of Louisville.
II cannot prevent people from talking"
was Mr.. Gates reply, "but I again tell
you that 1 am not talking on this SUBJ
1ect."
Report Denied.
Louisville, KY, April 14.-Regarding a
report which has been sent out from here
TO the effect that Atilfa Cox of this city,
director of the Louisville and Nash
Vile Railroad, had confided to John w.
Gates the fact that 100000 worth of new
Stock would be issued, thus giving him
the information which led him to try to
gain control of the Louisville and Nash
Vile. Mr.. Cox said today: THE whole
thing is untrue from beginning to end.