New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-09-28
FUTURE OF THE l.. AND N.
. PORTED To HAVE BEEN OFF thr-' ~
THE ATLANTIC COAST LiNE-Nl-
<oRITY STOCKHOLDERS
pISS ATISFIEn.

Tho ultimate disposition Of the LoulsNlhe ana
Nashville Railroad Company is still an uH9t,'ieI
rr.s,,on The firm Of J P. Morgan d Co hoiu
100 oeo shares Of tie stock. which they bought se
.-sl -nonths ago from John W Gates and ba"ln
Hau-ley and the associates Of those two men aho
they have an option for the purchase al lS' OF az
additional 2nsepo shares. owned by the Gates anu
45ap,lev svndicates This option, which runs 10 &c
- VIII he exercised It IS learned from au-
-bo-,tat,ve sources. thus giving J P Morgan q
Co control Of the Louisville and Nashville through
u,,ersb,n Of 9es Of its sos .o shares n caP'si
stock
Asked what would he done with the properly
George W. Perkins. or j. r. morgan I" - -
terdsy answered:
There is nothing TO be said, from our s'aio-
point" 5000 that the re
port incorrect or at least pTeln 1dsn & co
circular had been sent out by ] r morgan + q
fion in syndicate 10 be formed for underySrlIlle
the transfer OF the L9IisE1liG , 1n0 ompanv The
formation of such d syndicate hoMe1Fi. I'D = Ten
on high authority, is in conterpahoI; al Cost
tat,ve orfe- has been made the Atlantic CAS-
Line Company The cyndlcate Il tqTlIeu +re a.; o
derstood would take over at l5o the eIlrg bicb ]
shares OF Louisville and Nashville stock ~ lost
morgan NO and3cate Being ii1 SIS 5n OF stock
P Morgan & Co. are understood 70 hdN r. a.
nrsse,, owD The offer TO me Atlsnne
Coast Lire Company, II is understood: ~ 60
inmates sos 900 shares the syndicate &c reeeIEF ~
payment S1OoOo00o in cash $1,000 hi,b On an
esfirated valuation of 10. would oe WvL + Sbor5s
90 and SIS 900 per cent collateral uust -, -
IF The Atlantic Coast Line Company secured pE oh
poeit of the Louisville and NaSfElI-t StIs Iii az
az tha ise1,e thus representing $5 80 oeor q tol1
of 81 $4,000 the difference between %'r mis- x
and the s45seO0eo which the e e, he I-sgsried
pend representing profit which may yr Dc $3.50 CON
not unsatisfactory t1a1tic Coast line COMPANY
and Il IS said. its acceptance IS oS "'
eured
s-oNTRoI, OFFERED TO sEABoARD AIR LIN +
* l
Ire - t ~ source was some time ago
offered TO the Seaboard Air Line at d Pr lcrn-
hoid accent the present offer. il is under
stood that vigorous opposltlon 70 l ~ bZ- minor
~ siockboiders OF the Louisville and NashNlIo nc.
inof@ded IN The negoo The Aanto S0 sn
lime Company has outstanding Slo"f'U - Kin
fin Coast Line Railroad COMPANY The latter con-
psny has ALREADY partai rea1oS o,nnsies leasing
soiDtlv the Georgia Railroad. which eXtenos ION Ton
a. 4be Atlanta Coast Lines main road The AZ
Isntic Coast Line Railroad Company a+So .Is of
bpIsbsrns extending from Selma and Montg39neTyi;
xseiv File 10 West Point Ga and q per cent OF
the stock Of the Atlanta and West Point 1oad; e1
lending from West Point 70 Atlanta where ooh'iee-
tion is made with the Georgia Railroad. ,+tooa1z
Louisville and Mas Ibe probability Of opposition
~ -be minority interest TO the putting through OF
the e,+ TeP9 36s P9I sod down from @ 1855 AND
Closed al the bottom net decline Tor the Gay 'i
AZ points
Mr. WTIIIAMS'S STATEMENT
ro sre,to, Williams president of the Seahoard
Air Line Railway. response TO inquiries as TO me
effect which the purchase OF the oes inc
would have the Southern railway st9a'loi anu
Whefher the purchase Of controlling interest IN
the Louisville and Nashville by the Atlanta SoaSo
TJra Railway will prove profita BILE and NaIua pie
enn1sition or wether il will prove unfortunate for
both, will depend entirely upon tps IF the lines
of the Louisville and Nashville system are are ns1 9
reciprocal basis with All connections without IN
friendly discrimination the union % s TO
both: hut if an attempt is made TO interfere VIII
the free interchange of business between the Louis
Vile and its present connections. such a poncS
will be followed in due course bX me G9 Neb IiiI
of railroads into tlA Lou1sNlle ah4 i.;I 1iia
TERRITORY and building Of much addiuonai iiI
ee can undoubtedl be built for less than oEe-hslf
the cost per miie OF Louisville and NashvllIe ng
1red on the basis which il is stated mas peei pau
TOT ~ nj baJ- heretofore existed between the
Tonisyie and Nashville Railroad ara its several
connections Will not be lnterrupteq II - aintai1
the desire Of the Seaboard Air Line 10
cordial relations with both allies and comPeulS21 On
do not know what arTsngenenIs %e+ +5e owners
of the Atlantic Coast Line IN GonnecoH~ ot inc
Interests. do know whether there Is any tlLn
in the report which mas TsaGeG me % finance has
been entered into between the Southern Rallway
and the Atlantic Coast Line. covering period OF
1t is certain however. that nothing has been done
and nothing viii be done. which will affect 4d3
versey the earnings and business OF the seaooarq
Line system. The lines OF TINS system now
ranfy seven Southern States. extending from baitl-
more in the north TO the southern limits Of Florida
IN the south. and to Montgomery and birmingham.
Ala in the southwest. The business Of the system
Al the present time is limited only by its capacity
10 move the freight which is offered il, and these
conditions will be interfered with by any action
of connecting lines.
member Of the firm Of J. p. Morgan & Co ex-
pressed surprise the tone Of Mr. Williams state
ment No action hostile to the Seaboard
Air Line contemplated. he said. though the
Seaboard not considered factor in the present
negotiations. This member OF the firm said he
unable TO find explanation at the time for Nh.
Wiiams's attitude
WHaT ERESHNEN HIST Not DO