The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-09-30
70 Succeed Sup. D. H. Bar
ger, of The S A l.
N i,r Huger Held the Position Last Dec mo'I
and January, and Was Extremely Popular
Takes Chargs Get, 1st.

Raleigh to succeed Mr.. ID. H. Barger as
superintendent of the Second Division OF
| the Seaboard Air Line Railroad, taxing
charge on October LIST.
| 1t was reported here yesterday that
circulars had been issued announcing the
| above fact, and inquiry at headquarters
| proved the truth of the report.
This will be welcome news to Ralelgh
| folks and to railroad men in this Sec
ton. Major Huger as everyone here
! knows. filled this position for about two
months last winter, during December
and January, leaving to accept the super
i intendency of the Charleston Division OF
the Southern Railway.
| He came here from the Knoxville DiVls>
ion of the Southern Railway. He had
been located in Knoxville for many years
| having been connected with the old East
Tennessee, Virginia and Georgia Rail-
road. before that road was absorbed by
the Southern. After that he continued
with the Southern until he came to Raj
eigh last December.
Major Huger is native of Charleston
s. c.. and is a typical Southern gentle
man of the old school. He made very
MANY friends during his short stay in
with delight. Among railroad men he is
extremely popular, on account OF his ever
considerate. courteous ways.
-
The Atlantic Coast Line has increased
the wages of coach carpenters, painters
and timers. A week ago the wages OF
the machinists and boiler makers was ad
vanced.
The Nashville American has special
New York correspondent who keeps post
ed on all matters relating to Louisville
and Nashville stock. His Sunday special
is as follows
THE situation with respect to the ultl-
mate disposal of the controlling interest
in Louisville and Nashville shares, now
owned by j. p. Morgan & Co, as 1T de-
veloped, was this:
-. P. Morgan & Co. appear to have
sounded their several large correspond
cnts and principal parties in interest
upon the project of turning over the
control to the Atlantic Coast Line
whether the Atlantic Coast Line Com
pany, of Connecticut a securties-holding
concern, or to the Atlantic Coast Line
Railroad Company, one of the corpora
lions majority of whose stock is owned
by the Connecticut company, is not GER
tain, though most of the reports mention
the securities holding concern.
1T is proposed to form an intermediate
syndicate to acquire the 306,00 shares or
Louisville and Nashville owned or to be
owned by the banking firm, this being the
stock of which about 100 00G shares were
bought outright from John w. Gates,
Edwin Hawley and others, and for the
remainder of which an option. to expire
October L. had been given at $3.50 a share.
The price the syndicate is to pay is set
at $3.50 share or $4,000. 900 for control
This syndicate is expected to deliver to
the Atlantic Coast Line Company the
whole block of SOC, 900 shares.
In payment the preliminary proposal
is that the syndicate shall receive:
~, $10,000,000 in cash; (2) $4,000 900 in
per cent. collateral trust bonds of the
Atlantic Coast Line Company, secured
by deposit of the Louisville and Nashville
stock; and 49, $5,OOO,OOO in Atlantic
Coast Line Company stock
THE lucrative nature of this bargain,
if accomplished, first appears when it is
recalled that Wall street had good rea-
son for believing at the time the corner
in Louisville shares was averted that the
price paid by present holders of the I0O,-
900 odd shares first bought by them, was
not far from $50. These, however are
apparently to be taken by the syndicate
at the same price as the 100000 odd
shares, which will be sold at cost
What chance there is in the deal for
the underwriting syndicate depends, in
part, upon whether the members get the
securities holding or railroad stock. The
Atlantic Coast Line Company, of Con-
necticut. shares, of which $4,000, 900 are
issued and $30,0OOOOO authorized were
quoted in Baltimore last night at 360A
bid, 400 asked the par value being 100.
August 18th the quotation was 2S5029O."
In spite of his 65 years of age and the
terrible injuries he received last Tues
day, Sandy Ellis, stands a good chance
to recover. 1t will be remembered that
Ellis fell from the pilot of a switch en-
CINE on the Atlantic and North Carolina
road and the engine passed over his legs.
Drs. Primrose and Rhem amputated the
limbs, but neither physician gave any
hope that he would get we'll. In fact, his
condition today, considering all the cir
cumstances of the case is regarded as
very remarkable.-New Bern Journal.
A special from Newton to the Charlotte
Observer, says: "A man connected with
the Carolina and Northwestern Railroad
states that the differences heretofore ex-
listing between his road and tn Seaboard
Air Line have been adjusted and that the