Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1902-09-29
SEAbOARDWILL
PARALLEL
LIZ \.
JOHN SHELTON WILLIAMS Is
SUES STATEMENT RELATIVE
TO COMBINATION OF l. & N.
Blythe COAST LINE.

NEW YORK, Sept. N.-Startling rumors
in railway circles tonight, announcing the
probable merger of the Louisville and
Nashville and the Atlantic Coast Line
systems, have practically been confirmed
from authoritative sources.
Shares of Louisville and Nashville stock
now held by Gates and Hawley and 9TH
ers have been negotiated for.
The merging of the two great systems
is believed there tonight to either be an
actual fact now or very soon to be con-
summated.
Simultaneous with the announcement of
the merger comes an emphatic statement
from John Shelton Williams, president
of the Seaboard Airline system, in which
he declares he will fight every move of
the new alliance. should the merger prove
antagonistic to his system.
From the banking house of j. Pierpont
Morgan surprise is expressed at the
statement given out by Mr.. Williams. The
Morgan house declares that the Seaboard
has not been regarded a factor at all in
the negotiations.
The lines in the consolidation as pro-
posed have a total mileage Of nearly 10000
miles.
WILLIAMS SHOWS, FIGHT
IF s. A. L. is INVOLVED
NEW YORK, Sept. 27.-President John
Shelton Williams, of the Seaboard Air
Line railway, in response to inquiries to-
day as to the effect which the proposed
purchase of the Louisville and Nashville
railroad by the Atlantic Coast line would
have on the Southern railway situation
and especially on the S. A. l., said:
whether the purchase of controlling
interest in the L. & N. by the Atlantic
Coast line will prove a profitable and val
liable acquisition or whether it will prove
unfortunate for both, will depend entirely
upon the policy which shall be pursued
by the new owners. If the lines of the
L. e n. system are held open for the
interchange of business on fair and
reciprocal basis with all connections.
without unfriendly determinations, the
union of these two important systems may
be advantageous to both, but if an at
tempt Is made to interfere with the free
interchange of business between the Ia.
& N and it's present connections, such
a policy will be followed in due course
by the construction of new railroads into
the Louisville and Nashville territory and
the building of such additional mileage can
undoubtedly be built for less than one-half
the cost per mile Of l.. & N, figuring on
the basis which it is stated has been paid
for its stock.
'I assume, however, that the friendly
relations which have heretofore existed
between the Louisville and Nashville rail-
ROAD ana us SGNGIdA COA1AlCNNAOAA0 WAA MT
be interrupted. 1t is certainly the desire
of the S. A. L. to maintain cordial rela-
tions with both allies and competitors.
IT do not know what arrangements were
made on behalf of the Southern railway
with the Atlantic Sea Coast line in com
nection with the sale of the L. & n. to
the coast line interests, nor do 1 know
whether there is any truth in the report
which has reached me to the effect that
a secrect offensive and defensive alliance
has been enterd into between the South
ern railway and the Atlantic Sea-coast
line covering a period of years.
"It is certain, however, that nothing
has been done and nothing will be done
which will affect adversely the earnings
and business of the S. A. l.. system. The
lines of this system now ramify seven
southern states, extending from Balti-
more, in the north, to the southern linn
its of Florida, in the south, and to Mont
gomery and Birmingham, 1a-abama, in
the southwest Inc business of the sys-
tenn at the present time is limited only
by it's capacity to move the freight which
is offered to it and these conditions will
not be interfere. with by any action of
connecting links"