New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-04-15

A., t-onortant conference on Louisville ana
Nashville was held at the office of J. p Morgan
g. Co late yesterday afternoon, lasting until
o,clock AT that conference. 1t is learned on
,,,,b authority the control of the Louisville ana
Nashville was offered by John w Gates ana
his associates to j. p. Morgan & Co, presum-
obly for transfer TO the Southern Railway Com
nanv. Whether not the negotiations were
co,on1eted and the offer was accepted could not
he definitely learned.
Those present at the conference were George
~ Perkins and William P. Hamilton. of j. p.
Morgan & Co: John w Gates, j. F. Harris
bead of the Stock Exchange house of Harris,
Gates & Co. in which Mr.. Gates is a speclai
mariner and Edwin Hawley, president OF the
Iowa Central and Minneapolis and st Louis
roads who recently. with his associates, ac-
n1,Ired control of the Colorado and Southern
Railway Company. Talbot ]. Taylor was pres
ent for short time. but on leaving the meet
ing he absolutely refused TO say anything about
his mission. Mr.. Perkins and Mr. Hamilton
rere similarly non-con1municative. and Messrs.
Gates Harris ard Hawley, when efforts were
made to see them uptown in the evening, de-
crned to meet reporters
The purchase of the controlling interest In the
louisville and Nashville, according to The Trib-
r,ers information, has been effected by syn
dica-e OF eight nine members. Including
Nessrs Gates and Hawley and John A Drake
7 7 Mitchell and Isaac L. Elwood. OF Chicago
Il &c said that the syndicate owns or controls
fu1lv three hundred thousand shares of the
s,oct out of a total capitalization, incluoins
+be fifty thousand shares recently sold, put not
GO, listed on the Stock Exchange, of six hundred
.so,,.ons shares A considerable part of the
.vndicate's holdings however. is UNDERSTOOD 10
,anresent their unlisted stock, which Will not
ar,.u for
.o-,e and shares sold by foreign holders on
contracts for delivery within the next week or
fortnight.
POSITION OF THE DIRECTORS.
-rbe-e Is good reason for believing that the
directors of the Louisville and NashNhie' oi
.bose of them who have been engaged IN the
,,arket operations which have cost them Inc
control Of the property, sold their investment
holdings some time ago, and were also snort VI
,h. .+ock As for the fifty thousand shares CT
treasury stock put upon the market "i.nh .e
last few DAYS, OF which they are technically
.,,-. because these shares are not yet sooo
delivery, it is understood that an arransenieii'
-. haar affected under which delivery OF this
,,ol, viii, not he enforced before the expiration
:, tho thirty DAYS which. under the resuld-
,,ons of the Stock Exchange. must eiapse pe
tveen the application for listing STOCK anu Inc
.,.uar listing Mr. Gates said yesterday a1ter-
nocn
rhere will he TO corner far as and my
Marty are concerned j stand prepared 10 Ioa. ,.
s.act 70 those who urgently want It. can
speak for others
The course of Louisville yesterday afternoon
.uvpested the possibility of corner. Opening
awide- with sales Of five thousand shares al
lopb 10 l2i5s the stock at p. m, after various
ups and downs stood at 1854 A half hour
later il was 130. and inside of five minutes shot
up to l33. jumping from 1917 10 l3214 In single