The times. [volume] (Richmond, Va.) 1890-1903, 1902-08-14
SEAB0bRD Runs HIGH
AND IS VERY ACTIVE
Such Trading in This Stock
as Never Before Known.
DIVIDEND ON PREFERRED
Directors Said to Be Thinking of
Declaring One.
MERGER OF SOUTHERN ROADS
This Movement Said to Await Oa'Y
the Return of Morgar-LouisvIle
and Nashville Leased to a
Holding Company-There
Are Many Millions
Involved.
MERGER OF SOUTHERN ROADS
1S,,so,,, n,spatch to The Times)

(SDECjli
NEW YORK. August 13.-Ano'hei siiat
advance in Seaboard Air Line shares IN
Wall Street to-day, with very hee'S
transactions. was Accompanies WIN d :. e
,.or, that interests planning the merger
~ southern roads had already drawn up
,lans for the merger. and are only walt
ing for Morgan to approve them pelole
making them public.
,rl,is runor was followed by rush TO
,,1y nu the Seaboard stock in slshI ana
s,,ch trading followed as has never peeh
known in that stock. Much OF tle ,
i.7r came from those identified with the
Ssahoard management and from those
Who are repolted to be perfecting the ner-
cor The buving of the preferred stock
was particularly heavy.
DIVIDEND is EXPECTED.
The reason for this was ascrlbed 10
rcport which gained circulation that the
directors OF the road are thinking OF
ccclartns dividend on that stock. which
has never been done before The earn
,nEs OF the company have increased so
rapidly that authoritative persons SAID
to-day that they would not be surprised
81 n dividend on the preferred were de-
cIared In the near future.
While particulars Of the plan whereby
the Louisville and Nashville Railroad is
to be leased to holding company to be
composed Of the Scaboard Air Line. the
Atlantic Coast Line and the southern
Railroad nr. withheld for the present.
It IS said to-day that the purpose of the
nlall is to incorporate the Louisville Sc
cu-ities Company instead Of the Southern
Securities Company. Precisely bow the
arrangement is to be carried out cannot
le disclosed now. but there Is authority
ro- the statcuent that for the purposes
Of the eeven per cent guarantee. as an
nouncod Yesterday. the Scahoard Air Line,
l. I t1,S sv1E
Rntlroad VII each contribute s9.eoopH.
MAY BE CHANGED
p4rsons in q position to know of the
merger sold to-day that there is every
likelihood that the name of the combine
J,4II he changed from the Louisville Sc
curittes COMPANY to the Southern Secur-
flies Company as the former name is
merely the suggestion Of those nerferting
+l,e combine here while the name of the
Sof-thern Securities Company is favored
by Mr.. Morgan.
The Commercial Advertiser to-nieht
made this serni-ofHcial announcement:
"partfcnlars OF the rl4n whereby the
7 7o,,4s,-tl'n and Nashville Rnilroad is to
be leased TO a holding connnanv are with
held for tho present hut it is known that
it+ purpose ,s TO incorrorare the Louisville
Securitv Company. which Is to iease
tho road on the basis OF seven per
cont. dividend grlara nteed Precisely how
1rc arrangement Is TO be carried out can
rnt row Re disclosed. hut there Is author
IT. for the statement that for the rnr-
,>oees Of this guaranty the Se2hCard Air
,re Southern and Atlantic Coast Line
Will contrfhute IN one w-v or another
five nltlsiors of dollars each
Pic,e watHr Mark in Rntinaora
Especial ptrpa+cN to Tho Timrs)
BALTIMORE. ND, August 13.-I7or
several davH Seahoerd securities have
been adva r~inst ~, TODAY The h,ph
water rart OF SeahOard securities was
reached Common sold up TO "a S-S and
preferred 55 while the bonds were 81 IL
and firm. T7',vfng or4ers came mainly
from New York and many rumors we've
advanced as TO the causes for the aetiv-
lily.
There was great activity In Seahoard