The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-13
MUCH SPECULATIVE RUMoB
HOW THE TANGLED SITUATION Is
VIEWED IN THE SOUTH.
Southern Railway AmbitiOus-Presi
dent Fish, of the Illinois Central,
ON Injunctions.

NEW YORK, April Pas a result OF
several conferences held to-day there is
very general conviction that control of the
Louisville & Nashville road has passed or
will pass to the Southern Railway. Repre-
sentatives of the Louisville a. Nashville
and Southern roads and member of the
Gates faction were in consultation early
in the day, and later John w. Gates was
closeted for almost an hour with George F.
Perkins at the office of ]. p. Morgan & Co.
Neither Mr.. Perkins Mr.. Gates would
say what passed between them, but 1t was
admitted that the Louisville e Nashville
situation was discussed in its several
phases. The most authoritative report
dealing with the recent course Of Louisville
& Nashville is substantially as follows:
Some time ago Southern Railway inter-
estS, alarmed at the increasing strength
and prosperity of Louisville q Nashville,
made an offer for majority interest. The
offer was declined, so report has 1t, by for
eign holders of Louisville & Nashville, who
held a small balance of power.
Recently when the Louisville & Nash
Vile increased its capital stock by S5,000OOO
Mr.. Gates and his associates saw an OPP
pOrtunity to squeeze the insiders by buy
ing Louisville in the market and creating
scarcity in the stock. To what extent the
Gates faction succeeded is still matter of
conjecture, but il is not doubted that they
were in a position to swing large block Of
stock either way. Conditions seemed ripe
for an attempt TO gain control of Louis
vile 81 Nashville, and Southern Railway
interests, as represented by Morgan d Co,
authorized the Moore Bros. to acquire as
much of the stock as possible in the open
market, with the understanding that this
stock would be taken over by the Southern
road. Banking interests in which the
MOOreS are especially prominent have been
heavy buyers of Louisville * Nashville,
and one bank in particular is said to have
called a number of loans this week so as
to acquire the money for its purchases OF
Louisville stock.
wall street believes that some sort of a
community of interest deal between the
Rock Island and the Southern Railway will
follow the change I'm Louisville & Nash
vile ownership"
The Evening Post, discussing the situa-
ton in Louisville & Nashville, says: "An
indications seem to point to the fact that
the control of the Louisville & Nashville
Railway is now so held that it can be
turned over to the Rock Island Railway.
The matter had not been determined at the
close of business to-day and facts are as
ment in Louisville & Nashville shares be-
gan some days ago. Opinion in Wall street
is In a nebulous condition as to who now
controls the company, but there is cOnvic-
ton that control has passed from the Bel
mont interests and that John w. Gates has
been factor in its passing. There APP
pears 10 be good foundation for the opinion
that Mr.. Gates may now be in position. by
throwing the stock way or the other,
to decide what interest shall hereafter con-
troll the Louisville q Nashville"