Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1902-10-07
TO ABSORB LOUISVILLE AND
NASHVILLE.

The board of directors Of the Atlantic
Coast Line Railroad Company will
meet in New York tomorrow to formu-
late a plan for absorbing the Louisville
and Nashville Railroad and to issue
call for meeting of the stockholders to
pass upon the scheme and complete the
merger. Under the law at least 30 days
notice must be given off meeting OF the
stockholders for such purpose. The
plan will probably include large in-
crease of the capital stock.
When the merger of the Louisville
and Nashville with the Atlantic Coast
Line is finally consummated the Coast
Line will have established itself as the
greatest railroad system OF the South,
and in mileage, earning and geographical
location it will be one of the most power
full and extensive in the country. The
rapid growth of the Coast Line has been
little less than = marvellous, and The
acquisition of good earning roads has
been the result of skillful aud prudent
business deals made by Mr.. Henry
Walters, its first ce-president, and the
president of the AtIaptic Coast Line
Company of Connecticut its parent
company and financial hacker.
The new Coast Line system will either
own or control about 10000 miles OF
road, with notifications all through
the territory between the Great
Lakes and the Gulf of Mexico and
the Mississippi river and the Atlantic
ocean. Less than two years ago
operated only 796 miles. lis enor-
nous growth has been the development
largely of the past year and few people
have had time yet 10 realize its immen-
sity. The new system will extend from
Chicago and Washington on the north,
to New Orleans and Florida on the south,
rand from the MississippiIiyer on the west
to the Atlantic coast on the east.
Among the most prominent cities to
which it will possess entrances are
Chicago, st. Louis, Cincinnati, Mem
phis, Nashville, New Orleans, Birming-
ham, Montgomery, Pensacola, Atlanta,
Charleston, Jacksonville, Tampa, Sa-
yannah, Augusta, Wilmington, Nor'
folk. Richmond and Washington.
Last July the Coast Line absorbed
the Savannah, Florida and Western
Railway (the old Plant SYSTEM, which
owned aud controlled 2,235 miles OF
road. This brought its mileage up to
about A, 900. in addition it has a half
interest in the lease of The Georgia Rail
road, els miles, acquired in 1899 from
the Louisville and Nashville, aud a sixth
interest in the ACKNOWLEDGEMENTS
road, 1l5 miles, purchased in September,
1901. The Louisville and Nashville aud
its affiliated lines aggregate about $500
miles. In addition it owns half inter
est in the Chicago, Indianapolis and
Louisville Railway, which gives it a
direct entrance into Chicago.
Since the absorption Of the Plant sys-
TEN the capital stock of the Atlantic
Coast Line has been increased to S42,
coo, 900. 1t has s5,O00,000 of 5 per
cent. certificates Of Indebtedness and
81, 600, 900 of 4 per cent. certificates.
The Louisville aud Nashville has out
standing stock 70 the amount of $50,
600, 900, and if The plan of j. 2. Nor
gan & Co., TO pay $3.50 share for it is
carlied out 500, 900, 600 will be required
to complete The deal. The road has a
funded debt of about STA, 900, 600.
Tue annual gross earnings of he differ
eat lines that will be included in the
Atlantic Coast Lines new system are
nearly as large as those of the New York
Central-about $50, 900, 900. Mr.. War
rem G, Elliott is president of the Coast
| Line