The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1902-11-19
ANSWERS OF The RAILROADS.
Hot Shot From the Inter State
Commerce Commission.

Washington, November l1.-Several
more of the railroads which were
made defendants in the complaint made
by the Kentucky railroad commission,
charging merger OF interests, which
threatened to place the entire South
ern territory under the domination OF
a single-fr1n, fled their answers In
the Interstate commerce commission
today. The answers in the main, like
those of the Illinois Central and the
Texas and Pacific fled yesterday,
deny the allegations. The Louisville
and Nashville Railroad, however,
goes further and its answer styles the
complaint mere fishing BILL" and
disputes the Jurisdiction of the Inter
State commerce commission over such
matters. The Louisville and Nash
ville's anWser says the commission has
no right nor title to institute or pro-
secute the complaint; mas no juris-
diction to require the fling Of copies of
contracts or arrangements with other
common carriers, except such as
relate to the traffic affected by the In
ter-State Commerce Act; which the
railroad says, does not apply to the
contracts, arrangements, ETC., referred
to In the complaint, nor jurisdiction to
INQUIRE into personal transactions Of
individual stockholders, nor to ascer-
tain whether any particular individual
or firm has acquired majority or any
other proportion of the capital stock OF
a railroad.
The answer denies that j. P. Morgan
& Co. have acquired control Of ma
iority of the Louisville and Nashville
stock and says the commission has no
jurisdiction to inquire into the motives
or objects of any one selling OF pur-
chasing shares, nor whether the stock
of the. Southern is controlled by a;
voting trust with Morgan & Co. at its
head.
The Atlantic Coast Line Railroad
admits contracting with the Morgan
Company to purchase by December 81
next, and that the Morgan Company
has contracted to deliver to the
Atlantic Coast Line by that date 306,
coo shares of the capital stock of the
Louisville and Nashville for $50, CO.,,
coo, and that the Louisville and Nash
vile has assented thereto.
The Southern Railway Company,
the Southern Railway Company in
Kentucky and the Southern Railway
Company of Indiana, in q direct
answer, deny that the two last named
lines are under the management Of
the Southern. They admit that about
June 2l, 1900, Morgan & Co. and the
Southern Railway made an agree
ment with practically all Of the hold
ers of bonds secured on properties
then belonging 20 the Louisville,
Evansville and the st. Louis Con-
solidatedt Railway Company, whereby
it was proposed to reorganize that road
to vest its control in the Southern.
This plan was executed by a fore
closure. It is also admitted that in
pursuance of an agreement the South
ern Jointly with the Louisville and
Nashville has acquired 90, 600 shares of
the capital stock of the Chicago,
Indianapolis and Louisville Railway
Company.
The Cincinnati, New Orleans and
Texas, Pacific not only denies the
jurisdiction of the commission, but
submits that there is no law of the
United States nor of the States men
toned in the complaint " which forbids
the same person or firm to hold stock
in two or more railways