The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1902-04-18

New York, April 16.-FUrther progress
was reported today n the settlement
of the Louisville and Nashville matter.
George w. Perkins, Of J. Z. Morgan &
Co, and John w. Gates, who claims
control Of Louisville and Nashville,
were in conference during the a at
the Morgan banking house.
1t is assumed tina the lines of the
agreement between the Gates n the
Belmont parties were discussed, but on
this and all matters dealing with the
situation Messrs. Perkins and Gates
were silent.
Samuel Spencer, who said yesterday
that the Southern railway, OF which he
IS the executive head, mad no interest
in Louisville and Nashville, also called
to see Mr.. Perkins. He had nothing to
add to his statement of yesterday.
A semi-offciaI statement, credited to
a member of J. p. Morgan & Co, to
The effect that Louisville ana Nashville
is now a Morgan road and that it's pol
icy will be dictated by MIR. Morgan,
was discredited by ore o: the latter's
partners this morning.
Morgan e. Co, will act as trustee Ok.
the Louisville and Nashville road
said his partner. That is all we nave
been asked to do and we do not propose
TO go outside u province. We are to
be the stewards of the property ans
will manage it for the best interests of
the stockholders"
The regular monthly meeting of tn
louisville and Nashville directors is
scheduled for tomorrow in this city. L
Is altogether unlikely, however, that tia
meeting will be held, as the directors
are scattered all over the country and
IL will be almost impossible to gather
a quorum.
August Belmont had nothing to add
today to his brief statement of last
night. 1t may be stated, however, that
the Belmont interest do not admit hav-
ing lost control of the Louisville and
Nashville.
MI. Belmont declines absolutely to
discuss this point and has nothing to
say regarding the statement that he,
too, will turn over SOME Louisville and
Nashville stock to J. +. Morgan & Co.
A statement OF Harris, Gates &c Co.,
that they bought control of Louisville
and Nashville" implies that they actu-
ally hold physical possession of over
200, 900 shares of the stock. including
the stock now out on time" contracts
and deliverable some two to four weeks
off.
Efforts to get a definite statement
from the Gates interest regarding this
phase of the situation were futile. This
naturally gives rise TO the suggestion
that some changes may soon take place
in the Louisville and Nashville board
that Mr.. Gates Will be permitted to
name several directors From the high
est possible source, however, comes the
statement that no change is likely to
be mad in the Louisville n Nashville
directorate until Mr.. Morgan's return
from abroad. Mr.. Morgan is not ex-
pected back until the early summer
One of the latest versions OF the
Louisville and NashyIil situation is as
follows:
1.-THE Gates holdings have been divid-
ed into three parts, j. P Morgan & Co,
taking one-third and MeSSrS. Gates and
Hawley the remainder. Morgan & Co,
take this interest on the understanding
that Louisville and Nashville is to be
operated in harmony with Morgan in
terests in the same section OF the III
try.
Yesterdays move in Southern railway
Is attributed to Mr.. Gates desire to Sc
cure an interest in that property. He
Is reported to have been informed that
the best way to get 1t was to go into
the open market. which he and his fol-
lowers are reported to have done to the
extent OF about 200. 600 shares.
The substance of these reports was
outlined to Samuel Spencer, president
Of the Southern. He appeared to be in
terested. but made no comment.
Nr. Spencer and Mr. Stetson, at
torney for j. p. Morgan, spent consid-
cradle time at Morgan & Co.'S this af-
ternoon comforting with Mt. Perkins.
All persons interested refused to dis
cuss the terms of the agreement be-
tween Mr.. Gates and Mr.. Belmont. nor
could il be learned when the terms are
likely to be made pubic.
Mr.. Belmont made this statement,
later, respecting the reported meeting
of the Louisville and Nashville road to-
morrow:
This meeting is only one or the regu-
lar monthly meetings Of the board. No
quorum Is likely. owing to the absence
OF some OF the directors In any event
there will be no change in the person
mel OF the board OF officers.
TRAINING SHIP BUFFALO