The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1902-03-25
SALE OF THE COAST LINE
THE RUG0R THAT THE PENNSYLVANIA
HAJ SECURED CONTROL.
The Baltimore Directors Refuse to
Say Whether or Not the Report In
True The Pennsylvania Road
Would Probably Buy it to Protect
it's Soft Coal Interests.

It's Soft Coal Interests.
For several months there have been
rumors that the Pennsylvania Rail-
road har acquired q controlling inter-
est in the Atlantic Coast Line and this
week there have been persistent ru-
mors to thai effect. On Thursday,
when the repore was current in Will
mington, a Messenger representative
desired to consult some OF the Atlantic
Coast Line officials. but Mr.. Henry
Walters. who holds the controlling in
terest, Col. Warren G.. Elliott, the
president, and General Manager John
r. Kenly were in New York. n could
not be seen. They were still absent
yesterday.
The rumors here continued all week
and deep interest has been taken in
the matter by the people of Whining
ton, which is b Coas Lines head
quarters. The latest rumor in this
connection yesterday was that the
Atlantic Coast Line and Mr.. Henry
NJ. Flagler were making an effort. and
could probably get control or the
Plant System in Georgia and Florida.
The Richmond Dispatch yesterday
contained this special dlSpatch:
WHY THE PENNSYLVANIA SYS-
TEN MIGHT WISH IT.
1t is we'll known that the Fennsylva-
MIA road has been buying A. G.. L. stock
and it is said that tits fact accounts
tor the rapid advance of these securi-
,;.- fhnu axrin rlCbn from n tn "A
points last week. People who are up in
railroad matters, however, say that The
rumor that the Atlantic Coast L.l.r y
get the Plant system Is the solution or
the advance in stocks g
Baltimore, Md, March 21.-(Special.)
Neither a denial nor a confirmation OF
the rumors of a sale Of the Atlantic
Coast Line could be obtained from the
roads officials today.
President Harry Walters Is IN New
York, and the directors in this city de-
clined to discuss the reports. pIt
An authority ON Atlantic Coast Line
matters denies that the property Will
be sold to the Pennsylvania railroad.
A plan looking to the joint control OF
the Plant System by the Southern
railway and the Atlantic Coast Line,
is believed to be the deal pending.
The probability that the division OF
lIlG ftdIll sd 1hoy oS o~N
the close traffic relations of the south
ern n Coast Line with the Plant
System, suggest his plan.
In New York one explanation Of the
probable desire of the Pennsylvania
for the Atlantic Coast Line property
was to further safeguard it's control
of the soft coal trade.
Previous to the acquisition of the
Pocahontas Coal and Coke Company
~, Tho NTorfolL on1 yUactarp tho lat
ter, it is said, planned to build a con-
nection with the Atlantic Coast Line.
The p~lauSibilIty of this explanation
is affected by the fact that If the
Pennsylvania railroad vas promoted
by such a desire. it would have to &C
quire not only the Coast Line. but the
Seaboard Air Line railway, the South
ern railway, n perhaps the Louis
vile and Nashville, all of which Sys-|
TENS could be connected with the coal
fields of Kentucky and Southwest
Virginia by lines over feasible routes.
Inquiry in this city yesterday failed
to elicit any information, either in
confirmation or denial of the reported
sale of h Coast Line.
Local railway officials profess entirel
ignorance concerning the report.
TO PROTECT ITS SOFT COAL M
TERESTS.
The New York Herald of Friday
says:
There are 2.176 miles controlled by
the Atlantic Coast Line Company. 1T
owns or controls a connected series of
railroads extending from Richmond
Va, and Norfolk, Va, to Wilmington,
N. c.. and Charleston, S. c.. and Au-I
guSta, Ga.
1t is generally understood that
Henry Walters, president Of the COM
pany, and his associates held the con-
trolling interest in the company. Local
railroad authorities have pointed out
that with the control of this property
the Pennsylvania would be in a posi-
ton to safeguard its large interests in
the soft GAL region which were rel
Gently j~eopardized by the formationI
Of the PocahOntaS Coal and CokeI
Company. the control Of which was
subsequently acquired for the Norfolk
and Western.
Previous to it's sale to the Pennsyl-
vania syndicate, the capitalists Who'll
controlled the Pocahontas Coal andl
Coke Company planned to build a line
of their own or make a deal with the
Atlantic Coast Ill to carry it's coall
to the tidewater.
The Atlantic Coast Line Company is
a Connecticut corporation, having a /
capital stock of $40, 00o, 900. The total
caDital securities of the subsidiary
companies issued amoun to $50, 050, 500,
or about ST. 900 a mile. The bonds on
these COMPANIES outstanding amount
to $50. 706. 100.