The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-02-25
Announcement Of Deal Between
President Yoakum and Morgan
& Co. Expected.
SEEKING A SEAB0ARD OUTLET.
Purchase of the Central Of Georgia
or Traffic Alliance With the
Louisville and Nashville
Also Reported.

REPUBLIC SPECIAL.
New York. Feb. 2I.-War street freely dis
cussed a mass OF railroad consolidation re-
ports to-day. in which the ST. Louis and
San Francisco. commonly known as the
Frisco system, played an important part.
Various railroads in the East and South
east were connected with the Frisco
In these reports. and it was stated in we'll
informed Quarters that a railroad deal OF
some importance was being worked out. In
brokerage offices the common report ran
that the Rock Island was the property
with which the Frisco was negotiating. In
banking Offices 1t was denied.
The rumor which received moro attention
than any other was to the effect that the
Frisco was negotiating u deal with the
Southern and the Atlanta Coast line. For
Frisco, has spent much time OF late IN con-
ferenceS with members OF the firm OF j. r
Morgan & Co.. and 1t was said to-day that
the time was ripe for an announcement OF
the conclusion Of the deal. While there WAS
no specific Information obtairabie as TO the
object of the conferences. IL seemed TO b=
the consensus of opinion that the Frisco
was seeking an outlet 10 the Atlantic saa-
board.
This would be attainable. 1t was pointed
out, by the purchase of the Central OF
Georgia. controlled by the Southern, or a
traffic alliance with the Louisville and
Nashville. Members of the firm of J. P.
Morgan & Co., as well as B. +. YoakuIn,
president of the st. Louis and San Francis
co. declined to discuss any phase Of the mat
ter to-day.
While the financial district teemed with
reports concerning deals of the Pennsyl-
vania and the Wabash with the Frisco.
practically all OF them We're discredited.
with the exception of the deal which. 1t Is
stated. is being arranged through ]. z.
Morgan & Co. The rumors varied in differ
ent quarters and an attempt was made to
by repeating the story that Pennsylvania
was buying I'D the control Of the Wabash.
Then It was said that Frisco had offered
to buy Wabash from the Goulds and so on
ad infinitum.
Even the Seaboard Air Line was brought
into the general discussion and an old re-
q definite proposition to John Shelton VIII
lfams. the president of the Seaboard. re-
garding traffic relationships. This PROPOSE
It was argued. had been held out as a club
to drive a hard bargain with the Southern
and the Atlantic Coast Line. which now
Nashville.
The action of Frisco common stock on
the Stock Exchange to-day was the cause
violent rush. scoring a gain of more than
5 points. About 5000 shares changed hands
at SO. and some sales were then reported
which 1t has ever sold. About $500 shares
changed hands at ~ to SoE. and then a
sharp reaction occurred. 1t sold down to
S6tz. which was a gain of about 2 point
over the close on Friday of last week.
The sensational advance at the opening
was forced In an otherwise declining mar
ket. Instantly the street became flooded
with reports. purporting to explain the wide
opening. Floor traders explained it as al
effort on the part of the insiders to force
some short intere SITS to cover, a feature
which some authorities held would explain
the big initial gain.
The officials of the Frisco, who are in
the city, uniformly declined TO discuss the
reports in circulation. All Mr.. Ycakum
would say was:
The Frisco is not for sale. I cannot say
more"