The Big Sandy news. [volume] (Louisa, Ky.) 1885-1929, 1903-02-27
SEABOARD AIRLINE.
Deal TO Purchase South & West.
ern Reported 10 be Off.

The deal for the purchase OF the
South & Western Railway by the
Seaboard Airline Is Off. The Man
ufacturer's Record has received in
formation from an authoritative
source confirming this statement.
This breaking off OF the necotia-
tl0ns does not, 1t Is understood,
necessarily mean that there will
not be new coal route established
from the rich fields OF Southwest
ern Virginia and Southwestern
Kentucky, but that II will not be
controlled by the Seaboard. The
South d Western Railway Co.,
which Is owned by syndicate or
ganized by the Union Trust Co., OF
Baltimore, Will, 1t Is stated, con-
tlnue building its line, now nearly
completed from Johnson City,
Tenn, southeast TO Spruce Pine, n
q. The purpose is to further ex-
tend II to Morganton and Lincoln
ton, n. g., and also northwest from
Johnson City into the coal fields
OF the Toms Creek region north OF
Wise Court House, Va. Prelimi-
nary steps have been taken to
make this northward extension,
and 1t is expected according to adj
vices from that section, that thfs
part Of the road will be constructed
during 1908.
Reports from johnson City, Bris-
tol and other points in Northwest
ern Tennessee to the effect that tho
Southern Railway would take the
South 4 Western are unconfirmed,
hut 1t appears to be the intention
Of President George l.. Carter and
his associates to continue the
South & Western as an indepen-
dent line, one which must sooner
or later be necessary to the devel-
apment ofthe coal fields to which
II is proposed to extend the road.
Since 1t was announced that the
South d Western would build into
Toms Creek fields some very large
sales OF coal lands have been made
lin that country, and its opening up
| by railroad is regarded as decided
beyond peradventure.
The cause OF the breaking OIL Of
the deal, which was conducted
through the Union Trust Co., has
not been announced, but it is un-
derstood that final terms could not
be agreed upon after the transac-
tion was regarded by everyone as
having been closed. 1t is reported
that it would have netted the syn
dicate not less than S7j0,000 profit.
The plan, as announced several
months ago, was for the Seaboai d to
acquire the South & Western Rail-
way and to extend it not only to
Toms Creek, but on through east
ern Kentucky to the Ohio River
where 1t would be connected with
the Detroit Southern. Also that
interests working with the Sea-
board would build a line from Will
mington, n. G., to Southport, al
the mouth OF Cape Fear River.
Thus railroad would be estab
lished from the Atlantic ocean tC
the Great Lakes via the ineXhausti
bio coal beds OF Virginia and Ken
tueky, so that fuel could be shippeC
In either direction and find watel
transportation awaiting 1t. Tn,
Cape Fear Railway q Terminal Go
] was organized by Alvin II. Morrl
) son and others Of Wilmington, Del
to build the Southport connection
/ so that the projected line westwar'
: would be composed as follows
/ Southport TO Wilmington, n. c
r Cape Fear Railway & Terminal
: Wilmington to Lincolnton, n. G
Q Seaboard Air Line; Lincolnton {
t Toms Creek, Va, and Ironton, q
a South & Western Railway; lroi
d ton, O to Detroit, Mich, Detro
n Southern Railway.
To carry out its plans for bulldin
N northward through Kentucky th
.s Seaboard, 1t is understood, had II
engineers make II survey throug
the Breaks of the Big Sandy Riv,
so as to go from Toms Creek inl
Kentucky, aud 1t does not yet al
u pear that this extension will nj
IS be constructed, although the fai
0, ure to carry through the deal {,
the South & Western makes Il
10 prospect for construction remot
10 Had the deal been carrie
= through the Seaboard would hay
- been assured OF its own fuel su
Q. ply from the mines OF the Crane
l. Nest Coal Co., in the Toms Cree
region, for the transaction inclu,
y ed its coal lands, amounting
=, 100000 Manufacturers Re
10 ord.
rs DeWitts Witch Hazel Saiv