The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1903-01-16
[. and n. and Atlantic Coast Line
Merger Under Investigation.
BY THE INTERSTATE COMMISSION
Morgan Tells story Of the Desl--ssys
His interest in Transaction Was
Solely as q Banker,

#NH OBJ NHhN .
$40, to,. ,,,,,,i,,,. 80. 49,, mi,
r.,,s reotro, ,... ,,.,,,,sss, :. ~ $50,
~ ,tta,ne, conor,i rra,, I'm, o.,,,ra,,,,s
/ "'hfu "h aheeauons OF Violating the Jaw
ana counsel said the DO Ks and t-aTic
I s,rceu,ents wore crc, r., ,hc u,tlD, %
Morgan md others interested would appear
n wanted.
President Sucn,er O, thc Soutbr-p Rnf.
w '"'Ae'' No.
way 'q'nuheu copy OF the agreement
under which that RAILWAY through the
rcrisv{uc mi N,shvti, c,t st,b ~ tsc
m'es'' indianapolis ana i"u'SNlio' anu
the document was admitted rs evidence.
Mr. snenner .,jd tnc nnr,,,sc was 40
=. ,,,. ,,
othent tue 'N's 'uuulus OUT ." NnN"AV'
Witness said ne could not rem IN or
whether the Monon purchase gsreement
No., ~ .,.......-. p
p'N''u'S ''' ''''''"N "'
Morgan, as uWrirc The rates 81 the Soutn.
ern had not been affected BY an agreement
~, ,....t,..... .,,.,. H.. t.., o-i,b nav, 70
az" BUSINESS
pooling
-. - l-,,,,,o,,. soId the
'NS '@"~H''~ A., -!
company owned q coniGo.hds ln,eresi ~ SIX
Of more small fires operating as the All n
[ 49,. go. IN, ,otlr,.t .,,r .,,v lY,s
.V 49,, go d., .o,,
directors ~ INC A'iahNc NoASt Lihe Volu
pany we're also directors Of tue L3uisvtl2
md Macbeth witness said.
anu >1S1 .,..,,,, .,a
We "u'l'" 10 "e' 'H' A@'''s' "'V
Nashville, having heard that Aorsan 60
/ hsd control oi .t, Gld kAuWlug lhe uanA'
/ erS could NOS por1te IT,
The witness and Mr. Morgan ieached an
AGREEMENT 10 buy toe JlooyO shares ot
stock. 49,, .-,y,
we paid, said the witness, Slo"oV"
cash $40 $4,000 bonds, So,UlOVNo stock,
The SluUUutou was raised by the sale az
stock, every dollar Of which was tik'n ny
our own stockholders rracti. ally tnfee
owners neld the sock ~ the Atlantic Coast
Line comp Michael jenkins and Ms
FANNY. Walter Newcomer and mis- family
ana ny self ! 90 not think Mr. Morgan
owns amy nI the stoce
Tho Witness said that In certain cases,
he might vote FOR a rate war with toe
Southern There Is NO agreement ,oudi
toned ON securing copuol Of the iouiscule
and Esshyiu. and mo- understanding or com
tract by watch the Atlantic Coast Linz.
Louisville ana Nashville and southern are
'pr"sijsni nj ioTi Of the Atlantic G cast
I inc romruuy and counsel Tor tho Alta tie
Coast Lane Railroad company. testified, GER
celebrating MI Walters testimony, aud
said
Louisville and Nashville just as YOU would
huv q bo1 Of candy n Was wrapped ana
dGilcorad IN rs and We paid SHoNO.OpO inr
H. \ portion OF the shsres was controlled
by Mr. Hswley aud Mr. Gates, and inc "c.
ccptsncc of our offer WAS subject q lie
aprrnvgl Of Vayvlev and Gates "
picrpont Morgan began his testimony
Ia. saving he was the he'd OF his firm and
,6,t ;ba arm had ten or twelve members,
he was NOT sure how many he had Moth
ing 10 do with the purchase Of the S0RtO)
shares except 10 approve the contract when
made me deal Was explained to him by
I NasSrs Pnrlgins and steele when he re-
! f,rned from Europe last spring Mr. Nor
r.an presuucd N conference was held with
Nr estes about The Louisville and Nash
Iiiic stock sale hut he was not present.
RE was never director of tho Southern,
hut thoupbt bfs uartner Steele, WAS Sir.
Morgan could NOT remember the prelim
mares Of he Sonou purchase. though ne
/ might have known an about them at the
Inc
sentences In circular sent ont by
Norgan & Co. August ~ 1902 was myn.
t5nnsd ~ tho witness il advised ste, s.
So'5c-. - thc Southern 80 make 10 chang
q, M , ~ cement unt.l after tho sott
/ nent of certain matters pend ug, which
r,ii see,t tbi. levrioonspt OF their ines
'Sve wore irving said Mr.. Morc u. IN
e,plsnatl,n 80 prevent anyone getting
No stnrk IKE tbey got hold II