The Big Stone Gap post. [volume] (Big Stone Gap, Wise County, Va.) 1892-1928, 1903-02-19
DEAL
To Purchase South & Western
by Seaboard Air Line
Declared Off.

The deal for the purchase Of the
south * Western Railway by the
Seaboard Air Line is OF. The Nam
ufrciurcr's Record has received in-
I formation from an authoritative
source confirming this statement.
/ This breaking of Of the negotiations
does not, IL Is understood, necessarily |
mean that there will be a new coal |
route established from the rich fields |
sd Southwestern Virginia and South !
western Kentucky. but that 10 will
NOT be- controlled by the Seaboard.
b m, South q Western Railway Co.
, which d. owned by a syndicate or
eanized by the Union Trust Co, of
% Baltimore. will. 70 Is stated. continue
q building its line, now very nearly
d cou plctei from johnson City. Tenn,
h southeast 20 Spruce Pine. y g. The
purpose is 20 further extend II 20
BE- Marranton and Lincointon, y. c.,
be and also northwest from Johnson
'- Iitv into the coal fields ct the Toms
Greek region north OF Wise Court
.e House. Va. Preliminary steps have
Do been taken Co make this noTthward
de extension. aud IL Is expected accord
D. ing Co advices from that section, that
be- this part of the road will be con-
az siructed during 1908.
se Reports from johnson City, Bris
'a tol and other points ia Northwestern
of Tennessee Go the effect that the
southern Railway would tSke the
\ / South & Western are uDconhrmed
ne but IL appears 20 be the intention O
- President George l.. Carter and hi
associates 60 continue the South
n Western as an independent line, ON
~ which must sooner or later be neces
y ssry 20 the development Of the Goa
q Fields 20 which il is proposed 70 eN
u tend the road. Since IL was an
= nounced that the South Il Wester
& would build into Toms Greek field
81 some very large sales Of coal land
z have been made in that country, an
A is opening up by railroads Is II
G gsrded as decided beyond pora'
: venture.
y The cause Of the breaking Oh
Il the deal, which was conduct,
y through the Union Trust Co, hi
s. not been announced, but il Is undo
stood that final terms could not
z agreed upon after the trSnsaeti'
WAS regarded by everyone as havil
= been closed. IL is reported that
= would have netted the syndicate n
Il less than $4,000 profit. The pla
" As announced several months az
WAS for the Seaboard to acquire t
.an South & Western Railway and
extend il not only 70 Toms Cre'
IL but on through eastern Kentucky
the OHIO River, where il would
Inc connected with the Detroit Southe
NC, Also that interests working with I
.Ort Seaboard would build a line ir
Wilmington. y. c., to Southport,
10 the mouth II Cape Fear River. II
a railroad would be established fr
=" the Atlantic ocean to the Great Lal
via the inexhaus,ible coal beds
xiv Virginia aud Kentucky, SO that
and could be shipped in either direct
Snd End water transportation avn
- ing it. The Cspe Fear Railway
~" Terminal Co. was organized by AL
ana r. Morrison aud others Of Wilmi
ton, Del, 70 build the Southport C
the aection. so that the projected
,ow westward would DO composed as
I~er lows: Southport TO Wilmington.
80 C.. Cape Fear Rsil~sy 4 TerniI
Wilmington to Lincelaton. n.
null seabosrd Air Lias; Linco!nton
IA Toms Greek. Va. and Ironroa. OF
ural South a Western Railway; front
~ Okio, to Dctro;t Mich, bet
- Southern Hallway.
sa'u To carry srt is plans for buiid
north~ssd through Kentucky
}. Seaboasi. il Is understood. had
OK sngiue<rs make : survey through