The Birmingham age-herald., 1906-07-01
Tennessee Company Purchases the Valuable BIet RaiIrOad
 for About $1,4OO,OOO
TRANSFER WILL TAKE
 PLACE THIS MORNING
Meetinu of Directors of Birmingham Southern Held Yesterday-Mr. Topping Head of Tennessee
 Republic Company.

rha Birmingham Southern will be 4,,oa o,,ar to the Tennessee Coal, Iron and Railroad company today.
 The entire 100000 of capital stock or tho ra,lroad-soOO shares of preferred and sooO common-has been purchased by the Tennessee company from the Louisville and Nashville and the Southern railroads, which owned 1t jointly. The price paid was between $1, ,3oo. GOO and .s1,4Oo'ooo The stool changed hands at par. The amount over the capital stock was paid for the improvements.
 Al meeting of the directors Of the ,,,r,,;rgbam Southern yesterday in the of- fee of President Jones G. Moore 'he ,os,gnat,on of MT. Moore was accepted and John A. Topping was elected pres ident. MT. Topping is president oi 'he panuhuc Iron and Steel company ana chairman of the board of the Tennessee Coal Iron and Railroad company
 MT Moore received advices yesterday from New York stating that the matter of transferring the stock to the Tennessee company had been consumated, and that ,,,as tho first definite information regard ,. tDa transaction received in Birming- ham.
 Took Inventory.
 For several days experts nave peeh .o,,,na an inventory of the Birmingham Southern in order to report speciheaily to tho directors at the meeting yesterday. One of the experts represented the rail- road and another the Tennessee company ,rho,r work was completed and 1t was on their report that the price of the road was based.
 The sum paid was the former purchase price plus the actual improvements. me Southern railway and the Louisville and Nashville paid the Tennessee company sl'- 1oo ooo for the Birmingham Southern sev- eral years ago.
 A the meeting Ol tiit ooN'U N~ yesterday those present were MT. Moore A. G. Smith, vice president, and George Evans. fourth vice president of the Louisville and Nashville railroad. The session was short.
 Ninety Miles Long.
 The Birmingham Southern is fracuon over ninety miles long and of that nearly thirty-one miles is main line and the remainder is in sidings reaching big in- dustries It is a belt property and feeds A majority of the plants of the Tennessee company and the Rpublic Iron and Steel comnanv in the district. Beside that it has spurs into several other properties.
 The railroad company has thirty en- zines. some of which are new and have only recently been delivered by the man ufacturers. and 600 freight cars of various kinds, large portion of which are Tor coal and ore. Practically all the equip ment Is In frst-class condition.
 Since the Birmln SHdiH fooutAeih lhh' been in the possession of the Southern and Louisville and Nashville no effort has been made to make-it a money-produclng property.
 Method of Management.
 The object of the management was sim ply to operate 1t In order to make It pay it's own expenses. Its rates and charges were so arranged that they just paid the cost of operation and the interest on the investment.
 Ii is not yet known who will be in active charge of the railroad and operate it for the company.
 Mir. Moore has accepted the position of general superintendent of coal mines Of the Sloss-Sheffield Steel and Iron com pany and assumes that position tomorrow.