New-York tribune., 1907-06-27
BUY c. OF G. RAILWAY.
Steamship Lines May Soon BE Con-
trOUed 6y Charles ". Morse.

It announced yesterday that the Richmo3d
Terminal reorganization committee had sold 10
Oakleigh Thorne and Marsden J. Perry all the
capital stock OF the Central Of Georgia Railway
Company held by the committee. which was re-
celved by it in 1894 upon the contamination OF the
Richmond Terminal reorganization and after the
reorganization OF the Central OF Georgia Railroad
and Banking Company.
The Southern Railway, which is the successor TO
the old Richmond Terminal Railway COMPANY.
took the stock Of the Central OF Georgia
from the committee though II has been the actual
owner ana Will receive tho proceeds from its sale
TO the Thorne-Perry interests. The latter
or less identified with enterprises in the territory
served by the Central OF Georgia and the Norfolk
& Southern. and the chances that they took
over the Southerns holdings in order to get a
stronger hold upon the transportation business In
that part OF the country.
TWO reasons may have suggested the sale Of the
stock-one, based OF federal dislike OF railroads
owning stocks OF parallel lines and the other q
desire on the part OF the Southern Railway to in
crease Its cash balance. Tho Southern IS spending
q large amount OF money its property. and II
needs all the funds It get, especially as earn
ings in tho winter months fell below dividend re-
qulreInents For some days II has been rumOred
that other railroad interests and Charles W Morse
were negotiating for control OF the Central OF
Georgia, and IL hinted yesterday that Mr.
Morse might get possession OF tho steamshlD prou-
critics Of the road.
Mr.. Thorne and Mr.. Perry declare that thew VIII
operate and develop the Central II Georgia g an
Independent system FOR the benefit OF its sockholi
ers and that they will hold for years AZ least
'v -SA cent pl INC StOCk Ihe company controls
the Ocean Steamship Company. which IS one Of the
largest coastwise lines, and the New England and
Savannah Company. which operates between sa-
vannah and Boston. ana the acquisition Of these
lines by Mr.. Morse would add material strength 20
his Consolidated Steamship Company In well IN
formed quarters II IS thought that Mr. Morse a, no
remote period will turn UP as tho owner OF the
Central OF Georgia's steamship fleets.
AT q meeting Of tho Central OF GeOrgia Railway
company held IN Savannah yesterday Mr. Thorue
Mr.. Perry ana William c. sheehan were elected
directors TO tske the place Of Charles Steele Of ]
T. Morgan & Co, G. @. Haven and the late Samuel
Spencer. who was president Of the Southern Rail
way Mr.. Spencer said IN his testimony before the
Georgia Legislature in 1899 that tho Southern
hallway waJ entitled 70 the financial benefit OF
any sale Of tho stock OF tho Central OF Georgia
although the Southern did not assume 10 control II
The Central OF Georgia owns lao miles Of track
ana leases moro than 400. and II counts in It's
steamship lines AT 800 miles. The main line
runs from Savannah to Macon. Atlanta. Birruiug-
ham and Chattanooga with branches TO Augusta
and Other points. The company was formed IN
1850. succeeding tho Central Railroad and Banking
Company OF Georgia
Mr Perry is prominent capitalist Of Provi-
dence. r /. and has been Interested for a long
time In the Norfolk & Southern Mr. Thorne IS
president OF the Trust Company Of America.