The comet. (Johnson City, Tenn.) 1884-1916, 1908-08-06
CLINCHFIELD DEAL DENIED.
Coal Corporation Officials
Disclaim Knowledge of
Sale of Property.


For some days past, reports have
appeared in newspapers to the effect
that the Carolina, Clinchtield & Ohio
railroad, which is the property of the
Clinchfeld Coal Corporation, whose
headquarters are located in Roanoke,
had become the property of the Chesa.
peake Il Ohio railroad, says the Roa-
noke Times. A reporter of the Times
called at the Offices of the Clinchfield
corporation and asked if any informa-
nation could be given relative to the
matter, He wvs informed that no news
of any such change in the ownership
had been learned at the Roanoke offices,
and that SO far as they knew the sitau-
ton with respect to the company re-
NAMED absolutely unchanged.
A letter written by President Stevens,
of the Chesapeake & Ohio, led to the
conclusion that the Carolina, Clinch-
| uGlu OAAO 10 u VI U W. CAUOE pA AnO'
This letter was written in connection
with bond issue by the Chesapeake h
Ohio, 100000 worth of that road
bonds being offered for sale through
the New York banking firms Of Kissell,
Kinnicutt & Co. and William Salamon
Il Co. These bonds the announcement
recites, are a direct obligation of the
Chesapeake & Ohio railway.
They are secured by first mortgage
on eighty five miles of road, serving an
important coal mining section. The
mortgaged mileage forms part of low
grade division about $50 miles in length,
extending from the Elkhorn coal dis.
trict to Cincinnati.
This mileage will further form part
of the shortest through route between
the Ohio valley and the southeastern
seaboard on completion of a proposed
new connection referred to in President
Stevens letter.
This proposed connection is to be
made through the extension of the
Chesapeake a. Ohio's Big Sandy divis
ion, from Kenova, W. Va, to Elkhorn
City, northeastern Kentucky, where il
will meet the Carolina, Clinchfield &
Ohio.
The latter road is under construction
and pretty we'll along toward compile
ton between the Clinchfeld coal reg
ion, adjacent to Bristol, Va Tenn.
and the Atlantic coast. The shops arr
at Johnson City, Tenn, where the lint
crosses the Southern railways Bristol
Knoxville division.
1t is being extended toward Charles
ton, S. c., via Bostic, N. c., where i
joins the Seabeard Air Line, and Spar
tanburg, S. @. 1t has been announced
that the Seaboard is strengthening it
Bostic- Wilmington line in order tina
Clinchfeld coal may be hauled over i
to Wilmington, and it has been saic
that a coaling station might be estab
lished at Southport, at the mouth o
the Cape Fear river, some thirty miles
below Wilmington.
The apparent purpose, however, is t.
make Charleston the important coas
terminal.
1t was through this letter and thu
situation thus revealed that some rail
road men were led to the conclusion
that the Carolina, Clinchtield & Ohio
road had been secured by the Chesa
peake & Ohio.
No one can be found, however, whC
would venture an opinion as to wht
owns the Chesapeake & Ohio railway
the stock of that line having beer
bought heavily of late, at constantly
advancing price, by interests not ye
declared. 1t is admitted however, tina
it looks as though the New York Cen
trail Vanderbilt interest has finger il
! the pie.
That the Carolina, Clinchheld &
Ohio Chesapeake & Ohio combination
will result in great good to the Caro-
linas, the Virginias and Tennessee de
veloping these southern states greatly
is not questioned.