Crossville chronicle. [volume] (Crossville, Tenn.) 1894-current, 1917-06-27
l. c. TO ACQUIRE THE
Tenn, CENTRAL RY.
Sale to Be Made by Court Order, Nash
vile, Next Monday July 2.--L c.
to Build to Chattanooga at
Early Date, Is RuTo1

An-undenied rumor is current tha.
the Illinois Central will purchase the
Tennessee Central when 1t is offered
for sale at Nashville next Monday.
1t is generally understood that the
Southern Railway has, in round num-
bers, $4, 400, 900 of the first mortgage
bonds of the I. G. and the Illinois Cen
tral $1,000, 600. 1t is understood that
the |. G. will take over the Southern
bonds and buy the road. Engineers OF
the |. G. have recently made trip of
inspection over the I. C. and the re-
port of its physical condition is so ia
vorable that President Markham, Of
the !. G., is entirely satisfied and the
T.. C. will pass into the hands of the
|. c.
The |. c. has owned large property
in Nashville tor several years whlch
was purchased for terminal facilities.
1t IS now considered that the purchase
of the T. &. will enhance the value OF
the Nashville holdings of the |. Z.
fully half a million. 1t has been so
stated and wired to President Markham
bv a prominent Nashville man on hear
ing that the T. G. was to be taken over
by the |. Z.
1t IS also rumored that the /. {. will
build a line into Chattanooga, which
will be the shortest between Nashville
and Chattanooga. Large improve
ments are expected when the |. Z. gets
control and this section promises to be
greatly benefited thereby.
For some time the feeling has pre-
vailed that the Southern Railway would
take over the I. e. as it Is the largest
holder of first mortgage bonds. but 1T
now seems the Southern prefers to dis
pose of its holdings rather than to as
sumo the additional burden necessary
Ito swing the deal. The heavy lndebt-
edness of the Southern and the press
ing need of more new equipment for
the lines now operated by the Southern
IS gwen as one reason why the South
ern perfers to sell rather than to buy.
The feeling has prevailed with most
nersons of this section that the best in
terests of this plateau section would be
served by the Southern owning the L.
C.. but we'll Informed persons now say
that it IS vastly more important that
the |. c. own the I. e.. than that it
should be acquired by the Southern.
The |. G. IS one of the richest roads in
the country and has vast mileage
that extends in the direction most help
full to this immediate sectlon, both In
the way of sending our products to
market and getting" the things needed
here. All in all the purchase of the
IT. &. by the |. G. seems to be the best
thing that could come to this section
by the sale of the L. e.
1t is not definitely known at what
point the |. C. will build from to reach
Chattanooag and as there has long been
talk of a road running from Crossville
ldown Sequatchee valley to Chatta-.
nooga the purchase of the L. G. by go
strong road as the |. e. wouli lend
weight to the probabilities of that line
belng constructed at an earlier date
than would otherwise be done.
Whether or not the |. G. really Will
ACQUIRE the T. e. will not be fully
known until after the L. e. is offered
for sale next Monday at Nashville by
Commlss,oner Doak, who will offer 1T
fat public outcry under direction OF an
order from Judge Sanford of the Fed
eral court. After that the purchase
will have to be confirmed by the board
of directors of the |. c., but that will
simply be matter of form in the
event representative OF the l. &. bids
off the road.