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Show BUYING OF ROAD IS CONFIRMED Southern Acquires Virginia Q Southwestern StocK for $4,000,000; First Payment Pay-ment in June. NEW YORK, Sept. 12 Tha purchase of Virginia & Southwestern railway by the Southern Railway company, - of which rumors have been current recently, re-cently, was confirmed yesterday, says the American. From one of the stockholders stock-holders in the Virginia k Southwestern1 it was learned that the Southern railway rail-way has acquired all the Virginia & Southwestern stock, paying therefor $300 a share or a total of $4,000,000. A committee consisting of Oliver H. Payne, Grant B. Schley and Henry K. McHarg, in behalf of the Virginia j Iron, Coal and Coke company, which owns a majority of the Virginia & Southwestern stock, as well as in behalf be-half of the individual stockholders. 1 some time ago obtained the deposit of all the stock of the Bank of Manhattan Manhat-tan company. It was through this committee that the sale was made to the- Southern Railway company. The first payment on account of the - purchase price of the Virginia k Southwestern stock, amounting to $1,000,000, was made on June 15 last, the balance amounting .to $3,000,000, is to be paid in installments. |