On May 4, 1883, Henry B. Plant and his Plant System (headed by the Savannah, Florida and Western Railway) bought 3/5 of the stock of the South Florida after an unsuccessful attempt to buy the Florida Southern Railway. Plant had made an agreement with the Florida Southern not to build the SF&W south of Gainesville or Palatka, the northern ends of the Florida Southern, but the existing South Florida was immune from this. Plant then made agreements with all the railroads building towards Tampa except for the Florida Transit and Peninsular Railroad. Specifically, the Florida Southern would not build any lines south of Pemberton's Ferry and Brooksville or north of Bartow, and the South Florida would build its Pemberton Ferry Branch between the two and assign trackage rights to the Florida Southern. The agreement with the Jacksonville, Tampa and Key West Railway specified that that company would only build north of Sanford; in both cases the South Florida would give up their rights to the territories given to the other companies. The JT&KW had already done some grading at Bartow and Tampa, and sold them to the South Florida.