CAPT OF A B737-200 OVERSHOT THE RWY HOLD LINE WHILE ATTEMPTING TO TURN OUT OF DEP LINE-UP ONTO A TXWY FOR HOLDING TO CONTACT COMPANY MAINT. RPTR ADVISED THE TWR OF THE OVERSHOOT AND TWR INSTRUCTED THEM TO DETERMINE WITH THE FLC OF B747 IN POS FOR TKOF IF IT WOULD INTERFERE WITH THEIR TKOF. BOTH FLCS DECIDED THAT IT WOULD NOT INTERFERE.

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WE WERE #3 FOR DEP AT RWY 26R IN ATL. ACFT DEVELOPED MECHANICAL PROB THAT REQUIRED COORD WITH FLT CTL. I WAS INSTRUCTED BY THE CAPT TO CONTACT FLT CTL; AND BEFORE I DID SO; TELL TWR THAT WE WANTED TO USE THE SECOND TO LAST PERPENDICULAR TXWY TO GIVE WAY TO ACFT BEHIND US. TWR CONCURRED AND I THEN PROCEEDED TO CONTACT FLT CTL. I HAD OBSERVED THAT THE RWY HOLD LINE (BAR) WAS IN THE SHAPE OF A CHEVRON; WITH THE POINTED END TOWARD US. THIS WOULD GIVE US VERY LITTLE ROOM TO MANEUVER. I MADE THE MISTAKE OF ASSUMING THE CAPT SAW THE SAME THING. BEFORE I COULD SAY SOMETHING; HE HAD INADVERTENTLY TAXIED SEVERAL FT BEYOND IT. I BROUGHT THIS TO HIS ATTN IMMEDIATELY. WE HAD AT LEAST 20-30 FT OF CLRNC FROM THE ACTUAL RWY. AT THAT POINT A B747 WAS TAXIING INTO POS. CAPT CALLED TWR AND TOLD THEM WHAT HAD HAPPENED; AND ASKED IF THERE WAS SUFFICIENT CLRNC. THE TWR DEFERRED THAT TO US AND THE B747. WE BOTH CONCURRED THAT WE HAD AT LEAST 100 FT SEPARATION. WE INFORMED THE TWR AND THE B747 WAS CLRED FOR TKOF. WE WERE DILIGENTLY TRYING TO BE 'NICE GUYS' AND ALMOST MADE THIS INTO A BAD SIT. I SHOULD HAVE MADE SURE CAPT SAW WHAT I SAW: CHEVRON HOLD BAR.