Evening star. [volume] (Washington, D.C.) 1854-1972, 1891-01-02
THE SENATORS SAID NO.
Would Not Tighten Bateman's Load Of A.
lantic and Danvflle.
SAID he HADN'T FuLFnLTD THE CONDITIONS OF
THHn SUBSCRIPTION AND GOT IN ENGLISH
CAPITAL ENouoH-rHKN He rAuxD.


THEIR SUBSCRIPTION AND GOT IN xxaIlsz
CAPITAL xHouaH-rHEN He rAn.xD.
DispstcA TO the New Yorh Sun.
WASHINGTON, Jan. 1.-The interest in the sus.
pension Of Bateman q Co. Of New York and
Washington was enhanced today when the Sun
came to town with the report that Wall street
people were discussing the relations with the
firm OF Senator Plumb Of Kansas, Senator Far
well Of Illinois and Senator Don Cameron of
pennsylvania. All three senator's are wealthy.
and their friends we're interested in ascertainine
just how they became associated with Mr. Bate.
man and his Atlantic and Danville Railroad
Company.
To start with, friends Of Mr.. Bateman say
that the relations Of the three Senators with
the firm had nothing to do with the speculation
In silver. Mr.. Bateman was abroad when the
agitation in silver began. He was busy in Lon
and Danville railroad. After these negotiations,
which were not altogether successful he sailed
from London in his schooner yacht Coronet to
the Mediterranean, and by easy stages arrived
at Jacksonville, Fla, in November last He
was outside of the lines of communication when
the speculation in silver was at its zenith.
But 1t is learned on good authority that
shortly after Mr.. Bateman became the leading
spirit in promoting the Atlantic and Danyille
railroad he succeeded in interesting the three
Senators so far that they subscribed condition
ally toward taking up block of the company's
stock and bonds 1t is asserted that the chief
condition was Mr.. Bateman's success in getting
an English syndicate to raise most of the money
and to take the larger part of the stock and
bonds. But 1t appears that Mr.. Batemans ex-
pectations in this direction were not fulfilled
on his trip to England in 1889. He returned to
America, and after further negotiations with
the three Senators and others determined not
to give up the ship, but to try again.
At these negotiations it was understood by
the three Senators and their friends that their
Atlantic and Danville would not be binding
unless Mr.. Bateman's Englishmen should come
in with larger subscriptions themselves, The
Senators were willing to 60 into the enterprise,
but not to shoulder it.
The total Indebtedness of the road, bonds,
stocks and car trust notes, on December 81
1882 was $1,000, 0OO as follows: Capital stock at
par, a, 90O, 0OO first mortgage bonds, So. 992,-
600; car trust notes outstanding, S16S, OOO
When that statement was made Thomas Ewing
distant relative Of Mr.. Bateman, was presi-
dent, Charles B. Peck Of Norfolk was vice pres
ldent, Mr.. Bateman was treasurer, and these
were the directors: Mr.. Ewing, Mr.. Bateman
Harvey Durand (Mr. Bateman's partner at one
time in his New York firm) Robert w. Stuart
Isaac L. Rice, Jonas NJ. Libbey. Charles E. Coon
(the present partner of Mr.. Batcman), j. E. D.
ryder of London and Mr.. Peck.
Mr.. Bateman made another trip to London
and made known the attitude Of the three
millionaire Senators and their friends. In
fact, it is said that Mr.. Bateman told Mr. Ryder
that he did not believe he could longer RELY on
support from the three Senators unless the
Englishmen came up with more cash. Mr..
Ryder Interested his relative, R. M s. Wortley
OF Newgass Il Co., London. At meeting in
Mr.. Bateman's New York Office on December
II last Mr.. Wortley was elected president of
the company in place OF Mr.. Ewing, and he
also took the place Of treasurer in place of
Mr. Bateman. There were other changes in
the board of directors at the time, but the chief
interest was in the elevation of Mr.. Wortley to
the two important places he now holds in the
company.
There will probably be two versions, if litiga-
ton arises, Of the effect of these transactions
upon the conditional agreement with the Sena-
tors. Mr.. Bateman's friends say that although
lmportuned by Mr.. Bateman and others to take
up their subscriptions the Senators now re-
fused, basing their refusal on the claim that
MIR. Bateman had not fulfilled his original
agreements with them in the matter of secur-
ing English capital and that Mr.. Bateman's re-
tirement from the management of the enter
prise relieved them from their conditional
subscriptions altogether.
At any rate Mr.. Bateman had left on his
hands the stock and bonds of the company
which he had hoped the Senators would take.
He had In the last two years, his friends sly,
lost most of his heavy speculative customers in
Wall street like Addison Cammack, and had lost
the Gould patronage, and he was no longer
associated with ex-Representative s. v. White
In that gentleman's pools. Also he had been
on the bear side too long. He threw up his
hands.
His friends say that the Senators should have
made good their subscriptions. Friends of the
Senators say that they were fully justified in
their course after Mr.. Bateman had failed to
make good his promises Of English aid and had
emphasized his defeat by retiring from the
management Of the company and throwing it
into the hands of Mr.. Ryder and Mr.. Wortiev.
had taken only 100000 of the S3,992, 600
bonds.