The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-11-15
DAILY, $40 A YEAR
CENTS A COPY.
WEEKLY 2-TIMEs-A-WEEKS 81 A YEAR
SALE OF THE SEABOARD STOCK
A HITCH IN THE DELIVERY OF THE
HOFFMAN BLOCK.

Mr.. Ryan Calls to Pay for II, But the
Committee Fails to DeIIver-Ru-
mOrs of Fight for Control Fol-
low the RefusaI--Mr. Ryan Pays
for The Block Controlled by Gen.
John Gill and Now Owns Between
1000 ana 5000 shares.
Washington. Nov. H.-The following
statement, relative to the Seaboard Air
Line purchase was given out this after
noon by the Mercantile Trust and De-
posit Company Of Baltimore: Mr.. Thomas
f. Ryan to-day accepted and paid for the
stock Of the Seaboard and Roanoke Rail-
road Company, covered by Gen. Gilrs OPP
lions through the Mercantile Trust and
Deposit Company-between 1000 and 5000
shares.
"Air. Ryan also called at the office Of ths
company to close the Hoffman pooled
stock option, which expires to-day, but
the committee was not ready to deliver
the stock or to tell what amount had come
in under that option"
Thomas f. Ryan of New York, who 10
at the Arlington tonight, confirmed the
statement issued this afternoon by the
Mercantile Trust and Deposit Company OF
Baltimore that the pooled stock Of the
Seaboard and Roanoke railroad, contfol-
ing the Seaboard Air Line, held by the
Hoffman interest, had not been delivered
to him under the forty days contract ana
that no Information could be obtaineo
concerning the amount of stock held uh-
der the option by the pool. Mr. Ryan also
confirmed the further statement that ne
had accepted and paid for the Seaboard
bxrf
is between 1000 and 5000 shares.
He declined to state, however, whethen
the failure of the Hoffman pool TO turn
over the control Of the Seaboard meant
a collapse of the negotiations, but IN re-
pIy to a question whether 1t meant
legal warefare for the possession of tha
road. he merely remarked: Il am not
looking for a fight"
Mr. Ryan stated that he wanted 1t dis
tinctly understood that he was not nego-
tiatlng for the control OF the Seapoaru
for the Southern or any other ratlroads
and that he was acting solely for himself
He also declined to make any statemenE
concerning the latest developments In tha
situation.
The failure Of the Hoffman pool to trans
fer the stock pooled under the HOFFMAN
option has caused considerable surprise
i'm financial circles, and is construed to
mean that there Is a very bitter fight
ahead for the control of the Seaboard Air
Line which may involve reopening or
tho rate troubles among the southern
lines. Under the contract entered into at
Portsmouth, Va, in October between Mr..
Ryan and the pool holding 1900 shares of
Seaboard stock It is stated that 1t was
agreed that the pool should secure moro
stock, and forty days were allowed for
that purpose. This expires tomorrow.
but when the Ryan party appeared in
President Hoffmans Office in Baltimore
to-day to pay for the 5000 shares gather
ed by the pool, none Of the pool commit
tee, with the exception of Judge Watts
of Portsmouth, were on hand. No expla-
nation could be ascertaned of the uneX-
pected turn of affairs, and Mr.. Ryan with
drew, accompanied by his lawyer, Elihu
Root Of New York.
The effect, it Is said. of the latest phase
In the situation Is that the control OF
the property will remain in the hands
of the Hoffman interests for the present.
In certain circles the belief prevails
that outside interests which seek to con-
troll the property are responsible for tho
seeming collapse in the negotiations. It
is said that the Louisville and Nashville
Is after the property, and 1t Is expected
that the struggle for the control Of the
property win be attended by interesting
developments.
Mr.. Ryan and Chairman Blackstone of
the reorganization committee of the Cape
Fear and Yadkin Valley had a long con-
ference In Baltimore to-day. and 1t ia
thought that in the future that the prop
erty and the Seaboard will be closely all
lied.
1t is pointed out that the developments
to-day show the value OF the Seaboard
as an eastern and southern outlet, and
the interesting part that it is to play
in the Southern railway situation.
AS It stands, Mr.. Ryan, with the pur-
chase Of the Gill holdings, to-day owns
between 900 and < 0C0 shares of SaahoarH
and Roanoke stock, which makes him tha
largest individual shareholder in the com-
pany