The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-10-08
SALE OF THE SEABoARD STOCK
THOMAS AND RYAN SAID TO HAVE
SECURED 1000 SHARES.

| ihe hohu-The stock Alleged to
Have Been bought Held in a Pool.
No OficiaI Confirmation OF the
story Obtained Yet.
New York. Oct. lit Is announced here
that the contract for the transfer of the
control of the Seaboard Air Line to
Messrs. Thomas and Ryan includes also
the control of the Baltimore Steam Packet
Company, which runs the Bay Line from
Norfolk to Baltimore in connection with
the Seaboard Air Line.
The explanation of this announcement is
found in specials dispatches from Norfolk
to the effect that the Southern rate war
was virtually brought to an end by the
| transfer Of the controlling interest in the
Seaboard and Roanoke railroad stock to
a syndicate headed by Thomas f. Ryan
and Col George B. Harvey of New York
The transfer covered 1000 shares of the
stock heretofore held in a pool by Judge
Watts of Portsmouth, Va, Louis Nc
Lane of Baltimore and Moncure Robinson
of Philadelphia. The price was stated
at $l1O per share, and large cash deposit
was made to bind the bargain.
Gen. Gill of Baltimore, who has led the
| opposition to the present management Of
the seaboard, and Mr.. Ryan. were at
Portsmouth yesterday, and the result of
| the election was brought about by se-
ries of conferences between the two con-
tending parties. The details Of these con-
| ferenees were not made public in any au-
| thorized form.
dispatch from Portsmouth, said that
Messrs. Hoffman, GILL Ryan and other
interested parties went to Raleigh this
morning where a meeting of the directo-
ry will be held.
The deal will result in a termination Of
the rate war started by the Seaboard Air
Line The understanding is that the Sea-
board Air Line will be joined with the
Georgia Central, Port Royal and Augusta
and Port Royal and Western Carolina
railroads, which are controlled by Messrs
Thomas and Ryan. The last named two
roads are operated by a new company
called the Port Royal and Western Caro-
lima.
Raleigh, N. c., Oct. 7.-President Hoff-
man and Vice President st. John of the
| Seaboard Air Line, went to Wilmington
to-day and are there. No meeting of
| railway people was held here, and moth
! ing is known of any sale of controlling
| interest Of Seaboard and Roanoke stock
| to a syndicate. One of the large stock
holders of the Seaboard and Roanoke
company is authority for the negative in
| formation.
Wilmington, N. c., Oct. 7.-President
Hoffman, Vice President st. John and
Treasurer ]. H. Sharp of the seaboard
Air Line arrived here to-day from Ports
! n
on their private car to Ocean View, where
! they will spend the night and will return
! to Wilmington tomorrow morning to at
| tend the regular annual meeting of the
stockholders of the Carolina Central
! Company, which will be held In this city.
In answer to questions over the phone.
| they say they will reply as soon as they
| get to town tomorrow.
The statement concerning the Seaboard
| and Roanoke railroad, published in the
Baltimore Sun to-day, is discredited here.
| Norfolk, Va, Oct 7.-Following the
harmonious action OF the stockholders
meeting on Tuesday by only few hours.
| the report OF a renewed effort to securs
! control Of the Seaboard Air Line was nor
! only great surprise, but 1t was not gen.
! orally believed that any sale had taker.
! place, and in the face of the assertion of
counsel of the line that the were unaware
of any large blocks of stock, the idea was
| discredited.
This afternoon. however, one of the most
| surprising reports of all that have been
circulated, come from New York. 1t was
to the effect that the 1000 shares of stock
owned by Louis McLane, Leigh r. Watts
ana Moncure Robinson had been sold.
| Judge Leigh Watts emphatically denied
| the sale or his stock, but he declined to
discuss the situation. An official of the
Seaboard said to-day that the report tha,
the three directors mentioned have sold
their stock is absolutely false.
| AT the Seaboard's general offices the en-
| ployes are in doubt as to just where they
stand. The impression seemed to prevail
among them that the road has really been
sold. The heads of departments took the
| decidedly mixed situation coolly. however
ana one would never have suspected that
II was current rumor that their positions
were at the time practically abolished.
This afternoon a movement was placed
ON foot, the successful consummation of
which would erectuaily defeat the schemes
of the Seaboard's opponents. President
Hoffman to-day issued a circular under
date of Baltimore, oct. Z, inviting All
| stockholders to sign an agreement TO mt
their holdings with a committee consist
ing of Leigh Watts Of Portsmouth. Mon
cure Robinson Of Philadelphia and Louis
McLane Of Baltimore, who during five
years from Oct. 2, shall represent and con-
troll the pool. manage the stock and the
voting thereof
is provided that none Of the stock shall
be sold during the five years or until sixty
days after the abrogation Of the pool by
the written consent OF three-fourths Of
the signers Taken In connection with
Judge Watts denial Of the sale Of his
stock the appointment Of Mr.. McLane,
whose holdings almost constitute con-
trolling interest, to the committee would
seem TO Indicate that President Hoffman
considers It entirely feasible to defeat Mr..
Ryan by his new flank movement This
is, Of course, problematicl in the absence
OF an authoritative statement from the
absent president and vice president, and
so far as positive information regarding
the sale Of the 1900 shares reported to
have been secured by Mr.. Ryan Is con-
cerned the situation remains UNCHANGED