The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-10-10
SALE STILL. IN DOUBT
Conflicting Statements Make Confirmation
OF The Seahoard Deal Difficult.
PRESIDENT HOFFMAA'S STRONG DENIAL
Knows Nothing of tho Sale No stock
Wntta Reitcratcs IIia Denial That
he Has Sold ais Stock-DiHcrcnt
Views North and South.

Has the Seaboard Air Line really pass
cd into the hands OF MIR. j. Pierpont
Morgan's agents, Messrs. Thomas and
Ryan, or it still an independent corpo-
ration prepared to maintain competition
with parallel lines?
This question is one OF the greatest
moment to this section and, indeed, to
the entire South Toward the solu-
tton voluminous articles have been pen
ned during the past few days, and ru-
mors. contradictory and in many eases
misleading reports have emana.ed from
sources seni-oliicial or otherwise Whan
the present status OF the deal actually
ia. Is not known.
The Virginiap's daily reports Of the
Interesting situation have been full and
in accordance with the faos8at hand,
and the bearing OF every detail OF any
nsW development has always been care
fully traced and its probabIe effcc;
shown. Our readers have been
fully advised regarding the transaction
and its future developments will be as
carefully watched.
To Firginian reponer yesterday
Judge Legh II. Waits, general counsel
OF the Selboard, expressed himself rs
Srat:iied at the fairness OF this paper s
reports and he further said: "I reite: a te
my assertion that ! positively have not
are now where &hey always have been.
Neither Messrs. McLine. Hoffman, nor
Robinson have sold their stock at the
figure named"
President Hoffman and Vice President
st. John Were both two busy Yesterday
10 tax. In an interview Thursday in
Wilmington. just before leaving TO!
Portsmouth. F.esidem, Hoffman gave
utterance TO the following emphatic de-
NAL OF the reports from New York:
There has been no sale of the Sea
board and Roanoke stock at SilO per
share. and If there Is a sale II will no;
be at SllO. If there has been sale on
any terms. however. I am no: xare of
1t. or course. If the stockholders desire
TO sell. II is their power and prcroga tive
10 sell. but know Of no sale and there
has been none"
likely, i: is said by prominent investors.
10 be successful in Ghe object IL has In
View.
As 10 the exact ownership of the con-
trolling interest. il Is very probab ble that
neither Mr. Ryan nor MIR Hoffman,
representing the TWO sides. know posi-
lively where ht lies. In the South IL is
confidently asserted that the sale has
not actually taken place, and that che
Ryan scheme went off half-cocked while
In Baltimore ana New York II Is slaled
with equal confidence thai: the road is
now practically In the hands of its old
enemy. the Southern. which will at leas;
dictate Its future policy.
feste days Baltimore Sun contained
the following:
according to che opinion of those
most closely associated with the New
fork syndicate which has secured
control of the stock of rhc Scabo1rd
and Roanoke railroad ana of the BAY
Line, the retirement of Mr.. r. CurZon
Hoffman from the Presidency of the
Hne Is question only of 4 few weeks
at most.
Tho sale is contingent upon an ox-
animation OF the books OF the TWO com
pahles showing corresponding figures
10 'he r"presenta:i ions made by the
owners of the stock. As soon $ this ex
animation is completed ana the formal
transfer Of the stock IS made. the Presi- :
cent VIII be asked to retire. If he has no;
volunteered 10 do so before that time.
Vice President and General Manager
81. John win likely be re.ained 10 use
his talents in a peaceful competition in
=. cad of rate war
ne new president may be from New
YORK. and the name OF Mr. Thomas l.,
Ryan. who heads the purchasing svndi-
cate, Is the one most prominently mem
toned for the position.
Baltimore stockholders who signed
the agreement to sell al par 30 the Mer-
camille Trust Company are well satisfied
with their bargain. They say they are
glad 20 receive rar for stock which wa
quoted AZ about s+5. and seemed unlik e.
~ 10 Re; higher than that figure. eSc.nt
from change of control like the present
transaction.
General John GIL. president OF the
Mercantile Trust Company. said vester-
day that he desires the public to under-
stand Hhat the price he obtains for the
stock of the Seaboar1 and Roanoke rail.
road. for which he has taken on,inr.
and is stu taking oICions, at 500 a
share Is the price which will be paid
the holders in accordance with .La
terms OF the agreement This included
his own sock, which IS the largest in
d!vtdual holding signed TO that agree
mcnt"