Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-11-21

pc-ary Injunction restraining the Southern
and its allies and the Seaboard from fur
Their cutting of freight and passenger tar
ifs, and commanding all parties involved
in the controversy to restore Their rates
to the schedule which was in force en-
July II last.
Judge Hughes appointed Wednesday for
hearing argument to why he tenn
porary Injunction should not be made per-
manent, but at the time fixed neither side
was represented. and it is understood by
prominent lawyers here that the petition
for injunction was through this action, IN
formally dismissed.
A New Rate War Likely.
Whatever may be the final outcome CT
the present controversy between the Hoff-
man-McLane pool and Mr.. Thomas r.
Ryan of New York and the syndicate of
capitalists of which he is the head, for
the future ownership of the Seaboard and
Roanoke Railroad Company, it is quite
apparent to the minds of all railroad men
here that the present management of the
Seaboard and Roanoke intends to contest
every point that can be raised with the
Southern, and, in fact, with every other
company with which 1t chooses TO start a
quarrel
1t is said the Seaboard people feel en-
couraged to quarrel with their competitors,
even If a quarrel results in n cutting of
rates, as, according to the statements
given out from the general offices of the
company in Baltimore few days ago, the
three months during which the fight be-
tween the Seaboard and the Southern was
actively carried on the former made more
money than during any corresponding
period for long time past.
The advice given by Mr.. r. II. Edmonds
leading citizen of Baltimore, and pub
lished in a weekly paper OF that city within
the past day or two, copies of which have
been scattered very widely is also intend
ed to convey moral support at leas, to the
ma ont of Coo hrn I'D tn,
tude they have taken. Mr.. Edmonds,
among other things, said:
Mr.. EdmOnds' Statement.
1T may very appropriately be said that
the record of the present administration
(of the Seaboard) during the last three
years of probably unparalleled business de-
preston is one of which any company
might be proud.
In that time this company has shown a
most marvellous increase in the magni, u,ie
OF the roads traffic, wonderful develop
ment of passenger service by the estab-
IShment OF through Pullman trains l.e-
tween Portsmouth and other important
points (whereas three years ago there was
only one local train and no through mas
senger Service), the establishment of Al
lanta terminals, the enlargement of Ports-
mouth facilities, with new ware horses
ONCE buildings; enlarged water front etc
the raising OF the standard of the rolling
STOCK IRON d very inferior condition TO lis
present nigh grade, with the best loco
motives anu good cars. All these things i'm
the past have been done at the expense of
net earnings. on the contrary, during tins
three-year period, the gross earnings have
largely increased, but, better by tar than
mat Is the fact that, Notwithstanding this
very great advance IN the physical conui-
uon OF the road, the net earnings have
made very large gain aiso.
Mr.. Rynn's Statement.
Some idea OF how Mr.. Ryan regards tn.
situation may be gathered from a stale
ment made by that gentleman's authority
through his counsel, Mr.. EIihu Root. which
has been confirmed by a dispatch received
here, and Is as follows:
The story of this transaction from
beginning to end is perfectly plain. and
made public.
have desired for some time to purchase
the stock OF the Seaboard and Ro.1oke
road. With that object i'm view [ obtained
through General Gill, president of the Mer-
camille Trust and Deposit COMPANY on.
tons upon about so shares of the stock
L then went to Portsmouth on the night
preceding the annual stockholders meetinr
Tor the purpose Of negotiating with ether
stockholders who might desire 70 sell their
holdings.
"On the forenoon of the annual meeting
l met In the Office of the counsel Of the
company Messrs. Louis McLane, Moncure
Robinson and L. r. Watts They in:oI med
me that they could sell and deliver to me
at least a majority of the stock il a price
could be agreed upon.
Il did not even ask their authorize lion.
but assumed that they were honorable,
trustworthy and acting In good faith.
1.-The sale questions in the negotiations
related to, first. the price to be paid for
the stock which they agreed to sell, and.
second, to the time which should be al
1nvny fnR mil ,fv,er
certain Representations they then made re-
garding the company and property. The
only conditions imposed by Messrs Nc
Lane, Robinson and Watts were that /
should purchase the stock Of the Bay Line
Steamboat Company at a price agreed
upon and should give to every stakeholder
in the Seaboard and Roanoke Railroad
Company the privilege of selling to me at
the same price as that fixed for the stock
which they, presumably, sold to me.
II assented to these conditions. We
agreed upon the price to be paid for the
stock. upon the time to be allowed me for
examination Of the books. ard We executed
on that day a contract Of purchase and
sale, and paid $6O.OOO on account of such
purchase.
Bought Some Stock.
Relying upon their representations 1
awaited myself of the options secured by
General Gill and purchased and paid for
the stock which had been put in his hands.
ION October l. they refused to allow me
to examine the books. but even this did not
deter me from endeavoring to carry out
my part of the contract to the letter, and
I went to Baltimore on Saturday last pre-
pared to take from Messrs. McLane, Robin
son and Watts the stock which had pur-
chased.
They were not ready to deliver it. and
now they say they are unable to perform