The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-10-13

The g'ossipS say That MI hrNan
paid $3.50 a share for the Seaboard and
Roanoke stock. He paid that to Cen
eral John Gill. General Gill had an
option on the Watts Robinson-McLane
pooled stock at $40. The difference
of $40 a share was divided between the
Mercantile Trust Company, of Balti-
more. and General Gill, the latter talk
ing $50 and giving the trust company
$40 a share. On the 1000 shares, Cen
eral Gill's commission was 100000
The trust got $4,000 out of the deal
and the pool received $4,000 or an
advance of just 100000 over the mar
ket price.
As a bull operator, President
st. John heads the list. They all said
that the rate war was only scheme
to force the Southern to buy. If that
was true, what a magnificent field
is offered to a man of his talent to
take hold of Southern stock! 1t is
quoted at $S, and there is $120,000,000
of it. 1t has been vigorously denied
that the Southern bought the Sea-
board. Now suppose the Southern
were to make war on the Seaboard
and force Mr.. Ryan to buy it at no?
There would be a deal with millions
in it.
The purchasers of the Seaboard are
looking into the books to see what
the system has been doing. If they
do not like it, they can pour it back
into the jug. But that would sacri-
flee the first payment which was made
and it was large one.
The Seaboard Airline system ought
to be a great money maker in three
or four years. The building of the
Georgia, Carolina and Northern almost
broke it and for more than a year prior
to last July a receivership was star
ing the company in the face. There
were times when the boys had to wait
a long time for the ghost to walk.
receivership was frequently predicted,
but by careful financiering, the prop
erty was kept out of the courts-ex-
cept as to iniunctions. Mr.. st. John
was secured to steer the system off the
breakers and when he got down to
business, he reduced expenses, trim
med the sails and kept off the rocks.
He has been charged with all manner
of crimes, but the officers of the
freight association testify that while
the Seaboard was a member it OBJ
served the agreement strictly. This
comes right from headquarters. Mr..
st. Johns instructions were to obey
the agreement faithfully, and every
body was put on notice that irregular
methods would be punished by dismis
sal. When the Seaboard went out and
began cutting, it put everybody on no
tice and its reductions were open.
According TO statement from a Chi
cag'o authority who knows Mr.. St.
John well, that gentleman when in
the west, was stickler for mainte-
nance of agreements and rates.
The New York Mail and Express
quotes a member of the syndicate
which has bought the Seaboard, as
saying that Mr.. st. John will be re-
tanned.
"Both Mr. Ryan and myself recog-
nize Mr. ST. Johns ability" said the
official. "He has conducted a very
stubborn fight, and why cannot he
pursue a policy of peace as success
fully as he has waged a policy of war
fare? Mr.. St. John has done wonders
for the Seaboard Airline. We regard
him as one of the best railroad men
in the country, and it would be hard
to find a man to fill his place"
This seems to have come from Mr..
Henry Crawford, WHO was Win MI
Ryan and Mr.. Harvey when the pur-
chase was made.
Mr. st. John is said to be well
pleased with the turn in affairs. The
last time he was in Atlanta he said
to friend that he had no personal
feeling in the fight that was being
waged and declared that it was purely
a matter of business.
So it may be that he will continue
as the active head of the Seaboard.
Some think that If he were to retire
it would be taken by the public as
evidence that the new owners of the
property mean to identity it closely
with other systems, or at least to
operate it practically as part of some
other comnany-A tlanta Constitution.