The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-11-19

mission to look at the DOCKS ana all Op-
portunity to look at them has been re-
fused ever since, Notwithstanding the fact
that the sgners of the contract, which con-
tanned the foregoing provision, constituted
one-half of the board of directors. What
new light these gentlemen obtained as to
the condition of the company between the
9th of October when they made their rep
resentati tions to me and agreed that l should
have the opportunity to examine, and the
18th of October, when they refused me
that opportunity. 1 do not know, but they
seem to have preferred to break their con-
tract rather than to permit me to verify
their representations
Il understand that the principal argu-
ment used to prevent stockholders other
than those who made the agreement with
me from selling was the assertion that l
was purchasing In the interests of the
Southern Railroad Company, and would
not operate the road independently. This
assertion has never had the least founda-
tion in fact, and / so stated to the gem
tlemen who signed the contract at the time
of its execution. l have never in this
transaction either directly or indirectly
represented the Southern Railroad Com
pany, or anybody interested in that com
pany, or interested in any southern rail-
road company whatever, or anybody but
myself"
II own now more of the stock of the
Seaboard Company than all the directors
and officers of the company put together,
and l expect to have something to say re-
garding it's future"
A gentleman closely identlned with MT
Ryan, said to a reporter:
"a determination to keep the property
in the control of the present management
became very apparent on the very day OF
the annual meeting, when it was quite
evident anything and everything would
be agreed to providing that the meeting
would not be marked by trouble. The re-
fusal of the majority of the Hoffman pool
to agree to a transfer, was wholly expect
ed for within the last ten days 1t De-
came known that a bitter struggle was
going on to prevent the property from
changing hands. But Mr.. Ryan is the
largest individual stockholders in the
company. He has purchased between
1900 and 5000 shares held under the Gen.
Gill option, and with the shares he had
already bought, he holds over 1900 shares.
What he will do now is a question, but
he will in all probability, go into the courts
and the result will be a long and bitter
legal battle. He holds contracts for the
delivery of certain pooled stock, and, be-
ing the largest individual holder, he will
doubtless also proceed to exercise some
of his rights as such. There are interest
ing times ahead for the Seaboard, and all
talk that a change in the ownership of
the property would mean the death OF
competition in the southern territory, Is
the veriest nonsense
"a great factor also in the failure of
the negotiations, was that outside COM
panies are after the Seaboard. Its desir-
ability as an outlet south and north is
| known to certain interests, which are
willing to pay a bonus for its control, and
| this fact has largely operated against
| the present transfer of the property.
1T is understood that r. Curzon Hoff-
| man retained control of the Seaboard Air
Line by paying $25 more a share than
Mr.. Ryan agreed to pay for the pooled
| stock
Norfolk, Va, Nov. 1S.-President Hoff-
man and Vice President st. John of the
| Seaboard Air Line left this afternoon for
| the south on special train. Mr.. st
John expressed himself as highly graft
| fed at the outcome of the deal. There
will be no change of the policy of the
| Seaboard or Bay Line.
The Baltimore, Chesapeake and Rich
mond Steamboat Company, probably ii
| anticipation of a continuance of the rate
| war and consequent increase in the vol
| ume of business, has ordered a new pas.
| epnVpls steamer