The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-10-08
SECURITY HOLDERS TIRED.
sEABOARD'S ACTION MAY BRING
AN END TO THE RATE WAR.

The General Opinion in Railroad
Circles That the Harmonious
Meeting at Norfolk VIII Have a
Tendency to Settle the Trouble Be-
tween the SeabOard and Southern.
Speculation as to st. Johns Re-
tfrement-Mr. GiIPs Hand.
The general opinion in railroad circles is
that the quiet harmonious annual meeting
and election of officers of the Seaboard Air
Line railroad will have a strong tendency
at least to bring an end to the war of rates
between that system and the Southern and
it's allied lines, which has so demoralized
the entire railroad situation throughout
the southern states.
President H. NJ. Conner of the Central of
Georgia railroad was asked yesterday
what he thought of the meeting, and what
effect, if any, it would be likely to have.
He said he knew nothing whatever about
the meeting, and could say nothing as to
its effect.
There is no doubt" he said, however,
that the security holders of the lines in
this section are tired of such condition
of affairs, and they are not going to sub
init to it very long The Generalization Of
rates. means the same sort of an effect
upon the securities, and they are not at
all satisfied with what has been going
on"
The fact that Mr.. John Gill of Bal
ttmore, who is known to have been strong
ly opposed to the existing condition of
affairs, nominated Mr. r. Curzon Hoff
man for reelection to the office of presi-
ident of the Seaboard, seems to be taken
as an indication of the fact that a cessa-
ton of the rate cutting is desired, and
that in some manner it will be brought
about There has never been any objec-
ton, however, to Mr.. Hoffman on the
part of the officials of other railroads. All
the objection appears to have been direct
ed against the vice president of the sys-
tenn, Mr.. St. John, who seems to have
supervised the rate war, and upon whom
the responsibility for the demoralized
condition of affairs has been placed.
Railroad men have been specializing as
TO whether Mr.. st. John would be deposed
after the annual election, but there has
been no indication as yet that any change
would be made. Mr.. st. John, 1t is I'M
derstood, claims he has a contrast with
the Seaboard Air Line for a period of
years, under which he cannot be remoV-
ed. The general opinion among railroad
men. however, is that this claim may be
taken with a grain of salt. 1t is not Gus
tomary, they say, for railroads to make
contracts with any of their officials or
employees, especially for any length of
time, and those whose offices are elective
are generally elected for one year, and
subject to removal at the end of that
time.
The efforts of Mr. Gill to buy UP
majority Of the capital stock of the Sea
board at par, or rather his offer to that
effect at a time when the stock was not
quoted at half it's par value, followed
by his own nomina ton of Mr.. Hoffman
and the old board of directors seems es-
pecially significant, when the wishes of
all railroad security holders to have an
end put to the rate war, are known. The
fact that the situation of affairs is like
ly to tend to bring a terminus to the
war of rates, is interesting, not only to
the railroads and railroad security hold
ers, but alike to business people through
out the south, who will know that they
will all be placed on the same basis and
that none will be given an advantage
over others.