Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1896-10-27
SEAB0ARD AIRLINE.
CONTEST BETWEEN SOUTHERN
AND l.. a. y. THEREFOR.
INTERVIEW WITH Mr.. SPENCER.
Lease of the Central Road of Geor-
gia-W. &. whitney ~ New Owner
of Seabonrd StOck-HoGman soon
10 Rcsign-st. John to stick.

of Seaboard StOck-HoGmnn soon
10 Rcsign-st. John TO stick.
WASHINGTON. october 26-An article
published this evening upon the alleged
contest between the Southern railway and
/ the Louisville and Nashville for the con-
/ troll Of the Seaboard AIRLINE embodies
an interview with President Spencer, OF
the Southern. upon the relations Of his
company and the Louisville and Nash
Vile to the Central OF Georgia under the
| joint lease AS an introduction to the in
terview. it is stated that the Louisville
and Nashville is trying to secure the ex-
elusive control of the Central.
President Spencer describes the various
changes that led up to the present status
of the Central, and then TO illustrate how
| the Southern and the Central might eX
change business with each other and be
on the most harmonious business terms,
and yet be entirely Independent as to own
ershp, went on to say: "At Knoxville,
Tenn. where the Southern owns every
ldAi0dN thAtHl Aif MAI 4iAAi anu 4NVitil
Georgia the Southern hauls out a sleep
ing-car to deliver to the Louisville and
Nashville for Louisville, although the
Southern has a sleeping-car line Of its
own between the two cities by way OF
Hartman.
at is the best policy for railroads to
maintain stable rates toward competi-
tors and give the others a show All pre-
cedents show that whenever one railroad
tries TO monopolize the business, some
other line will cut rates and cause de-
morallzation. The East Tennessee lines
used to be open to the Seaboard Air
Line"
OF the reorganization Of the Richmond
and Danville or Richmond Terminal, Mr..
Spencer said: This reorganization COM
mittee of the Richmond Terminal Com
pany includes two members of the Cen
tral Trust Company. which is trustee for
certain bondhOlders of the Central Rail-
road Company The officers of that trust
company would not sit quietly and see
me dictate a policy for the Central which
would be detrimental to the interests Of
the bondholders whom they represent
Those gentlemen represent three or four
hundred millions of securities, and they
are managing their securities for the
benefit of all. They hold the Central
stock and vote it "
WHITNEY LARGELY INTERESTED.
The article adds that "the latest infor-
nation in reference 10 the SeabOard is
that Secretary-of Whitney is
largely interested I'm the property. and it
is reported that AIr. Whitney's connec-
tion with the syndicate forms a large
part of the basis for the assertion which
has been made that Messrs. Ryan and
Thomas have practically unlimited capi-
tai as well as abundant credit"
1t is further reported that the resigna-
tion Of President II. Curzon Hoffman is
a question Of but a short time. and that
Mr.. Thomas f. Ryan. who. in addition
10 being one Of the owners OF the Sea-
board is secretary of Mr. Whitney's
street railway system in New York. viii
succeed him. II is said that Nice-Presi-
dent and General Manager st. John has
been invited 10 remain with the new
company. and IL is understood that be
will manage the property in full har-
mony with its neighbors.
1T can be stated on the best authority
that there Is no longer any doubt that
the deal made between two and three
weeks ago. when Messrs. Ryan and
Thomas with the help Of General Gill,
of Baltimore. formed the pool which se-
cured control Of the Seaboard stock. will
be carried through on the lines originally
intended.
"Mr. Ryan is now in practical control
Of about 5000 shares of the stock and
General Gill has about 200 more. which
insures its transfer 10 the new owners.
To part with the active control OF the
property with such bright prospects Of
continued rate-wars and the accompany
ing excitement has been a severe blow.
but some of the biggest holders, aside
from pecuniary advantages, have been
I'm a measure philanthropic. for they say
that a desire to end the disastrous rate
war has impelled them to agree TO the
terms offered by the Ryan syndicate.
"The Seaboard. it is claimed, is at
present in excellent shape. and there il
little doubt that its new owners will
take advantage of this condition to
further improve the property. Recent de-
ve,Opments have shown that while Mr..
st. John has by his course toward the
Southern I'm the past made many enemies.
ne has also demonstrated that he has
many friends and the great majority of
these are to be found In the ranks of
those who furnish the Seaboard with its
best and most profitable business"
TRANSFER TO-DAY.
BALTIMORE, MD, October 26.-It was
rumored in local financial circles to-day
that the controlling interest of the COM
mon stock Of the Seaboard and Roanoke
Railroad Company the parent Of the
Seaboard Airline Company would be
transferred TO the syndicate tomorrow,
and that the purchase money in fun
would be paid over and the new owners
assume control. 1t was also said that a
meeting Of directors Of the Seaboard and
Roanoke would be held in few days,
at which Mr.. Hoffman would resign the