Evening star., 1896-11-13
Probability That the Option Holders
May Be Disappointed.
NEW DEVELOPMENTS IN FHE Case
Important Changes in Railroad Con-
ditions Down South.
n I E r E STIN SSIP

There seems to be reason for believing
that the ground upon which Mr. Ryan and
his associates in New York are standing as
their base while trying to get hold of the
Seapoard Air Line is fast slipping away
from under them. and that IL is more than
probable that they will yet he disappointed
in their ambition in this respect.
This. at least, is the reasonable conclu-
sion according 20 a message received by
The Star today from Baltimore, where
President Hoffman of the Seaboard, who
has just returned from New York, de-
clined to be interviewed regarding a re-
port that financial difficulties have arisen
in regard 20 the deal
Mr.. Hoffman admitted, however, that a
hitch had occurred, refusing, however, to
ssy OF what 1t consisted. 1t is stated on
the street and among bankers that the
Seaboard people have refused to allow the
expert employed by Mr.. Ryan to examine
the books of the company, as Ii had pre-
viously been understood should be done, so
that the great earning abilities of the Sea-
board could be proven to the satisfaction
of all concerned
In banking circles of eastern cities, prin-
cipally Washington, New York and lsaltI-
more, there has been much talk for a cou-
pie OF days regarding the supposed inter-
rupti0h of pending negotist lions for the
transfer of the Seaboard, and il is thought
in some quarters that the deal may not be
carried through by the time the option of
Mr.. Ryan and his associates expires, which
is Monday next
Reasons for the Reports
Three reasons are given as the basis of
these reports The first is that the money
necessary to consummate the purchase has
not been obtained by the New Workers; the
second that the consent of the necessary
three fnftrfhS nf b1 cfa, IL
sale has not been secured, without which
the new owners would be powerless TO die
tate policy of their own, and the thir,. is
mat the influence of the Louisville and
Nashville railroad is making itself felt in
most unexpected quarters.
Within the past few weeks the condition
OF the railway problem I'm the south has
undergone material change, and il is be
ieNea that recent developments in that Sec
uoi nave served TO make the Seaboard a
much more attractive property to railroad
investors than IL was even a month ago.
improvements made by the Illinois Cen
tral Railway Company. which have just
been completed, and opened to the public
al New Orleans, Will, il is thought i'm some
quarters. Speedily result i'm giving tina l
great corporation the practical monopoIy
OF the carving of the importing and ex-
porting trade OF that port, and will compel
ihe erection there by the Southern and 9TH
or railway companies centering there Of
immense elevators and wharves to success
fully compete with its rivals in tn, busi-
ness
The acquisition of the Seabcard would
give the Louisville and Nashville whose
carrying trade is limited so far as Atlantic
ports are concerned to Charleston and
Savannah, the advantage of acquiring al
cree extensive facilities at Norfolk and
PORTSMOUTH, Va, which could not other
wise be erected in a shorter period than
several years, and perhaps put ii in posi-
uon for competing with the Illinois Central
road for a large part of the grain trade OF
tie great northwest.
1t is generally understood that if til.
deal is not made. by Monday next negotia
ions. SO far as Mr.. Ryan and those allied
with him are concerned. may be regarded
as off. and the situation will then assume
an entirely different phase.
The Hoffman McLane Stock.
The purchase of the stock held by tn.
Hoffman-McLane pool carries with ii, so i;
is stated by those fully informed on tho
subject, the full control of the Seaboar,l
Air Line system. The stock pooled will
the committee of which Mr. McLane is
chairman amounts to about $500 shares
In response TO a circular recently issued by
Mr.. McLane it is understood that the con.
sent Of about three-fourths of the pooleu
STOCK has already been secured for tn,
sale to the New York syndicate at a price
said to lie s125 a share
The syndicate has deposited a heavy for.
felt 10 take stock at s125 share provided
the necessary amount to control can b,
secured.
Persons who are close to Mr.. RYAN SAY
that the idea that that gentleman cannot
get all the money necessary to complete
the deal as absurd, and they assert thai
the funds for the purpose are already In
bank.