The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-10-27
PRIEST. SPENCER TALKS
Discusses Relations Of the Southern and
|. g N. Toward Georgia Central.
PRESIDENT HOFFMAN WILL RESIGN
Ais Withdrawal Said 10 lie Quest ION
of Hut IL short Tin,e-The Ryan
Thomas Deal Has About Hecn
contaminated = He Deprecntes
Railway Rate SInshing,

contaminated = He Deprecntes
Railway Rate SIashing.
Washington, Oct. e6.--The article pub
llshcd this evening upon the alleged con-
test between the Southern railway and
me Louisville and Nashville Company
LOT inc control of the Scaboard Air Line
emhodieS an Interview with President
Snehcer, of the Southern. upon the re-
iationS OF his company and of the Louis
vile and Nashville to TO the Central. of
.ieorgia, under the joint issue. AS an
introduction To the interview II Is stated
.nat the Louisville ana Nashville Is
trying to secure the exclusive control of
me Central. President Spencer de-
scfipeS the various changes that led up
10 the present status OF the Central, and
then TO illustrate how the Southern and
tentrai might exchange business with
each othcr ana he on the most barmo-
NOUS business terms and yet be entire.
~ independent as 10 ownership, went on
to say:
"At Knoxville. Tenn. where tho
S,putherh owns every road except the
Marietta and North Georgia the South
efn hauls out sleeping car tn deliver
10 The Louisville and Nashville for Lou
isviile. although the Southern has a
sleeping car line of its own between the
TWO cities by way OF Hartman.
IL rs the best policy for railroads to
maintain stable rates toward competi-
tors and give the others show.
All "recedents show that whenever
one railroad tries TO monopolI2e the
business some other line will cut rates
and cause decentralization. The East
tennessee lines used to be open to the
Seaboard Air Line. and still recognize
II as the wlsest course to pursue"
RICHMOND TERMINAL.
Rnfnlrino al i'm IN
or the Richmond and Danyille, or Rich
mond Terminal Company, Mr.. Spcnser
said:
Ihis reorganization committee of the
Richmond Terminal Company includes
two members OF the Central Trust Com
pany. which is trustee for certain bond-
holders of the Central. The officers of
mat trust company would not Sit quiet :
~ and see me dictate n policy for the
central which would be detrimental 10
me interests of the bondholders whom
they represent. Those gentlemen rem
resent three hundred or four hundred
millions of securities. and they are man
aging their securities for the benefit of
all. They hold the Central stock and
vote it,"
The article adds that "the latest in
formation in reference to the Scaboard
Is that eX-Secretary of the Navy Whit
neE Is largely interested in the nrop-
erty, and IL is AepOrted that Mr. Whit
ney'S connection with the syndicate
forms large part of the basis for the
assertion which has been made that
Ryan and Thomas have practically un-
limited capital, as well as abundant
credit"
HOFFFMAN TO RESIGN.
1T is further reported ;nat the resig-
nation of President Il. CurZon Hoffman,.
Is u question Of but n short time. ana
mat Mr. Thomas +. ryan. who. in ad-
dltion to being one of The ownerS of the
, Seaboard, is secretary of Mir. whitney :.
street railway system in New York. vii
succeed him. II is said that Vice PTnsi-
dent and General Manager 81. John has
been invited to remain with the new
company, and it is understood that he
VIII manage the property in full har-
mony with its neighbors.
DEAL WILL GO THROUGH.
at can be stated OH the best author
that the deal made between Two and
three weeks ago when Ryan and Thom-
as. with the help Of Gen. GILL of Bulu-
more. formed the pool which secured the
control of about 5000 shares of the
stock, and Gen. Gill has about .7DU
more, which insures it's transfer to the
new owners. To part with the active
control of the property, with such
bright prospects of continued rate wars
ana accompanying excitement, has been
a severe blow, but some of the biggest
holders. aside from pecuniary advant-
ages. have been in n measure philan-
thropic. for they say that desire to end
the disastrous rate war has impelled
, them to agree to the terms offered by
| the Ryan syndicate.
SEABoARD IS IN FINE SHAPE.
The Seaboard, it is claimed, is at
present In excellent shape. and there is
little doubt that its new owners will
take advantage of this condition 10 fur
ther Improve the property.
Recent developments have shown
that while Mr.. ST. John has in his
course towards the Southern in the pa ST
made many enemies, has also demon
strated 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"
southern RaiIwnys.
New Yo:k, Oct. 2G.-The Southern
railway earned gross for September
81 .692, ,233, an increase of s4l, ,S66. and ne.
nX