The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-10-22
THEs..An"AHD DEAL.
negotiations FOR tho Transfer Said to
HIVE Been CONNECTED

The following particulars of the Son
board deal Will be read with Interest,"
1t Is from the Baltimore Sun of yester.
day. Says the Sun:
In Baltimore financial circles yester.
DAY IL was generally believed that the
negotiations for the transfer of the con
troi or the Seaboard Air Line TO IN A..
Ryan syndicate had been practicaii..
Concluded. The principals In the dea.
useiihea TO talk. but admitted that no
ni.ch had occurred, and that in n few
days the transaction would be closed.
a dispatch from New York received
last night says: The syndicate heod.
ed by Thomas +. Ryan. OF New York.
which two weeks ago contracted for a
controlling block of Seaboard and Pm,
ncke or Seaboard Air Line stock at III.
annual meeting of the company in Ports.
mouth. Va, is now in virtual control of
the property. and between now and DC
tooer 81 the money will he handed over
~ pay lneht LOT the shares that have
been collected and pooled.
The threatened detection in the non,
mat held over 1000 shares of stock
which might have deprived the purchas
ing syndicate of the desired control. ha
neen aVerted. and unless all signs fall
ierent auspices within the next thirty
days. y
The visit of Mr.. Thomss r RYAN TO
Baltimore led TO a complete settlement
uI certain misapDrchersons and fears
The belief was entertained In certoi,
quarters that although the pool com.
mittee had agreed to turn over its con-
troiled shares one Of its ME ubers might
weaken. Under the terms of the con-
tract the pool was allowed until yester-
day 70 gather in more shares. and tile
purchasing syndicate agreed 10 take
them at the fixed figures, which was
Sl25 a share
ITO sound the firmness of The par
Ties TO the pool and at the same time
stop the further purchase of stock at
IN. me snt-edsed figure were the reasons of
MT REans visit. He found that the
pool will deliver all its stock and that
he is in control OF between seven and
eight thousand shares.
That is to say, the Hoffman or Nc
Lane pool has five THOUSAND shares and
GENERA Gun, president of the Merca
tile Trust Company, about twenty
seven hundred shares. In order to safe
~ control the property it requires about
nine thousand shares, owing to the pc
culiar voting characteristics of the
stock, but the Ryan syndicate will be
able to easily pick up the NECESSARY
shares. even at much lower cash figure
than paid for the pool HOLDINGS
AS II stands to-day the Seaboard Is
still safely in the control OF the RYAN
syholcate, just as 1t was two weeks ago,
when the pool was won over Some of
the biggest holders say that a desire to
end the disastrous rate war has largely
fmpelled them to agree TO the terms
offered by the Ryan syndicate
me Seaboard. 1t Is claimed, is nj
present in excellent shape. and there is
little doubt that its new owners will take
advantage of this condition to further
improve the property. AS stated above.
the Seaboard is safely in new hands. and
the FORMAL transfer will be effected dur
ing the next eleven days. AS to changes
In the management of the road il is
safe to predict there will be some. The
opinion prevails in official circles that
Vice-President and General Manager
ST John will be retained. for. although
ne mas made many enemies in the re-
cent rate fight. he has demonstrated
that he still has many friends"