The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1896-10-13


7 first asked is not known on the ou:
r side, but as the stock has been abov
J $50 and has been as low as $36 withi
the past few months, 1t is probable
that SllO was not considered a bat
price. Recent statements of tn
Southern show that in its ret earning
for the first ten weeks of the presen
financial year, beginning July 1st, tn,
system fell behind S190.000, or nearl,
$1,000 month. This was In larg,
measure due to the rate war inaugural
, ed by Mr.. Hoffmah's management O
the Seaboard.
Mr.. Hoffman's reelection as presi
dent of the Seaooard would be tn,
pany's sale to Mr.. Ryan. In the presen
state of public mind in the South, i
would make matters worse to openly
announce that the Seaboard had beer
bought up by its competitors to get ri6
of competition.
Mr.. Ryan went down to Portsmouth
last night on one of the bay boats with
u. B. M. Harvey and some friends from
Baltimore. Dispatches from Norfolh
intimate that Mr.. Ryan got in some
missionary work before the meeting
and ndd arranged the deal for the block O.
4,OCO shares. He was working hand
in glove with Mr.. John Gill, who had
been managing the Baltimore end o
the campaign, directed toward the
requirement OF the Seaboard. The
common stock of the Seaboard and
Roanoke consists of 10,5S7 shares of a
par value of 81 ,05S, 700 and the guar.
antee6 and preferred make q total ul
81 1902, 900.
1t is just possible that the Seaboa~d
system and the Central of Georgia will
be consolidated, though it is more
probable that it will be merged with
other Ryan and Thomas properties and
handled for the present as u separate
system.
1t is said that the entire manage
ment of the Seaboard will resign with
in thirty days.
The Sale to Thomas and Ryan Is
Fully Confirmed-What the New
Deal Means.
NEW YORK, October. 7.-Thomas f.
Ryan, in reply to an inquiry from a
representative OF the Associated Press,
said that he would not deny the report
that he had bought for himself and
others majority OF the stock of the
| SeabOard and Roanoke railroad.
The Seaboard and Roanoke owns a
controlling interest in the various
roads that compose the Seaboard Air
Line. Mr.. Ryan and General Thomas
have made other purchases of railroad
property in the South recently, includ-
ing the Port Royal and Augusta and
Port Royal and Western Carolina and
have consolidated the two lines into
one system, the new company operat-
Ing as the Charleston and Western
Carolina.
The Importance of the transaction
lies In the assurance of peaceful read
Justment of the relations between the
Southern railway and certain Of it's
competitors, who have been respon-
sible for radical disturbance in rates.
Ryan and Thomas are known to have
been operating together in Southern
railroads for some time. General
Thomas built the East Tennessee,
which is now part of the Southern.
Mr.. Ryan is a Southern man and a
very close friend of William G. Whit
ney. Ryan and Thomas hold con-
trolling interest in the Central. 1t
has been intimated by Mr.. Spencer
that the Southern, which is the sue
cessor of the West Point Terminal,
has beneficial interest in tho Central
and has determined 10 have that in
terest closed out and the money paid
over to the Southern.
If this takes place and Ryan and
Thomas have obtained the Seaboard
Air Line 1t means the creation of
another great system of railroads run
ming into this section under distinct
ownerships, but controlled by men who
are entirely in touch with each OTHER
and who will conduct friendly COM
petition for business.
1t is also believed that the Thomas
Ryan lines will work in close connec-
tion with the Louisville and Nashville,
practically joint operation. The
Southern comprises the oil East Ten
nessee, the Richmond and Danville,
the Georgia Southern and Florida,
and the Georgia Midland, and this
system will be the great competitor of
the other.
This would create two great systems
touching nearly every part Of tho
southeastern States.
Ryan and Thomas and Morgan and
his associates are jointly interested in
q great many other enterprises. So
long as the two systems are controlled
on the one side by Ryan and Thomas
and on the other by Morgan and his
associates, competition between them
will not be carried,t to the extent Of rate
wars but will be upon thoroughly con-
servative lines.
On the other hand theory is pre-
sented that Ryan and Thomas merely
represent Morgan and his associates
and that the real purpose is to consoli-
date both systems, while they are I7&-
parently separate. If the sale has be3n
accomplished it has been through the
agency of General John Gill of Balti-
more, who is we'll known in Atlanta.
He was for a long time the friend Of
President Hoffman and was close
| friend of John M. Robinson who pre-
| ceded Mr.. Hoffman as nresiIani ,G.ihe
Seaboard. ~
r. General Gill's trust company was
trustee for the Georgia Southern and
Florida. 1t Is now trustee TO-: the
bonds of the Georgia, Carolina and
Northern.
1t has been known for sometime that
he considered the extreme course of
Messrs. Hoffman and ST. John unwise
and ruinous to the property. His advice
not having been needed by these GER
tlemen he is supposed to have formed
an alliance with Ryan and Thomas and
set himself to work to obtain control OF
the stock OF the Seaboard for the pur-
pose really of protecting the property
against the extreme methods that arc
being used by Messrs. Hoffman and St.
John.olf he has in fact obtained control
OF the property there Is no question
that his associates are Messrs. Ryan
and Thomas and that a further align.
ment either in the direction OF an in
dependent system, having friendly
relations with the Southern or as an
adjunct to the Southern, will be carried