The times. [volume] (Richmond, Va.) 1890-1903, 1896-11-19

as r. Ryan, makes this contract 10 PVT
chase relying on the representation '''N
tho railroad companies composing the
Seahoard Air Line system are Tree OF All
floating debt due 90 ans creditor o'h'I
than some company in that system Said
party OF the second part BIS 90 have forty
days from this date within which 10
have an examination made into th' CON
ditions and accounts 81 said corpora
ton and systems 20 determine whe'h''
said representation IL correct
con the 18th OF October J went 10 the
company's Office TO make the cN"h'li''
ton thus provided for. and was rciu''n
permission TO look at tho books an"
all opportunity 10 look ~ them mas pee"
refused ever since. observation-disclosures '"o
fact that the signcrs OF the 'o"t' 49,
which contained the foregoing ptoNl7.D"
constituted onc-half Of the ho"rd OF IL
rectors. What new light these gentle
men obtained as 10 the CONDITION Oh '''
company between the ON OF octoDcI'
when they made their representations 10
me and agreed that ! should nave inc
opportunitv TO examine. and the l-th OF
October. when they refused me 'ha' "p-
portunity. ! do not know. nut ihcy seer"
TO have preferred TO break th'T con
tract rather than to permit me 10 Neilly
their representations.
Il understand that the principal arku-
ment used TO provisional s'ockho'ueI''
other than those who made the "hic'
mcnt with me. was the settlement 'n"t
was purchasing In the interests OF inc
southern railroad. and I would not oper-
ate the road mys<f This has thcn no
fcundatfon. [ have never in this transac-
tion either directly or indirectly, repre-
o,nfed the Southern Railroad company
or ANYBODY interested I'm That conp"h;
or interested I'm any southern Infoau
,ompanv whatever. or anypo"N' p"' "''
self. 49,. .,ock ~ tho
II own now more OF the STOCK o' ,'.o
c.,hoard Company than all the uT'c,ol'
-, oeiccrs Of the company put together
"nd i cxpcct 10 have something 10 Bay
regarding its future. -.,.,. NJ
: gentleman closely identified with MT
rho control Of the Seaboard Air Line
49,, noon pcrpctuatcd with the present
manaecmcnt on the propo3ilion VIZ
stockholders have been Tea 10 n'''F, -
true. viz: that Mr.. Ryan was ""f' ~" ,r,..
,,rorortv for the Southern railway. mas
'i,.,i,,clv without any foundation ln
ruth MIR. Ryan was n'to,i",''-7
81 .coptrol of the property solely l"i hu"
-, NM the impression was los iv"
,r,opq stockholders that tht SUM
,oii,vav interests were hchind 'h' u,7D
,t.tions How long the present con"ll ionH
viii continue IS "A question WIN"
alone can tell. ,.,.,,t.,,.rt.D
g.. denomination to keep the pfopei'.
-, ,nc control Of the present management
INC appareut the very day OF inc
,,,,,,sl meeting. when IL was pullc 'Nl-
5en, ANYTHING and everything wonid DC
srreed TO- providing that the meeting
,ould not be marked hy trouble Inc i'
fis,d of The majority Of the HOFFMAN p""'
10 agree TO "a transfer was wholly eA
,,,.ct.d for within the last ten days ii
hccor,e known that "A bitter struggle was
Going ON TO prevent the property from
Cbopcipr hanls. But Mr.. Ryan is the
largest individual stockholdcr IN Inc
comnanv lie has purchased between
TOO and three thousand shares held UNI
der the General Gin option. ana WIN
the shares ne had already bought. ne
holds over { ~ shares What he VIII 40
row is n question. hut he Will IN an
proha bilty. 20 into The courts. ana the
results will be n long and bitter legal
rght He holds contracts for the de-
livery OF certain pooled stock. ana. ne
inc tho largest individual holder. ne VIII.
douhtless. also proceed 10 exercise some
Of his rights as such. There are IN
teresting times ahead for the Scahoard'
and all talk that chahE' I'D 'i' '"l''
shin will mean the death TO competition
IN the Southern territory Is the vcriest
nonsense.
"A great factor also i'm the failure of
the negotiations was that the outside
companies are after the Seaboard. It's de-
STABILITY as an outlet South and North
Is known TO Northern interests, which
ere anxious TO pay a bonus for its con-
troll
1T Is understood r. Curzon Hoffman
retained control of the Scaboard Air Line
by paying $25 more a share than Mr..
RYAN agreed TO pay for the pooled stock.
Mr. Ryan will I'm a day or two. IL
IS said make a formal statement i'm re-
gard 10 the DEAL
The Baltimore. Chesapeake and Rich
mond Steamboat Company probably i'm
anticipation Of a continuance Of the rate
war and consequent increase in the vol
ume Of business. has ordered a new pas
Sengcr steamer.