The morning times., 1896-10-05
IS. A. |. OFFICIALS HsGREE
Gen. gill Takes Issue With
President Hoffman.
CHANGE IN MANAGEMENT
Liberal Offer Has Been Made for
the Stock of the Seaboard and Ro-
anoke-Says Southern VIII Not Sc
cure Control of the S. A. L.-Spicy
Correspondence.

Baltimore, Oct. 4-Thc possible absorb
tion of the Seaboard Air Line by the South
ern Railway Company, as Indicated in these
dispatches last Friday, has led up TO
SUCH serious trouble in the seaboard house
hold that the rate war with the Southern
Company is for tue time being forgotten.
Gen. John Gill president of the Mercantile
Trust and Deposit Company OF this city,
which corporation has been the financial
agent of the Seaboard, has taken issue
with President Hoffman and Vice Iresi-
dent st. John regarding the management
Of the road and rates, and has addressed
TO the stockholders Of the Seaboard and
Roanoke Railroad, the line which Controls
the Seaboard system, u letter asking for
options on tue stock.
THIS letter offered 500 share If a
controlling interest in the line can be
secured. AS tie market price OF the stock
is now about $45, ii can readily be seen
that Gen. Gill means business and that
an earnest effort is being made to wrest
tue management of the Seaboard from the
hands Of those now in control.
LIBERAL SUN OFFERED.
The offer is made at this dine because
the ANIMAL meeting uf the Stockholders
Of the Scaboard and Roanoke Railroad will
be held next Tuesday at Portsmouth. As
the offer Is so much higher tuan ui.e inlrtru
DTltt Oh StbCh IL WOulu Dbt Dt SuI-
prising If the control of the road should
pass into the hands of The parties repre-
sented by Gen. GIL. He, however, asserts
that he is not acting for the Southern.
About $3.50 900 in stock constitute con
trul of the road.
The pcculiIrity Of the situation can he
better understood when / is stated that
Gen. Gill is director OF the Seaboard
Air Line system and that President X.
"A n Spnlia, iS Iii
rector Of the Mercantile Trust and Deposit
Company.
Shoui,l the control of the Seabeard be
obtained by Gen. Gill, 1T is believed that
General Manager st. John VIII be deposed
as he is looked upon by the Baltimore
stockholders as being responsible for the
present rlinouS rate war.
President Hoffman, as soon as Gen.
Gil's proposition was made TO the stock
holders, sent a letter to each OF them in
winch lie said tnaU Gen. GINS letter had
been issued without the Knowledge, con-
sent, authority, or approval OF the man
agement, and is against your true in
terests."
APPROVED BY STOCKHOLDERS.
To this letter Gen. Gill today made reply
that his proposition TO buy a controlling
interest in the Seaboard Company was
known to a great many stockholders and
ms effort for years to stand by the presi-
dent of the Seaboard, but as man OF
business and financial experience, he has
been compelledto take issue with Mr.. ii Off
man in the matter of The war with the
Southern, and does not know OF a single
gentleman of any prominence in financial
circles in this city, or any other, who
does not approve OF his action
He says MIR. Hoffman does not own the
Eeabeard. but lis owned by .he stockho
ers, of whom l am one OF the largest ~
He goes on TO say that the securities
OF tie seaboard have been rendered almost
unstable.
So FAR as he knows. Gen. GIL says,
The control Of the seaboard stock viii notgo
TO the Southern Railway. He SAYS it
Is Understood between himself and those
he represents that they take the stock
also OF the Baltimore Steam Packet Com
pany at u fair price. I.