The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1896-11-19
Saahoard Air Line Officials Radiant Over
Their Roads Continued independence.
WILL Be NO CHANGE IN ROADS POLICY
President Hoffman Arrived Hero
From baltimore Yesterday and
Wns Joined by Vice President "a.
John-rhe Previous Views OF tho
Fir.inian Confirmed.

AS announced In the Virginian of yes
derday, the Seaboard Air Line will re-
main in the hands of its present owners,
and It's president, MIR. r. Cu,zon Hoff-
man Will continue to direct its policy.
The development IL q vindication of
the Virginian's view OF the RyanThom-
as deal from its incipiency. Every phase
OF the transaction was recorded in these
columns, but at no time did the paper
admit an actual sale of the Selb "a rd
road. The construction placed upon the
facts by the Virglnian now proves to
have been correct.
number OF the directors of the road
came down from Baltimore yesterday
nirtning on the Bay Line steamer Geor-
s!a. which had all her bunting flying in
honor of the men who will continue to
operate hec. The party was joined here
by Vice President ST. John. and they
left on a special train at o'clock for
tour of inspection.
President Hoffman was radiant. Ask
ed about what would be the policy OF
the Seaiboard in the future. he said
Our roads independent policy Is we'll
known, and we have no changes to
make"
Vice President st. John said, in reply
to congratulations on the adm.ns;ra-
TONS VIC o:y: "Of course 1t is a source
of qualification 70 us; and our patrons
feel safer when they know that competl-
tion will be continued in the South. We
had some doubts at one time as to the
continued independence of our line. 1t
was close shave, but we have emerged
from doubt into the certainty of con-
tinued competition"
ANOTHER RATE WAR?
Baltimore, Nov. ls.-The announce
ment that the deal for the sale OF the
Seahoard Air Line to Mr.. Thomas f.
Ryan, representing New York syndi-
cate, is Off, does not end the matter,
according to reports current to-day In
we'll informed circles. 1t Is said that
Mr.. Ryan will institute legal proceed
irgs to compel the pool committee to
deliver the $500 shares held by It pre-
vious to and at the time the agree
ment was signed at Portsmouth, Va,
between Mr.. McLane, representing the
pool and Mr.. Ryan. representing the
New York people.
IT is said that the committee has full
control of this stock and can dispose
of II without consulting the owners who
uncovered II to act for them.
The 100000 which Mr.. Ryan deposited.
and which was to have been forfeited
in the event he failed to carry out his
part OF the contract, will. 1t Is under
stood be returned at once.
The question now interesting railroad
and buriress circles in Bait imore and
the South is: "Will the rate war be
resumed?"
The companies are now free to re-
some quarters that the Seahoard will
renew its demand for the withdrawal
of the York river service to Norfolk,
and failing. viii slash rates again.
There are still many who believe that
the Louisville and Nashville will finally
secure control of the seaboard system
It is known that the louisville and
Nashville is anxious to own an eastern
connection. and it is said that the
Knowledge of this may have induced
pf tl,n cf0 rl,n11 10 1t-tt n
their consent for the sale to the Ryan
syndicate.
A telegram from New York last night
to The Virginian says
Tho annc'rcenent that the nnGntia-
tinns for the control OF the Seahoard
Air Line to Thomas #. Ryan, of this
city. had fallen through because of the
refusal of the Hoffman pool to turn
over it's stock. has been confirmed bv
mn or9cial statement from President
Hoffman, issued in Baltimore last night
Mr. Thomas F. Ryan to-day declined
to make any comment on President
Hnffmap's statement. nor would he dis
cuss the refusal Of the pool to turn over
its stock. \ gentleman closely identi-
fled with Mr.. Ryan. however. said to
a renorter:
"The control of the Scahoard Air Line
has been perpetuated with the present
management on the proposition which
stockholders have been led to believe
ing that property for the Southern
railway This is absolutely without
any foundation in truth. Mr.. Ryan
was negotiating for the control Of the
p"oncrty solely for himself. but the i'm
preston was fostered among stockhol-
ders that the Southern railway interests
wero behind the rncotintions, How long
the present conditions will continue is
q question which time alone can tell
"a determination to keep the proper
ty In the control of the present man.
arernent became apparent the very day
Of the annual meeting. when II was
quite evident that anything and every
thing would be agreed to, providing
that the meeting would not he marked
bv trouble. The refusal of the majority
OF the Hoffman pool to agree TO a trans
fer was wholly expected for within the
last ten days II became known that
bitter struggle was going on to pre-
vent the property from changing
hands. But Mr. Ryan is the largest
irdiv'dual stockholder In the company
Fe has purchased between two and
three thousand shares held under the
Gill option, and with the shares he had
already bought. he holds over 1000
shares. What he will do now is a
question, hut he will In ali probability
go into the courts. and the result will
be long and bitter legal battle. He
holds contracts for the delivery OF cer-