The times. [volume] (Richmond, Va.) 1890-1903, 1896-11-15
The HOFFMAN STOCK OPTION
Mr.. Thomas Ryan Meets an Obstacle
in the SeabOafd Purchase.
NO EXPLANATION CAN Be OBTAINED.
The Stock Covered by the Gil Options
Secured, But the Committee Was
Not on Hand to Close the
Hoffman Stock Option.

WASHINGTON. Nov. H-The following
statement. relating TO the Seaboard AIR
Line purchase. was given out this after
noon by the Mercantile Trust and Deposit
Company OF Baltimore:
Mr.. Thomas +. Ryan to-day accepted
and paid for the stock OF the Seaboard
and Roanoke Railroad Company covered
by General John Gilrs options through
the Mercantile Trust and Deposit Com
pany, between two and three thousand
shares.
Mr.. Ryan also called at the office OF tho
company TO close the Hoffman pooled
stock option, which expired to-day, but
the committee was not ready 10 deliver
the stock or tell what amount had como
IN undo that opticn.
MR.. RYAN TALKS.
Thomas +. Ryan, OF New York. who
is al the Arlington tonight. confirmed tho
statement issued by the Mercantile Trust
and Deposit Company. OF Baltimore, that
the nooled stock OF the SeaDoard and
Roanoke railroad. controlling the Sea-
hoard Air Line, held by the Hoffman IN
,erest had not been delivered to him
under the forty days contract, and that
no information could be obtained con-
cerning the amount OF stock held unaer
the option by the pool.
Mr. RYAN also confirmed the lur'ner
statement that he had accepted ana pala
for the Seaboard stock covered oy Iehera,
Gilrs option, which is between Two anu
three thousand shares. lie dechneu "
s,ate whether the failure OF the Hohmah
Dcol 10 turn over the control OF the sea-
hoard meant a collapse OF the negotiations
hut in reply TO a question as 10 "neene'
IL meant legal warfare Tor Tue pos'es
sion of the read he remarked' ani NV
looking for a fight. os q, ,is.
AR RYAN said that he wah'eu ~ o'
,inctlv understood that he was NOT , nes
tiating FOR the control or tne oea9o
FOR the Southern, or any o'nel -" ~.
ba was acting solely for himself fio
, 80 declined 10 make any statement
ooncerrin9 the latest developments.
rho failure OF the Hoffman pool 10
transfer the stock pooled under the hoh-
man ontion has caused considerable sur
nrise in financial circles, ana Is con-
s,ruad ,o mean that there Is very Dit
ter dght ahead for the control OF the
seaboard Air Line, which may Involve "
reopening OF the rate rate trouble among
the Southern lines.
Under the contract entered into at
Portsmouth, Va, in OCTOBER. Det"e"h
Mr.. Ryan and the pool holding FOR ten
thousand shares of Seaboard stock, IL is
stated that Il was agreed that the pool
should secure more stock. and forty days
were allowed for that purpose. This ex-
pires tomorrow. but when the Ryan
party appeared IN President Hoffmans :
office in Baltimore to-day 10 pay Tor the
5000 shares gathered by the pool. none
of the pool committee. with the excep-
lion ~ Judge Watts, OF Portsmouth
wcire on hand.
NO EXPLANATION.
No explanation could be ascertained or
tho unexpected turn OF affairs, and Mr..
RYAN withdrew. accompanied by his law
yer Elihu Root. of New York.
The effect. It IS said. OF the latest phase
OF the situation Is that the control or
the property will remain In the hands or
the Hoffman interests for the present.
In certain circles the belief prevails that
outside interests, which seek TO control
the property, are responsible for the
seeming collapse in the negotiations.
II is said that the Louisville and Nash
Vile is after the property. and II Is
expected that the struggle for the con-
troll OF the property will be attended by
interesting Developments
Mr.. Ryan and Chairman Blackstone. Of
the Reorganization Committee OF the
Cape Fear and Yadkin Valley. had 4
long conference in Baltimore to-day, and
it is thought that in the future that
property and the Seaboard will be close
ly allied.
II is pointed out that the developments
of to-day show the value OF the Sea
board as an eastern and southern outlet
and the interesting part that il is TO play
in the Southern railroad situation.
As IL stands, Mr.. Ryan. with the pur-
chase or the GIL holdings to-day. owns
between four and FIVE thousand shares
Of Seaboard and Roanoke stock, which
makes him the largest individual share
holder in the company.
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