Evening star., 1896-11-16
Hitch in the Transfer of the Seaboard
and Roanoke.
The POOL HAS REPENTED
One of the Owners Examines the
Property to Be Sold.
THE MANY TRANSACTIONS

~sS~AAS@AN
popularity known as the seaboard Air Line,
did not pass into the hands of Mr.. Thomas
F.. Ryan of New York Saturday, as that
gentleman has frequently, during the past
few weeks, declared would be the case. and
to accomplish which he reached Baltimore
from New York the evening before.
Mr.. Ryan, according to the Information
given to a Star reporter in Baltimore, was
endeavoring all day Saturday to secure
legal possession CT the system, which has
suddenly attained remarkable prominence
In the important systems of the United
States. and which he and those directly
sociated with him have coveted for the
greater part of two months, but just as 1t
seemed within his grasp, they realized the
truth of the old adage that there Is many
slip twixt the cup and the lip"
1t has all along been stated by friends of
Mr.. Ryan, who is said land the assertion
has not been denied) to have UNLIMITED
means and a fine line of credit had Sc
cured an option on the stock held by the
HOffman-McLane pool of Baltimore, and
which amounted to between 5000 and 1900
shares of the Seaboard's stock, but a close
examination of the papers under which the
option was given is said to have disclosed
that when those managing the pool passed
the papers to Mr.. Ryan they attached
thereto string which had such strength
that Mr Ryan was not only unable to ex.
eTclSe MS option unless the pool saw prOI,
er to allow him to do so but that he placed
himseif. unwittingly, of course. 1t Is to be
presumed. at the mercy of the pool. and 1t
Is now a question il he and those connected
with him will not be the losers of $50. 600
and the control Of the property besides.
The Forfeit Money.
This 10000 represents the sum the Ryan
syndicate paid down to bind the agreement,
and whether the pool will give up that
money If the deal fails Is question which
may have to be settled in the courts. How
long 1t may take to secure judicial decision
as to point covering the legal ownership OF
the money referred to may be imaginedwhen
1t Is recalled that when the late Robert Gar
rett was president of the Baltimore and
Ohio Railroad Company over ten years ago,
and the former Napoleon of finance. Hamil-
ton s. Ives. was in the heydey of his glory.
he essayed to secure the Garrett holdings
in the Baltimore and Ohio, and approached
/ Mr. Garrett on the subject. The latter, 1t is
said. expressed a willingness TO sell. provid-
ed suff1cient inducement was offered by Mr..
Ives The latter promptly deposited. It was
understood, forfeit Of $25OOO0. that he
would take the entire amount of stock own
ed by the CARROTS at stipulated price,
and by certain date, which was named.
For some cause, not necessary to now
mention. and as Is now generally known. the
deal did not go through, but as suit was
late entered by Mr.. Ives or his representa-
tives against Mr.. Garrett for the recovery
there was trouble about getting the money
back, and so far as has been made known
the question of ownership has not yet been
settled.
The Hitch.
1t Is thought to be not improbable that
recent actions of Mr.. Moncure Robinson,
one OF the most prominent members of the
Hoffman McLane pool, may be contrib
uted largely to the disappointment and ap-.
the past ten days Mr.. Robinson made
tour of the Seaboard lines in the private
car of President Hoffman, and he Is said
to have arrived at the conclusion that the
Seaboard was too good property to dis
pose of at such short notice as Mr.. Ryan
desired to accord.
Mr.. Robinson returned north during the
latter part Of last week, and within a day
or two afterward went south again, and
again he travelled in President Hoffman's
private car. On the latter occasion he
came from New York to Washington by
the Pennsylvania road. and in this city his
car was transferred to the tracks of the
Southern railway and attached to q train
of that road, whence the distinguished oc-
cupant went south, and unless he went
home yesterday he is still in that portion
of the country.
1t is said by some persons that during his
last visit south Mr.. Robinson met Presi-
dent M. H. Smith of the Louisville and
Nashville company. and that the subject of
conversation between the two gentlemen
was the future ownership of the Seaboard.
The outcome of the interview between
Messrs. Smith and Robinson, II meeting
between those gentlemen really did take
place, has not as yet been developed, but
there is reason to believe that Mr. Robin
son during his brief stay north, after his
inspection of the Seaboard, said that he
was not eager 10 sell out now-even at
1925 share for his Seaboard stock and
$50 share for his stock in the Baltimore
Steam Packet Company. which was also
embraced in the option given the Ryan
syndicate.
told a Star reporter that he had informa-
ton from an intimate friend Of one of the
legal gentlemen who drew up the papers
covering the option that Mr.. Ryan and
gentleman. whose name has been thus far
successfully withheld from the public, went
into the deal exclusively on their own
hook. and not for the Southern or any one
else.
"The opening of a joint line between
Washington and New Orleans" he con-
tinued. 'hy the Southern and Louisville
and Nashville companies Is understood by
laymen to mean that there are no longer
any questions of serious difference between
the management Of the two lines. and there
are not few usually well-informed people
who believe that 1t demonstrates that the
Southern and Louisville and Nashville have
arrived at an understanding regarding the
Seaboard, and that in the comparatively
near future it will belong to the two COM
panies named, jointly"
''It is nevertheless. still suspected" said
another New Yorker, who was present,
that the Louisville and Nashville would
like to become the sole owner Of the Sea-
board II Mr.. Ryan does not get it,
President Smith of the L. and N. has
stated within the past few days that his
company does not want the South Carolina
and Georgia road from Augusta to Charles
ton, which 1t was reported they were trying
to secure, but he did not deny, when asked
the question, that he was strongly in favor
Of buying or leasing the Seaboard Air Line
system.
What may be Mr.. Smiths wishes In this
direction would probably have great weight
with his board of directors as they are
said to realize that they made grievous
error when they declined to take the Cen
trai of Georgia when 1t was offered to
them a few years ago, especially as 1t has
since. become a most harmonious ally Of
the Southern.
Lively Times Expected.
The next few days are expected to fully
settle the fate Of the Ryan deal for the
Seaboard, and If it fails. now seems
probable will be the case, there may be
livelier times ahead for many roads than
we're experienced during July, August and
September.
The selection of Mr.. John NJ. Eagan as
vice president of the Central, an heretofore
untitled position, by the directors of that