The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-10-09
NOTICE,
Owing 30 the heavy pressure or adds
greater portion of thc Portsmouth
local VIII be found on tho 9Th page.
THE sEABoARD AIR LINE.

The Baltimore Sun Of Thursday con-
ealned the following from the. pen Of j.
S. Lemmon:
An analysis of the vote cast at the
meeting of the stockholders of the Sea-
BOARD and Roanoke Railroad company,
at Portsmouth, on Tuesday, shows how
IrmIy Its stockholders stood together
IN II, defense OF their property and it's
management against the efforts OF the
so-cailed Ryan syndicate. The total
STOCK OIL the company Is divided into
1854 shares, of which Mr.. Ryan claims
TO hold 200, leaving 11,lSd shares out
standing. OF these shares the proxy
committee reported 1.S40 shares belong
ing TO friends of the company 'cnJoining,'
leaVing free to vote 1924 shares, out of
wnicn MT. Hoffman received by the
teiiers return the votes OF 9,130 shares,
pelng within 1856 shares of all stock not
ciaimed by Mr.. Ryan and within 200
snareS OF all stock reported present at
the meeting by the proxy committee.
!here were two inJunctions which af-
Ieeted the vote. Cne of them came
rom me state court at the instance of
MT. norman to prevent Mr.. Ryan from
casting more votes than his stock was,
under the charter, entitled to. through-its
SUBDIVISION into twenty-sharc lots in
the names of a number of New York
bank clerks who could have known
nothing of the railroad companys af-
iairs' and who, If they did, would have
oeen little inclined to invest money at
MT. Ryan's prices in n non-dividend-
paying stock. This .njunct!on was op-
envy issued on September last, but
no steps have been taken by those en-
joined 10 even deny the facts upon which
II was based. This injunction. how
ever, stopped only the voting of some
forty shares actually presented to the
proxy committee.
The other !Cjunction-for while there
were two, their effect was the same
was obtained by Mr.. Ryan on Saturday
OCTOBER 2 from Judge Simonton. in
chainDers. was carried in Mr.. Craw-
tords thts attorneys pocket until 4 D.
IN. Monday, October 4. was then filed in
Rlchmnnd-- instead of Norfolk so that
the allegations upon which it was based
could not be so easily seen, and was
served at the last minute, when il was
100 late to take measures with Judge
S!monton against its effect One of the
counSel for the Scaboard asked the
United States Deputy Marshal to show
IL 10 him before the meeting was called
and the Marshal declined. saying he
IA" instructions not to show it until
the meetimg'
This injunction stopped the voting
OF some 1.Si0 shares rendered the proxy
committee and some forty other shares
rendered the tellers, but failed to reach
the bulk of the shares held by the Nc
Lane pool, as the latter had reanirmcd
their confidence in Mr.. Hoffman by new
proxies, which rendered II unnecessary
for the management to rely upon the
pooling agreements for votes.
1T is stated the Ryan forces claim a
victory. If that be so they were the
Saddest looking lot of Victors ever saw
with all their attorneys, buster. noise
and mud Singing, they failed to gain
any support from disinterestcd stock
holders or to defect any votes from the
able and honest management that con-
trolls the road.
one more campaign like this Will
leave Mr. Ryan without IL friend and
Mt HOFFMAN without an enemy among
those who have their own money invest
ed In the system.
This community is especially to be
congratulated that the Seaboard Air
Line has again asserted its indenen-
dence and is still in n position to main
tain healthful competition in our trans
nortat!on rates and facilities throughout
the South"