The morning news. [volume] (Savannah, Ga.) 1887-1900, 1899-01-04
NEW RAILROAD SYNDICATE.
FORMED TO BUY CONTROL or THE
SEABOARD AND ROANOKE.

Relieved to BE Headed by J. skeleton
Williams, President of the Georgia
and AInbnmn-Rynn Has been Try
ing to Get IL, bat Is Not i'm the
Syndicate-Said That the Price 10
he Paid Is $500 "a share-To In
cIude Steamship Line
Baltimore Jan. S.--A syndicate, believed
to be headed by j. Shelton Williams, the
Richmond banker has made an offer for
a controlling interest in the Seaboard and
Roanoke Railroad Company, the parent
organization of the seaboard Air Line
President r. Curzon Hoffman declined to
discuss the subject to-day but from other
authentic sources, il was learned that the
offer had been made, and that MIR Hoff-
man. as chairman of the pool which con-
trolls the company, favors its acceptance
A gentleman identified with the company
said to the Associated Press representative
tonight:
Il understand that an offer has been
made TO Mr.. Hoffman for controlling in
terest in the stock of the Seaboard and
Roanoke Railroad Company. which he
win submit to his stockholders, with his
advice that il be accepted. The terms are
not yet 10 be made public, but / under
stand that the prices are satisfactory TO
Mr. Hoffman. lie has received assurances
that the line VIII be operated in the future
as in The past, as an Independent Southern
railroad Mr.. Hoffman is Informed that
nearly the entire capital comes from Rich
mond and Baltimore capitalists, and that
every effort will be made to prevent the
absorption of the company by other
roads"
In some quarters 1t was stated that the
Georgia and Alabama Railroad is the pros
pective purchaser of the SeaboaHd
The price contained in the offer IS guard
ed by all interested, but il was limited that
900 per share would not be far from the
mark.
Ryan Is Not in II.
Thomas f. Ryan of New York, 'vho
owns more than 1000 shares of the stock
and has been endeavoring to secure con-
troll of the road for the past two years, Il
is reliably stated, is not connected with
the syndicate. There has been a spirited
contest between Mr. Ryan and the present
management of the property for control.
This contest has covered period OF two
years, and the Hoffman faction, which
controls the system, has been successful
throughout the long legal battle.
The Seaboard and Roanoke reaches
Baltimore Dy the Baltimore steam RACKET
Company, a majority of whose stock it
owns The company operates a dine of
steamers between Baltimore and Old Point
Comfort and Norfolk. The sale of the
Seaboard and Roanoke would carry with it
control of this line.
The total length of lines comprised In
the Seaboard Air Line system on June 80,
1897, was 1866 miles. The lines of roads
are as follows:
Northern Divison-Portsmouth Va, to
Raleigh, N. c., 1850 miles; Durham-Hen-
derson branch, Henderson, N. c., to Dur
ham,N C.,H.4O; Decentralization branch.
Boykins, Va, to Lewiston, N. c., $500;
Louisburg branch, Franklin, N c., to
Louisburg, 1000.
Central Division-Raleigh, ". c., to
Hamlet, N. c.. $3.50; Wilmington, ~ G.,
to Rutherfordton, n. C., 267 90; Carolina
and Henrietta branches, $40.
Pittsboro Railroad-Moncure, N. c., to
Pttsboro, N. G., 11.20; Gibson branch,
Hamlet to Gibson, N. c., 1013; Palmetto
Railroad, Hamlet, N. c., to Cheraw, s.
c., 1920.
I Southern Division-Monroe N. c., to At
lanta, Ga, 2661O; Belt Line and truckage,
11.O0.