The morning news., 1899-12-22
INJUNCTION WAS REVOKED.
RALEIGH AND GASTON MEETING
NOT INTERFER ED WITH.

ing Every Possible Fair PROPOSE
ton Had Been Made--OnIy Sixteen
AntagOnistic shares-.First step of
SeabOard Consolidation Is Accom-
pIished.
Raleigh, n. c., Dec. 21.--Upon applica-
tion this morning of attorneys for Thomas
F. Ryan of New York, a temporary re-
straining order was issued by United
States District Judge Thomas r. Purnen,
to prevent any action of the Raleigh and
CASTOR Railroad stockholders looking to-
ward the consolidation here to-day of the
various lines of the Seaboarl Air Line
system.
A few hours later Judge Pl1r nell grant
ed Inc parties a hearing and revoked the
temporary restraining order in a written
judgment as follows:
"The order inadvertently signed this
morning, is revoked and the service there
of held to be invalid. In the exercise of
a sound judicial discretion, the restraining
order is refused"
Upon the charge of Mr.. Ryan's counsel
that the interests of his client would he
irreparably jeopardized by the coneolida-
ton plans of the Williams syndicate.
Judge Watts, general counsel of tho Sea
board Air Line read the foFowinty dis
patch from President John skelton VIII
Jams to Thomas F. Ryan under late of
Dec. u:
No More Offers to Make.
1--WE have already submitted all the Of
Iers, suggestions and propositions that any
falr-minded man could reasonably desire.
including propositions for the arbitration
by court or disinteres ed persons of the
dlferences between US, and we have moi h
ing further to propose. Our Efforts to e.
cure peaceable solution of the question
nave been in no way reciprocated bv yoiI,
but you have appeared to be determine
to place in the way of this great enter
prise which means so much for this whole
section Of country, every obstacle within
your power directly and indirectly
AT the solicitation of yourself or your
attorneys meetings were proposed hop
ing that an adjustment might possibly be
reached, and your attorneys have endeav-
ored to make capital out of those adjourn
ments by securing the sending out of
newspaper reports intimating that these
adjournments were forced upon us by your
deposition. Your attorney visited a news
paper Office in Norfolk Saturday night and
succeeded in having sent out over the wires
false statement to the effect that you
had held up the meeting which was held
in Raleigh on Saturday by your 'unex-
pected opposition whereas our pro-
gramme for Saturdays meeting was car
rled out precisely as we had planned.
Would Respect His Rights.
1--WE have told you frankly that we in
tended to respect all of your rights as a
stockholder in this SYSTEM and to accord
TO you terms as favorable as those ac-
corded to any other stockholder. If you
Will join with us in an honest effort to
work out this proposition on a wise. con-
servative and equitable plan, you have the
opportunity of doing so, but If your aim
Is to obstruct, delay and iniure you can
go ahead on your own responsibility We
are prepared to protect to the fullest and
to rTomote the interest which we repre-
sent. anG you will find out this will be
done.
in conclusion, I will again remind you
of the statement which you made to me
in one of our first interviews, to-wit that
it was not your intention, to use your own
language, to 'sand-bag' the situation, and
If you did not feel warranted in joining US
ip our plan Of reOrga nization, that YOU
would name price on your stock. which
your attorney, Groner, informed me in the
presence of your attorney, Page, had aver
aged you between 80 and 100
Il would also remind you Of your request,
=
terview, that ! should advise my fellow
members in the Seaboard syndicate to sell
out their holdings at 500 per share for
Seaboard stock, which you said you
thought was a fun price for that stock.
and one which they ought 10 be only too
glad to realize"
Resolution Was Adopted.
The meeting of the stockholders of the
Raleigh and Castor Railroad was accord
ingly held at 4 O'Clock p. m, pursuant to
an adjournment at noon.
The purchase of the proposed committee
stock of subordinate companies Of the
system was reported by Vice President e.
st. John with the prices paid ard a reso.
luton approving and confirming the same
was adopted by vote OF 1887 shares to
16
The following resolution was also adopt
ed by the same vote:
Whereas, it is proposed to unite the
railways and properties of the Seaboard
Air Line System with those of the South
Bound Railroad, the Georgia and Ala
bama Railroad, and the Florida Central
and Peninsular Railroad Company thus
creating a system operating railroads from
Richmond, Va, and Portsmouth, Va
through the states of Virginia North
Carolina, South Carolina Alabama, Geor-
gia and Florida, therefore, be it
Resolved. by the stockholders of the
hdlelSu ana 0dStOH Itdlfod1 Company.
That they approve a corporate union of
the railways and properties comprising the
Seaboard Air Line System with those Of
the Southbound Railroad, the Georgia and
Alabama Railway and the Florida Gem
tral and Peninsuar Railroad Company
upon such fair and just terms, to the
stockholders of such properties as
may be agreed upon by them,
and they hereby authorize and empower
the president and directors of this com
pany 70 join In such agreements, contracts
merger or consolidation. or other measure
as may he legally necessary or proper 10
bring about the closest physical connec-
ton or corporate union or merger of such
properties, for the accomplishment of the
creation OF the system so proposed"
The meeting was then adjourned until
Jan. II, next when final action is expected
to be taken.
sEABOARD's CAPITALIZATION.
Total IL $4,000 n Nile Against the