The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-12-19
BUT THE BLOW WAS VAIN
MOVE IN THE GEORGIA LEGIs-
LATURE FUTILE.
CANNOT DEFEAT THE sEABotRD's PLANS
Consolidation WI be Effected Despite His
Efforts 10 The Contrary. Mr.. Ryan's Inter-
ests, Mr.. Williams Says, Have
Been Shown Consideration.
Especial to The State.)

Especial to The Statel
Baltimore Dec. 17.Mr. John Skelton
Williams. president Of the Seaboard
Air Line. the Florida Central and PEN
insular railroad and the Georgia and
Alabama railway, now being consolidated
into the greater Sea.board Air Line sys-
TEN. was seen in this city yesterday, and
III reply to an inquiry as to wha. effect
the efforts of Thos IL. Ryan, of New
York, and other inimical interests would.
have upon the proposed construction,
said:
Our plans Of consolidation are pro
crossing smoothly and rapidly The
events Ct the past few days have beer
especially fruitful in good results to the
Seaboard, and rs far as we can judge
the evil and malicious Influences which
are being eyer.ed by our demoralizeG
enemies are reacting heavily in ON
favor. This il especially true Of tht
iniqnifous hill which Thos H Ryan Of
New York managed to have introduced
steaIthily into the Georgia legislature
few days ago. one which rot through
the Senate before attention was drawn
10 1t. The effect of this I'LL. had Ii
passed, would have been to prevent thu
consolidation of those roads Of tho sys-
tenn lying III Georgia, and would conse
queatly have seriously interfered Wit
the whole plan. The bill wa singenious.
II worked, and its venom was artfully
concealed. Mr.. Ryan had conferred mls
hopes on the passage OF this bill, but
when public attention was drawn 10 III
d tremendous reaction set in against it
and the Legislature of Georgia iRdig
nantly and Overwhelmingly d.feaseI it.
THE meeting Of the stockho ders of
the Seah0ard system which was called
Tor November 18th to take III, iIliiiaI
steps looking to the carrvi1g through
Of the consolidation, was adjourned ten
days to Dee. 9th, ut the special request
If Mr.. Ryan and his attorneys, under
the ETetense that they were anxious to
effect a peaceahle adjustment Of all diff.
ferences with the majority sfockhold-
ers, but, that owing TO the engagements
Of their counsel the negotiations for
settlement could not be taken up unit
Dee ). The counsel of the Seaboara
syndicate accordingly met Mr.. Ryan's
counsel on Dec. 9th, having been led by
him to hope that an amicahle solution
Of the problem might be reached. and
these discussions were continued for
several days. Meanwhile, without any
previous iRtdmation TO MS or our coun-
sci, Mr.. Ryan went ahead and intro
duced this bill in the Georgia Legisla-
fllre on Dec. 9th and secured It's Dassag
III the Senate on the 18th, and Ga the
18th his Baltimore attorney felt so com
fident Of the passage Of the bill hy the
house also that he undertook to advise
people to get out OF the securities Of the
system on the ground that this bill
which he appears to have confidently
expected would become a law, would
absolutely prevent the carrying ont of
our plans.
sOther attorneys of Mr.. Ryan pro-
ceeded to make capital of the fret Or
the Adjournment Of the Seaboard meet
ing, which had been postponed from
tile 29th of November to the 9th OF De-
cember as a matter of courtesy and
accommodation Of the minority inter
csts, by proclaifning through the press
that the adjournment was forced upon
the reorganizers Of the system By Mr.
Ryan's opposition, which they falsely
declared had held up the plans.
This attempt to attack the Saaboard
system through the Georgia Legislature
was a presumptnous effort to carry into
effect the threat, which Mr.. Eyan in
cautiously made several weeks ago,
when lie was heard to declare that I'M
less the Seaboard syndicate should meet
his views and yield to certain foolish
ard preposterous demands Of his iii
which he arrogated to himself 10 prac-
eically control the consolidation, that he
would secure the passage through the
Legislatures of Georgia and Virginia iusgi
such bill as he has yainly attempted
10 rush through the Georgia Legislature
to defeat the consolidation II fhe
greater Seaboard system. Mr. Ryan
was assisted in his nischiey0us cheme
by the attorneys in Georgia of a prom
inent competition of the Seaboard svs-
tenn who exerted themselves t9 the ut
most to secure the passage Of this
malicious BILL
1t may be proper at Ills time. il
view Of certain allegations which have
been published by Mr. Ryan's attorneys
recently, to state exactly what this III
tefest is ID the Seab0ard system H
owns less than 90 per cent. Of The can
ital stock of one of the is r. ats In the
system. and this road ii less than 50
miles long ont Of q total Mileage i'm the
system of more than 2,3All miies, an
this road In which he is Il stockholdPr
does NOT EHHlI0l AtIeGiiA OF lhusFNfiAA
any other road in the system, with the
exception of a small lumber road III
North Carolina about 30 miles long. HeI
has few shares here and there in some
Of the other roads. but the total value
of his holdings of the shares in the
other roads is less than $1,000 Taking
all the securities which he holds in the
entire Seaboard system at their market
value, it would represent less than y
per cent. of the actual value Of The Sea
board system based on the present
market value Of its securities. or
scarcely ! Ter cent OF the value Of thel
three systems which it is now proposed