New-York tribune., 1899-12-18
RAILROAD INTERESTS.
SEABOARD AIR LINE PLANS.
PRESIDENT WILLIAMS CONFIDENT THAT
THE CONSOLIDATION WILL BE
EE,E,ECtTL-n GOON

THE CONSOLIDATION WILL BE
EFFECTED SOON.
Baltimore Dec. r.-John Shelton Williams
president of the seaboard Air Line, the Florida
Central and Peninsula Railroad and the Georgia
and Alabama Railway, now being consolidated into
the greater Seaboard Air Line System. seen
in this city yesterday. and in reply to an inquiry
as to what effect the opposition OF Thomas F.
Ryan, OF New-York, and other interests would
have upon the proposed consolidation said:
Our plans OF consolidation progressing
smoothly and rapidly. The events Of the last few
days have been especially fruitful in good results
TO the Seaboard. and, as far as we can judge. the
influences which being exerted by our enemies
CARLY ao 81 he BIN which T0ma Ran Of
New-York, had introduced In the Georgia Legs
Senate before attention was drawn to It, the ef-
feot Of this bill. had 1t passed, would have been TO
have seriously interfered with the whole plan Mr.;
this bill. but when public attention was drawn TO
II tremendous reaction set in against II, ana the
The meeting of the stockholders Of the Sea-
board System. which was called for November ~
through OF the consolidation was adjourned ten
days. TO December g. at the special request or Mr.:
were anxious to effect peaceable adjustment OF
all differences with the majority stockh9Lders 9ef
the negotiations for a settlement could not oe
ase@ seaboar9 R syndcate n accordingly met Mr Ryans
counsel on December 5. and their discussions were
any previous intmation TO US or our counsel, MI
Ryan went ahead and introduced this Dill IN tne
Georgia Legislature on December A. and secured lts
passage In the Senate on the llth and on the l5tn
his Baltimore attorney felt so confident or me
passage Of the bill by the House, also, that he
undertook to advise people TO get out Of the Sc
curitles Of the system on the ground tnat this
bill which he appears to have confidently expected
would become law, would absolutely prevent the
carving out OF plans.
Others proceeded to make capital OF the fact OF
the adjournment OF the Seaboard meeting, when
had been postponed from November 70 TO December
as a matter OF courtesy and accommodation 10
the minority interests, by proclaiming through the
press that the adjournment was toTced upon IN. eno
reorganzers OF the system oy MT. Ryan opposi-
Il may be proper at this time, in view Of certain
state exactly what Mr. Ryans interest is in the
Seaboard System. He owns less than ~ per cent
Of the capital stock OF one OF me sss ben eSbty
miles long out OF a total mileage in the system OF
than twenty-five hundred niles ana ntro Is TVuu G
rectly or indirectly any other road in the system,
with the exception OF small lumber road In North
Carolina about thirty miles long. He has rev
but the total value OF his holdings or the shaes IN
the other roads Is less than 5000 Taking all these
securities which he holds in the entire SeaboaTu
system at their market value II would represent
less than per cent of the actual value or the sea-
Of It's securities. or scarcely per cent OF the Vaue
OF the three systems which It now proposes 10 con-
sodae into the To- show Mr. Ryan
every proper consideration and courtesy in this
matter, but are now convinced that MS attltudq
is one OF unjust and unreasoninG antagonlsm;
will only add that plan of consolidation Will be
carried into effect in the next few weeks; AS 70
the financial status OF the various roads, II Is
time in their history, and the growth and develop
ment of the business of the system are indicated 70
found necessary to place for fifty new locomotives
and more than five hundred additional freight cars