Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-01-22
NOT BOUGHT TO SELL,
Williams Syndicate VIII Not Dis
pose Of SsabOaId Stock
TO HAVE COMPLETE CONTROL
Have Actual Possession Of Three
FOurthS Of the Securities.
TO DEVELOP THE PROPERTY,
Acquired for This Purpose, ana
worth as Much to Its Present owns
erS rs IL Would he to Anybody
Else.
TO DEVELOP THE PROPERTY,
Else.

I'VE would not sell the Seaboard ROAD
for an advance of 2,0oo0o0 In cash or
what we paid for II. We bought tho
property as an investment not for stock
speculation. and intend 70 hold and deF
velop it and make 1t one Of the best sys'
TENS in the South"
So declared Mr.. John SHELTON Williams
TO a Dispatch reporter last night lie
spoke thus emphatically in connection
with a report from Norfolk to the effect
that a rumor had gained circulation In
that city that Che Williams syndicate had
determined to sell it's holdings in tho
seaboard TO New York parties.
Mr.. williams could not have made his
denial more pointed or positive. Such
a thought. he said, had never entered his
mind. or those OF his associates. They
bought to hold. not to sell.
THE REPORT FROM NORFOLK.
The Dispatches special from Norfolk
says:
THE rum0r gained circulation in this
| city to-day to the effect that the Williams
syndicate had determined 10 close out its
HOLDINGS Of Seaboard AIRLINE stock 10
New York parties. No Authorization
could be obtained Of the rumor, but In
railway circles here II is stated that
Morgan & CO., who financed the Southern
railway. would be willing 20 pay fabu-
lous advance for the stock, In order TO
control the system. The failure Of Mr..
| Rvan's effort to stop the deal has placed
Mr.. williams in a position to get almost
any price he wishes for his stock"
MIR. WILLIAMS DENIAL
Mr. williams returned yesterday morn
ing from a hurried trip TO Georgia, and
was M work I'm his Office until late last
p night catching up with his accumulated
correspondence and arranging mportant
matters. When his attention was called
to the Norfolk special quoted above no
5 smiled and said there was not the slight
2 est shadow Of a foundation for the rumor
1 i'm circulation there. After denying tho
, report. as already quoted. Mr.. Williams
e said: 1--WE are entirely satisfied with our
2 purchase of the SeabOard. and neither
z the property nor any OF our stock Is on
}. tho market. We consider the Seaboard
I one of the most valuabla lines IN mo
q South and propose TO thoroughly de-
70 velop IL and so conduct IL a. 10 make III
worth as much 10 US as 1t could possibly
e be Ia ANYBODY else our syndicate has
D absolute control having actual possess
. sion Of nearly or quite three-fourihs OK
b the stock. No. sir; We would not sell.
3, even at a clear profit of 100000
HE WILL BE PRESIDENT.
Just when the reorganization OF tho
70 Seaboard win take place IL not yet
d known AS has been stated before, MI
Williams will be the new president Ito
l. mas been the president Of the Georgia
n ana Alabama since its reorganization.
g ana while these two systems will not be
n merged I'm any way, they have direct
connections. and Will be operated In
close and friendly union. Indeed, IL Is
+. not unlikely that they viii In large mea-
sure. have the same officers
l There is no doubt that the change OF
ownership OF the Seaboard will mean
g great deal for Richmond, among othei
things insuring the building Of the Ken
~ mond petersburg and Carolina road e
~ this city. Those connected with ana II
T. touch with this road are very reticent
" hut II IS not doubted IN financial ciicie
u that the line viii Dee promptly con
shucted.
IS While the injunction proceeding
n brought by Mr.. Ryan caused some htti
y delay. the negotiations looking To IN
~ Purchase Of the system were closed WIZ
"a pre,t promptness. considering the magni
j" tude of the deal. President Norman wa
not approached on the subject until aoou
Cbristmas. and on the 18th or 2sth o
Doca,ober he accepted the prOpositio
made 10 him. He required as a guaran
l. tee that a deposit OF NoOon De maze an
,gitbout delay Mr. Williams laid beior
hts attorney a certified check GOVERN
~ the entire sum Of the purchase price