Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-01-05
SALE WILL Be MADE,
Ofsr for The SeabOaTd Airline
Practically Accepted
IFS OFFICIAL CONFIRMATION,
n.B Interested in The Negotiations
c'2ra Thnm Successful.
r,ys MUCH FOR RICHMOND
... ...,.-. -s.s"n al '"e
uond. Petersburg and Cnroii""
r.rt of the Schemc-A Direct Line
from Washington 10 Ne" orleans

t..r purchased by Su'hs -
.,..f mainly OF Richmond, Baiti-
... and New York capitalists.
~,. a..l which has occupied months
., --o.t delicate negotiations. and which
. f1lly outlined i'm yesterdays Dis
..,r was consummated in Baltimore
.....-s,v and is designed to lead TO the
..rs.Yd.H-n OF the seaboard with the
-.., and Alabama and the Richmond,
p...-shr-r and Carolina railroads, form
rr.t free and independent trunk
....,-, connecting with the Pennsylvania
-, f0m Washington to Jacksonville
f.a -.-...,,r,,,
rur SYSTEMS BROUGHT TOGETHER
~t. Se.hoard system includes, besides
... .,utrern lines. the Old Bay Line Of
....~e-s. plying between Baltimore and
>.,..rk The total mileage Of the system
Oh. its capital stock. $.sS2,75o; its bond
"a Indebtedness. s17u2Ooo; its other
st.s 81. -sAJ20. making a total of SA'S9'-
or, I'll, system extends from Norfolk to
.n,r,a Ca. with important branches
.,5 COM. .sious which ramify Virginia
,,o.,, and south Carolina and Georgia.
ra, Georgia and Alabama is the snort
,,r.s fr1m Montgomery. Ala, 10 saVah-
-,l el and connection with the Sea-
t.s-l Airline could be made by build
i-g new road through the belt of terri
..-v which now separates these two sYs-
TOMS Mr.. John skelton Williams, presi-
dent Of the Georgia and Alabama Is one
~ the leading spirits-indeed, the leau'hs
spirit-in the syndicate which has offered
10 buy the Seaboard.
The Richmond Petersburg and caro-
lima which is now in course Of construc-
tion south OF Petersburg. and will. II is
tbouebt shortly be extended 10 this city
viii run from Ridgeway y. c. to Rlch-
mond. connecting with the Richmond
Fredericksburg and Potomac at Acca.
MIR WILLIAMS FOR PRESIDENT.
rb. firm of John j. Williams & Sons
~ th,s city. is at the head Of the syndi-
c,t. and Mr.. John SHELTON Williams
rras.5.nt of the Georgia and Alabama, it
81. .a.d viii be the president Of the COM
fnrv when control is transferred 10 the
syndicate
Tine Seaboard AIRLINE securities are
f,~ralv held Dr. Baltimore. In the direc-
forr of the Seaboard and Roanoke are
Nessrs. Louis McLane. Charles ID. Fisher.
and Basil H. Gordon. Of Baltimore; w.
r. Tucker. of Raleigh. y. c.; Charles
Chamcev Of Philadelphia, and Legh X.
Watts. of Portsmouth.
Baltimore capital IS also heavily inter
estcd in the Georgia and Alabama, and
the second vice-prcsideut is Mr.. J. VIII
o. q 3D.. of n nj u CHI
tuddend0rf Oliver & Co. Colonel j. Will
cox Brown. president of the Maryland
Trust company and Mr. Henry \. PaIr
are members of the Board of Directors.
Colonel ErOwu is also treasurer Of the
company
Nearly the entire capital in the syndi-
cate has been subscribed in Richmond
ana Baltimore. with the purpose of keep
ilr the Scaboard AIRLINE from absorp-
lion by other roads. which is in the IN
tercsts Of the merchants Of both these
cities and Of the South generally. \ very
large amount-all that was wanted-Was
readily secured here.
THE fact viii greatly impress business
mon who deal largely with the South,
uat th. Seaboard will be maintained as
al independent system and its usefulness
greatly extended. It's Importance 70 Rich
unI cannot be overestimated. The work
ol ,he Richmond. Petersburg and Caro-
INA road which has been so long delay
d VIII. IL is thought, be pushed forward
r.w with AN possible speed.
The Reported Sale Confirmed.
A telegram 10 the Dispatch from Balt-
more says
"Th. report concerning the proposed
Trcha.. VI the SeaboarG and Roanoke
Railroad Company. parent corporation OF
the Sat1ard AIRLINE system is oi1ciai-
lr .1utrwed. The syndicate which has
Did tor tho property. subject 10 the ap-
InrI ~ the owners Of three-fourths of
tte stock pooled with Messrs. Louis Nc
Lane and Leigh r. Watts is composed Of
Baltimore Richmond, and New York cap
r9H-ts
lir John Skelton Williams president !
OF tha Georgia and Alabama Railroad |
COMPANY is the moving spirit i'm the |
Tram. cuou. and it is understood that he |
WI '. president Of the company when |
control Is transferred to the syndicate.
.t. price agreed upon Is 800 a share, /
Nh.. 81 share more than was offered /
I'r ,ouuoling interest I'm the property /
Two v.ars ago by Thomas +. Ryan.
member of the syndicate said to- |
oaF That it is The intention OF the new |
owners 70 continue the company as an |
'--., uacnt system though ne admitted !
H' iinc might ultimately be built from I
".'''d. the Scaboard's southern termi- |
i-s '1 Montgomery. where connection /
"'f Dee made with the Georgia and Ala |
n.c. The distance between these points
IN miles This would make through |
Hie from Washington 10 Jacksonville"
The News i'm Norfolk.
From Norfolk the Dispatch received this
te.arrsu.
The Associated Press dispatch this
r-oiiAhg with respect 10 the deal Of Mr.
ooth Nkeiion Williams. Of Richmond. Va.
1'' aae9' GATES for controlling interest I'm |
.A' agaboard Airline stock. fel upon
upon Norfolk with the startling effect OF
'-uader-clap from a cloudless sky Both
""na have been stirred from centre 10
CIT lmicreuce au day.
representative of the Associated
called upon Mr. T. St John vice.
nj and general manager Of the
aboard AIRLINE. IN the company's build
l- portsmouth. lie. too. was IN search
r lDioimation. The dispatch was "a great
Prise To him. Other general officers
as much I'm the dark
i~'l'i IN the day the reporter ran
'.ss "a gentleman who does know. He
iaiteiy interested In Norfolk enter
. ana vouched for the. accuracy OF
vac statements made IN the dispatch. The
ynoicate has offered $3.50 per share for
~ shares of stock Of the par value OF
e'' each. and are absolutely certain Of
-'r'hs the system OF roads and the Bav
I,",' Inc syndicate already controls the
-'.h'nond' Petersburg and Carolina road.
-'" ~ course Of construction from Rich
'.nu' Va, 20 Ridgeway. \. C.
Ale S<ab0ard AIRLINE VIII be merged