Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-01-05
The r.. u. & c. Lease.
ALL CONCUR IN ACCEPTANCE.
The Deal Practically ClOsed-Plans
for the Future.


BALTIMORE. January 4.-The Sun to-
morrow will say:
The offer of 500 a share made by the
syndicate headed by the clearinghouse
Of John L. Williams & Sons. of Richmond,
/ Va. for the pooled stock Of the Seaboard
and Roanoke railroad, has been accepted
by all persons living in Baltimore who
have stock in the pool. Assurances have
been received that out-of-town stockhold-
ers who signed the pooling agreement will
also accept, and the necessary three
! fourts assent under the agreement will, 1t
Is understood, be readily secured.
The offer Of the syndicate to buy out
! the company, and with it the control Of
| the thousand miles Of railroad i'm the Sea
| board Airline system, is one of num-
Der Of offers for this property in the past
three years. After Mr.. Thomas f. Ryan,
of New York. made his offer about two
years age 20 buy the pooled stock at Sl25
q share. another syndicate made an offer
BEEN A STUBBORN CONTEST.
This second offer was the outcome Of
the stubborn contest waged for the GUST
ing Of the Hoffman management and the
proposition came from "a syndicate IN
which Baltimore merchants We're largely
interested. The offer was partly induced
by the feeling held in some quarters that
the control Of the Seaboard Airline
might fall into the hands of the Southern
railway or its allies unless secured by
strong influences not identified with any
existing southern system.
The big rate war which was the culmi-
nation of the disagreement between the
Southern and the SeabOard. and the sub
sequent litigation coming from the Ryan
syndicate in its attempt 10 break up the
pool which held the control of the system,
kept things at tension. Criticism was
shot at the management for not accepting
the offer of 1925 a share made by the
Ryan syndicate. and the claim that the
property was worth more was denied by
some stockholders signing the agree
ment
Considerable interest is manifested IN
the plans of the syndicate, which includes,
in addition to Richmond and Baltimore
capitalists a numbef of New York men,
who are represented by the Produce EX-
change Trust Company. of New York.
COMPLETE THE r., =. & c.
1t is stated that the first move will be
10 complete the construction Of the Rich
mond. Petersburg and Carolina railroad
from Richmond TO Ridgeway. y. c., where
it meets the Seaboard Airline. Some time
ago property was purchased in Richmond
10 be used as terminals for this new road.
A connection with the Georgia and Ala
bama will not, it is said. he a thiEg of
the near future. although the fact that
the syndicate has a controlling interest
in that road will induce steps TO connect
the two properties.
1t is regarded as highly improbable that
such a connection. if made, would be
built from Atlanta 10 Montgomery, as
these two cities are the western terminal
OF the two systems. The most likely plan
would be to build from some point on the
Georgia, Carolina and Northern 10 Sa-
Vannah. so as 10 secure a direct route 10
that city The Seaboard already has n
direct route 10 Atlanta. \ plan to estab-
lish a new direct line from the national
capital to Florida. by building into Rich
mond and securing connection from
there to Washington. would taken the
road toward Savannah.
TO REACH NEW ORLEANS.
The Seaboard has been anxious for some
years TO reach New Orleans and con-
nection into Washington made by filling
in the gap from Ridgeway, y. c., 10 Rich
mond. Va. would put the system in posi-
tion 10 make satisfactory terms for reach
ing the Crescent city. There has been
talk In the past of an alli-
ance between the Louisville and Nash
Vile ana the Seaboard AIRLINE, and it is
believed that such an agreement would
quickly follow If the Seaboard were in po-
sition 10 furnish a satisfactory entrance
into Washington.
There would he but little difficulty in
arranging for through cars to Baltimore
and New York from Wash
ingtOn.