The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-01-06

- (0AARo0~4
Edmond and New York
ton Williams, president of
D6fgia and Alabama railroad
my is the moving spirit in the
)4nsaction and it is understood that
he will be president of the company
when control is transferred to the syn
| dicate.
The price agreed upon is $500 a share,
| which is SIS a share more than was
| offered for a controlling interest in the
| property two years ago by Thomas F.
| Ryan.
A member of the syndicate said to-
| day that it is the intention Of the new
owners to continue the company as an
Independent system, though he admit
ed that a line might ultimately be built
from Atlanta, the Seaboard's southern
terminus, to Montgomery, where con-
J nection would be made with the Georgia
and Alabama. The distance between
these points is ITS miles. This would
make a through line from Washington
to Jacksonville.
Norfolk, January 4.-The Associated
Press dispatch this morning with re-
spect to the deal Of Mr.. John Williams,
of Richmond, and associates for a con-
trolling interest in the Seaboard Air
Line stock, fell upon Norfolk with the
startling effect of a thunder clap from
a cloudless sky. Both towns have been
stirred from center to circumference
all day.
A representative of the Virginian-Pilot
called upon Mr.. E. st. John, vice pres
ident and general manager of the Sea-
board Air Line in the company's build
ing in Portsmouth. He too was in
search of information. The dispatch
was a great surprise to him. Other
general officers were as much in the
dark.
Later in the day the reporter ran
across a gentleman who does know. He
is largely interested in Norfolk enter
prises and vouched for the accuracy of
the statements made in the dispatch.
The syndicate has offered $500 per share
for $500 shares of stock of the par
value of 500 each, and are absolutely
certain of securing the system of roads
and the Bay Line. The syndicate al
ready controls the Richmond, Peters
burg and Carolina road, now in course
of construction from Richmond, Va,
to Ridgeway, N. G.
The Seaboard Air Line will be merged
with the Georgia and Alabama railway,
of which John Shelton Williams is
president, and a strong system will be
organized.
The deal has been on hand for sew
eral weeks and is expected to be con-
summated in Baltimore tomorrow
night. The syndicate is much worried
that the deal obtained publicity before
it was consummated, but our informant
says there is 10 no danger Of failure.
Baltimore, January 4.-The Sun to-
morrow will say:
The offer of 5000 a share made by the
syndicate headed by the banking house
of John L. Williams & Sonsy of Rich
mond, Va, for the pooled stocks of the
Seaboard and Roanoke railroad has
been accepted by all persons living in
Baltimore who have stock in the pool.
Assurances have beer received that
out-of-town stock holders who signed
the pooling agreement will, it is under
stood, be readily secured.
The offer of the syndicate to buy out
the company and with it the control of
the thousand miles of railroad in the
Seaboard Air Line system is one of a
number of offers for this property in
the past years. After Mr.. Thomas F.
Ryan, of New York made his offer
about two years ago to buy the pooled
stock at $125 a share, another syndi-
cate made an offer. This second offer
was the outcome of the stubborn contest
waged for Ousting the Hoffman man.
agement, and the propositions came
from a syndicate in which Baltimore
merchants were largely interested. The
offer was partly induced by the feeling
held in some quarters that the control
of the SeabOard Air Line might fall in
to the hands of the Southern railway
or its allies, unless secured by strong
influences not identified with any exist
ing southern system.
The big rate War which was the cul-
mination of the disagreement between
the Southern and the Seaboard, and the
subsequent litigation coming from the
Ryan syndicate in its attempt to break
up the pool which held the control of
the system, kept things at a tension.
Criticism was shot at the management
for not accepting the offer of $125 a
share made by the Ryan syndicate, and
the claim that the property was worth
more was denied by some stockholders
signing the agreement.
Considerable interest is manifested
in the plans of the syndicate, which in
cludes. in addition to Richmond and
Baltimore capitalists, a number of New
York men who are represented by the
Produce Exchange Trust Company, of
New York.
1t is stated that the first move will
be to complete the construction of the
Richmond, Petersburg and Carolina
railroad, from Richmond to Ridgeway,
N. c., where it meets the Seaboard Air
Line. Some time ago property was
purchased in Richmond to be used as a
terminal for this new road. A connec-
tion with the Georgia and Alabama
will not, it is said, be a thing of the
/! near future, although the fact that the
| syndicate has a controlling interest in