The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-01-05

Richmond Va. fDr the pooled stock Of
the Seahoard 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 stockholders who signed the
rooling agreement will also accept, and
the necessary three-fourths assent under
the agreement. viii. it 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 in the
Seaboard Air Line system, is one of a
number of offers Cor this property in the
past three years. After Mr.. Thomas +.
Ryan. of New York made his offer
about two years ago to buy the pooled
stock at 1925 Share. another syndi-
cate made All offer.
This second offer was the outcome of
the stubborn contest waged for the GUST
ing Of the Hoffman management and
the proposition came from 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 Sea-
board Air Line might fall into the hands
of the Southern railway or its allies un-
less secured by tstrong Influences not
identified with an existing Southern
system
"The big rate war which was the cul-
mnation of the disagreement between
the Southern and the Seaboard. and the
subsequent litigation coming from the
Ryan syndicate in its attempt to break
M the pool which held the control of tne
system, kept things at tension.
Criticism was shot at the management
for not accepting the offer of S125 Il
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 SLAMS 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. Va, to Ridge
way, y. c., where it meets the Seaboard
Air Line. Some time ago property was
purchased in Richmond to be used as
terminals for this new road A connec-
ton with the Georgia and Alabama will
not, it is said. be thing of the near fu-
ture, although the fact that the syndi-
cate has controlling interest in that
road will induce steps to connect the
two pronerties.
..It is regardetf ~ highly improbable
that such a connection. if made. would
be built from Atlanta to Montgomery
MS these two cities are the Western ter
minal of the two systems. The most
likely plan would be to build from some
point on the Georgia, Carolina and
Northern to Savannah, Ga, so as to Sc
cure a direct route to that city. The
Seaboard already has a direct route tC
Atlanta. A plan to establish Il new di
rect line from the national capital to
Florida. by building into Richmond and
securing a connection from there tc
Washington. would take the road to-
ward Savannah.
1.-THE Seaboard has been anxious fol
some years to reach New Orleans and
connection into Washington made By
filing in the gap from Ridgeway, n. O..
to Richmond, Va. would put the system
in position to make satisfactory terms
for reaching the Crescent City. There
ras been considerable talk in the past
of an alliance between the Louisville
and Nashville and the Seaboard All
Line. and it is believed that such On
agreement would quickly follow if the
Seaboard was in a position TO furnish
satisfactory entrance into Washington
There would be but little difficulty il
arranging for through cars to Baltimore
Philadelphia and New York from Wash
| ingtOn."