Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-01-06
SPECULATION
| ON THE CHANGE
The Sale of the Seaboard
Generally Discussed.
6 Mr.. WILLIAMS PRESIDENT
The Other Officers a. Matter of conjcc-
lure : Mr. Anderson's Friends
Would Like TO See Him Rack with
the New Mnuagemcnt-Lat Do
vciopments ian the Deal = Is the
Southern Ira it9


Southern uit3
The sale of the Seaboard Air Line
to the Williams syndicate. as an
nounced in the Pilot local
columns yesterday and confirmed by
kilograms and Associated Press dis
patches, was the principal subject of
conversation in the clubs, hotel Hobbies.
cafes and on the streets. The financial
and mercantile people. of course, looked
at 1t purely from business standpoint,
while the citizens generally are inter-
listed In the movement. The result of
the deal so far as relates to the officers
was largely a matter of speculation,
but there seemed to be but one opin-
ION as to the final result, and that was
that there would be a number OF
changes. These changes, however, will
not take place for the present, and 1t
is thought that n majority of the en-
ployes will be taken care of, while 1t
seems TO be little doubt that some of
the higher officials will be retained.
THE NEW SYSTEM.
While it is asserted that the Seaboard
VIII be run as an Independent road, the
tact that the new syndicate is COM
posed of capital that is Interested in the
georgia and Alabama road and the
Richmond, Petersburg and Carolina
road. now in course of construction
gives rise to the belief that the three
roads will be consolidated into one sys-
tenn.
This will hardly, it is snid, be done at
once. as the Richmond, Petersburg and
carolina railroad is not completed, and
a connecting link will have to be
bought or built between Atlanta or
some other point on the Seaboard to
montgomery or Savannah, on the
Georgia and Alabama
MIR. WILLIAMS PRESIDENT.
There is a general feeling of pleasure
IN Norfolk at the thought that Mr..
John Shelton Williams will be made
president when the final details OF the
transfer of the property are made. He
mas many friends here who have
watched his upward movements on the
raiiroad ladder of prominence with a
great deal of interest and satisfaction.
ana they are highly pleased at his de-
served success.
speaking of Mr.. Williams, the Balti-
more American says: Mr. John Skel-
ton Williams, who is said to be on
gineering the deal. is young man. not
over Oh years OF age. He has developed
remarkable business capacity and exc
cutive ability. Only three or four
years ago he became interested in the
Georgia and Alabama railroad. then
called the Americus and Montgomery
rms was n year or so before If went
INTO the hands of receivers. When the
tiine came Tor reorganization Mr. Will
ii'iilS LOOK q strong stand in the mat
Ter lie mad plan of his own for re-
organization. and subsequent events
proved that 1t was by far the best pro-
poseu' But there was bitter struggle
AGAINST 1t and some people laughed Mt
the young mans presumption' He
mad pitted against him some of .ba
oIoest heads and strongest financiers in
Baltimore. but he beat them. His nlon
was adonted 1t provided for new
cap!tai to be acquired from bondholcers
equal 10 the amount of their HOLDINGS
For this they were to receive of corrss
II nfst mortgage bond equal TO the
amount OF new capital, a certain
amount in second mortgage and pre-
ferred and common stock. The mar
kct value OF these issues shows the wis
dom or thc rtTT1, AND vfndIcntes the
Judgment OF the young flnancier. At
tnat time the old bonds OF the Ameri
Gus and Montgomery were selling al
apout $40 per 500 face value. In a short
.ine they passed ninety The new
bonds of the Georgia and Alabama are
seiilnE above par the preferred stock
at about forty and the common ar
about eighteen. Enoch Pratt shortly
after the road had been reoreanizaS
ana Williams made president of the
company, and having inspected the
w illiains plan. although not himself
ne,ng interested in the property. said:
nat young man will be heard from
yet"
MR. THOMAS J. ANDERSON
The fact that Mr.. Thomas ]. Ander-
son. VINO recently resigned the office of
general passenger agent of the Sea-
u ." mas not accepted any other posi-
ton, though it is believed he has had
several offers. leads his friends heraN
ana theN are many-to think that he
VIII De returned to his old Office under
the new arrangement Mr.. Anderson
IS an exceptionally fine officer and his
long term or office with the Seaboard
makes him thoroughly conversant with
every detail OF the traffic department.
a gentleman in the Atlantic Hotel WAC
heard to say yesterday that AIR. An
derson was one of the most capable
passenger officials he ever knew.
IS THE SOUTHERN TEpE,cT1,r,,
The Baltimore American of Yesterday
says: notwithstanding the claim put
Iorth that the Seaboard, and with it the
Georgia and Alabama. If consolidated.
is to be operated independently OF any
other Southern lines, the impression ex
lists that 1t will eventually he operated
In conjunction with or in the interest
or the Southern railway. and the pre-
d!ction was made yesterday that the
Richmond. Petersburg and Carolina
road. now under construction from
Petersburg to the South, and by which
the Seaboard system will reach Rich
mond. will be abandoned. The CON
struction of this road and the building