The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1899-01-05
A DEAL IN
RAILROADS
Liberal Offer For the Control of the
Seaboard Air Line.
WILL PROBABLY BE ACCEPTED

Then VIII Follow, It Is Expected,
Further Extensions of Railroad Lines
I'm the south which WIN Enable the
seaboard Line to Reach New Orleans
Baltimore. Jan. 5.-The offer OF $500
a share made by the syndicate headed
by the banking house Of John L. Will
Jams & 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
stockholders who signed the pooling
agreement will also accept, and the
necessary three-fourths assent under
the agreement will, 1t is understood,
be really secured.
The offer Of the syndicate 20 buy out
the company, and with 1t the control
Of the thousand miles Of railroad in
the Seaboard Air line system, Is one
Of number Of offers for this property
in the past, three years. After Mr.
Thomas f. Ryan, OF New York. made
his offer about two years ago to buy
other syndicate made an offer.
This second offer was the outcome OF
the stubborn contest waged for the
ousting Of the Hoffman management.
and the proposition came from a syn
dicate 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 into the
hands of the Southern railway or its
allies unless secured by strong infiu-
ences not identified with any existing
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 sl25 a
share made by the Ryan syndicate, and
the claim that the property was worth
more was denied by some of the stock
holders signing the agreement.
Considerable interest is manifested
in the plans of the syndicate which
includes. in addition to Richmond and
Baltimore capitalists, a number OF New
York men. 1t is stated that the first
move will be to complete the construc-
tion 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 terminals for this new
road. a connection with the Georgia
and Alabama viii not 1t is said, be
a thing Of the near future, although
the fact that the syndicate has a con-
trolling interest in that road will in
duce steps to connect the two prop
critics.
1t is regarded as highly probable that
such a connection, II made, would be
built from Atlanta to Montgomery, as
these two cities are the western term
inis of the two systems. The most like
ly plan would be to build from some
point on the Georgia, Carolina and
Northern to Savannah, so as to secure
a direct route to that city The Sea-
board already has a direct route 10 At
lanta. A plan to establish a new di-
rect line from the national capital to
Florida, by building into Richmond
and securing a connection from there
to Washington, would take the road to-
wards Savannah.
The Seaboard has been anxious for
some years to reach New Orleans, and
a connection into Washington. made
by filling in the gap from Ridgeway,
N. c., to Richmond, Va. would put the
system in position to make satisfactory
terms for reaching the Crescent City.
There has been considerable talk in
the past of an alliance between the
Louisville and Nashville and the Sea-
board Air line, and It is believed that
such an agreement would quickly fol-
low If the Seaboard was in a position
to furnish a satisfactory entrance to
Washington. There would be but lit
tie difficulty in arranging for through
cars to Baltimore, Philadelphia and
New York from Washington.