The times. [volume] (Richmond, Va.) 1890-1903, 1900-01-07

Ryan mas received slIull- &h1i- oSAAAA
ton Williams, president of the Seaooard
Air Line Railroad system. q letter upon
| which Mr. Ryan make the fo!!oWin%
comments, requesting their publication
D. H. SHEA.
Private Secretary to Mr.. Ryan
Mr. Ryan's statement follows:
"Mr: Williams does not touch the objec-
tons to his reorganization plan as thes
were presented in my telegram OF De-
cember 26th,'' said Mr.. Ryan. sIhese
objections remaining now unanswered,
their force is admitted. The charge OF
! bad faith on my part in giving them TO
the public I naturally resent. NIT. VIII
liams' communications to me, orat ana
written, were held by me invioate until
at Raleigh, two weeks ago. MI wiz
liams' attorneys read in open court the
text of q dispatch that he had sent to me
on December nth, in which he referred
to these communications, asserting that
they contained 'ai the propositions that
any fair-minded man could reasonably
desire His purpose in having his teie-
gram read in court was to impress the
Judge with the idea that his conduct mad
been fair and his propositions Just. ana
that I had had such early information
of them as to enable. me to take tsuch
legal measures as were necessary sfor the
protection. of my rights at q much ear
lier time than then. His attorneys were
Immediately warned that this telesrara
was confidential, but they said that it
| was not and that no other matter was.
and that all the communications that
| had passed between me and Mr. Williams
would as they rudely put 1t. soon see
| the light Of day Their action in read
| ing Mr. Williams telegram. in giving 1t
| what I regard as a false Construction.
! and In saying that they propose, tc pub
| fish all other communications. OF course.
| removed the seal of confidence which l
| had been most careful to regard. and L
! thought that the sooner they. saw the
! light of day the better. Mr.. Williams,
! therefore, has no right to complain on
! that ground. of my telegram analyzlns
| his plan. What he SHOULD do, ana must
! do If he expects to convince the public
OF the wisdom of his project as busi-
| ness proposition, is to furnish direct an
| swers to the questions which my telegram
( suggested What I assert is that Nj
Williams, receiving salary as president OF
the Seaboard and Roanoke Railroad, IS
| a trustee for the stockholders OF that
| road and is bound to administer the al
| fairs for the equal benefit of every stock
holder. and has no right to place himself
| in any position which conflicts with the
| interests of that road, and in these posi-.
| tions, to contrive the Seaboard's dismen-
| bernlent 20 his own personal profit ana
| to the profit OF some of the stockholders.
! but to the injury of other stockholders.
| Here. then. are the questions to which
| Mr.. Williams should give specific an
! swers.
SEVERAL QUESTIONS.
"Haye any of the stocks that were in
I! tha treasury OF Seaboard and Roanoke
| prior to his becoming the president OF that
| road been removed out of the treasury
| And if so, why were they removed:
| Where have they been removed. and VINO
! has possession of them now?
Have they been sold. and il so. did
/ Mr.. Williams buy them himself, or We're
| they bought by any syndicate in which
| he is interested, or is he interested direct
| " or Indirectly in their purchase
| Before Mr. Williams became president
| of the Seaboard and Roanoke, that com
| pany owned $4,000 of the stock or the
! Raleigh and CASTOR. BY means OF that
| ownership the Seaboard controlled the
600 miles of track composing the Sea-
| board Air Lille system. At a meeting
! of the stockholders of the Seaboard held
| recently the proxy representative OF the
! Williams syndicate gave attempted au-
| thority against my protest. being owner
| OF one-fifth of the Seaboard stock, TO
sell those Raleigh and CASTOR holdinss'
| thereby dismembering the Air Line syS-
| tenn Has that stock been sold, and If 50.
| has it been sold 10 Mr.. Williams or TO
| any syndicate in which Mr.. Williams is
| interested, or is Mr.. Williams interested
| in the purchase OF that stock directly Or
! indirectly. or does he propose to become
| interested in any such purchase.
1.-THE Raleigh and CASTOR stockholders
| have similarly authorized the sale OF
! Raleigh and Castor treasury securities
I Mr. Williams is president of that road.
! Where are these securities? Are they in
| the custody Of the treasurer of the Raj
| egh and CASTOR? Were they in his
| custody when at stockholders meet
| ing they We're authorized to be sold. How
| long have they been out of his custody?
! Why were they ever taken out Of MS
! custody? Have they been sold? II so IS
| Mr. Williams directly or indirectly IN
terested in their purchase or any pro-
| posed purchase of them?
| ..Wniie Mr.. Williams is throwing things
open to the light of day. he should not
hesitate to let in a little light upon these
transactions. They go directly to the
legality OF what he is. doing and not I'M
til the public knows the facts IN these
matters will it be able TO judge whether
Z it can safely invest its money in Mr.
| Williams enterprises.
1 A DIFFERENCE CLAIMED.
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