The times. [volume] (Richmond, Va.) 1890-1903, 1900-02-08
TO VOTE TO DAY
ON The BILL.
Hearing Closed onthe Sea
boards Charter Act.
A LIVELY SESSION.
Four Gentlemen Expressed Their.
Views to the Committee.
CROWD FAVORED THE MEASURE.
CROWD FAVORED THE MEASURE.
Senate Chamber Packed With People
Who Manifested Their Sympathics
by, Their Applausc-Prcsidcnt
Williams Says r., Il. & 2.
Can Be Parallclcd Under
an l;xistin. Charter.

The Senate Committee on Roads spent
nearly four hours last night in hearing
against the Seaboard Air Line bill.
There were more spectators than on
Tuesday night. THE Senate Chamber
and the gallery were literally packed
with people Several ladies were in the
audience.
The sympathes Of the crowd We're
overwhelmingly With the Seaboard and
the people did not hesitate to express
their sentiments by noisy applause
Senator Foster twice threatened to move
to have the hall cleared if the demon
strations should be kept up. This had
no effect upon the crowd
During the evening telegrams were read
from citizens of Norfolk and Portsmouth
asking the passage of the bill.
President Williams and Senator FiCod
addressed the committee in behalf of the
charter bill and President Myers and
State Treasurer Harman in opposition
to it.
Senator Wiclzham called the committee
to order, but Chairman Maynard soon
appeared and presided over the session.
MAJOR MYERS VIEWS.
President e. I. D. Myers, Of the Rich
mond. Fredericksburg and Potomac
Railroad, was the first speaker: he 1lrst
addressed himelf to the proposition that
his company was able to carry out the
pledge it had made to pay the State II
per cent. interest on the holdings of the
Commonwealth The Major went into
figures showing the earnings of his COM
pany He said he believed the financial
record Of his road was one that could not
be shown by any other line OF elgnty-one
miles in the country. The Major SAID he
was not present as sponsor for the carry
errors of the road. which was almost as
old as himself. His connection with the
company dated from soon after the war,
when he became road-master. For ten
wears he had been the president. He
stated that during the last ten years no
action had been taken or policy adopted
for which he was not responsible. His
object had always been to promote the
financial success Of his road. 1t is not a
successful policy to charge the highest
rates The object had been to secure the
greatest paying tonnage. Sometimes,
it was necessary for his company, as
with other companies. to carry freight at
less than the cost of transportation.
The Major claimed that the rates to
New York are iess than to any tother
point of anything like an equal distance
from Richmond.
NOT A MONOPOLY.
Major Myers denied that his company
was monopoly. He contended that the
rates were absolutely controlled by the
water lines. The steamship lines to New
York and Baltimore carried three-fourths
-. .1,<.E
not conceive, therefore. how any one
could say that his company had mono
,,oly of the business. His definition OF q
monopoly was something that had eNcu-
sive control of a thing. This could rot
be successfully charged against his COM
pany.
The Major denied that his road was in
any way responsible for the southern
road leaving Richmond off its main line
to the South and he gave a history OF
how and when the charters were secured
for Tie roads that now constitute the
Southern's system from Washington Via
Charlottesville and panville.
Major Myers said that in order to pay
70 per cent dividend to the State and 70
all other stockholders, the sum OF sSio,N
will be needed In 1889 the sum of $780,
to was realized in clear profits. Tho
record Of the last six months indiclte
that the profits will be much larger al
the end of the next fiscal year Hel spoHt
of the surplus in the treasury ana &alo
h.. was proud of the record of his com
pany and no one could justly complain
of the dealings of his road Win 'he
State.
THE GUARANTEE.
Referring, to the proposition of his com
pany to guarantee the State u per cent
interest on it's holdings and the offer OF
the Seaboard to buy out the stock OF tilt
State, Major Myers said he was perfectly
willing to Leave the whole matter to thosi
who are charged with guarding the inter
ests of the Commonwealth.
President Williams asked Major Myers
If his contract would hold good IN ths
event his road should be paraiieleu bE
road that might be built under existing
charters.
Ma ioc Myers said he had looked into
the matter of the claim that the Chesa-
peakc and Ohio under the general cnaE-
ter, could build branch hiles Di my
miles in length. He had found that u,!der
the contract with the southern 70 use
tie tracks into Washington the Chesa-
peake and Ohio could not build such
road
AR Williams pressed Major Myers for
on answer to the question as to whether
or not the guarantee would hold good II
s,,ch a road should be built.
Major Myers replied with an emphatic
,, NO
Mr.. WILLIAMS HEARD.
president Williams was the next speak
ar He gave a brief history Of the forma-
,,on of the Seaboard AIRLINE System and
of3the remarkable growth ofsits business.
| He stated that If the Richmond, Frede-
| rtoksburg and Potomac had entered into
an agreement with his company where
| by the Seaboard could run It's own trains
over the road to ouantico such an ar
rangement might have been comparative
/ ly satisfactory. But the Richmond,
| Fredericksburg and Potomac road. which
| he said. Is practically controlled by the
Atlantic Coast-Line, a rival of the Sea-
| boards, refused to enter into such an ar
rangement as the Chesapeake and Ohio
has with the Southern. The Richmond,
j -E,rederickshurs- -aud-PotouQac.,M ,Mas-sat tis=