The times. [volume] (Richmond, Va.) 1890-1903, 1900-02-20
WILL LIKELY BE BLOCKED.
Scheme for the Consolidation of Sew
cral Roads Into Scahnard Air Line.

cral Roads Into Scahn;lrd Air Line.
The following is the New York HeraId's
article to which MIR. Williams had refer
ence:
ut is likely that the scheme for the
ccnSo!iuttlon of several Southern raiI
roads into the Greater Seaboard Air Line
organization, supposed to have Eeen final
iy conSummated by the Baltimore contin-
gent headed by John iSkelton Williams,
will be blocked by General Samuel Thom-
as, Edwin Gould and their allies now in
control OF the Produce Exchange Trust
Company or this city
..It was ANNOUNCED only few days ago
that the Williams contingent had sue
.cessfully st:ilcd all opposition to its p,ans
opposition that has been aggressive for
several -l.onthS--and its consolidation
scheme was declared operative But the
Produce Exchange Trust Company, which
owns 4 large slice of the syndicate in con-
troll of the present Se1board Air Line
system, now turns out as an obstacle
to the carrying out of the plan. General
Thomas, speaking for the Trust Company.
yesterday, declared that it is considered,
altogether unfair to stockholders to sup
port the Williams proposition, ana that
until the company parts with its share
OF the Seaboard syndicate it will stand as
an obstacle to the consolidation.
Mr.. Williams and some of his asso-
ciates n the deal will meet NIesSrs. Thom-
as and Gould tomorrow or on Tuesday.
and they will then learn that their Sea-
board scheme is regarded Us high-handed
and that they will have 4 long fight with
the Produce Exchange Trust interests to
carry it through. Particular stress is put
by the objectors, on the prominence in
the consolidation scheme of the Continen-
tai Trust Company, of Baltimore. which.
it is intimated, has been brought into
the affair in much the same way as the
Produce Exchange Trust before the col
lapse was loaded with a part OF the Sea-
beard Air Line syndicate.
THE PLAN.
Briefly stated. it is the plan of the
Williams contingent, TO consolidate the
Seaboard Air Line. Florida Central and
Peninsular, Georgia and Alabama. Ches-
aerfield end kersflaw and Richmond,
Petersburg and Carolina Railroad sys-
TENS and the Georgia and Alabama Ter
rninal Conlpany's properties into the
Greater tSeaboard Air Line System.
The several syndicates now controlling
these properties are invited 70 exchange
il.eir holdings fcr certificates in the
greater company and to sign an agree
mont which puts their interests into the
hands of a Managing Committee. COM
posed o. President Williams and sfNl OF
his frie d !, among them Is s. Davies war
field, president OF the Continental trust
z Company OF Baltimore
Under the agreement this committee
has unlimited power to do whatzit may
please for a period of ten years. which
period may be extended Syndicate inter
3esss who gn the agreement Virtually enter
into 2 co-partnership with the committee
\ IN the management of which they have
no say. while the committee has power to
go into debt on the credit OF the rail-
roads to any extent which II. may con-
slider necessary for the carrying ouc or
the consolidation scheme
.sTrts Is ttle4part of the plan to which
the Produce Exchange Trust Company
makes strenuous objections. The conn
:pany. is interested in the syndicate now
in control of the Seaboard Air Line sys-
TEN TO the extent OF something like ST.
isUO, GOO. President Williams, of the Sea-
board. is a director OF the trusH company,
4ailt. IS said to have induced its mana
gers, before the recent collapse. to go