The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1903-08-17
SEAB0ARD SYSTEM SC00PED
BY ROCK ISLAND X FRISCO

cally into new hands, was made today BY
Ladenberg. Thalman & Company, who
issued a statement, showing that inter
ests representing the Rock Island and
st. Louis and San Francisco had Sc
cured representation in the SeaboArd di-
rectorate and board of votin. trustees
The official statement was as follows:
Ladenberg, Thalman G. Company an
nounce that they have completed nego-
tiations whereby and inporta Mt
interests have become identified with the
Seaboard Air Line Railroad Company.
IS. t. Yoakum and H. Clay Pierce and
B. F. Guinness. of Ladenberg. Thalman
e. Company, and Okleigh Thorne presi
dent of the North American Trust Com
pany. have been elected voting trus-
tees OF the Sea board.
President John Shelton Williams aisc
announces that B. f. Yoakum, H. Clay
Pierce. Okieigh Thorne and S. B. Van
worst have been elected directors of the
Seaboard Air Line railway
~The change Of personnel of voting
trustees OF the stock OF the Sea5oard
Air Line Company does not mean the
purchase of the company by Rock Isl
and or Frisco interests, although the
Frisco lines extend into Birmingham and
are part of their southern system. II
does, however, emphasize the fact that
ali the great railway systems are car
rying out the policy of more closely ce.
mentipg the railway transportation IN
terests OF the country which will great
Is retard. and. it Is hoped, entirely pre-
vent Generalization of the whole situa-
tlon, or the unnecessary construction and
duplication Of property.
Value Enhanced.
Attention Is called TO the fact that
with the discontinuance of any further
construction by the Sea board Air Line.
the value of the properties are greatly
enhanced. And another gratifying fact
al this time, and which is further evil
dence Of the future disposition of the
railways of the United States. is that
this deal does not call for any financing
or any supplying of new money"
one Of re roftns trustass-s sassa aslkat
to state The real Significance of the oeiai'
said that II meant a better understand
ing among interests That nave at various
times coufiicted."
The policy of the Seaboard Air Line
FOR long time was one of absolute i'll
dependence, SO much as 10 make II
al times inlm.cal to the interests Of OPP
po sing roads traversing adjacent terri
Tory. Todays developments it is thought.
will do away with such trouble in ths
future
The new directors take the places Of
F r. Pemberton. OF this city; r. c.
Davidson. Baltimore; E. r. Addison,
Richmond. and w. W. Myckall, Sd
vannah
3. f Yoakum one Of the now d.
'ectors. is president OF the St Louis and
San Francisco road. for which Morgan
6 Company are fiscal agents
The difference between the so-called
Morgan interests represented by the
Southern railway and the Seaboard Air
Line people during the last few years
has beer sharp one. The effort OF
Thomas r. Ryan and his associ ties to
get foothold in the seaboard. or as
eorne suggested. control Of that company.
was accompanied by rumors al the time
that he was acting IN the interest of the
Southern. but this was denied
Seaboard and louisville
The laws OF some or the southern states
expressly preclude one company from
controlling competing road. This rem
dered 1t impossible FOR Mr.. Morgan 10
turn the Louisville and Nashville road
over to the Southern. Instead Of that
1t went to the Atlantic Coast Line.
The Seaboard made d strong bid for the
Louisville road and when 1t refused
even part ownership In it, 1t Init
mated that other alliances would be
p2ade, perhaps with the Gould people,
In contrast with the old-time rate cut
ting which the Seaboari INDUCED In, 1t
has been significant that in recent years
1t had a sort OF silent understanding to
maintain rates, so that all OF the yail
roads in southern territory would be able
20 get as much profit out of their traffic
possible.
The Seaboard Air Line Railway Com
pany, operating 2.611 miles Of road. was
formed under the laws Of Virginia IL 1910.
to succeed the old Richmond, Petersburg
and Carolina railroad. The system now
extends from Richmond Va, to Tampa.
Fla. with connections extending west
TO Montgomery and to Birmingham by
way Of Atlanta, and east to Charleston.
Wilmington and Norfolk. Under n traf-
to agreement with the Pennsylvania rail-
road, through passenger and freight
ssrvjce Is maintained between Washing
ton and New York
The Seaboard Air Line also owns the
Bay Line Steamship Company opera ting
from Baltimore 10 Norfolk.
President Williams Makes Statement
At the special request Of The Constitu-
ton John Shelton Williams, president Of
the Seaboard Air Line, at New York
wired the following statement for The
Constitution:
New York. August 1S.-Atlanta Consti
tuition, Atlanta Ga. AS result OF ne
eotiations which were consummate(
through I.adenburg. Thalmann 81 Co.
bankers. Of this city. new and impottan
interests have become identified with tn
Seaboard Air Line railway and have be
come interested in It's stock. The proper
* has not changed hands and majority
Cf the interest has not been sold IN
rev directors just elected are B. F. Yoa
KUN. II. Clay Pierce. b. s. Guinness, o
Iadenburg. Thalmann & Co; Oakley
Thorne. president Of the North American
Trust Company. of this city, and f.
VanVorst -,
John Shelton Williams and James IT
Dooley, of Richmond; c. Sidney Shepafo
of New York; Ernest Thalmann, OF Ne'
York: William A. Marburg. of Baltimore
George w. Watts. of Durham. n. G., an
lanes NJ Barr, Of Norfolk, va.
Messrs Yoakum. Pierce, Guinness an
,rhorne have also been elected members q
the board of voting trustees. the othe
voting trustees being John Shelton WI
uamI James II. Dooley, c. sidney shep