The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-12-12
OF THE SEABOARD
Interview With President
]. Shelton Williams.
On Friendly Terms With Other Roads
But Having No EniangIing
Alliances With Any of
Them.
Especial to News and Observer

Atlanta, Ga, Dec. 1.-President John
Shelton Williams of the Seaboard Air
Line Railway who has been on trip of
inspection over the company's lines for
the past ten days with President
and General Manager Barr, Directors
James A. Blair of New York and T. JEFF
ferson Coolidge, r., of Boston and other
officers of the company arrived in At
lanta tonight from Birmingham In re-
ply to a question as to his plans, Presi-
dent Williams said
This trip is for the purpose of giving
several of our new directors the oppor-
tunity of familiarizing themselves with
the Seaboard Air Line Railway, it's ply
sIcal characteristics and traffic conditions.
1he business of the Seaboard Air Line
railway at the. present time is limited
only by its rolling stock and its terminal
facilities. The earnings for the past
month have increased at the rate of SO GOO
per day over the same month last year.
1t is the intention of the present manage
ment to do whatever may be necessary
to enable this company to render tie
public the best possible service and at
the same time secure the best return
to the companys shareholders.
1.-THE stories which have been OCCASION
ally circulated rejecting upon the credit
OF this company are untrue. The Sea-
board Air Line systems holds in its treas
ury millions of dollars OF high class Sc
curities and its floating debt, which was
insignificant and amounted to about as
much as one months gross earnings, was
fully provided for under the arrangement
recently consummated with Messrs. Blair
and Co. and Thomas F. Ryan of New
York and the Old Colony Trust Co., of
Boston, which besides clearing up the So
celied floating debt provided this com
pany with a large amount OF money for
the prosecution of important works of
developments which are now in hand in
Guiding the funds required for the com
pletion of the extensive terminal at Biz
migham and for certain revision work
ON the old East and West railroad now
part of the Atlantic and Birmingham
Air Line Railway, the funds for the CON
struction of the latter having been pro
vided for more than six months ago by
the sale of six million dollars of Atlanta,
Birmingham four per cent bonds to Il
New York syndicate at IS and interest.
is being vigorously prosecuted end will
BE- rushed to completion as rapidly as the
/ six thousand men, one thousand mules,
and seventeen steam shovels now engaged
upon the work, can hurry it through.
The work is being pushed unrewittingly
day and night over the whole distance
and we expect to have our trains running
into Birmingham in the early spring.
THE financial position Of the Seaboard
Air Line Railway today is stronger than
il has ever been. The interests which
have recently been brought into the
lproperty-Messrs Blair and Co. and Thos.
f. Ryan of New York, T. Jefferson Cocl-
idge, Jr, of the Old Colony Trust Co.,
and Nathaniel Thayer of Boston and Nor =
man B. Eeam of Chicago stand at the
very top of the business and financial
world and are distinguished alike for
| their exceptional ability, conservative
methods and large resources. They have
taken a large interest in this propert ',
with Il view to devoting to it all the
time and attention, which it may require.
The stories to the effect that the South
ern Railway or the Atlantic Coast Line
were financially interested in the arrange
ments recently contaminated in connec
ton with this property are utterly un-
true, and until they read of it in the
newspapers neither Mr. Spencer, Mr.
Morgan nor Mr. Walters knew anything
about the transaction which was nego
tiated by president Warfield Of the Con
tinental Trust Company of Baltimore and
myself.
Il will take this occasion also to get. at