The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-11-19
new BOARDOF SAL.
RLAIR, RYAN AND COOLIDGE LOAN
MONEY AND ARE DIRECTORS.
EVERYBODY NOW SATISFIED
AND THE ROAD is EXPECTED TO
RUN SMOOTHLY.

hhSht saying everything is har-
mOniOus-Says MIR. WarfeId Is to
Be Thanked for the Outcome of
the DeIiberatiOns-War Tells
How He Was Able to Bring the
Conflicting Interests Together.
New York, Nov. 1S-Blair & Co.,
Thomas F. Ryan and T. Jefferson
Coolidge, Jr., have agreed to loan the
SeabOard Air Line Railway the amount
of money deemd necessary by the of
ficers of that company to pay off its
floating debt and to complete the
NEUTRALITY-SUSPICIOUS. extension.
In pursuance of this understanding,
all interests represented in the prop
erty agreed upon the following direc-
tors, who were elected at a meeting
this afternoon: John Shelton Will
liams, Richmond, Va; Thomas F.
Ryan, New York; James A. Blair, New
York; j. William Middendorf, Balti-
more; S. Davies Warfield, Baltimore;
James F. Dooley, Richmond; C. Sidney
Shepard, New Haven; j. M. Barr,
Norfolk, Va; Ernest Thalman, New
York; B. F. Yoakum, New York; II.
Clay Pierce, st. Louis; Oakleigh
Thorpe, New York; Norman B. Ream,
Chicago; T. jefferson Coolidge, Jr.,
Boston, and Nathaniel Thayer, Boston.
The Seaboard Air Line will continue
to be operated entirely as an independ-
ent line. President John Shelton Will
liams of the Seaboard Air Line said
after the meeting:
What williams Says.
THE proposition made by S. Davies
Warfield president of the Continental
Trust Company of Baltimore, on be-
half of Thomas F. Ryan, Blair & Co.,
and the Old Colony Trust Company of
Boston, has been unanimously accept
ed and has resulted in the election of
board of directors satisfactory to all
the interests concerned. The entrance
into the management of the company
of Mr.. Ryan, Blair & Co., and the Old
Colony Trust Company, in conjunction
with Ladenburg Thalmann & Co, and
their associates, marks a new era in
Seaboard affairs, and will place this
company in an enviable position, both
as to financial support and able vigor-
Gus direction.
In connection with the negotiations
leading up to the successful conclusion
reached to-day, Mr.. Warfield has play
ed a most important part. 1t was
Mr.. Warfield who first saw Mr.. Ryan,
entirely without my knowledge, and
who afterwards brought Mr.. Ryan and
myself into negotiations with the
successful result which has just been
accomplished. Mr.. Warfield has per-
formed a great service to the city of
Baltimore and the South, and 1 am
glad that he will take his old place
on our board of directors, our execu-
tive committee and on the voting
trust.
THE financial arrangements which
the Seaboard Air Line Railway has
just perfected provide among other
things for the amount required by the
company to fully complete its line
from Atlanta to Birmingham.
cat the time of the formation of
the syndicate of which Ladenburg,
Thalmann & Co are managers, the
Seaboard obligated itself to furnish out
of it's treasury, in addition to the pro-
ceeds of the sale of the Sc, 900, 900 bonds
on the Atlanta and Birmingham divi-
sion, an amount sufficient to complete
this extension, and this has now been
done"
Statement from warheId.
Mr.. Warfield gave out the following
statement:
There is little to add to what has
been announced. I felt that the sue
cess of the Seaboard Air Line would
be immensely increased by alliances
which would bring the best and strong
est financial support to them in con-
nection with broad and conservative
management. Recognizing that this
would be largely accomplished by en-
listing the active interest of Thomas F.
Ryan in the property, 1 saw that gen.
tleman several weeks ago, and dis
cussed the subject with him. He eX =
pressed himself as willing to take up
and discuss the matter, provided that
the plans could have the cordial sup
port and cooperation of President Will
liams. He said that he recognized the
great work Mr.. Williams had done for
the South in the upbuilding of the
Seaboard Air Line system. and in
bringing that property to it's present
state of prosperity.
81 then saw Mr.. Williams, who real
izing the benefit which would result
to the interests which he represented,
his friends, and the Seaboard general
ly through such an alliance, prompt
ly gave his cordial approval to my
suggestions and expressed not only a
willingness, but a desire, to have Mr.
Ryan, and his friends largely interest
ed in the Seaboard Air Line, and in it's
management. Mr.. Ryan associated
Messrs. Blair & Co., with him, and an
agreement was reached. In order that
all interests should work i'm harmony,
Ladenburg, Thalmann e. Co, and T
Jefferson Coolidge, Jr., who had made
an offer of a loan to the company,
were conferred with, and as a result
a proposition was agreed to which l
had the pleasure of submitting to the
board of directors Of the company, and
which has just been unanimously ap-
proved"