The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1903-11-26

1nOmaS F. Ryan, New Ofk.
John \. Blair, New York.
J. William Middendorf, baltimore.
S. Davies Warfeld. Baltimore.
James H. Dooley, Richmond, Va.
{. Sidney Shepard, New Haven,
Conn.
J. NJ. Barr, Norfolk, Va.
Ernt Thalman, New York.
b. +. IOakum. New York.
H. Clay Pierce, St Louis. Mo.
Oakleigh Thorne, New York.
Norman B. Ream, Chicago.
T. jefferson Coolidge, Jr., Boston.
Nathaniel Thayer, Boston.
WHAT PRESIDENT WILLIAMS SAYS.
President John SHELTON Williams,
Of the SeabOard, after the meeting,
said:
"The proposition made by Mr.. S.
Davies Warfield, president of the Con-
tinental Trust Company OF Balti-
more Nd, on behalf of Mr. Thomas
+. Ryan, Messrs Blair & Co., and the
Old Colony Trust Company Of Bos-
ton, and presented by him to our di-
rectOrs, has been unanimously ac-
cepted, and has received in the e!ec-
ton of Il board of directors satisfac-
ton to all the interests concerned.
The entrance into the manage
ment of the company of Mr.. Thomas
f. Ryan, Messrs Blair 4 Co., and
the Old Colony Trust Company Of
Boston. in conjunction with Laden
burg, Thalman 4 Co., and their as
sociates, marks Il new era in Sea-
board affairs and will place this COM
pany in an enviable position both as
to financial support and able. vigOr-
Gus direction.
In connection with the negOtia-
tons leading up to the successful
conclusion reached today Mr.. War
field has PLAYED Il most important
part. | think it is due to him to say
that he has rapidly and successfully
accomplished the most important
| piece of work of this kind that has
been done III years. SO far as my
knowledge goes. 1t was Mr. Warfieid
who first saw Mr.. Ryan. entirely
| without my knowledge and who af-
terward brought Mr.. Ryan and my
self into negotiations, with the sue
| cessful results which have Just been
accomplished Mr.. Warfeld perform
| ed a great service to the city of Bal
timore and the South, and | am glad
that he will take his old place on our
| board OF directors, our executive com
| mittee 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.
''At the time of the formation OF
the syndicate of which Messrs. Laden
burg. Thalman ( Co. are managers,
the Seaboard obligated itself to fur
nish out of its treasury, in addition
to the proceeds of the sale of the So,
600, 900 bonds on the Atlanta and
birmingham division. an amount sui
| ticient to complete this extension. and
| this has now been done;
MIR. WARFIELD's STATEMENT.
Mr.. S. Davies Warfeld gave out
the following statement:
There is little to add to what has
been announced. felt that the sue
cess of the SeabOard Air Line would
be immensely increased by alliances
which would bring the best and stong.
est financial support to the road in
connection with broad and cOnserva.
tive management. Recognizing that
this would be largely accomplished
by enlisting the active interest of Mr.
Thomas F. Ryan in the property.
saw that gentleman several weeks ago
and discussed the matter with him
He expressed himself as willing to
take up and discuss the matter, pro.
vided that the plan would have the
cordial support and cooperation OF
| President Williams.
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 its present
state of prosperity He said dis
tinctly that, although the Seaboard
was an interesting subject to him, he
| should not care to consider any prop
Osition in connection with it unless
it was agreeable to Mr.. Williams and
| with view to cooperation with
him IN the property.
Il then saw Mr. Williams. who, re-
alizing the benefit which would result
from 1t to the interests which he rep
resented. his friends and the Seaboard
| generally. by such an alliance. prompt
ly gave his cordial approval to my
suggestions in this connection, and
expressed not only Il willingness. but
a desire to have Mr. Ryan and his
friends largely interested in the Sea-
board Air Line and in its manage
ment.
MIR. Ryan associated Messrs. Blair
X Co. with him and an agreement was
reached. In order that all interest Is
should work in harmony, Messrs.
Ladenburg. Thalman & Co. and Mr..
l.. Jefferson Coolidge. Jr., who had
made an offer of a loan to the COM
pany, were conferred with. and as a
result a proposition was agreed to
which | had the pleasure of submit
ting to the board of directors of the
company, and which has just been
unanimously approved