The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-11-20
THE LOAN BY RYAN
AND BLAIR TAKEN.
These Gentlemen Elected TO
Seaboard Directorate.
A NEW ERA INAUGURAIED
Saiem ms by J,hn SksIto1 William; and S.
Davies Waifieid on Sign ficancs Of
the Changes Eff c'ed at the
Meeting Of Directors.
(By the Associated Press.l

10y the ASSOcldtoQ ITeSS.D
New York, Nov 1S-Blar and Company
Thomas F. Ryan and T. Jefferson Coolidge,
Jr., have agreed to loan the Seaboard
Air Line Railway the amount of money
deemed necessary by the officers of that
company to pay off its floating debt and
to complete the mingham-Atlanta ex-
tension. In pursuance of this understand
ing all interests represented in the prop
erty agreed upon the following directors
who were elected at a meeting this after
noon John Shelton Williams, Richmond,
Va; Thomas r.. Ryan, New York; James
A. Blair, New York; ]. William hidden
dorf, Baltimore; =. Davies Warfeld, Bal
timore; James F. Dooley, Richmond; c.
Sidney Sheppard New Haven; ]. NJ. Barr,
Norfolk, Va; Ernest Thalman, New
York; B. f. Yoakum, New York; H. Clay
Pierde, st. LOUIS; Oakleigh Thorp, New
York: Norman B. Ream. Chicago; T.
Jefferson Coolidge, Jr., Boston, and Ma
thamel Thayer, Boston.
The Seaboard Air Line will continue
to be operated entirely as an independent
line. President John SHELTON Williams,
of the Seaboard Air Line, said after the
meeting:
"The proposition made by S. Davies
Warfieid, president of the Continental
Trust Company, of Baltimore, on behalf
OF Thomas +. Ryan, Blair and Company,
and the Old Colony Trust Company, of
Boston. has been unanimously accepted
and has resulted in the election of a
board of directors satisfactory to all the
interests concerned. The entrance into
the management of the company of Mr.
Ryan, Blair and Company, and the old
Colony Trust Company, in conjunction
with Ladenburg. Thalman and Company
and their associates, marks new era
in the Seaboard affairs and will place this
company in an enviable position. both as
to financial support and able vigorous di-
rection.
''In connection with the negotiations
leading up to the successful conclusion
reached today, Mr.. Walfeid has played
most important part. It was Mr.. War.
field who first saw Mr.. Ryan, entirely
without my knowledge and who alter
wards brought Mr.. Ryan and myself into
negotiations with the successful result
which has just been accomplished. Mr..
Warfield has performed great service
to the city of Baltimore and the South,
and / am glad that be will take his old
place on our board of directors, our ex-
ecutiye committee and on the voting
trust.
The financial arrangements which the
Seaboard Air Line Railroad has lust per-
fected provide among other things for the
amount required by the company to fully
complete its line from Atlanta to Blrming-
ham.
4 cf fl,n
syndicate, of which Ladenburg, Thalmann
e. Company are managers, the Seaboard
obligated itself to furnish out of its treas
ury, in addition to the proceeds of the
sale of the 5000, coo bonds on the At
sufficient to completes this extension, and
this has now been done.
Mr. Warield gave out the following
statement:
There is little TO add to what has been
announced. | felt that the success OF the
Scaboard Air Line would be immensely
increased by alliances which would bring
the best and strongest financial support
to them in connection with broad and
conservative management. Recognizing
that this would be largely accomplished by
enlistng the active interest of Thomas
+. Ryan i'll the property. l saw that gen
tleman several weeks ago and discussed
the subject with him. He expressed him
self ais willing to take up and discuss the
matter provided that the plans could 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 up-building
of the Seaboard Air Line system and III
bringing that property to its present state
of prosperity then saw Mr.. Williams,
who. realizing the benefit which would
result TO the interests which he represent