The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-08-14

who made an assignment last week, had
been already acquired by Ladenburg, Thai
man & Co. To this were added extensive
holdings of Southern interests represented
at the conference.
The price agreed upon for the voting
trust certificates, representing the prefer
red and common stock of the Seaboard, Is
understood to have been about 500 for the
common and $35 or $40 for the preferred
At a meeting of the directors Of the
Seaboard Air Line later the resignation
as voting trustee of ]. William Middendorf,
Robert G. Davidson and S. Dawes War
field, all of Baltimore, were received and
the designations as directors of S. Davies
Warfeld, Robert c. Davidson, E. B. Add
son, of Richmond, and F. R. Pemberton,
of New York, were accepted.
The new board of directors as elected
consists of John Shelton Williams, j. NJ.
Barr, C. Sidney Shepperd, Ernest Thai
man. B. S. Guinness, F. r. Van Worst,
B. F. Yoakum, H. Clay Pierce, Oakleigh
Thorn George w. Watts, William A. Mar
burg, James H. Dooley and j. William
Mddendorf
VOTING TRUST UNTIL 1910.
The new voting trust, which will not
terminate until 1910, consists of John Skel-
ton Williams, B S. Guinness, c. Sidney
| Shepperd, B. F. Yoakum, H. Clay Pierce,
Oakleigh Thorne, William A. Marburg and
James H. Dooley
All Of the preferred stock and all except
! fifty shares Of the common stock are de-
posted with the voting trust. The man
agement of the Seaboard will not be
changed.
In discussing the deal, one of the men
most vitality interested stated that the
Seaboard would be operated as a "com-
munity of interest" property. This "com-
m"nity of interest does not in ,lIde the
Southern Railway or the Atlantic Coast
Line
| 1t was thought that Mr.. Thorne might
represent the Southern Railway, as Sam
uel Spencer is a director Of the North
American Trust Company.
| AS if it possessed the magic touch, the
Moore Leeds Reid Yoakum syndicate has
conjured into existence the largest rail
road property in America. The growth of
the Rock Island system has been the won
der of the railroad world. BY successive
| leaps over an apparently bottomless chasm
Minneapolis and st. Paul on the north
| have been joined by one great system with
| New Orleans and Galveston on the Gulf of
Mexico; Denver and Ell Paso, Kansas City
and st. Louis Memphis and Birmingham
have been included, and will now be con-
nected in one system with all the leading
Atlantic ports in the South and with
Washington, Baltimore, Philadelphia and
New York, for the Seaboard Air Line
owns a one-sixth interest in the Old Do
minion Steamship Company, a one-sixth
interest in the Richmond, Fredericksburg
and Potomac and has a traffic arrange
ment with the Pennsylvania for freight
and passengers, which admits it to Balti-
more, Philadelphia and New York The
Seaboard will connect with the Frisco at
Birmingham, Ala.
| A close alliance also exists between the
Rock Island and the Mexican Central.
One of the bankers who negotiated the
Seaboard deal and is also interested in
Mexican Central financing said that it
would cause no surprise if the Rock Island
should use part of its proposed $3.50, O00, 900
bond issue for the acquisition of the Mexi-
can Central.