The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1903-11-20

New York, November 1S.-Blair & Co., |
Thomas F. Ryan and T. jefferson Coo
lidge. Jr have agreed to loan the Sea-
board Air Line railway the amount of
money deemed necessary by the officers
of that company to pay off its floating
debt and 10 complete the Birmingham
Atlanta extension. In pursuance of this
understanding all interests represented
in the property agreed upon the follow
ing directors who were elected at
meeting this afternoon:
John Shelton Williams, Richmond,
Va; Thomas F. Ryan, New York;
James a. Blair. New York; ]. William
Middendorf. Baltimore; S. Davies
Warfield. Baltimore; James F. Dooley,
Richmond: c. Sidney Shepard, New
Haven; j. NJ. Bard, Norfolk. Va; Err
nest Thalmann, New York; B. f.
Toakum, New York; H. Clay Pierce,
ST. Louis; Oakleigh Thorp, New York;
3. F. Yoakum, New York; Norman 3.
| Ream, Chicago; T. Jefferson Coolidge,
Jr., Boston. and Nathaniel Thayer,
| Boston.
| The Seaboard Air Line will continue
| to be operated entirely as al indepen-
dent President John SHELTON Will
lams Of the Seaboard Air Line said
after the meeting:
The proposition made by S. Davies
| Warfield, President of the Continental
Trust Company, of Baltimore, on bena ,
of Thomas F. Ryan, Blair & Co., and
the Old Colony Trust Company, OF
Il nil
and has resulted in the election Of a
board of directors, satisfactory to all
| the in .erests concerned. The entrance
into the management of the company
of Mr. Bryan, Blair and Com
pany and the Old Colony
Trust Company IN conjunctlo. with
Iadenburg, Thalmann & Co. and their
= lassOciates, marks new era in SeabOard
affairs and will place this company II
an enYiable position. both as to imam
cial support and able, vigorous dlrec-
| ton.
In connection with the negotiations
leading up to the successful conclusion
, reached today, Mr.. Warfield has play
| ed i most important part 1t was MT
| WarfieId who first saw Mr.. Ryan, en-
| tfrelY without my knowledge and Wh'
afterwards brought Mr.. Ryan and my
self into negotiations. with the successful
result which has just been accomplish
i ed, Mr.. Warfield has performed
great service to the city of Batlmor
and the South and l am glad that n
y will take his old place on our Doard o
directors. our executive cimmlttee an
on the voting trust.
} The financial arrangements whlc
IS the Seaboard Air Line railway has JUS
: perfected. provide among other thlns
/ for the amount required by tie conpd
nv to fully complete its line from Al
- Ianta TO Birmingham AS the tllhe
- the formation of the syndicate OF WHO
% I.adenburg Thalmann & Co are MAI
II ! ayers, the SeabOrd obligated ltSeh
~ furnish out of its treasury. in addlt1o
of to the proceeds OF the safe ol tie %
a coo 900 bonds on the Atlanta and Blrn
| ingham division. an amount sunlciei
~ n complete this extension, and this M
- now been done.
Mr.. WarfeId gave out the folloWiI
g statement:
~. There is little to add to what h;
n hoe, announced. I felt that the succe
tn OF the eaboard Air Line would DC III
il r7ensely increased by alliance Whl'
er yrouId bring the best and strongest
er ,arcial support to them in connect'
ne in board and conservative manageme1
III Recogizing that this would be large
~ accomplished by enlisting the active
" rerest of Thomas F. Ryan in the pro
no errv / saw that gentleman sever
les weeks ago and discussed the suoJe
lie with him. He expressed himself
it willing TO take up and discuss the ma
if Yer provided that the plans could ha
ed 1ha cordial support and the co-opera-i
All Of President Williams. He said that
"a recognized the great work Mr.. WlIlal
he had done for the South in the upbu
,ay ing of the Sea board Air Line syst
ard in bringing that property to
present state of prosperity, l then
rk. Mr. Williams who realizing the oen'
va which would result TO the mtere
which he represented, his fr!enSs
10y the Seaboard generally through 81
lhe an alliance, promptly gave his cor
nal approval TO my suggestions aEd
aIe pressed. not only a willingness, ou
desire TO have Mr. Ryan and his fre
- largely interested in the Seaboard