The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1903-08-20

directors OF the SeabOard Air Line
Railway. Mr. YOakum is president
of the st. Louis & San Francisco
Railroad, for which company J. p.
Morgan eco. are fiscal agents. The
said:
"The change OF personnel of fvoting
trustees of the stock OF the Seaboard
Air Line Company does not mean the
purchase of that company by Rock
Island or Frisco interests, although
the Frisco lines extend into Birming-
ham, and are part of the Southern
situation. 1t does, however, empha-
size the fact that all the great rail
way systems are carrying out the
policy of more closely cementing the
railway transportation interests of
the country, which will greatly retard
and it is hoped entirely prevent de-
moralizatiOn of the rate situation,
Or the unnecessary construction and
duplication OF property. Attention
is called to the fact that with the
discOntinuance of any further con-
struction by the Seaboard Air Line
the value of the properties are great
ly enhanced, and another gratifying
fact at this time and which is further
evidence of the future disposition Of
OF the railways Of the United States
is that this deal does not call for any
financing of supplying of new mon
ey"
One of the voting trustees when
asked to state the real significance of
the deal said that it meant a ''better
understanding among interests that
have at various times conficted."
The policy OF the Seaboard Air
Line for long time was one of abso-
lutte Independence; so much so as to
make it at times inimical to the in
terests of opposing roads traversing
adjacent territory. To-day's devel-
opments, it is thought, will do away
with such trouble i'll the future.
The new directors take the places
of F. R. Pemberton, of this city; r. c.
Dawson, OF Baltimore; E. B. Addison
OF Richmond; and W. w. Mackall,
of Savannah.
The most important point in the
agreement between the Seaboard Air
Line and the st. Louis & Frisco III
terests is that which gives the latter
road an outlet to seven important
ports. These include Norfolk, Will
mington, Savannah, Charleston,
Brunswick, Fernandina, Jacksonville
and st. Augustine. Further down
the coast the Frisco road will have
an outlet at Cedar Keys.
The Seaboard Air Line system ex-
tends from Richmond, Va, to Tampa
Fla, with connections extending
| west to Montgomery and to Birm-
ineham, and east to Charleston,
Wilmington and Norfolk. Under a
traffic agreement with the Pennsyl-
vania road, a through passenger and
| freight service is maintained by
| Washington and New York. The
Seaboard Air Line also owns the
Bay Line Steamship Company, opera
| ting from Baltimore to Norfolk.
The Baltimore Sun. in it's news
columns, says this:
The deal by which Chicago, Rock
Island and Pacific interests have
secured representation in the Sea,
board Air Line results in one of the
largest railroad systems in the coun-
try. 1t is believed that existing
rivalry will be wiped out and that al
arrangement bordering on Il com
munity of interests will be made by
the Seaboard, the Southern and the
Atlantic Coast Line. The Gould
interests in the Southwest may joir
with the group.
The Seaboard Air Line has a tOtaI
mileage of 1900. extending from
Richmond and Norfolk to Jackson
vile and Tampa, in the South, and
Tallahassee, Montgomery and Allan
ta in the Southwest. reaching the
seaport cities OF Wilmington, n. C..
Savannah, Ga, and Fernandina, Fla
From Richmond to Washington il
uses the line OF the Richmond, Fred
ericksburg & Potomac, of which it is
one-siXth owner.
Since the consolidation OF the Sea
board roads about 26O miles of addi
tional new main line track have been
constructed at an expenditure Of the
sum of sc, 6,OOO,OOO. An extension is
now being built from Atlanta to Biz
mingham, Ala, which viii embrace a
part of the East and West railroad
of Alabama, now owned by the Sea
board. This, with other new lines
will give the Seaboard a mileage OF
about 5000.
The securities of the Seaboard are
largely held in Baltimore and the
South. The Seaboard acquired prac
tically all the stock of the Florida
Central and Peninsular Railroad and
of the Georgia and Alabama railroad
The old Seaboard Air Line system
was composed OF the Seaboard and
Roanoke, Raleigh and CASTOR, Raj
eigh and Augusta, Georgia, Carolina
and Northern, Carolina Central, Rich
mond, Petersburg and Carolina, and
other smaller corporations, IA il
number, in all of which the present
company holds more than nine-tenths
of the capital stocks.
The Seaboard Company has great
ly improved the physical condition
of the system and has also made
large additions to the equipment