The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-08-13

into birmingham. and are a part of the
Southern states situation. 1t does. how
ever emphasize the fact that all the great
railway systems are carrying out the
policy of more closely cementinE the
railway transportation interests OF the
country. which viii greatly rctard and
ii is icped entirely prevent demofal!za-
tion of rate situation or the unnecessary
construction and duplicating OF properly
Attention Is called TO the fact that WIN
the discbntinuance VI any further con
seruction by the Soabnard Air Line, the
value OF tho properties are greatly en-
HANGED. and another gratifying fact al
this time, and which is further evidence
of tho future disposition of the railways
OF the United states in that this deal does
not call for any financing or suPPiFA'iS
OF now money"
I'VE can state on highest authority t1n'
the Scaboard management VIII remain
as It Is at present.
The New York News Bureau senos gu.
the following authoritative statement u
the transaction and its effects:
.we can state upon authority that
large amount of stock of the Seaboard
Air Line Railroad Company has been ac-
ouircd by friendly interests. The cohtroi
OF the road is TO remain where 1t is alter
presumption that the property VIII DC
operated In afiliation with the ST Louis
and San Francisco road, which, In turn,
is controlled by the Rock Island, Connec-
tion with the st. Louis and san FRANCISCO
is made at Birmingham, Ala Peorie iden-
titled With the deal are confident that II
Is going to adjust many difficulties. and
that it will insure the amicable operation
Of all the southern roads"
The present Seaboard Air Line Railway
system Is the result of the consolidation
or merger of twenty or moro separate
railway companies extending from ram
pa. Fla, on the south, to Richmond, Va,
and Washington. D. c.. on the north. and
also from Tallahassee and montgomery
ana Birmingham on the southwest TO
Savannah. Wilmington and Norfolk on
the Atlantic coast.
The Seaboard Air Line also reaches sai-
timore through ownership Of the entire
capital stock OF the Baltimore Steam
Packet Company.
Mr.. John Shelton Williams career IN |
the railroad world commenced with the
reorganization OF the old Savannah, |
Amerlcus and Montgomery. which was
reorganized into the Georgia and Ala
hama Railway in 1885. Later, in 1888, Mr.. |
Williams and his associates secured con- |
troll of the Seabonrd and Roanoke and |
the Raleigh and CASTOR dhe two parent
companies or the old Seaboard SYSTEM |
FOR the control of which Thomas II. Ryan
waged memorable Ave years battle. |
Mr.. Villains and associates having con-
troll Of the Georgia and Alabama Railway |
and the smaller Seaboard system. then |
acquired control of tho Florida Central |
ard Peninsula by purchase from the |
Messrs Cutting Of New York. BY the
building of total Of about two hundred |
miles of new road the present Seaboard |
Air Line Railway system Of 1900 miles
+o1 'Io "a Of tho Ea st |
and West Railway and the building of
few additional miles gave the system
entrance into Birmingham. the PittsburE
OF the South.
The entrance OF the Seaboard into
Washington was secured by the purchase
OF a one-sixth interest In the Richmond
Washington Company, in joint partner
ship with the Pennsylvania Railway. tn"
Baltimore and Ohio Railway, the Chesa-
peake and Ohio Railway, the Atlantic
Coast Line Railway and the Southern
Railway.
The stock Of the seaboard Air Line
Railway consists Of s1900o,0oo of prefer
red four per cent. stock and $4,000 ,0Oo or
common stock, total of s4S, 100000. The
stock Of the system Is largely held in
Richmond. but principally by parties who
have held it for permanent investment
and not for speculative purpose 1t Is
Principally hold In largo blocks. For the
past three weeks large amounts or this
stock have changed hands daily on the |
Baltimore Stock Exchange. on some days |
the sales aggregatng over 5000 shares |
per day. and it is believed by some that
this accumulation of stock was to facii-
tate and carry into effect tho transaction
announced to-day. Just what proportion |
OF the total capital stock Is held in this
city could not be ascertained, but !: is
known that the local holdings are by |
comparatively small number Of persons.