The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1903-08-20
Special Dispatch to Baltimore Sun.


NEW YORK, Aug. 12.-Once more
the railroad map of America has
been redrafted. The Seaboard Air
Line, it is stated by financiers here.
has lost it's identity as All indepen-
dent system, and the Rock Island
has emerged as the controlling inter-
est in the new ownership.
:. This most recent affiliatiOn, which
includes Il perfect understanding with
the Mexican Central, makes the con-
solidation by far the largest railroad
system Oh the Western Hemisphere,
having a voice in the policy govern
ing IA 400 miles OF railroad and
gives it entrance to the great cities
of the Atlantic seabOard.
New interests which are now affili-
ated with the Seaboard are the st.
Louis & San Francisco Railroad,
owned by the Rock Island; the MeNi-
can Central Railroad and Ladenburg,
Thalman & Co., bankers. who repre-
sent the new interests III the SeabOard
and are also the fiscal agents of the
Mexican Central.
At a meeting OF the directors OF the
Seaboard Air Line later the resiona-
tiOns as voting trustees of J. William
Middendorf, Robert c. Davidson and
S. Davies Warfield, all OF Baltimore,
were received, and the designations
as directors of S. Davies Warfieid,
Robert C. Davidson, f. B. Addison,
OF Richmond. and F. r. Pemberton,
of New York, We're accepted.
The new board of directors as
elected consists of John Shelton Will
liams, j. NJ. Barr, c. Sidney Shep-
perd, Ernest Thalman, 3. S. GUM
ness, F. B. Van Worst, B. F. Yoakum,
H. Clay Pierce, Oakleigh Thorn, Geo.
W. Watts, William A. Marburg,
James Fl. Dooley and J. William
Middendorf
The new voting trust, which will
not terminate until 1910, consists of
John Shelton Williams, B. S. GUM
ness. c. Sidney Shepperd, B. F,
Yoakum, H. Clay Pierce, Oakleigh
Thorn, William A. Marburg and
James H. Dooley.
All of the preferred stock and all
except so shares OF the common
stock are deposited with the voting
trust. The management of the Sea-
board will not be changed.
In discussing the deal one OF the
men most vitally interested stated
that the Seaboard would be operated
as community of interest prop
erty. This community of interest
does not include the Southern Rail
way or the Atlantic Coast Line.
1t was thought that Mr.. Thorn
might represent the Southern Rail
way, as Samuel Spencer is a director
of the North American Trust Com
pany.
As if it possessed the magic touch,
the Moore-Leeds-Reid- Y oakum SYN
dicate has conjured into existence
the largest railroad property in
America The growth of the Rock
Island system has been the wonder
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 Bir-
mingham have been included, and
will now be connected i'll 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, Fred
ericksburg & Potomac, and has a
traffic arrangement with the Penn
sylvania for freight and passengers
which admits it to Baltimore, Phila-
delphia and New York. The Sea
board will connect with the Frisco
at Birmingham, Alabama.
A close alliance also exists between
the Rock Island and Mexican Cen
tral. One of the bankers who nego-
tiated the SeabOard deal and is also
interested in Mexican Central financ-
ing said that it would be no surprise
| if the Rock Island should use part oi
it's proposed S25O,OOO,OOO bond
issue for the acquisition of the Mexi
can Central.
Another account says
New YORK, Aug. 12.-Announce-
ment that the Seaboard Air Line
had passed practically into new hands
was made to-day by Ladenburg,
Thalman & Co., who issued a state
ment showing that interests repre-
senting the Rock Island and St. Louis
& San Francisco had secured repre-
sentation in the Seaboard directorate
and board OF voting trustees. The
official statement was as follows:
"Ladenburg, Thalman & Company
announce that they have completed
negotiations whereby new aud inn
portatnt interests have become iden-
titled with the Seaboard Air Line
Railway Company. B. F. 1oakum
and H. Clay Pierce and B. F. GUM
ness, of Ladenburg, Thalman 4 Com.
pany, and Okleigh Thorn, president
OF the North American Trust Com.
pany, have been elected voting trus.
tees OF the Seaboard Air Line Rail
way
President John Shelton Williams
also announces that B. F. Yoakum