The Montgomery advertiser., 1903-11-19
RYAN IN THE SEABOARD
WITH OTHERS HE PUTS $3, ,5oo,. 900.
Money to Be Used in Completing
 Extension From Birmingham to Atlanta-Willaims Ex- plains Arrangements.

| New York Nov. 18-Blair and Company,
 Thomas F. Ryan and T. Jefferson Cool | idge, 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 Hosting debt and to complete the Birmingham | Atlanta extension. In pursuance of this
 understanding all interests represented in
 the property agreed upon the following | directors who were elected at meeting this afternoon:
 John Skelton Williams, Richmond, Va; {;
 Thomas r. Ryan. New York; James A. Blair. New York; J. William MidCsen-
 dorf, Baltimore; S. Davies Warfield, Bal | timore; James F. Dooley. Richmond; C.. | Sidney Shepard, New Haven: J. M. Barr.
 Norfolk. Va; Ernest Thaelmann, New
 York; B. F. Yoakum, New York; H. Clay
 Pierce. St. Louis; Oakleigh Thorpe. New
 York; Norman B. Beam, Chicago; T. Jeff
 ferson Coolidge, Jr., Boston, and Nathan- iel Thayer, Boston.
 The Seaboard Air Line will continue to
 be operated entirely as an independent
 line. President John Skelton Williams of
 the seaboard Air Line said after the meet | ing:
 sThe proposition made by s. Davies | Warfield President of the Continental
 Trust Company of Baltimore, on behalf of Thomas F. Ryan, Blair and Company
 and the Old Colony Trust Company of Boston. has been unanimously accepted and has resulted in the election of a board of directors satisfactory to all ths interests concerned. The entrance into the management of the company Of MT. Ryan, Blair and Company and the Old Coloney Trust Company in conjunction with Ladenburg, Thalmann and Company | and their associates marks new era In Seaboard affairs and will place this com pany in an enviable position, both as to financial support and able, vigorous di- rection.
 "In connection with the negotiations leading up to the successful conclusion reached today, MT. Warfield has played A most important part. It was MT. War field who first saw MT. Ryan. entirely without my knowledge. and who after ward brought Mir. Ryan and myself into negotiations with the successful result which has just been accomplished. MT. warfield has performed a great service to the city of Baltimore and the South and I am glad that he will take his old place on our board of directors, our exec utiye committee and on the voting trust
 "The financial arrangements which the Seaboard Air Line Railway has just ef- fected, provide among other things. Tor the amount required by the company to fully complete It's line from Atlanta to Birmingham.
 At the time of the formation of the syndicate of which ladenburg. Thalmann and Company are managers, the Seaboard obligated itself to furnish out of It's treasury, in addition to the proceeds Of the sale of the $6,0000 600 bonds on the Att lanta and Birmingham division, an amount sufficient to complete this ex- tension and this has now been done"
 MT. Warfield gave out the following statement:
 "There Is little to add to what has been announced I felt that the successes of the Seaboard Air Line would be im- mensely increased by alliances, which would bring the best and strongest finan- cial support to them in connection with broad and conservative management. Recognizing that this would be largely accomplished by enlisting the active in- terest of Thomas F. Ryan in the prop erty, I saw that gentleman several weeks ago and discussed the subject with him. He expressed himself willing to take up and discuss the matter, provided that the plans could have the cordial support and cooperation of President Williams He said that he recognized the great work of Mir Williams had done for the South in the upbuildin gof the Seaboard Air Line system and in bringing that property to its present state of prosperity.
 "I then saw Mir. Williams, who realiz- ing the bne1t which would result to the interests which he represented. his friends and the Seaboard generally through such an alliance. promptly gave his cordial ap- proval to my suggestions and expressed not only a willingness but desire to save MT. Ryan and his friends largely interest ed in the Seaboard Air Line and in its management. MT. Rryan associated Messrs Blair 6 Co.,, with him and an agreement was reached, In order that all interests should work in harmony, LadenbGrg, Thalmann & Co.,, and T. Jeff ferson Coolidge, Jr, who had made an offer of a loan to the company, were con- ferred with. and result a proposition was agred to which 1 had the pleasure of submitting to the board of directors of the company and which has just been unanimously approved"