The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1904-02-23
.SEABOARD MAKING
STEADY PROGRESS
John [. Williams & Sons lssLe
Interesting Statement
MANY FACTS AND FIGURES
seaboard Air Line Railway Is Essen
TALLY Southern Institution, 80 Per
Cent of Stock Being Held In
Maryland and the South.
MANY FACTS AND FIGURES

& Sons of Richmond, Va, has just issued
circular statement concerning the own
ership and present condition and pros
poets of the Seaboard Air Line system
which Is of exceptional interest to large
section of the south. Not only are facts
and figures about the Seaboard assem-
bled In succinct form, but great deal OF
valuable information about the country
which the road serves is also set forth.
The circular begins by saying:
THE seaboard Air Line railway system
is essentially a southern enterprise con-
ceived and built up by southern men with
| southern capital. Baltimore, southern
community, has done more for the estab-
Hshnent and for the success of this road
than any other city. Her capitalists and
her institutions have invested many mill
lions of dollars in its securities. and her
merchants and manufacturers have been
among its chief and most liberal patrons.
''The stock of the seaboard Air Line
railway Is well distributed among more
than 100 shareholders. and of these 100
shareholders 80 per cent of them reside
in Maryland and other southern states.
| OF the remaining 20 per cent considera-
BILE number reside In adjacent territory
in Pennsylvania, New Jersey and Della
| ware.
Baltimore interests.
"Approximately 70 per cent, in amount,
OF the entire capital stock Is owned by
the people of Baltimore and the south.
While there are some very large individ-
ual holders Of stock, the average amount
owned bv each holder is something less
than 500 shares.
New and very strong financial inter-
ests have recently become identified with
the property, and 1t will be gratifying TO
the southern interests to know that Mr..
Thomas f. Ryan, native Virginian'
whose most successful career may be re-
ferred to with pride by his fellow citi-
zens is now prominent among those
directing the affairs of this system.
prior to the panic of last summer. re-
peated efforts had been made by several
different interests to induce the men who
controlled the Seaboard system to con-
sent to its SALE and strong inducements
were offered without avail.
TN declining to sell, the owners Of the
property have heretofore been influenced
by two principal considerations:
First, strong conviction of the future
outcome of the development and growth
of the property, which has led them to
| feel that their investment In the Sea-
board Air Line railway offered better re-
turns than anything else in sight;
Second, their earnest desire to see the
Seaboard Air Line system maintained as
an absolutely free and Independent prop
erty, so as to secure to the southern peo-
pie the benefits and advantages of health
full competition.
I'VE are happy to be able to assure the
public that the Seaboard Air Line Is still
absolutely free and Independent, and we
do not believe the Southern railway or
the Atlantic Coast Line, or any other
competing line owns any stock whatso-
ever in this property"
Seaboard's Mileage.
The extent of the Seaboard system, in
Guiding the Atlanta and Birmingham Air
line, now nearing completion, Is 2S1e 81
miles.
The system extends from Richmond and
from Norfolk and Portsmouth, Va. Will
nington. N. c., Savannah. Ca. Jackson
Vile and Fernandina, Fla, on the Allan
tic; to Birmingham and Montgomery,
Ala, in the southwest and Tampa, Fla,
on the gulf.
It reaches with its own rails the capital
cities of six southern states, towit: Rich
mond Va, Raleigh N. c., Columbia, s.
c., Atlanta, Ga, Montgomery, Ala, and
Tallahassee, Fla, and in addition such
important points as Norfolk. Petersburg
and Portsmouth, Va Wilmington, Dur
ham, Henderson and Charlotte, N. c..
Camden, Chester Abbevi1le. s. c., Sa-
vannah, Columbus. Americas. Albany and
Athens, Ca, Fernandina. Jacksonville.
Tampa and Orlando, Fla
The Seaboard Air Line railway controls,
through stock ownership. as stated in the
circular, several additional branch lines
and feeders. whose operations are kept
separate and not included In the earnings
of the Seaboard Air Line railway, but
whose mileage together with that Of the
Atlanta and Birmingham railway, If add
ed to the 2611 miles operated January l,
1904. and to the Richmond Washington
line Jointly owned lis miles. will give the
system a total of more than 5000 miles.
The Seaboard Air Line railway owns
one-sixth interest in the company con-
trolling the line from Richmond to Wash
ington, and has equal rights over that line
with the other owners so that system
really may be said to commence at Wash
ington, D. c. Its trains run through to
Jersey City over the lines of the Penn
sylvania railroad on the same terms as
those of the other southern trunk lines
The Seaboard Air Line railway is the
shortest and most direct route from New
York, washington and Richmond to Flor
ida.
The distance between Atlanta and Bir-
mingham by the Seaboard is stated to be
1877 miles, with comparatively easy grades
The Seaboard also owns the Baltimore
steam Packet company, operating an i'm
portant line of boats on the Chesapeake
bay between Baltimore and Norfolk thus
constituting direct line of transportation
from Baltimore to Birmingham and to the
i extreme southern section of Florida.
Concerning Capitalization.
Under the head of capitalization the
Messrs. Williams point out that the Sea-
board Air Line is one of the most con-
servatively bonded and capitalized rail-
road systems in the United States
In measuring and judging the value OF
railroad bonds and stocks, among the