The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-09-11

3: L|..,..AMES RY AN.
5si i 35l
Declares That They Sold Bonus
Shares in Order to De-
n IA press Stock.
@3s zaF ft
WOULD Y |, " ll.l DEMoRALlz Y PRICES
"a 55s5t AZ 81 S
Says Ryan-Blair Party Promised
Faithfully to Keep Them /.
Out Of the Marbet.
WOULD Y \. |. DEMoRALlzE PRICES

Out Of the Marbet.
Especial to The Times. Dlspatch.)
BALTIMORE. MD, Sept. io.-Mr. John
Shelton Williams, of Richmond, Va. chair
man OF the Hoard Of Directors OF the
seaboard Air Linz Railway Company. who
was IN Baltimore to-day, announced that
Messrs. J. William Middendort 4 CO. and
John u. Williams & Sons had completed
their deliveries to tho Ryan Blair syn
dictate OF l4o, 900 shares OF seaboard Air
Line Railway stock, tho amount OF stock
delivered being $4,000 shares Of the pre-
ferred and S75, 900 shares OF common stock.
Mr.. Nv illatnB ACCUSES the Ryan Blair
crowd Of throwing their stocks on tho
market for tho purpose Of demoralizing
prices ana OF Incorporating the condi-
lions OF tho Scnboard system and N Of
breaking faith with him. He also intl-
mates Very strongly that n change OF
DOES RYAN CONTROL? :
Ny Information, snld Mr.. Williams,
us to tho effect that al the tii1ae we made
this sale TO Mr.. Ryan. tho Ryan Blair
syndicate. IN their efforts to keep down
L
q very large portion, II not nearly all Of
tho $4,000 shares OF stock which they're
IceieVd a. q bonus with tho $4,000. 900 Sea p
board three-year s. (Which was the
am cunt OF these bonds eventually taken
by their syndicate. and which were UNI
derwritten BY this syndicate last win
ljter) VI 81 N ~ q q s3i
#st"lf the statements recently made by;
members OF this syndicate to the effect
| that they hhd bought no 6eaboard stocks
except tho stock received with the three.
year per cent. bonds, ana 10000 shares
purchased from Messrs. Middendort &
l8Wluinms be correct, the syndicate's en-
tire holdings OF Seaboard stocks at the
present time must amount to but little
more than one fourth OF the stock OF the
lcmpRny@ outstanding. ISL 81 " & is "
lsSs SOLD TO #DEPREss VALUES.
This syndicate lost a large amount Of
stock between q and II for the common
and between ~ and 20 3forsthe preferred,
while endeavoring to e keep down the
ItprIces during the time they were nego-
l5tihting for and hoping to buytthe MID
| dendorf-W llllams holdings for which
they subsequently paid Is and Is. There
| is no doubt that the stock was thrown
on the market by the Ryan Blairr syn
dictate for the purpose OF manipulating
prices, for i have Identified many OF the
stock certificates which were sold
Through certain New. York brokers en-
rloyed by the syndicate managers as
l5being the same certificates that were
l3delivered by the company to the Blair
| Ryan syndicate on account OF their sub
scription to y the three year per cent
| bonds, notwithstanding the fact that I
! had been given tho most solemn assur-
.ances last winter that this stock. so re-
ceiyed by the syndicate. was not to be
used for the purpose OF manipulating or
rniding the market. but that 1t would
! be held by the syndicate for long
Spull, so as to reap the benefit OF the
enhanced value which would come with
4 the growth and development OF the prop
! erty. 58s IL aH8 Ri M 81
CHARGES NEUTRALITY-SUSPICIOUS..
ION June %. 1908. an article was pub
l8lshed BY the Boston News Bureau
| which. ! am reliably informed. came
from =. Jefferson Coolidge. Jr.. one OF
i the syndicate managers. which said !:
/ The Sea board Air Line Company IS
In need OF s, ZOO. 900 OF new money. and
4 the plan to form holding company
4 whereby It will be possible 4 o raise ihis
/ additional money is practical. and will
undoubtedly be carried out whether or
4 not Mr.. Villains fayors a
/ 158 SYNDICATE CHANGSs FRONT.
i 5.l' Now that they have succeeded In pur.
chasing the stock owned by Messrs. J
i William hIiddendorf and Company and
4 John L. Williams and Sons, the syndicate
4 managers have turned a complete somcr-
sault and have undergone q most re.
BILE change OF heart and mind. fol
i am Informed that Blair and Company
who threatened that the adoption OF the
drastic and thoroughly. unnecessa ry re,
\ organization plan was the only alternative
\ to a 5receivership. now, after having pur'
4 chased our 81, 600 900 block OF stock, bland
! Is state that they feel that a general re-
\ Organization Of the property will not 81
I, necessary. and that the amount % M nes
J (which will be required for the ensuing
4 year, in addition to8the current receipts
4 Instead Of being several millions Of DOL
a lars. will probably be about eleven hun
4 dred thousand dollars, which they =
4 inform the stockhold ers can be raised b.
or BY temporary loans, whichever ma b
4 most! advantageous TO the company.
i NEW MONEY FOR BETTERMENTS.5
i "Furthermore. this $1.100,000 is all OF
4 nearlyS all for lrnpr and better
ments, tho other receipts OF the company
being estimated by them to be sufhcien'
Z, for the completion Of the Birmingham
i line tor the retirement OF nearly 500, 900
q @of the principal OF car trusts, and fol
1.-THE payment OF interest on all othe1
4 bonds rentals and other charges.
~rhe expenditures for improvements
Z Inducements on the system Tor the pas,
4 four years has been on an ayera go 81 O p
a about 5000 900 per annunl,L !,
i CAPABLE MANAGEMENT ALL! !ftA,i
D is NEEDED.
II ~ hay, not been advising my friends
Ito sell their seaboard stocks even, Or
the present advance, because believe
Il that IL is fully within their power ane
4 the power Of the other outside 1stock S
holders to maintain their rights, and =, g
secure for the company eventually IN J.
honest and capable ma nagement Wh. :.
"A sential fo. Its best Interests. 81 B
FIREMAN WITH HEAD