The Birmingham age-herald., 1904-07-08
SEAB0ARD WORK IS PROGRESSING WELL. The Birmingham Branch Is
 Nearing Completion PRESIDENT BARR'S VISIT Mir. Barr Says Ills Line VIII Be Opened Into Birmingham Before the End of the Present
 Year.

President J. NJ. Barr of the Seaboard Air Line says the seaboard trains will be running from Atlanta, on the main line, Into Birmingham before the end of this year.
 MT. Barr arrived in Birmingham Wednesday. and left last night at 11:s0 for the east He had been making I-tour of inspection of the Seaboard's new line between Atlanta and Birmingham, and while here spent most of his time in looking over the construction work with in the city limits He was accompanied by Superintendent L. B. Parsons and aAcorp of engineers.
 On former visits MT. Barr positively de- clined to say when he expected the Ala bama section of the new line to be conn pleted, but the recent progress of the work on the big tunnel at Hardwick gap twenty-four miles from Birmingham. nor gives him pretty clear idea of the time when the Birmingham branch will be opened for business.
 | The old East and West road, now part of the seaboard's Atlanta and Bir- mngham Air Line, has been practically
  City, Ala. The new section between Rock mart and Atlanta Is nearly completed, and great deal of track laying has been done on the section between Birmingham and Coal City. When a short gap just be- yend the city limits is iaid with rails there will be continuous stretch of completed road of about nine miles from Birming- ham eastward
 Three Tunnels. There are three tunnels between Bir- mingham and Atlanta, two of them in Alabama and one in Georgia The Hard wick Gap tunnel is the longest. It runs 1900 feet through solid rock. The Roper tunnel, twelve miles this. side of Hard wick. Is only 800 feet long and will be finished soon The tunnel between Rock mart and Atlanta Is already completed.
 The total distance between Atlanta and Birmingham is 16S miles, divided as fol- lows Atlanta to Rockmart, 4S miles, Rockmart to Coal City 80 miles; and Coal City to Birmingham, s5 miles. Every foot of this line will be laid with heavy steel rails and will be finely ballasted It Is noteworthy coincidence that the distance between Atlanta and Birming- ham is exactly the same by the Southern and the Seaboard =
 Mir. Barr Optimistic.
 President Barr met a number of promi- nent citizens yesterday and as he always does on his periodical visits, informed himself on local conditions. He was very optimistic. While he realized that gener- al business was dull at the present time he expressed himself as confident that there would be a revival next fall, and that we have solid prosperity before the end of the year. He said the Seaboard's traffic was as good as could be expected | in view of business conditions and as to the future of the road he had the utmost confidence.
 Financial Situation. Concerning the financial side of the seaboard the circular of Hamilton & Co. of Baltimore says:
 "The Seaboard situation seems to us to be as follows: The Blair-Ryan party | at present dominates the policy of the company and controls the management through voting-trust, which 1t acquired at the time 1t came to the assistance ot the company with the first loan of 2.- 100000.
 Tt will be remembered that later a loan of s5, 100000 was created, and what l is known as the three-years 5s were sold at par with a stock bonus of nine shares of preferred stock and sixteen shares of l common stock.
 .The raising of this $5,oo0,0oO was con- sidered sufficient at that time to pay off the loan made by Messds. Blair & Co and to furnish what was believed to be sufficient amount of money to com I plete the Birmingham division, and for the other necessities of the property.
 Later developments, however, would seem to indicate that the company will require additional capital to perfect it's undertakings and>plans, and to complete the Birmingham division.
 Tt would appear-for the present, at 1 least--that the company is not in need of funds, and that 1t can get along with the capital already supplied together with it's income over and above fixed charges. We take it, however, that this is only a temporary condition and that sooner or llater some further financiering will be necessary.
 "As stated above, the Ryain-B -Blari party has the controlling hand so far as the present management and policy of the company are concerned
 "There is, however, another side to this | question, and that Is that Seaboard stocks gre held by the creditors of Messrs. John T., Williams & Sons of Richmond, and Messrs. J. William Mlddendorf & Co. of l Baltimore 1t Is supposed, an amount large enough to command ma ioritv vote and, therefore, to control the property should anyone obtain possession of this block of stock.
 This suggests the possibility of some l parties-other than the Ryan-Blair syndi- cate-obtaining control of the road.
 "The Seaboard Air Line railway occupies position in the south which makes 1t quite attractive to other lines, especial ly those. lines connected or seeking con- nections with the south and the seaboard.
 If Messrs Williams and Middendorf could secure the assistance and support of the Wabash or the Illinois Central people--or some other interest with power- full backing and an ambition for exten- sions-it might be possible that contest fdr ba o11<r o,1a