The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-02-10
As TWO DUEL|STS
Opposing Committees of
the Seaboard.
One Endorses the BIair-Ryan Finance
Plan and The Other Outlines
the Policy of 0pposi-
tion.
(By the Associated Press.)

Baltimore. Md, Feb. 9.-The two
Baltimore committees of stockholders
OF the Seaboard Air Line Railway met
in this city today. One endorsed the
Blair Ryan plan and the other an
nounced it's policy of opposition. The
endorsement of the plan was made
through the protective com mittee COM
posed of GuStavus Ober, Fl. a. Orrick,
Frank s. Hambleton. Townsend Scott
and Simon Stein. This committee is
SUED the following statement:
"At q meeting of the Seaboard Air
Line Protective Committee held to-
cay it was decided to announce that
after careful examination and consid-
Grafton of the plan of consolidation
and deposit agreement of the Scaboard
Air Line dated January II, 1905, Sug-
2ested by the Board Of Directors and
a personal investigation of the re-
Quirements CT the road, the Seaboard
Air Line Protective Committee unan-
inously recommends that the plan be
promptly ratified by every stockholder
by the deposit of his stock With the
deDositories-either the Continental
Trust Company, of Baltimore, or the
Morton Trust Company, OF New YORK.
1t is the opinion of the committee
that with the proper expenditure of
81 soc, 900 the system Will be placed III
position not only to handle the present
business, but i largely increased tom
mage (Which is assured) more Efficient
ly and economically than at present
which necessarily will acrue to the ad-
vantage of every StOckhOldei.'
A member of the committee stated
that between 10000 and 10000 shares
will be influenced by this action and
that before reaching it's decision the
committee was assured that no change
would be made in the plan.
Report of the Opposition.
The other pooling committee having
in charge the interests of holders Of
about $4,000 shares of the stock of the
Seaboard Air Line Railway Company
is composed OF c. Ruhstrat, G. Morton
Stewart and james l.. Sellman, of Bal
t,mOre and Frederick e. Noting, OF
Richmond Va. This committee issued
a statement denying specifically the
accuracy of q publication that the op-
position TO the Ryan Blair plan is con-
fined virtually to j. Shelton Williams,
alleging that Mr.. Williams does not
control or influence the committee in
any manner, that the purpose Of the
committee is to tack care of the Co.,
600 shares of stock now behind it and
Of others who may join, that the date
Of February / 5, arbitrarily named by
Ryan and Blair is of no consequence
CT Significance at all SO far as the
rights of stockholders of the Seaboard
Air Line are concerned. that an al
most complete surrender of thekr
rights is demanded Of stockholders lis
a condition of their assent to the Ryan
Blair plan and that the committee 10
advised that no such surrender OF
their rights is necessary in order to en-
title them to share equally with all
other stockholders in aEy benefits that
may secure from the Ryan-Biair plan.
The statement concludes as follows:
1--WE are willing to meet MeSsrs.
Ryan ana Flair or their representatives.
at any time i'll a friendly and business
like spirit, but we are not to be bull
dozed or intimidated by anybody.
1t is signed by all the members of
the committee.