The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-01-31
Plan |..IA|.||
W|L|.||.B||.E:A|| ADOPTED D. D! D.
Baltimore Brokers Believe Y, s, NJ 4.
Williams Is Making Game s
But Losing Fight.
PROPOSED NEW VIEW SCHEME Il ''|I::
Former President tof5 Road OF !
ferss to Undertake lillat1lc- 81
ing 81 System. I.
lsnecial q Tho .rincs- Dispatch

Il "a "
$51 i, AZ, INN ORE MD. Jan. 80. THE new
4 scaboaru plan, proposed ~ MT. - oh M
SHELTON Williams, gave rise TO much d q
QUESTION Iii local financial circles t. o-da y,
but opinion among welt informed brokers
generally inclined to the view hat cli nc
\ 1,yan- 3 Il liz. combination would H have its
way and secure the consent OF enough en- Y 81
n stockholdcrs to make ity financial rropoc.
y gition i i success. II was semi-off iclally
stated that q substantial MAJ orlty OF : nc
stock had already been deposited with the
Il Continental Trust Company, OF this city,
and the Morton T rust conlpany,so q New s''''
York Tho same authority added that that. the he
"a committee In charge OF he Ryan ~
q pra,ostlon had assurances that BY Feb
& ruary 18th, when the time FOR deposit g
stock expires undcr the New !! York 1'l m,
II fcws Of the at,arcs will no Oh standi ~. #
/ IN As fur as can be learned tho prevailing 9.
NJ Acnt Imcnt In lnoneycd circles hero Is thai
q tl,cro Will be liz real trouble about putting
II through tho Blair scaling and bonus
q scheme. Tho belief prevails ]. that q ~
Williams Is making ~ game, by a. y los sR
fight and that nona OF tho cond IONS = q
Ii is thought that he Will have tt,l contepe
4 himself with much less. rs II
The Williams Plan.
$5$ The plan proposed by Mr. ~ illialns y
SGT forth In II statement Issued III Isn1tl-
more yesterday. Mr.. W llanls says:
u When pointed out d few /. das,g ngo what
II conceived 10 DO tho wcakncssea and sdefacls
Ior this Ryan for refinaneing fhc
II whatever money might be required should pc
III raised ny tho gale Of an Issue Of first preferred
u Iiyp per- cent stock, without Tho stock Ponus
Is polyIns tho Ssenllng OF he present stock %
per :, ny tssf
70 under'Srlte tbs stock W houi
Il The bonus named, and that nobody else could
II thererpoi. took tho subject up with some
n OF my friends and ACKNOWLEDGEMENTS o.
rIsa. ntruso
\ ,nefit Of ,hs sesioard1 Air Line hallway under
5000 ana ; %ho hya nnw Sss1e
ali tho money / required as fastsa A wanted; on
Tho following conditions IA 81 ..84
X Line railway With mo seuboard and Roanoke
i Railroad and Tho a lantia and Il Idrnng @
sha lHpG 10 no eee and
an ultimate Issue OF not moro thnn fifteen
OF eighteen millions Of frst preferred stock
,nay be provided for az ~ centennial ed IN the's
Tho present stock shalI
DO GGxcnhnSCuN SUuTN 1OT& nov BtCoIA
preferred stock, aud the Nresent common
stock shall be exchanged. sharo for share for
new common stock 80 that the only change
z in the ptalizalicn of the company shall be
II tho issue OF first preferred stock. N E35
Thlld. IA gAlthou9h not conccdng that the
money Is now really necded, my associates arc
willing to agree to the sale OF five mill on
dollars (sa, 0O000) first pre- ferred Stock with
reasonable safeguard as to disbursement. which.
Y Syndicate or strong and able men in New
8 York. Baltimore and Isicllmond at 81 10, the
syndcato3rtoi receive II commission OF two and
u half per cen.. % IL per cent? OH such por-
Gtlon of the five million dollars OF stock us they
may be required to take up. MI stockholders
3Eof the company to no given the prior right 10
subscribe. pro rata and to receive exactly Tho
s. to as that which Is to be paid to tho Hyndi-
catcsl IT, the stockholders take all the syndi-
cate gets no connss Ion I; H IL the SstockholdpiH
take none, the syndicate VIII pay tho entire
four million three hundred Sand seYenty-five
thousand dollars (S4,375, 000) OF 5caah into tho
treasury Of the railway ana recelve tho COM
mission OF ss1s5. 900. or a pro rata amount II
Under this plan each holder of ono hundred
n shares OF Seaboard Air Linz common or pro-
farrcd stock viii hays tho opportunity lot
subscribing To eight shares $e OF nrwjfIrst
4iprefcrred stock for which hctwould nay $500.
less $50 commission, or 1850 net, and lie Would
then get for tho ono hundred shares he now
holds one bundled shares Of new stock. as
1.-THE holder Of ono hundred shares pr stock
+ las 10 pay sl,25o cpsh COR nearly twice Dis
\ much as Fe Ia called on to pay under this
plan) receiving therefor II Ia shares now first
preferred, z and Il 1-2 shares OF new common,
and has for his ono hundred shares OF present