The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-01-03

AY JANUARY ., lvUo.t l.5,
bring him to the s,eabourd. 1ndeod, =
Barr dlctnted his own terms, the Size
OF his salary Increasing as expenses
were reduced. Az natural fesnit.
ranks. X" Bit s tie npparent t' friendship
between Williams and Barr whs 81 ort-
lived. and In the end they fought s eI
\ other Will, the ferocf.y of lions. For-
tunately, the good name, and not the
| hide, was punctured, for tho battle-
ground was on white paper, aud cold
type The weapon OF attack
ltynn nnd WiiItnins.
Corning 4, as the purchaser Of the
property, Thomas Fortune Ryan cnused
healed. With Blair. Ills associate. he
was charged With all the, shortcomings
q the ~ tenn he was pictured us the
increasing his millions when the stock
h1 .1s we ,la. Of waiting and no.s
hand 1t 10 believed BY many IAN ' ti,af 9' b,,f
for the intervention OF Ryan and HIS
BeWerf hson as 81 ;,s the road would
long long age ssc,,1 /. eyer 4. railroad SUI.
ranks, 4 was ne ssaboard, which
4
been balIasted with invective Instead
Ct Of. gravel and stone on top Of TVS
/ ana az, Harr man. All the tine the al
lian.s faction had little influence I'M
the To e9a !. L. Of var.
cone o MI pow WA aRa seems to hays
Yesterday the petition for receivers
Was was not not, presented until after he had
n neeh et3bn IN, h. 7 was reported last
Ryan interests to be content with
equal representation in the matter oil
receivers, instead OF. two ont Of three
as they Mt first desired.
strife the effect of the appointment OF
receivers on financial centres was
somewhat emarkabie--remarkab be-
cause of the feeling that 1T means bet
ter days and not the wrecking OF the
road Apparently the factions got to-
gether; atSleast the company and the
creditors pooled their interests and
troubles and went Jointly to the courts
/ for what may prove to be an amicable !
adjustment, II not the salvation OF the +!
stock and the physical assets. The
success OF the policy OF the Baltimore
and Ohio IN reorganizing by an assess
ment is pointed to as one OF the adj
vantages In favor the plan. The re-
ownership Will unquestionably benefit
tho shareholders.
What Mr.. Williams Says.
Mr.. John SHELTON Williams gave out
me ar,t following statement last night:
IN no spirit OF boasting, but as evil
uencc Tor those who are interested
In Seaboard securities that my opin-
ions on the affairs Of that system arc
well founded. 1 ask attention to the
TACT that my predictions OF the course
OF the property and the results OF It's
financial and operating management in
recent years have been fulfilled cX-
/ actly.
I m o.
Line system from the control of Messrs.
Ryan, Blair and Coolidge into the
hands OF officers OF the court is not
an event which should cause stock
is not case where the unexpected
has happened. but the present situa-
ton is the logical result OF forces whici,
/ four years. 1t is hoped that all in
terests may now unite on some plan
and platform which may look to the
| speedy rehabilitation of the system
and the carrying out of some scheme
which will produce the most sutisfac--
I tory results to all security holders. OF
every class, and without unjust dis
strange ss"f bedfello9s. Probably | shall
be required to work for the restora-
ton of the seaboard with men OF whom
4 / have said very harsh things. pub
| licly. and who have injured ME deeply.
The interests of my fellow-stockhoiders
aud OF the seaboard pr .n h IN sn ,cS
a vitality important factor. outweigh
with me any personal grievances may
thare. expect 10 put those srleS-
fances aside, at least until this work
is done.
/ 80 long as the Ryan-B Blair interests
I may give evidence of honest purpos
to build up the property ana pro ecl
and promote the interests of the st OK
.rhol5ers, tn will have from m, he
i men to a good end and for q good
| caus. quite as hard as 1 tough them
i while believed tn y wer doing
4 wrong or following unwi'e pohcies.
C. nfidcnce Unshaken.
4 my confidence in the possihi tiles of
is mistaken. For the calendar year
4 1907 the sSeaboard Air Line Railway
and It's af1i'inted line earned npproXi-
! mately S19,O00,000 On tn S bas s q
TEN ought to b, op rated at an *
1 pense ratio Of approx mately 20 per
1 cent or less. On this basis net e rn-
4 ings for the past year would have been
! s5.700,000 or nearly $:,oono'n in excess
4 of fixal charges. With the return OF
normal bu-iness conditions and the tre-
M ndous development viii h has been
. gong on vigorously for the past ten
years in the entire terr 'ory versed
. arrest Of which develof ment can on'y
be temporary. I b ..eve that res 1t,
still more favorable than tn Sc may
be confidently expected.
policy Of the receivers t. woke tn"
/ Seabonrd deserve the goodwill and
confidence OF the pubic with W ieh
1t will do business and resulting fair
trea tn,ent from government and State
4 authorities
II ~rTrrT AT q @A1