Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1908-01-02
Attorneys For Company Ask
For Receiver Because OF
Financial Difficulties
THOMAS F. RYAN CONTROLS
Drastic Southern Legislation Blamed
for Some of the Ills Of the Com
pany - Capitalized at s62,ooo,ooo
Road Has Debts of $7e,ooo,ooo -
Controls Other Concerns.

trolling the Seaboard Air Line were in
Danville last night with bill asking
for the appointment of S. Davies War
field, president of the Continental
sentlng the Ryan interest, and Ran
dolph Williams OF Richmond, a
brother of John Shelton Williams. as
receivers for the company.
Application for u receiver was made
to Judge Wardell OF Richmond last
night, hut he referred the attorneys
to Judge Pritchard. The lawyers i'm
mediatey took Il special train to DAN
vile to meet Judge Pritchard. They
arrived here at II o'clock and were
closeted with Judge Pritchard until a
late hour.
The papers asking for the appoint-
ment OF receivers, it is stated, assert
that, on account of drastic anti-rail-
road legislation in certain of the south
ern states. inability to make prompt
depression, and heavy expenditures
for Improvement. the railroad flnds 1t
self unable to meet its obligations.
The directors of the road held
meeting in New York yesterday, An
other conference was held today at
the New Willard hotel. Washington.
between Samuel Untermeyer, the New
York corporation lawyer, who prepared
the legal papers in the matter. and
John Shelton Williams of Richmond
The Seaboard Air Line owns and
operates 2,611 miles Of railroad in Vir-
ginia. North Carolina, South Carolina
Florida and Alabama. and IS one or
the largest companies in the south. 1T
has capital of s62,504 900 and funded
debts. covering beth the main line and
the constituent companies, of $780,
615.602.
The company, which succeeded the
old Richmond, Petersburg & Carolina
Railroad company and combined under
one management several railroad sys-
TENS in the southeast. passed into the
control Of Thomas f. Ryan, the New
York financier. and associated inter
ests in 1902. and in 1905 new holding
concern, known as "the Seaboafd
company" was organized by Mr.. Ryan
and his associates
The Seaboard Air Line Railroad
company was organized under the laws
of Virginia Jan. 12, 1900, succeeding
the Richmond. Petersburg & Carolina
Railroad company Its purpose was to
combine under one management the
old Seaboard Air Line system. the
Georgia & Alabama Railway COM
pany and the Florida Central & PENN
sular Railroad company.
At the time Of it's organization the
road owned lines extending from Rich
mond Va, to Tampa, Fla. Atlanta,
Ga. and Montgomery, Ala. total
distance of 2544 miles. 1t also had
under lease tifty-eight miles, and
trackaea rights on sixty three miles.
but had leased to another company
six miles. making a net mileage under
operation OF 2,611 miles.
The Florida West Shore Railway
company. with sixty nine miles of
track. and the Savannah & Statesboro
Railway company with fifty-tWo miles,
are controlled. In January, 1905, con-
troll of the Macon. Dublin & Savannah
Railroad company was acquired In the
interest of this company. In 1904-06
the company acquired the East & West
railroad of Alabama and constructed
extensions of the same, giving the
system a line from Atlanta to Birming-
ham, Ala.
Included in this mileage are 102
miles from Richmond. Va, to Ridge
way, n. c., the Richmond, Petersburg
& Carolina railroad. built by the pres
ent company to give the system an en-
trance to Richmond, and eighty-seven
miles from Cheraw, S. c., to Columbia,
to connect the old Seaboard Air Line
and the Florida Central and Peninsu-
lar systems. These connecting links
were completed in 1900. The present
company also built seventeen miles,
Medium. Ca, to Savannah, replacing
a like mileage formerly leased from
the Central of Georgia.
The company has a one-sixth inter-
est in the Richmond- Washington
company, which controls and operates
the Richmond, Fredericksburg & Po-
tomac railroad Richmond to Quantico.
Va, and the Washington Southern,
Quantico to Washington. and an ar
rangement with the Pennsylvania
Railroad company for it's service be-
tween Washington and New York.
The Baltimore Steam Packet COM
pany, running line of steamships be-