The Birmingham age-herald., 1912-06-19
New Controlling Factor in Line Is Accompanied by
 Other Officers
HOPES TO RETURN
 IN THE NEAR FUTURE
Regrets Recent Erroneous Publica- tions Regarding His Connection With New Settlement and
 Development Organization

s. Davies warfield of Baltimore, &C., companied by Vice President Charles R. Capps and Legh R. Watts of the Seaboard Air Line railway, spent yesterday in Bir- mingham. MT. Warfield is one of the best known and most highly esteemed finan- cIers of Baltimore. He has become the controlling factor in Seaboard affairs since the organization by him of the War field syndicate, which purchased the large block of seaboard stocks formerly owned by the Cumberland corporation. and which represents southern and east ern interests and men prominently iden- tified financially and otherwise with the several sections. The Cumberland cor poration, from which this Seaboard inter- est was purchased, was organized by the Blair Ryan Coolidge interests. This stock has been trusted with Mir. Warfield as chairman of the syndicate
 Mr. Warfield is president of the Con- tinental Trust company of Baltimore, and chairman of the executive committee of the Seaboard Air Line railway, and among other interests he is closely identified with large cotton mill operations in the south. He is now making trip over the Sea- board system. In discussing the Southern Settlement and Development organization. of which he is chairman, and which was organized in Baltimore at a meeting of southern governors, railroad officials and prominent southerners in February last, MT Warfield said yesterday:
 T regret that certain recent statements in the press were entirely erroneous when the inference was made that this purchase of Seaboard stocks referred to had some connection with that organi- zation. "The Southern Settlement and De- velopment organization" said MT. War field, was entirely independent of any particular railroad or transportation com pany operating in the south, and was formed not as a business proposition or for profit. but for the purpose of the settlement of vacant lands in the south with worthy settlers, and for the further encouragement of the agricultural and in- dustrial possibilities of the south. The purpose of the Southern Settlement and Development organization is to benefit the entire south without respect to any sec- tion and without regard to any particular or tIdIspOIldllOn company Op- erating in the south. It's only source of support, in fact. was by voluntary con tributions on the part of states, railroads, individuals and otherwise.
 'I regret in my limited time in Bir- mingham that l had not the opportunity to go over the entire Birmingham dis trict and to meet more of the business and financial men of the city This op- portunity I trust will be afforded me in the early future The Seaboard Air Line railway as a southern and independent railroad property desires to meet the de- mands of the immense development which is taking place in the Birmingham dis trict and other sections of the south. One of the purposes of my present trip is to become better informed as to these con- ditions and these needs
 "I had the opportunity of visiting Corey and Ensey; the latter l visited upon a former visit. Corey is a surprise to me. It is splendidly laid out. It will become a fine indutsrial centre'
 MT. Warfield and his party left in the afternoon for Savannah.