Show RECEIVERS R FOR SEABOARD I AIR LINE NAMED TODAY TOD I RICHMOND V Vs Va Jan 2 Judge Judge Pritchard Judge of the United States circuit court entered a a. decree toda today naming S S. S Davies Davics Warfield of Baltimore Balti more mora and E. E Lancaster Williams of Richmond as rc receivers to take taka Immediate immediate imme imme- diate possession of the tho property of tho the Seaboard Air Lino railroad Tho rho bond I of ot each was fixed at CAUSES NO BALTIMORE Md Jan Tan 2 K n. Lancaster Lan Im caster Williams and S. S Da Davies ies vies Warfield who vho were appointed receivers of the tho Sea Seaboard oard Air Line Lino railroad in in Richmond Richmond Rich mond toda today aro bankers of this city Mr Williams being a n member or of oft the thc banking house of Williams Co and Mr r Warfield president of the Continental Trust company Mr 1 Warfield who is a n. director of the Seaboard Seabond was chosen to ent the majority interests in tho the property while Mr Williams will look Jook after the affairs of a considerable minority led lcd by bv his brother John Skelton Williams of Richmond Rich ERich ERich- mond The Tho receivership will ill have a far far- reaching effect in Baltimore whore the tho securities of tho the company arc aro more br largely elv dealt in and held than in an any other trading center not even excepting Now New York The bond issues placed on the tho property since it has been merged into one system aggregate re ate of which amount it is 18 estimated nearly is ia held here Baltimore bankers declare that there is is no necessity for nervousness on the part of the tho bondholders bondholder over the receivership action BENEFIT TO STOCKHOLDERS NEW YORK Jan 2 The placing of th the tho Seaboard Air Au Line system in the hands bands of r today todal follows a statement statement state state- ment moat of oC the company a s earnings showing showing showing show show- ing 3 on hand with which to meet fixed charges of a deficit deficit deficit cit of 42 SOS It has been known for f days dars that some Ome steps would bo o necessary to protect the tho property in In view of it its ita inability to meet its fixed char charge e and the receivership was agreed upon at a conference held in in Washington Washing Washing- ton yesterday at which there ther were present pres pres' cut ent representatives of both the tho majority and minority stockholders If they will take the announcement coolly and quietly and await developments developments develop ments monte it is declared it will m be much more moro to to o their ultimate advantage than to rush into the market now to sell Persons close on the tho inside of tho the property are arc outspoken in tho the opinion that the Hie holders boMers both stocks stock and bonds bond will benefit These say no holders bolders of or of the tho underlying bonds need feel the least alarmed over the safety of the securities nor have bave any fear of default at any time in One Ona of the tho assets of the Seaboard is the Baltimore Baltimore Baltimore Bal Bal- Steam Packet company bettor better known as the Old Bay line Tho operations operations opera opera- of this line it is is said will not be bc affected by the receivership |