Savannah morning news. [volume] (Savannah) 1868-1887, 1881-04-11
THE TRIPLE RAILROAD ALLI-
ANCE,
An Agreement Probable at an Early
Day-The Claims Against the South
Carolina Railroad 80 be Taken Up
Col. Wadleyss Return to Augusta.

Col. WadleVss Return to Augusta.
There was considerable excitement in the
city among brokers, spectators and business
men generally on Saturday over the report
that Col. Wadley, who was in Charleston,
had telegraphed to Savannah for a large
amount of currency, and the belief was
strengthened that the negotiations, which
had been pending the past few weeks, were
about drawing to a close. The effect on
the market was not as great, however,
as might have been expected, though Cen
trail advanced a point or two, and closed
very firm. This was due most probably to
a reluctance on the part Of spectators to
tide over Sunday in the present unsettled
state OF affairs, and hence sales were not
very heavy. 1t seems certain, however,
from all indications, that matters are near
ing the end, and that the alliance will GER
tainly be effected. Colonel WadleY was in
Charleston on Friday in consultation with
the officials of the South Carolina Railroad,
and returned to Augusta Saturday morn
ing, accompanied by Receiver Fisher, of
the South Carolina Railroad, and had an
other lengthy conference with President
PhiniZy. The only obstacles to a final agree
L4Chba ODCdI " NC NAC AChidlu Va bnO
bers Of the old South Carolina syndicate, who
hold claims to the amount Of $56, 900, to be
paid in full IN cash. Though this demand
was refused to at the meeting in Charleston
on Saturday the report that Col. Wadley had
telegraphed here for a large amount Of cur
rency, as above stated, would seem to indi-
cate that the prime movers In this grand
combination do not propose to have their
plans blocked, and that the claims will be
paid and the sale of the road be then pro-
eeeded with.
Says the Charleston News and Courier,
"The last thing before his de-
parture Mr.. Wadley, speaking Of the triple
alliance, said: i am not sure that l can do
it, but l shall If 1 cam This was said with
q determination of manner which was very
significant. There really is nothing in
Charleston to prevent the arrangement from
being completed except the $56, 900 dead
lock, which stand in the way of the sale of
the South Carolina Railroad.
"There is also warrant for saving that the
huge Louisville and Nashville system is
favorably disposed TO the Charleston. Au-
gusta -Savanneh alliance, and will work har-
moniouslY with 1t. The common foe will
be the Danville Railroad system, alias the
Pennsylvania Railroad.
at VIII be remembered that an appeal to
the Supreme Court of the United States
was taken by the South Carolina syndicate
ana other persons interested, when the de-
cree or the Circuit Court in the ease of Cal
vim Clafin and Others was filed. This ap-
peal is now pending, and in the ordinary
course Of judicial events would not be de-
term1ned for two or three years, during
which time the South Carolina Railroad
would remain in the hands of the receiver,
no reorganization could be had and nothing
could be done to make Charleston a great
railroad terminus. The object of the Pur-
nhapfn& Dno-N%AEaA 49, ~ IL
creditors so as to secure consent to a dis
missal of the appeal, when an order could be
made for the sale of the road, and the reorgan-
izatlon take place at once, with its attendant
wharves on the riverside, grain elevators
and fine new steamers. But the representa-
tives of the $50, 000 already mentioned can
not be settled with, and their expectations
appears to be that If they are not settled
with, on their terms, the whole bust
ness will be locked up for years. Mr..
Samuel Sloan and Others e~ndeavored I'M
availingly to get an agreement with the
dissidents Friday, and, having failed, the
next move will be to take proceedings be-
fore the United States Supreme Court for
the dismissal of the appeal. Those on that
side say that they can make a statement OF
facts that should ensure the dismissal.
There Will be no waiting for two or three
years, II 1t can be helped"
Mr.. Sloan left Charleston on Friday night
for New York, and II may be assumed that
1t will not be long ere something definite
and satisfactory can be stated.
Colonel Wadley's return to Augusta on
Saturday seems to have had a great effect
on the stock market there, and an extraor-
binary advance is reported. Georgia opened
with sales at 1873 and rapidly rose to 1874,
135, 1876 and finally to $40, sales of two
thousand shares being made during the day,
a large portion at the latter figure. The
high price caused the market to be flooded
with stock, and in the afternoon there were
numerous offerings at 140. The market
closed at 1879 bid, $40 asked. Central
opened at 116 bid and closed at 11S bid,
119 asked, with sales of five hundred shares
during the day, about three hundred shares
at 1l9.
Referring to this, the Chronicle of Sunday
says:
"There seems to be no doubt in the
minds Of any one that the alliance will be
consummated. Mr.. Wadley keeps his own
counsel, but his recent visit to Augusts,
then to Charleston, and his return to Au-
gusta so soon, lead to the conviction that
everything is IN the proper trim and that
the alliance may be looked upon as an ac-
complished fact. Whether it is this feel
ing which has caused Georgia Railroad
stock to advance ten dollars a share, or that
the friends Of the Central desired to buy
more stock in order to render security
doubly sure, is a problem that has not yet
been solVed.n