Savannah morning news. [volume] (Savannah) 1868-1887, 1882-02-10
VIZ. W,aI.x.nd the Central.

Says the Augusta Chronicle: I'VE very
much regret the resignation OF Mr.. VIM. u.
Wadiey as President Of the Ocean Steam
ship Company. Mr.. Wsdley's management
OF the railroad interests Of Georgia has
been something wonderful even in these
days Of railway progress. Stretching out
his iron arms IN every direction, he has
tapped the great trade and agricultural cen
tres OF the country and developed the
Central Railroad and its tributaries in s
manner never dreamed Of before.
His retirement now would be 8 positive
calamity 70 this section % COZ y. He
has but recently taken charge o. Re Geor-
gia Railroad, and il was reasonable 70 sup
pose that under his control the two grest
railroads Of the State, worked in harmony,
would be developed 20 gFester extent than
ever before. Mr.. Wsdley mas s powerful
mind. q1ick 70 grasp the exigencies Of the
si,ustiOn, and Il is 70 this that the Central
Is indebted for so much OF its present
prosperity and power. The Ocean Steam
ship Company owes It's existence 70 his
fsr-seeiog policy-s policy the wisdom OF
which hss been fully demonstrated By the
great success Of the line. Mr.. Nsdley has
also 10 contemplation, IS is vel known, the
establishment OF s direct line OF steamers
between Savannah and Liverpool line
which would undoubtedly be o. great al
vantage 70 Savannah, 70 the Central Rail-
rosd sud 10 Georgia The State cannot
sfford 70 lose ET. Wadiey SIS manager OF
the CREST corporations which he gas plotted
% successfully. Snd We sincerely trust that
he viii remain a their head.
The Chronicle favored the issuance Of
stock 10 represent the property OF the Ocean
steamship Company; but l. was understood
AZ the tine that such stock was to stand in
The same rsistiOn as the debentures recent
II Issued By the Central Railroad. snd draw
4 certain rate OF interest. II the income
bonds sre 70 be Al uncertain commodity IN
regard 70 Interest, We see no Tess0n why
The Central RsilrOsd stock should not be
worth as much Eitbou. them - with them.
Mr.. valleys position, briefly stated, Is
that the Issuance Of income bonds 70 the
amount proposed is Injurious 70 the best
interests ot the Central Railroad snd in
violation Of the chsT-er Of the O,esn Ste m
ship Company. Re therefore resigned
rather than d 81 sct IS President Of the
beard which he belisTed Injurious 70 the
cOupsry and without authority Of law.
TIE Clrouicl< regrets that there should
De any serious difference between Colo
nel Wailey asd General Alexander
in The management OF the Central
Railroad. Thst men should differ as 70
the policy OF large corporation Is natural,
but that such difference should force resig-
nsti0r from such man ss Colonel Wsdley
Il very much 70 be regretted. General
Aiexzrd.r has had phenomenal success IS 8
railroad President. His friends, and they
sre numerous, have confidence IN his ability
20 surmount any complications that may
sTise, but no ability, however great, can
surmount the iusupersble obstacle Of the
law. General Alexander has carr out his
cherished policy in the fsee OF tremendous
opposition. snd II now remains with the
courts 70 decide the legality Of the results
OF his policy"