Savannah morning news. [volume] (Savannah) 1868-1887, 1882-01-04

Election OF President and Vice Pres.
fdent--NO Talk About ssDfvIsfOn,s-.
The Question of 'sIncome BOnds's
Not 10 be Considered Until Feb
FuaFV,

The newly elected directors Of the Central
Railroad Company held their meeting yes.
terday morning for organization, and It was
confidently anticipated that some decisive
action would be outlined, and the greatest
anxiety was manifested to hear the result Of
the session.
The board reelected Col. VIM. NJ. Wad-
ley as President and Capt. W. g. Rsoul as
Vice President, and then gave their atten-
ton to the usual routine business, which
was disposed of promptly, and at 2 o'clock
the meeting adjourned.
When It became known that no action
had been taken in regard to the proposed
Issuance of bonds of the Ocean Steamship
Company OF Savannah, there was undoubt-
eddy considerable disappointment. 1t seems
that the msjority Of those who have been
purchasing Central stock on this
late boom, with the expectation
OF a rapid advance and the reapfng
Of generous scrip dividends, were under the
impression that immediate action in the
premises would b taken, and that the policy
fOreshadowed by General Alexander and
his supporters would be announced and go
into immediate effect, and the stock market
would become buoyant accordingly.
This expectation was not realized, as
in the directory OF the Central has not
proven what was expected, as the "bulls,"
10 judge from the current gossip on the
boulevards, were sanguine of immediate
declaration. The fact seemed to have been
entirely lost sight of that the Cen
trail Railroad is only a stakeholder
IN the Ocean Steamship Company,
and that the directors of that company were
not competent to issue bonds in the name
= Ia l.. "a 81
had no active control. The present d.
rec'ors Of the Ocean Steamship Company
are Colonel VIM. NJ Wsdley, Colonel E. G.
Anderson, J. j. Gresham, E.q., George
Cornwell, ESQ, and General A. r. Lswton,
only two of whom are numbered among the
present directory OF the Central Road, and
hence their inability to take any such action
as contemplated by the advocates of the
proposed division. The annual meeting
for election OF directors of the Steamship
Company will be held on the first Tuesday
in February. at which time a new board
will be elected, and then It is posi-
bic that directors favorable to the
proposed Issuance of income bonds
may be put In. There is however, uncer-
tainty in the matter, aud what the result
will be can only be surmised. Between now
and the first TUESDAY, in February there msy
he condition of affairs that will render the
policy now favored by SO many impracti-
cable.
The market yesterday was very inactive,
few sales being reported. We are informed
that the stock fell to 10 ex. all dividends.
but that the quotations were lis ex. all
dividends. There were some sales at the
court house at 40, with dividends, though
the market closed at 13S bid, 140 asked.
The indications now sre that there will be
no material change In the market until the
meeting in February of the directors of the
Steamship Company, and those who have
bought with the expectation Of an imme-
date rise, msy have to exercise their pa
thence, though their rich harvest may come.