Savannah morning news. [volume] (Savannah) 1868-1887, 1882-02-25

the company s property. and surplus or re-
serve fund for such uses as the board Of direc-
tors on the said company may deem proper:
the remainder Of the company's gross an
fortyhTe thousand dollars Css45 Go there sN1
OF. should they exceed that amount. shall
be applied TO the payment of interest, as
pledged by this instrument.
An annual statement of the gross and net
earnings Of the said Steamship Company for
the preceding fiscal year ending August 31st,
snail be published in one or more public jour
mails OF the city of Savannah, Georgia. daily
during the first week IN November OF each
year, and the annual interest payable shall be
advertised therein and shall be paid on or be-
fore the first day of December of each year.
ms certlncate Of interest may be transferred
in multiples of one hundred dollars on the
books OF the company at any time except dur
ing the month of November by the party in
whose name IL is registered in person or by an
attorney Only authorized for that purpose
hundred dollars
In witness whereof. the Ocean Steamship
Company or Savannah has caused this instru-
ment 70 be signed by its President and attest9d
oy IT'S secretary. this 9TH day IF February. 1882.
Signedl E G. ANDERSON, President.
I. NJ. CUNNINGHAM Secretary.
EXHIBIT H.
SAVANNAH GA, February 4, 1882.
To the President and Directors of the Central
Rdftr'Gd and Banking Company of Ga.
GENTLEMEN-We are stockholders in said cor
poratiOn. and, as such. have an interest in all
OF its property. We have been Informed of
the proposed action OF the Ocean Steamship
Company Of Savannah. by which that corpora
ton would attempt to issue and distribute TO
its present stockholders 600 OF certii-
Gates bearing interest at the rate of six per
cent. per annum, not cumulative, payable out
OF the future aud prospective net earnings OF
the corporation only in the event that there are
such net earnings We are advised that such,
or any similar issue Of certificates, would be
without authority of law, illegal and ultra
wires, and we now call upon the Central Rail-
road and Banking Company OF Georgia to pro-
test against the proposed issue and in terms to
express Y forbid it; and, also, to file a bill
against the Steamship Company to enjoin the
contemplated act. 1t is necessary that there
should be prompt action taken by the Cen
tral In the matter. or that IL should promptly
refuse TO do so, in order that we may protect
our rights in the premises. Please give us
early advice of your decision
Very respectfully,
w w. GoRD N w 8. CHISHOLM,
GEo J. MILLS. Fl M CONFER.
BRIGHAM j. NJ. GUERARD.
JOHN FL NNERY HENRY RLUN.
GEO. i COPE. j. D. BERToDY.
JOIN ScREvEN, Trustee, etc.
EXHIBIT L
9TH February 1882
Aessrs. " W Gordon, George j. Nils and
others:
GENTLEMEE-In reply to YOUR communication
of the Attn inst, beg to enclose herewith a
directors, passed this day.
Very respectfully yours.
WV. NJ. WADLEY,
President
A communication from W. W. Gordon, Geo
}. Mills and others, touching a contemplated
action by the Ocean Steamship Company, as
board.
Resolved. Thqt this board decline to take the
action requested in the said letter
Resolved, ftj ther, That the President be re-
quested 10 transmit a copy Of these resolutions
as the answer of the board of directors
EXHIBIT ].
To the President and Board of Directors of
the Central Railroad and Banking Company
of Georgia:
GENTLENEN-we have been informed that the
President ana Board of Directors of the Ocean
Steamship Company of Ssvsnr alb, at meeting
held on the seventh day of February 1882 have
caused to he signed by Z. G. Anderson, Presi-
dent. and T. NJ Cunningham, Secretary with
the seal OF the corporation attached, a docu-
ment or instrument in writing called ''certif-
cate Of interest" No. l. whereby the Ocean
Steamship Company of Savannah certifes that
for value received, il will pay to tn Central Rail-
road and Banking Company of Georgia, from
the annual net earnings of the COMPANY as in
said document provided. yearly interest upon
three million FIVE hundred thousand dollars at
such rate not to exceed seven per cent. per
annum, and not TO be cumulative in case
OF either entire or partial defanlt
during any one or more years, as the
whole of the said net earnings so ascertained
will avail and be sufficient to paw upon the
said amount, three million five hundred thou
sand dollars. We are further informed that
the said certificate Of interest provides that il
may be transferred in multiples of one hun
dred dollars the books OF the com
Dany at any time except during the month of
November, By the party in whose name it is
registered. in person or by an attorney duly
authorized for that purpose. AS shareholders
Of the capital stock of the said Central Rail-
road and Banking Company of Georgia, in be-
half of ourselves and others, we have already
earnestly protested against the aid action Of
he President and directors Of the said Ocean
Steamship Company before the said certificate
was executed as aforesaid, and appealed to you
and TO the Ocean Steamship Company to for
bid it. and, II necessary, to eniOin the contem-
plated action.
And now that the said certificate has been
executed we again earnestly protest against
the said action OF the President and board of
directors OF said Ocean Steamship Company
And we call upon you as the managing body
having the possession and control of ali the
property and assets of the Central Railroad
ard Banking Company Of Georgia. and espe-
ciaily of its property, the eT tire capital stock
Of the said Ocean Steamship Company, to hold
the same IN trust ana TO manage the same for
the use Of the shareholders according to the
terms and provisions of the charter contracts
and the laws of the land.
And TO that end we earnestly protest against
your body receiving the said certificate or any
similar document or paper or transferring the
same or any multiples thereof to the share
holders of the Central Railroad am Banking
Company of Georgia. or the Southwestern
Railroad Company, o. 20 any persons or cor
poratioLs whomsoever or whatsoever.
or in any way disposing OF the
same. And we further earnestly request
that as the representatives and trustees
of all the stock of the said Ocean Steamship
Company you will expressly forbid the delivery
OF said certificate or any similar certificate or
paper to any persons or corporation whomso.
ever or whatsoever. or the transsser of the same
or any s...ssiar cerHcate or paper in whole or in
part on the books of the said Ocean Steamship
Company to the stockholders of the Central
Railroad and Banking Company or Of the
Southwestern Railroad Company, or to any per-
son or corporation whomsoever or whatsoever.
And we insist that you will take such action
in the premises by suit in the courts or other
wise, 10 perpetually enjoin the receiving. is
suing, transferring or disposing of in any way,
as aforesaid, of the said certificate of interest
or any similar document or paper, and as
will have the same declared null and void and
caused to be cancelled.
A prompt reply will oblise. yours respect
fully, w. w. GORDON,
u. II. CONFER,
-, D.