Savannah morning news. [volume] (Savannah) 1868-1887, 1882-06-20
THE CENTRAL AND GEORGIA.
RAILROADS.
The Lease 10 stand and No Change
I'm the Presidency Contemplated

The rumors in reference to the lease OF
the Georgia Railroad being annulled and
the resignation Of Mr.. William NJ. WadleY
as President Of the Central Railroad and
the succession of Gen. E. ?. Alexander to
the Presidency OF both the Central and
Georgia Railroads, have been current In the
CITY for several days past. We first heard
of this rumored change in railroad sffa airs
upder circumstances which seemed to give
IL more credence than is usually attached to
vaccinations and supposidons, though not
believing that there was any immediate
nrospect of the change, no mention was
TTade OF It in these columns. The rumor was
doubtIess the result Of erroneous co1ciu-
sto0s being deduced from certain events
rbsr have t-snspired Of late, and from the
fsc. that President Wsdley, on account
Of his health, had expressed desire for
rest as his duties were too onerous. As
Mr.. Wadley and Capt. Rsoul, Vice Presi-
dent Of the road, were absent from the city,
their statement in reference to these rumors
corId not be obtained. The reported
changes have ohtsined currency In
New York, Augusta, Atlantis and other
n 1in,s. and It is proper TO state now that
those whose position In the management OF
the Central is warranty that they know
whereof they speak deny positively that any
such movement is contemplated. inere Is
no desire or intention TO break the lease OF
the Georgia Railrosd, as It is considered q
most pro ftable arrangement
In regard to Mr.. Wsdley's Tumored Tes!g-
marion n could be said that at the last
Meeting of the directors that gentleman had
asked for two months leave OF absence fer
regeneration, which was readily granted,
and with privilege Of extending It to
such period as might be desired.
There wss nothing said about his resigna-
ton. and such action was not contemplated
and would be regarded as q calamity. The
deficit in the exhibit OF the Georgia Rail-
road IS accounted for by the fact that IesrlY
$500. 600 were A pended in the improvement
of the road aud increase Cf rolling stock.
An examination OF the affairs Of the COM
pspy gives good reason to believe that the
earnings OF the road will be largely lncreas-
ed mex peas.
l. NAV Be assumed as q fact that there is
to be no change in the management Of either
the Central or Georgia Railroads, at Ieas',
for soma time to come.
Col Pn'nisy, President Of the Georgia
Railroad, who has been interviewed on the
subject. said to q representative OF the Au
gus q Chronicle
There had not been the remotest idea Of
breaking the lease OF the Georgia RIilroad.
NJ power on earth could break it. The
million and half dollars worth OF security
given by the lesSees guaranteed the lease
beyond sll peFadYen,ure, ana there has been
no thought on any side OF breaking 1t. TIE
courts might decide that the Central r iil-
road could not hold Mr.. Wadley's share Of
the lease, kut the Georgia Railroad did not
know the Central in tue transaction. Mr.
Wadley was the lessee
They desire Mr.. Wadley to continue Presi-
dent o. the Central Railrosd snd NJ was
perfectly satisfied that Mr.. WsdleY had no
intention OF FesigniDg,h