Savannah morning news. [volume] (Savannah) 1868-1887, 1886-12-08
AN APPEAL FOR PROXIES.
A Few Words to the CentraPs Stock
holders.

SAVANNAH, GA, Dec. Z, 1eS6.-Stock-
holders Of Georgia Central railroad: 1t
has become necessary to appeal TO you
through the press to unite'in an effort to
rescue the management Of your property
from board which mas deprecated 1t for
years, and which now attempts to pre-
vent fair election by illegally refusing
to allow the opposition access to the list
OF stockholders, while they themselves Sc
cure the proxies or a very large number
of distant and scattered stockholders by
circular which you have all received.
lou can now judge for yourselves whether
that circular was the ingenious state
ment due from the trustees OF the
property to the ''cestuis que trust"
when asking reelection, and also as to
| the sincerity of the implied wish TO have
fair expression of Opinion by the MAORI
ty. The correspondence in regard to the
list OF stockholders has been published,
and copies will be furnished upon re-
quest.
respectfully submit to your sense of
what is ialr and just in any business
dealings, and 10 your general knowledge
OF the obligations which trustees owe 10
the parties whom they represent, that
this refusal is an once uncandid, and
most illegal and high handed-effort to de-
course the courts will override their re-
fusal by mandamus, but meanwhile the
delay will greatly aid their purposes, as
the election occurs on Jan. 3, and the
stockholders are scattered from Vermont
to Texas and much OF the stock is held
abroad.
Such an arbitrary use OF official posi-
ton to perpetuate tenure of office has
scarcely been equaled, even in the IA
NJ Fri 4
raises an issue in which the sympathy OF
every fair minded man, and the interests
OF every stakeholder, must be against
them. The men who would make their
annual reflections but hollow mOckery
are scarcely desirable as trustees, even
were the record Of their trusteeship
otherwise satisfactory.
But respectfully submit to the stock
holders that the VIGOROUSLY unsatisfac-
tory results Of the present management
have been the sole origin OF the present
movement for change. When it began
the stock was about 10, although all other
railroads in the country had long since
begun rapidly to recover from the de-
preston of 1893 and 1884.
But the increasing monthly earnings of
the Central railroad were kept secret, and
leading directors actively and openly
sought to Keep down its market value
upon any indication OF it's rising. Names
and facts can he furnished any stock
holder desiring them.
The annual reports have failed to give
stockholders important Information,
which was their due, as to property &C
quired and valuable contracts made. The
property and interests OF the stock holders
were suffering acutely, because the man.
sgement either did not understand the
great value of your property, or else, IN
derstandIng it, they kept the information
| to themselves.
| The present board would never have
been disturbed had they done the prop
erty justice. Now that the facts as to the
! value OF the property are understood and
! lndorsed by its price in the market, the
| directors admit them as openly as they de-
serted the stock a few months ago.
! But their very attempt TO defeat a fair
! election, by delaying to the last our efforts
to ind and communicate with our fellow
! stockholders. is a confession of the weak
ness OF their cause. They have attempted
| In the press to eVade the real issue and
pretend that it is one of localities only
The idea is absurd upon it's face. A man
agement, which represents millions of
money invested in Central railroad
| stock, must know no North, no South,
no East, no West, but simply the Cen.
trail railroad stakeholder. The property
Will be managed for his benefit, and a
wise management will seek to benefit him
| by building up,ln every way, the towns, G. T.
| les and country which the Central railroad
was built to serve. Any other policy
| would be that OF lunatios who might in
| vest money Tor the sole purpose of losing
| il.
/ respectfully ask your proxies to be
| sent to me in this city.
K. 2. ALEXANDER,