The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-04-03
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BRYCE WILL NOT FIGHT.
HARMONY ESSENTIAL TO THE
TERMINALS PROSPERITY.

~ioAA' AAOhao lakes Inc same FOSl"
tion-They Explain that They were
not Connected with the Management
when the Big Changes were Made
Gen. Alexander North.
NEW York, April Calvin S. Bryce
and John u. Moore, the two Terminal
directors who have for several weeks been
doing the tourist act so extensively through
Florida and other Southern States, returned
to-day. Their temperance in Wall
street was matter of con-
siderable interest, owing to the
general concern which was felt as to the
position they would assume in the terminal
squabble. Mr.. Moore has neither said nor
done anything during the day to indicate
exactly how he feels in the matter.
but Mr. Bryce has spoken with
no uncertain sound. He made
public statement this morning through
Wall street news agency with reference to
himself and his partner, Gen. Samuel
Thomas, that was both comprehensive and
unequivocal, and on that very account ID
was well received in Wall street.
WHAT HE SAYS.
The pith Of the statement is as follows:
bers of the Terminal or Richmond and Dan.
vile boards when the present capitalization
OF these properties was made or whe the
purchases of the Richmond and Dan
Vile or East Tennessee, Virginia
and Georgia and other properties were
made by the Terminnl Board and no change
in the capitalization or position Of any Of
the properties has been made since we be.
came members of the Terminal and Dan
vile Boards We did not seek positions as
directors in the Terminal or Danville
companies, and only accepted them at the
request of the Board of Directors as they
then stood, and at tho last election it was
only on account of our large interest in the
Terminal securities that we consented to
serve when some Of our friends declined.
WON'T MAKE A FIGHT.
1--WE never sought TO, and do not in fact
dominate or control either Of these proper
ties, and Will decline to continue as mem-
bers of the boards of directors Of
those companies in case of se-
rious contest among the stockholders
or in the management, as in our opinion it
will require the united support Of all per-
sons interested in Terminal securities TO give
reasonable hope of the outcome to which
their share Of the growth of Southern busi.
ness entities them. We have for many
years been associated with the East Tennes-
pany, and at the request of the Terminal
Board have continued in the management
OF the East Tennessee Company without
desiring TO interfere with or control any Of
the other Terminal properties, except to in
sure the harmonious operation of all and
settle fairly any differences between them.
WILL WELCOME NEW CoMERs-
Instead of desiring TO control the Termi.
nal property we would welcome the addi-
tion and support of any persons able to as
sist in the direction of the properties in the
Terminal system, and are entirely willing
to yield our place in the board OF
directors to any such persons. We
wish 1t distinctly understood that we at no
time have and are not now soliciting proxies
or otherwise making any efforts to keep any
places in the board of direction or manage
ment of the Richmond Terminal or Of any
of the controlled companies, or indeed any
other corporation whatever. We have had
enough experience of conflict to convince
us that it is neither pleasant nor profitable.
HE TAKES GLOOMY VIEW.
In addition to this public statement. Mr..
Bryce said personally to the NEWS corre-
spondent that he regarded the general rail-
road situation of the country at present en-
dangered by combination of serious
troubles. The strikes in the West, he said,
would entail incalculable losses to
the various lines of that section
and the several Southern systems were suf-
fering greatly through the hurtful conse-
quences of the interstate commerce law.
Under the exactions Of that arbitrary
legislation, he said, the Southern roads were
hauling freigbts at about one-half cent
ton per mile, whereas 10 earn even fair
profits thev ought TO get at
least % of cent. Under these dlscouraging
circumstances Mr.. Bryce suggested that the
lot Of a railroad manager was not altogether
happy one, and if there was to be any
contention for positions on the Terminal
directory neither he nor Gen. Thomas care
TO take hand IN the scramble
WALL STREETS OUTLOOK.
With regard to the general situation in
Wall street, he said that he saw no reason
able prospect for much Improvement in the
market for at least thirty days to come,
He hoped that within that time the Western
troubles would be settled and that the ad-
justment Of those difficulties would restore
the confidence Of the bulls and produce a
general advance in pricos
Gen. Il. p. Alexander is here, presumably
10 look after his own interests in the Ter
minal affair. 1t was rumored to-day that
President Sully would probably resign
within the next few days in favor of Gen.
Alexander.
The Terminal directors meet tomorrow,
when it is thought there will he important
developments. Contention in no other
Southern railroad corporation would excite
half the interest this has done. Its inn
portance is owing to the fact that by its
control of so many different lines the Ter
minal company is regarded as the greatest
factor in the whole Southern railroad
situation.