The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-04-06
SULLY TAKES THE TRICK.
THE RICE-LIBBY PARTY BEATEN
AT THEIR OWN GAME.

The President Hands in His Resigna-
tion to Take Effect April IL 49, A
Probability that the Present Board
Will Elect Gen. alexander to Sue
ceed Him.
New York, April5-The Richmond Ter
minal directors met this afternoon and the
minutes of that meeting are we'll calculated
TO make something of panic in the Rice
Libby party 1t was generally. understood
from the recent correspondence between
that faction and Mr. Sully that the new
party would have little difficulty hence
forth in completely mastering the situation.
The outlook tonight is entirely changed,
and the present administration has gained
an immense advantage. 1t is said that the
Rice-Libby people confidently expected
that Mr.. Sully would hold the Presidential
fort until the stockhol ,ers should meet in
May and then resign, when they would be
in position to elect his successor
MIR. sULLY RESIGNS.
Instead of that Mr.. Slllly resigned this
afternoon, his resignation to take effect
April IL. This enables the present board
to elect whoever they choose as President
at that time, and there is no reason why
they should not elect Gen. +. p. Alexander
himself, who the Rice-Libby party have
publicly insisted was the best possible man
for the place. The directors, after accept
ing Mr.. Sully's resignation to-day, passed a
resolution which clearly shows that they
are resolved to make united stand against
the opposition and give battle to the bitter
end.
DECLARATION OF WAR
1t is as follows
WHEREAS, This board aud its policy is being
publicly attacked in the newspapers of this
city by advertisement.
ResOlUei, Tuat this board will resist in every
proper manner the transfer of the control Of
the Richmond and West Point Terminal Rail
way and Warehouse Company into the hands
of a rival corporation.
The resolution was unanimously adopted.
Every director as present except James
Swami. Even John II. Inman, Emanuel
Lehman and John Ii. Hull, whom the
Rice Libby party have said would be on
their directors ticket, voted for the resolu-
tion, thereby proving their allegiance to
the present board
WHAT MR.. SULLY SAYS
Mr. Sully was seen after the directors
adjourned and asked if he had anything to
say with reference TO the proceedings of the
meeting. He simply replied: Having by
my letter to Messrs Rice, Libby and Clark
indorsed their request for called meeting
of the Terminal stockholders with view to
making material changes i'll the present ad-
ministration. l did not feel that it was
proper for me longer to continue rs Presi-
dent of that administration, and therefore
resigned.
GOING TO EUROPE.
"In addition to that consideration ] was
somewhat influenced by the fact that / am
making my arrangements go to Europe,
and desire TO go under as little care and as
free from responsibility as possible. | am
now entirely out of Terminal affairs. and
do not propose to take any part in the pend
ing contest between the dissatisfied stock
holders and the present board of directors.
l shall devote myself strictly to my own
personal business, which for a long time
my official duties and engagements have
caused me to seriously neglect. l have
nothing further to say"