The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1888-10-30
The Richmond Terminal, Deal.

lnc Allunm 'OH"HHfOh ol SdluIuh1t
October %, sayr For the last forty-eight
hours the contracting parties TO the big
Richmond Terminal.Georgia company deal
have been repeatedly aud forcibly re-
minded that there is many n slip 'twixt
the cup and the lip" There have been Il
series OF bitches IN closing the transaction
that at times made IL look like "the fat
would be knocked in the fire"
At q late hour this afternoon, however,
the last finishing touches 10 the affair were
given and the matter was absolutely
closed. All the purchase aud sale papers
were signed, sealed and delivered, with u
certified check OF the Terminal company
for -, 800. 600 given 10 representatives OF
the Georgia company that being the cash
payment required by the terms Of the
huge bargain.
II In rumorcd tonight that the Terminal
company will very soon issue Sl6,OOO,0OO
Of 3 per cent. collateral trust bonds, aud
with the proceeds from their sale retire the
outstanding s, 1000, 900 Terminal preferred
stock. and likewise all the outstanding q
per cent. Terminal bonds amounting TO
about sG,OOO,0OO, aud with the balance
realized from the salc Of the new bonds
pny what remains due on the purchase OF
the Georgia company stock.
II ~ said that Mrs.rs. Drexcl, Morgan <
Co, who II Is very generally thought will
IN future he the fiscal agents OF tho Termi-
nal company, and also Of the Central Rail.
way and banking company OF Georgia,
have Expressed perfect confidence In be-
| ing able to float the new loan promptly
aud ON excellent terms for the Terminal
company.
W. T.. Clyde, originally one Of the lead
Ing spirits In the Terminal company, aud
who practically controlled Il NJ its organi.
zatiun, was s'un today aud asked for his
views ON this weeks enormous deals. Mr..
CLYDE said.
Everything that has been done viii bo
| found copper fastened aud beyond the
reach Of Interference by reason Of the won
dcrtul powers embraced In the Terminal
compnny's charter
| II got that charter myself, and when |
WIS having Il drawn IN Richmond, nearly
ten years ago the lawyer acting under my
Instructions repeatedly stopped short Ia
dmughung u at some provision which
wished him To cmbody and said that such
thing could not loo gotten from any leg
stature on earth. would simply reply
81 him, all | ask Of You " 90 look 10 II
that the instrument when finished under
your hand will hold IN any court, provided
the Virginia Legislature should pIss
u Hence, whcu the document was
| uady ~ go 90 the legislature IL was
| framed 81 that its legality could never be-
Que toned Tho Legislature passed il
| lust ~ my lawyer had drawn n, and there
| h nothing IN the whole range ol railroad
scicncc aud development that cannot hc
accomplished under the provisions Of that
charter. The deals Just made by the Ter
minal company IN leasing the East Ten.
ncss1c, Virginia x Georgia road 10 the
Richmond q nauyillc, and buying the
control Of the Georgia Central are the best
things Tor the south that have happened
since the war The policy thus adopted
iusurs al the advantages that are tu bc
had through concert Ut action, harmonious
relations aud consolidated power. II is to
thr railroad situation ol the south what
our national government Is 10 the various
states. Every separate line will be pro-
trctci Ia %, individual rights and indie.
pendent operation, while at the sam, Time
there will Doe creator strength, greater ciii.
cigncy aud gvai.r prosperity to oil by
this harmonious com llidutiUn ui Interests
Ahu htNlAN cnulFtWlhn oi mNnNHrmchb
u h nu longer a secret tdat stops have
already been taken tp tct the validity OF
The lease OF thc East Tennessee. Witch
was male thp other day to the Richmond
q plnyllc. Several cntcrprisiug attor.
ucys arr reported io be- nov engaged In
hunting iur vulnerable points ui aliurk.
! THIS attempt t1 Interfere l. snid to Dee in
spircd by parties identified with the Nor.
, iolk 4 Mcflcn In retaliation lor the blow
that was given that roll hy the closer al
lance cutclcd between The El,i Tonnes.
sec and the Richmond \ Dauyillc by the
lease.
Gen. Samuel Thomas, president Of the
Ea.t tennessee, said tonight Eve arc
luily aware oi what i giving on aud feel mo-
y concern about TO- II will simply prove d
flash Ia lho pan that will expose the spirit
ui lis projections without accomplishing
their spityluI purpose.