The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-03-28
AFTER GEN. ALEXANDER
THE PROGRAMME OF THE RICE
LIBBEY SYNDICATE.

Acq uirement of Control of the Rich
mond Terminal Company to be Fol-
lowed by the Election of the Geor-
gia Centrars President as Head of
Both tho Terminal and Richmond
and Danville Systems.
New YoRR, March 27.-The programme
OF the Rice-Libbey party, now antagonizing
the present management of the Richmond
Terminal Company, has about crystalized.
The much Wall street talk on this subject
lately has been rather scattering and conse-
quently an authoritative statement of the
matter is of exceptional interest The fol-
lowing was furnished the NEWS correspon-
dent tonight by one prominently indentified
with the Rice-Libbey party 1t clearly de-
fines their intentions and objects. He says:
MY associates and | have no personal
grievance against any member of the pres
ent terminal Board of Directors, nor have
we any disposition to attack them per-
sonally. We are making war not on men
but measures The present directors are in
charge of a great property in which my
friends and have large interests. We do
not approve the present management of that
property, and ON purely business principles.
We are determined to change that manage
ment if we CAM
CONFIDENT OF SUCCESS
On being asked what were the prospects
for the success of his programme he replied:
1 regard our success as absolutely assured,
and verify believe we will vote large ma
Jority of the capital stock at the contem-
plated called meeting. Our policy is open
and above board. We simply insist on
putting men in charge of the property who
Re inf hair
GRAFTON and who will not subordinate it's
welfare to the promotion of individual
schemes, or to the benefit of side issues"
do you think the directors whom YOU
may elect will, by their personal character
and general reputation give the assurances
you suggestP
Unquestionably, and with that in view,
we are selecting them very carefully
THE MEN SELECTED
us your ticket yet compIetedP'
"No. We have determined on only twelve
men. whereas the Terminal Board consists
OF seventeen. The gentlemen thus far Sc
lected are: Gen. L. =. Alexander, now
President of the Georgia Central railroad,
and Messrs John II. Hall, H. b. Hollins,
Emanuel Lehman, E. w. Clark, William
Libbey, Robert Colgate, Thomas Janney,
of Baltimore; John II. Inman, James
Swami, August Belmont, Jr., and Isaac l..
Rice. OF these twelve only Messrs. Inman,
Swami, Lehman and Hall are members of
the present board"
Mr. Rice himself says, in determining the
i've yet to be selected, that no other MEM
Der of the present board will be chosen.
GEN. ALEXANDER TO BE PRESIDENT.
He further says that if his party get con-
troll Gen. E. 7. Alexander will be at once
elected President of the Terminal Company.
In answer to the suggestion that this move
was probably with the idea of consolidating
the Georgia Central railroad and the Termi-
nal Company, Mr. Rice says most positively
that no such intention is contem-
plated. On the contrary he avows
that he and all his associates with whom
he has discussed that suggestion are posi-
lively opposed to any such action. On
being asked if Gen. Alexander would prob
ably accept the Presidency. he simply re-
piled: I'VE would hardly offer it to a man
who was likely to decline"
THE RICHMOND AND DANvrLLE.
With reference to the Richmond and
Danville, of which the Terminal owns a
controlling interest Mr.. Rice says the
management of that road will also be ma
terially changed, aud that the Presidency
Of that road will also be rendered Gen.
Alexander, thus making him the head of
both the Terminal and the Richmond and
Danville, as Mr.. Sully was prior to that
last election. Mr.. Rice added: "If wa
acquire control our sole object will
be the material development of
all the railroad properties embraced
in the Terminal system, and our first act
will be TO make a thorough examination
into the financial and physical condition of
the property and publish in absolute truth
the result of that examination, so that the
public may form n fair and intelligent
Judgment as to the intrinsic value of the
Terminal stock and other securities of the
company"