The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-04-17
INMAN IN SULLY'S SHOES
THE RGCE-LIBBEY PARTY TO BE
FOUGHT TO THE END.

va AAtAAeA 1bOSnAl4oAQST 10 M00U way
81 to Vote for Permanent President
Indications Point to the New
Oficer's Retention Stock Being
Transferred at a Lively Rate.
NEW YORK, April 16.-The Richmond
Terminal directors met at noon to-day, and
by unanimous vote elected John H. In
man, President. This news few like wind
through Wall street, and the effect was all
that Mr.. Inman and bis friends could ahve
desired. 1t was universally acknowledged
that his election was the best possible thing
that could have happened for the welfare
of the Terminal Company, and the improve
ment of its securities Mr.. Inman himself
was the only absentee when the directors
met, aud as soon as he was elected a COM
mittee was appointed to notify him.
ACCEPTS THE HONOR.
In response to the notice he went at once
to the companys office, where the board
was in session, and after formal acceptance
of the honor which had been done him,
took the presidential chair aud presided
during the remainder of the meeting. The
directors also ordered that meeting of the
stockholders be held at Richmond, Va, on
may ble Hubu WI. 1uiitslAi hul lLc pICotuJ
board Of directors will stand for reelection
by the stockholders, in opposition to any
ticket that may be offered by the Rice
I4ibbey party at the same time.
STOCK ADVANCES.
The trading in both common and pre-
ferred Terminal stock has been very heavy
on the Stock Exchange to-day, and after
the announcement of Mr. Inman's election
TO the presidency, the common stock ad-
vanced a,full point and the preferred Jumped
up over three points. This is construed as
substantial evidence of Wall streets in-
| dorsement of Mr. Inman's election.
1t is pronounced on all sides an admirable
piece Of generalship on the part of the pres
ent administration, and it is said in no
whisper that it will result in the overwhelm-
ing defeat of the Rice-Libby party. Their
| chances of success are certainly not as prom
ising.
HoLLINs A JONAH.
Some say that H. B. Hollins has proven
the jonah to Mr.. Rice and his other associ-
ates He is not popular in the street, and
| is apt to prove a dead weight to any deal
with which he is prominently identified
| The action of the Terminal directors to-day
binds the present administration unani-
mously together, and makes the battle from
| now ON impossible to compromise For the
mako clean sweep of the powers that be
without single exception. The fight Is by
no means over, but gives every sign to-
night of increasing bitterness until one side
or the other is crushed in defeat at the cleo
tion on May 81.
ADVANTAGES OF THE ELECTION
Calvin S. Brice is credited with the genius
which shaped the events of to-day. He
said to the NEWS correspondent tonight:
"The election of John II. Inman to the
Presidency of the Terminal Company Is the
best guarantee which the stockholders could
have of faithful guardianship Of their in
terest. Under the administration of a man
as strong, able and conservative as he is
well known to be, the Terminal Company
can easily float 100000 worth of IT'S
treasury securities at good prices. and thus
be enabled to practically pay off It's entire
bonded debt without losing control of q
single railroad property now embraced in
its vast system. This policy no doubt will
be inaugurated by Mr. Inman, and its inn
mense advantages, together with the wide
confidence which he will inspire in the
property, will, in my opinion, make in the
near future the normal price OF Terminal
stock over $40 a share"
WAR TO THE KNIFE.
Mr.. Brice further said: "Ihe recent
declaration of the Rice-Libbey party,
made in the guise of an effort TO harmonic
matters, but which provided for their gain
ing control of the Terminal, evidenced so
clearly their Interior objects and intentions,
that il was impossible for the present board
to treat with them at all with reference to
anv sort of compromise The present ad-
ministration feels that it has been wantonly
attacked. and we are unanimously resolved
to meet the issue vigorously. and consent to
no half measures"
INMAN'S PROMISE.
Mr.. Inman says with reference to bis
election: ~ have accepted the position at
the hands OF the present Board Of Directors.
They have been my associates heretofore in
the management OF the property, and with
them am ready to stand or fall. sIhe lines
are distinctly drawn between the present
admins ration and the new party striving
for control. 1t will be left with the stock
holders to say on May 81, whether we shall
be continued in Office or made to give place
TO others. The request of the present di-
rectors that | accept the Presi-
dency was cordial and unani-
NOUS. In addition TO that
was strongly urged to do so by many large
bona fide stockholders. / have accepted,
and in that act itself is my pledge to faith
fully discharge, as best | can, all the re-
sponsble duties which attach to the Office,
and 10 promote, as far as possible, the vast
aud varied interests of the property"
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