The morning news. [volume] (Savannah, Ga.) 1887-1900, 1888-10-30
INSIDE OF THE BIG DEAL.
BROUGHT ABOUT BY A ROW IN
THE GEORGIA COMPANY.

Mr.. Inman Did Not Like the Way
Things Were Running and Forced {
Sale ofthe Majority Stock-His Differ
ences with the Rollins Faction-Prob
able Changes in the Georgia Com
pany's Directory-A Movement tc
Reinstan Capt. Raoul as President
fthe Central
There is some inside history to the Termi
nal deal which is just leaking out. II
seems to put new phase on affairs, and
there is no telling what will come of it when
the reorganization takes place.
A very well posted gentleman, in the
course of an interview with a MORNING
NEWS representative yesterday, was asked
if it is true that there was a great deal of
dissatisfaction in the directory of the Geor-
gia company.
Eyes, there was some friction in the di-
rec DRY which led up to the deal"
"What was it aboutr
"Messrs Hollins, Dennison, Rice, Belmont
and others held 81, 900 shares Of the Georgia
company's stock, and the Inman-Calhoun-
Hartridge party held but 10000 shares.
The majority party was acting without
having shown the courtesy to invite Mr..
Inman to share in their counsels. he
HollinS party, went ahead and decided to
issue bonds and build more railways with
out any consultation with the lnman party
and the first knowledge Mr.. Inman had of
it was when he was notified of meeting to
ratify the action Mr.. lnman did not like
the manifest discourtesy nor the establish
ing of such precedent.
MR.. INMAN's OFFER.
Besides he wanted to go slow, and he at
once made a proposition t0 buy or sell.
The first proposition made by the Inman
side was to buy or sell at IS. A second
proposition was made to buy or sell at 80,
but nothing came of it. When the majority
refused either to buy or sell, Mr.. Inman
gave them to understand that he would
take steps to prevent their issuing any
more bonds, and this led to the acceptance
of IS, the Terminal company becoming the
purchasers
"Win the Terminal company retain the
Georgia companyp
81 think it will 1t can retain it or dis
pense with iu as it sees fit, but think the
Georgia company will be retained"
"What changes will likely be made in the
Georgia company directoryw
PROBABLE CHANGES IN THE BOARD.
"Of course Hollins, Dennison and Rice will
20 out of the board, and their places will be
filled, think, by the election of Mr.. Hall,
Judge Chisholm and Pat Calhoun Mr.
Hall will be president of the new board"
"If Mr.. Inman was opposed to issuing
bonds and building new roads, what effect
will it have upon the contemplated con-
struction of the Eden extension to Ameri-
cusp'
SIT is very doubtful whether it will be
built now"
"Will Gen. Alexander be retained as
president of the Centralp
II am inclined to think SO. / am pretty
sure that Mr.. Inman is very well satisfied
with Gen. Alexander and his board, and
pleased with the manner in which they have
conducted the affairs of the company. At
the same time IL is not to be denied that an
effort is likely to be made to reinstall
Capt Raoul.n
PUSHING CAPT. RAoUL.
"Who are pushing Capt. Raoul 2"
"Mr. Swami, Mr.. Inman's partner, is
understand, a Raoul man, and Judge
Chisholm is a very warm friend of Raoul's"
where does Mr.. Inman stand 2"
"He is like a sphinx on this subject, and
] cannot tell. 1t is not to be denied that
Judge Chisholm has great influence with
him. but whether it will be exercised to Gen.
Alexanders detriment | cannot say beyond
what | have said, that | think Gen. Alex
ander and his board will be retained"
When asked what are the ultimate objects
OF the Terminal company, and if it means
general trust of all the principal southern
IiHiroads, the gentleman declined to discuss
tAs subject, remarking that rs did not feel
at liberty to express his opinion as to the
future plans of the company.
How has the deal affected the stock of
the Terminal companyW
Very favorably. 1t has gone up four
points-from 25 to 80
WILL NOT LIST CENTRAL.
"Will Central railroad stock be listed on
the New York stock board, since the Ter
minal company has controlF
''No. l think mott
"What does Mr.. Inman mean when he
says that he will take all the minority stock
of the Central at 126l'
"He wanted to show the minority stock
holders no doubt his confidence in the
property. or course it is not all for sale.
but | think he would buy 900 or 1000
shares. If any stakeholder thinks the stock
will depreciate since the Central has pas ed |
from the Georgia company Mr. Inman
stands prepared to buy the stock at 1867
''What about the validity of the lease of |
the East Tennessee Virginia and Georgia |
TO the Terminal companyf'
"There is no doubt of its validity. Before
the lease was consummated the legal opin- |
ions of some of the ablest railroad LAWYERS
of Virginia, Georgia and Tennessee were
consulted. and they passed upon it, holding
that there could be no doubt of its being
legal. This opinion, too, was shared by
Judge Chisholm"
Gen. Alexander is still in New York. no
doubt looking after his fences.
FOR THE MARTIN FUND.