The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-12-10
TERMINAL NOT TO SINK.
THE MEN NOW AT HER BACK WELL.
NIGH INVINCIBLE.

Difficulty In Floating Railroad securi-
ties During the Financial squeezs
the Only Cause OF the Trouble-Presi-
dent Inman Says the appointments
of the Committee Means Only Good
For the Company.
New YORK, Dec. John II. Inman,
president Of the Richmond Terminal Com.
pany. returned this morning from attends
ing the annual meeting Of the company yes
terdaY at Richmond, Va When asked by
reporter If he had anything to say In re-
ply TO the criticism of Gen. Thomas that the
committee did not represent a majority OF
the stockholders, aud that the large holders
OF stock were perfectly able t. manage
the oompany's affairs without outside as
sistance, Mr.. Inman said: 1.-THE appoint
ment by the stockholders of the COMMITTEES
OF able finanoiers to aid the company i'm
perfecting the best plan for permanent ads
justment of It's affairs does not indicate any
belief on their part, or on the part Of the
present management, that the Terminal
company, or the system OF roads it controls.
are Overwhelmingly involved.
THE ONLY EMBARRASSMENT.
"On the contrary, as shown In the annual
report, the Terminal company owes nol
| floating debt whatever, and the real en-.
| Darrassment in the situation arises from the
fact that the railroad companies have not;
been able to sell their securities at satisl
| factory prices TO meet their engagements.
There is no Disgusting the fact thaE the prices
OF our securities indicate the great want OF
| conndence in the situation. IL must be APP
parent to any unpretudiced person that the
most Important work before the company
Is TO secure thorough restoration OF public
confidence. | can readily understand that
all OF those who had hoped TO see the Term
inal system disintegrated feel disgrunI
tied by the appointment Of CONS
mittee, but those whose only ob1ecn
is to build it up and put 1t upon a sound
financial footing should look With pleasure
TO the aid and cooperation Of such men as
tho stockholders have appointed. The CONS
mittee. have e!ested Mr.. Norton chairman,
and will presume. proceed at once to the
work In hand. In fact, they have already
begun the work and have asked for some
accounts. figures, etc, which are now being
prepared for them. have nothing further
70 say on the subject"
WALL STREET MORE CONFIDENT.
In Wall street the opinion was very gem
orally expressed that whatever course the
committee recommended would in all prob
ability be adopted. ut is pretty difficult
w JUN okaihss auy ytulnB Tue OiK trust COM
panies undertake to carry through" said
one prominent broker, "and It is noticeable
Ia this case that not only the Central Trust
| Company, by Mr. Olcott, It's president, who
rs himself well nigh iuvincible in matters Of
this Kind, but the New York Security and
Trust Company, Mr.. Fairohild president,
and the Mercantile Trust Company, Gen.
Lewis Fitzgerald president, are represented
on the committee. Whatever they report.
therefore, ia very likely Co 90 through, Gen.
Thomas TO the contrary Notwithstanding.
The laws of Virginia do not pers
init an assessment on the stock
OF corporation, tho broker said
to-day, but he expressed the opinion that
when the report Of the committee is made
it will be found that that Is practically
what the committee will recommend, and
to the amount Of Is per cent in return for
preferred stock at so, which would really
make the assessment only M per cent.