The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-06-25
THE MACON AND ATLANTIC.
The Road All Right and to Be Pushed
to the Sea.

The Road All Right and to Be Pushed
to the Sea.
The Macon Telegraph says prospects now
seem good for the completion of the Macon
and Atlantic railroad to ColIeton within six
months, and the road may be taken out of
the receivers hands on Saturday.
The New York stockholders have come to
the rescue and have pointed out way to
the promised land" The telegraph adds:
The stockholders and directors of the con-
struction companies mean business this
time. Those who command the largest
amount of money are determined to put
their shoulders to the wheel and help the
corporation out OF the mire.
The Macon Construction Company ap-
pointed finance committee to whom all
matters OF expenditure will have to be re-
ferred. The conn ittee consists of II. J.
Lamar, ST., W. B. Strang, A. Bacher, A.
Schneider, and w. B. Sparks.
The Macon and Savannah Construction
Company appointed an executive commit
tee, which will have supervision over all
the operations of the company. This COM
mittes is composed of H. J. Lamar, ST., w.
B. Sparks, and 8. r. Jaques.
Although Mondays meeting of the direc-
tors was held with closed doors it is practi-
SoAy hhOWh thaO buo company mas T6ls6Q
81 600 and that work on the Macon and
Atlantic may be resumed at an early day,
possibly by July Is.
This achievement Is said, on good author
ity, to have been brought about by New
York stockholders, who are interested to
the extent of 100000 In the enter
prise. 3. Stein OF New York is
said to have been the prime
mover in the whole matter, ably
III t,wrn
Tar-seeing nnanciers decided upon q plan of
action before leaving New York. Both are
wealthy men, and both possesses great In
fiueoce In financial circles. Their rating is
very high, and they command respect and
confidence among the heavy capitalists of
New York city. They came here with their
minds made up and determined that the
Macon and Atlantic railroad should
be built or that they would get
rid Of their interest in it at once.
As a proof that he meant business and
wanted the ball to start rolling as soon as
possible Mr.. Stein has invested $50, 900
more in the enterprise since coming to
Macon. Messrs Bacher and son and
Schneider and Stein have gone to New
York.
( Convinced that the Macon and Atlantic
road can now be built, and that sufficient
money is forthcoming TO pay OFF its indebt-
6uueSs, peLltlOu mas been uleQ Dy u. ..
McTighe 81 Co. to have the Macon and
Savannah Construction Company taken
out Of the hands of the receiver. MoTighe
g. Co. are the parties On
whose petition the receiver was
appointed. 1t is not considered likely,
however, that the receivership will be dis
missed before next Saturday, which is the
day set aside by Judge Miller for the con-
sideration of such matters. 1t is believed
that solution of the whole difficulty has
beed reached, and that the Macon and At
lantic will at last be built. If so, it will be
a welcome relief to many people who have
money owing them by the company, which
they had begun to despair Of ever collect
ing. 1t will. directly or indirectly, turn
about $500, 900 loose in Macon. The exact
means by which the money has been raised
has not yet been made public.
Some say it was by floating the
bonds and others say that it was borrowed
on good and sufficient collateral. But few :,
however, will stop to ask where the money
comes from so long as it comes. About 121
miles Of the Macon and Atlantic railroad
has been graded, leaving sixty-six miles
more to grade. The right of way has nearly
all been secured Fifteen miles of track
has been laid both ways from Brewton.
Enough rails and crosstiss are on the
ground to lay twenty-five miles more. All
these have been paid for. 1t Is said that
with plenty of cash on hand the Macon and
Atlantic road could be built, equipped and
put to running within six months.