The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-09-13
A TERMINAL COMPROMISE
CREDITORS WILL PROBABLY
GRANT AN EXTENSION.

Most of it's Obligations Time Loans
One, TWO end Three Years to be Sc
cured-DrBxel, Morgan & Co. to Man
age the Finances OF the Roads-Mr
Calhoun Interviewed
NEW YORK, Sept. 12.-Neither President
Ynman nor Edward Lauterbach, counsel of
the Richmond Terminal Company, were in
the city to-day and no authorized denia Is
could be obtained of the rumors of a re-
oeiver. It was stated, however, by other
officers that a plan to fund the floating
debts of the Richmond Terminal to
three year notes was progressing
rapidly and that creditors representing two
thirds of the total floating debt Of $4,000, :
900 had agreed 20 the extension. 1t is also
reported that Drexel, Morgan & Co. have
assumed the task of managing the financial
affairs of the different companies. Nearly
all the obligations are said to be time loans,
although part of the debt is on account of
money borrowed on call.
Mr.. CALHOUN SEEN.
ATLANTA, GA, Sept. 12.-The NEWS cor
respondent called to see Mr.. Calhoun at b is
office this afternoon and asked him what ne
IL.
MIR. Calhoun replied that he had nothing
TO say. that he regards the attacks in New
York as simply another effort to break
down the credit Of the railroad properties
controlled by the Terminal company. that
so far as the Terminal company itself was
concerned IL had ample assets In its treasury
unp7edged TO meet any and all of its liabili-
ties, and that 30 far as the railroad
companies were concerned, each and
all of them had securities
which at their market value were worth q
great deal more than the amount of their
floating debts, and that the effort Of the
enemies Of the system was to prevent the
sale of these securities in order to prevent
the payment of the floating debts.
EFFECT OF THE AGITATION.
In reply to the question whether he
thought the railroad agitation in Georgia
had anything to do with the matter, Mr..
Calhoun said that it undoubtedly did, to the
extent that it was used by the enemies of
the Terminal system to create the impress
I sion that the people of Georgia were antag-
8 onssic to railroads and desired to see the
4 Terminal broken to pieces He said he knew
& of his own knowledge that this line of argu-
ment was freely used by those desiring to
injure the credit of the Terminal property,
aad he regarded es very significant that the
3 Berner bill was reported night before last,
@Nc~AD
about the Terminal company should be re-
vived in New York, and this new attack
made upon its credit and Its securities.
IA DISCUSSED IN WALL STREET
The affairs of the Richmond Terminal
s accompany were further discussed in Wall
ttreee to-day. and the unfavoraole view
taken by traders was reflected in q sharp
decline in the stock. According
10 the Tribune, friends of
the company professed confidence
that no receivership would be needed to
adjust the floating debt Of the controlled
Companies, estimated at S9,000,000. 1t is
paid by some persons who are well informed
that the discussions in the board of directors
have reached a point where serious cons
plications may arise.
GOULD'S AIM.
1t is balieve1 that Mr. Gould is desirous
pf securing absolute control of the system,
svhile the Brice-Thomas faction and Mr..
Inman and his friends have had differences
pn points Of policy. Unless there is a re-
concilation litigation may be precipitated.
Some persons think that a new IDEAL" Will
: Pc the outcome of the situation and that in
4 fh9t case the Gould interest will be found
20 be 10 the ascendant