The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-02-01
GLOVER MADE RECEIVER.
THE ACTION TO BE CONFIRMED By
THE SAVANNAH HOLDERS.

The Appointment Believed to be Pest
for the Road-The Total Mileage OF
the Line 23o-The Bonded Debt
$3,92l. .ooO-The Original Mortgage
Bonds Paid Off in 1897.
ATLANTA, Ca, Jan. 31.-J. B. Glover
was to-day conditionally appointed perma-
nent receiver of the Marietta and North
Georgia railroad. The appointment was
made by agreement Of counsel and there
was no argument. the company having de-
cidsd it best to have a receiver In its pres
ent financial shape In order to avoid con-
tinual attachments. The attorneys for the
Savannah bondholders not being present,
Judge Newmans order ia subject to revision
by them, and win not go on record except
with their approval. It is presumed by the
other parties interested that no objection
will be made to Mr.. Glover's appointment.
Hegave bond in the sum Of $4,000.
THE MILEAGE
The mileage Of the Marietta and North
Georgia appears to be go 45-l00 miles.
This Is the figure found in the Central Trust
Company's declaration, filed along with its
application for a receiver, which declara-
tion is the oply document pretending to
give information as 10 data, and such figures
as it furnishes must, therefore, be accepted
perforce, though some Of the details mate
rally differ from those of other records.
In this document the mileage is divided
as followsi
In In Seorsis On main on !, l,s a;s line
In Georgia on branch Blue Ridge TO Muir
In S North Carolina on same branch ...... isOS
Total mileage. ..........................230 .230. -
Total In Georgia. II
Total nain line Marietta 70 Knoxville. ;. oo4 %
Total on Blue Ridge and Murphy branch. 25 90
THE BoEDED DEBT.
The Central Trust Company declares the
bonded debt OF the road 30 be s3, ,8el, 900.
with semi-annual interest at per cent.
due Jan. /, 1901, amounting 10 Sll4,630,
maf'ug total principal and interest," of
$685., $3.50.
FINANCIAL AGENT.
An affidavit Of file in tho United States
circuit court clerks office declares that de-
ponent knows that George r. Eager made
efforts TO raise mouey. topay Off the jan
uary coupons and failed.
The same affidavit shows Kessier a. Co.
to be the roads fiscal agents" in New York
city. Lowry's Bank in Atlanta is said to
have done the company's banking. J. d.
Glover Of Marietta appears in the records
sometimes as treasurer, sometimes as super
intendent.
MEMBERS OF COMPANY.
The only information / have SO far been
able to gather as to the members Of the
company comes from Secretary Hammett's
certificate and from the report of the rail-
road commissioners. The charter of the
company omifs TO mention its members as
such, Though In two instances commissioners
are named to open books OF subscription al
various places. Hammett on Feb. 14th,
1890, thus gave the names OF the roads
officers:
President Vacant at present
Vice President and Acting President
Lenox Smith, New York.
Treasurer--J. B. Glover, Marietta.
Secretary-H. NJ. Hammett.
REPORT OF THE RAILROAD COMMISSION.
The railroad commissioners' report July
/, 1897 furnishes the following:
Name OF Vice President-Francis Kend-
all Boston, Mass.
superintendent B. Glover. Marietta.
Ga.
General Freight Ageut--F. B. Chandler.
Marietta, Ga.
General Passenger Agent--F. B. Cham
dler, Marietta, Ga.
Arditor-W. B. Bradley. Marietta, Ga.
Names Of Directors--Francis Kendall.
Boston, Mass. W. @. oakman, New York;
Savannah Ga. james NJ. jackson, Augusta,
Ca; r. ]. Lowry, Atlanta, Ga; J. b.
Glover, Marietta, Ga. II, NJ. Hammett,
Marietta, Ga. A. A. Arthur, Knoxville,
Tenn; G.. @. Wbitcomb, Murphy, n. C.;
w. J. Patten. Murphy, N. c.
OTHER FACTS.
The same report adds that the corupany's
capital stock (oommon) Is Sr,421, ,425.
Phe mortgage In favor OF the Ceatrai
Trust Company was given Jan. /, 1887
This company first got its clutches on the
Marietta and North Georgia when the orig
inai issue Of ss17, 900 first and second mort--
gage bonds were paid on by exchange with
newer bonds of the date juss given. The
mortgage covered the road-bsd, franchise.
machinery and appurtenances-every
apparently. ~