The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-12-12
TERMINAL TAKES A JUMP
TIE COMMITTEES REPORT TO BE
A GOOD ONE.

No Need for a Receiver-The Compa-
MES in the System Perfectly Solvent
Heavy Buying by the Brice-Thomas
Faction Puts the Prics of Common
Up to IL.
NEW YORK, Dec. 11.-Richmond Ter.
minal has suddenly vaulted into a con-
spicuous revival from the dismal depths in
which it has been groping for the last week.
It has been dragging heavily between So
and 01S. apparently without friends and
with no hattering signs Of improvement
anywhere in the near future. 1t was under
the ban of the old adags "that IL you give a
dog bad name you might as we'll kill
him." All Of a sudden yesterday afternoon.
toward the close of business on the stock
exchange, Terminal was bought extensively,
which resulted In moving the price up to 10,
and on the sound Of the gong that was bid
for thousands Of shares.
ROOM TRADERS AROUSED.
The quick change set all the room traders
to gossiping, and last night at the uptown
resorts Richmond Terminal was the favor
ite topic Of conversation, and predictions Of
big advance in the stock and bonds at
once were voiced on all Sides Late last
night it leaked out that the East Tennessee
directors had sold yesterday Sl,000,O 900 of 5
per cent bonds to prominent banking
house, and that this amount prac-
tically provided for paying the
East Tennessees floating debt imme-
datey. This morning hefore 10 o'clock
the bond sale was authoritatively au-
nounced, and consequently when the stock
exchange opened Terminal was a prime
favorite, and eager buyers Of it were on
hand.
UP TO 10.
The "ticker" nervously sounded of the
rapid advance and large sales, much to the
delight of long suffering Richmond Termi-
nal bulls. Quotations climbed until, just
before o'clock. the stock sold at II on the
$4,000, 900 of common stock. This advance
is equal to an appreciation of SO ,450, 900.
Everybody insisted that such q material
advance was not to be accounted for simply
by the sale of 100000 East Tennessee
bonds.
MORE GOOD NEWS TO COME.
The wideawakes of Wall street said there
was probably more good news to come
This evening it is whispered that the ed-
visory committee of bankers have gone
far enough with their investigation into the
Terminal affairs to warrant them in max
ing within the next few days preliminary
report which will be to the effect that the
Terminal and its subsidiary companies are
oil perfectly solvent. and chat there is no
necessity for any reorganization or even
any assessment on the Terminal STOCK.
Such clean bill of health from such emf
nent authorizes as constitute the advisory
committee will go far to re-establish con-
fdence in Terminal securities, and prob>
ably in that way solve all the difficulties of
the company.
NEVER AS BAD AS REPORTED.
1t now appears that the Terminal situa-
ton has not at any time been as bad as was
suspected, and that there is goodly num-
Der of responsible volunteers now on hand
who are ready and willing to assume all the
Terminals liabilities il made secure by all
its assets. The Brice-Thomas party are
said to have been large buyers Of Richmond
Terminal yesterday and to-day.
NJ.
RUMORS OF DEAL.
By the associated Press
NEW YORK, Dec. ia sudden burst of
activity in all the Richmond Terminal
securities Immediately followed the open
lug Of the stock market to-day, and an ad-
vance in all these securities started
number of reports to the effect that
some 'deaW had been consummated by
which the condition of the company had
been greatly improved. None of the mem-
bers of the banking committee which was
appointed at the annual meeting would
give any information in regard to the prog
ress made by them.
THE PROPERTY ALL RIGHT.
Gen. Samuel Thomas, who represents the
East Tennessee party i'll the Terminal sys-
tenn. said: "rhe property is all right, and
believe has advanced simply because It is
becoming known that 1t was unnecessary to
call on outside parties to take care Of it. 1t
can easily take care of itself, and If the
neavy holders of the prop
erty were not reIegated to the
back Seats or forced to retire from partici-
patton IN the management, no such steps as
nave been taken we're necessary. The East
tennessee can take care of itself,
an ana 1T always has ever since
Hs reorganization. There is not
eroad an the system that Is not earning its
lxed charges"
INMAN's EXPLANATION.
The officers of the company declared that
SO Tar as they knew there was no change in
the condition Of affairs. President Inman
eaiu that the holders were generally learn
ing that there was no reason TO expect
that an assessment would be levied, and
.nae The company's affairs were not in
any such shape as would be inferred from
the various reports. He added that prop
osluon had teen made to issue 100000
ne" stoek' making the capital $100, 900,
20 20 De taken by parties interested in
sne property at about IA. This
@ock, II issued. would be locked
up Tor long period, and with the strong
h men VINO would be included among the
ouyers, would practically give and allow
teeentlon OF control. The proceeds Of such
p uew STOCK would give ample relief, aS the
nchInond Terminal Company itself had
no hoating debt, and the needs of
.ue roads controlled by it have been
greatly exaggerated. Tho proposition re-
ere re.reo 10, however, is 80 far only talk, has
hoI oeen formally considered, and may not
pc even formally discussed. The buy
lng OF Richmond Terminal stock was
"nat is called on the bonrd of a very
good character. In some quarters it was
.xought to indicate an attempt on the part
" the conflicting interests to acquire stock
tor control and bitter contest was believed
70 be impending
Indian Outlaws Captured.