The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-12-17
TERMINALIN A BAD WAY.
THE FIGHT OF TIE INSIDERS DIMs
TIE RAY OF HOPE.

Dismember the System.
NEW YORK, Dec. 16.-There were no new
developments in the Terminal situation to-
day, and the impromptu stockholders,
meeting held yesterday at the Central
company's offices had no appreciabIe effect
on to-day's market value for Terminal
stocks and bonds; in fact. those securities
we're somewhat lower to-day than yester-
day. To-day's decline was a decided
Disappointment to the room traders who
expected the Brice-Thomas party to make
an immediate hurrah in the market by wav
Of celebrating their apparent victory. Wall
street is already getting down to sober
thought over the whole mat
ter and the first fash-Iipht of
hope which illuminated the situation
is somewhat subdued. Men are turning
over In their minds to-day the fact that al
though there has been much talk about re-
lief for the Terminal and the subordinate
companies being matter of comparatively
easy accomplishment, nothing definite ia
yet assured, or even outlined. Mr. Olcott
has not announced yet whom he will select
as to his associates to compose the stock
holders committee.
ALETTER FROM THE COMMITTEES.
The Norton committee, "minus Mr..
Olcott, which was summarily repudiated
by yesterdays meeting, will publish to-
morrow circular letter to the Terminal
stockholders in which they declare that
owing to pronounced opposition to them by
a majority of the Terminal directors, as
was evidenced by the action Of the Termi-
nal board at yesterdays meeting, they
feel themselves impotent to proceed with
the work for which they were
annOiufnd q nf Orik 30
Terminal stockholders. The letter states
that all efforts to formulate plan for the
permanent adjustment Of the Terminals
affairs have been forestaled and rendered
nugatory by the pronounced opposition Of
majority OF the board refusing, as they
cid at their meeting yesterday. to furnish
means and otherwise facilitate the
committee in accomplishing the purposes
for which the committee was
appointed, and Furthermore in refusing
their request to defer the annual election of
president and directors Of the East Ten
nessee, Virginia and Georgia railroad until
the COMMITTEES had submitted its report and
recommendations to the Terminal stock
holders. After proceeding at length in plain
and vigorous language, the letter CLOSES by
directing 'the attention of the Terminal
stockholders to the power they possess to re-
quire new election OF directors" What
will be evolved out Of the present compile
hU5Q blLudOlOQ roIQdl06 TO De seen.
M.J.V.
DIAMOND CUT DIAMOND.
BIZ associated Press.
NEW YoRK, Dec. 16.-WaIl street did
not apparently take much interest to-day
in the stroke effected yesterday by Gen.
Thomas In the affairs OK the Richmond
Terminal Railway Company. The gem
eral opinion seemed to be that
it was case Of diamond cut
diamond, and that just at present Gen.
Thomas and Calvin S. Brice had got the
best of Mr.. INnan and his friends. Several
confer rences were held to-day Of members of
the opposition to the Inman party in the
formal action taken.
INMAN SAID TO HAVE RESIGNED.
Chairman Olcott of the stockholders cou~
mittee, intimates that soma steps may be
taken tomorrow, and u report was current
that President Inmau had rendered his
resignation, and would step out at once if it
was accepted When questioned by re-
porter Mr.. 1nman said he had nothing to say
about the affairs of the COM
1t was also reported that the
bankers committee appointed at the annual
meeting of the Richmond Terminal stocks
holders, had decided to make no further
efforts to effect reorganization of the
company and that formal announcement to
that effect would be made by them to-mor-
row.
WHY THOMAS HELD BACK.
The question was raised by many to-day
why Gen. Thomas did not come to the res
cue of the Terminal property before in
stead OF allowing it to pass to an outside
committee, in securing which his proxies
to President Inman were undoubtedly
used. The following apparently in
splred answer was given by representatives
OF the East Tennessee interests: "Gen.
Thomas is not an executive officer of the
Richmond Terminal He is only an officer
OF the East Tennessee. He had no interest
In stepping to the front in Richmond Ter
mlnal matters. He was secured in his posi-
tion In the East Tennessee, and that was all
he cared to risk. He has insisted steadily
That bis property needed the help of no out
side interest.
NO LACK OF MONEY.
ii The directors of the company repre-
sented $15.009.000 of property, and could
see 1t through its difficulties. He has re-
sented the attempts of the Richmond Ter
5nlnal ~ management to involve the East
tennessee in its troubles. He will continue
81 10 resist these efforts. 80 far he
mas been successful. 1t must be
understood that the East Tennessee interests
are opposing only those attempts which aim
70 involve the East Tennessee. There is
notnlng personal about it. Mr.. Brice stated
gmastlnotly last evening that he and Gen.
1homas were not opposed to Mr.. Inmau as
president OF the Richmond Terminal"
THOMAS OBJECT.
IL was rumored in financial circles that
sne real purpose Of Gen. Thomas in this
struggle was union OF the East Tennessee
aau norfolk and Western to the exclusion
Vi the hlchm ond and Danville and the con-
eequent overthrow of the Richmond Termi-
M nal system. Gen. Thomas denied the report
Lnls afternoon. He said that the new move
tho lau 10 6or It's sole object the preservation of
tirety.
WHAT THE TRIBUNE SAYS.
says: A Il"
me breach between the stockholders and
creditors OF the Richmond Terminal Com
Rany, ana bet the friends of President
.uinan and the Brice-Thomas party is
swiuenlng. The action of the directors of
.ne Terminal In ignoring the requests of the
a. qJustment committee, of which Eckstein
,,noreon 40 Is chairman, has been accepted by
.ne committee as a rejection of its assist
once. mere was a meeting of the Norton
oullnittee to-day at which IL was decided
~ prepare an address to the stockholders.
indicates emphatically the retirement
w oL the committee from ali .s s.a.s .;th