The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-12-16
BRICE AND THOMAS WIN.
THE INVESTIGATING COMMITTEE
GIVEN WALKING PAPERS.

OOoS NOS oSAo"O Al Tue stringent
Measures Proposed-He is 20 be-
Chairman of the Committee of Five
Chosen From the stockholders.
NEW YoRK,IDe 15.-There is music In
the air of the Richmond Terminal camp.
and Wall street is alert and making time to
the Brice-Thomas quickstep.
The Terminal directors had a long and
strictly secret session yesterday afternoon.
1t was after dark when they adjourned. A
dozen newspaper reporters were In waiting
when the solons disbsnded, but the boys
got no news. Every director told the same
story, to wit: "We transacted only routine
business and adjourned till tomorrow
noon." This the news gatherers interpreted
as being mysteriouSly important, aud con-
sequently were on hand at Terminal head.
quarters again at noon to-day to await in
formation.
The directors met promptly and remained
In session over two hours. When they ad-
journed it was evident that the busin
transacted was more than routine 1t
soon became known that the question which
marred the harmony Of the meeting was as
TO the election Of directors and officers of
the East Tennessee. Virginia and Georgia
tomorrow. Some members Of the Terminal
board favored postponement of that elec-
ton until the advisory committee.n which
was recently appointed, should make its
report and recommendations for the "per-
manent" adjustment Of the Terminal affairs.
TEST OF STRENGTH.
To such postponement the Brice-T Thomas
party was unalterably opposed and on
forcing the question to a vote carried their
point. This was all Of public interest that
was done at the meeting, but Wall street
voted 1t an important point gained by the
Brice-Thomas contingent
Later developments we're much more in
teresting and significant. A meeting of
Terminal stockholders was held at the
Central Trust Company after o'clock, at
which over 240 900 shares of Terminal stock
were represented. OF this meeting Fred r.
Olcott, president Of the Central Trust Com
pany, was chairman.
oLCoTT's STATEMENT.
Mr.. Olcott announced TO the meeting that
he had resigned from the "advisory COM
mittee, lately authorized to examine into
the Terminals affairs. aud gave his reasons
for SO doing that he could not
approve any such stringent measures for
the relief Of the Terminal company as a
majority Of the committee was disposed to
recommend. He further stated that as far
as he had acquainted himself with the
dlIalrb OIL INC lernlDal company ne could
not see that any radical methods were
necessary. He believed the company and
the railroad properties it controlled were all
perfectly solvent, and could not approve
any plan that contemplated any assessment
on the Terminal stock or the scaling OF the
interest on the principal Of the Terminal
bonds.
oLCoTT THE FAvoRITE.
These views from Mr.. Olcott were en-
Enthusiastically received by the Terminal
stockholders present and resulted in his
selection then and there as their champion.
A resolution was unanimously adopted by
the meeting appointing nstockholders COM
mittee of five, to be named by Mr.. Olcott,
he himself TO be chairman of that commit
tee, who should devise means for handling
the floating debts of the subordinate
companies of the Terminal system,
and providing any financial aid that
the Terminal company itself might need.
Mr.. Olcott has not yet named the stock
holders to be associated with him on this
committee. 1t is said that the Terminal
preferred stockholders are in thorough sym
pathy with the Olcott committee, and if
that be SO it strengthens that programme
Just 80, 900 shares in general vote Of the
Terminal stockholders
THE ADVISORY COMMITTEE USELESS
In the light of all this rev development
it would seem that the "advisorY commit
tee" heretofore appointed will be no longer
necessary to the situation. There are innu-
merable suggestions Gs to the further con-
sequences Of to-day's doings. but nothing
beyond what | have reported IS assured.
In some quarters it is said that a sweep
ing change in the Terminal management
Will soon be made, including even the re-
tirement of President Inman. On the other
hand. it is reported that Mr.. Inman will
continue to be president, but that several
OF the present directors, including the
Calhoun brothers, will be displaced. Mr..
lnman is imperturbable In spite of the
storm. He only says: g The president of
the Terminal company Is elected by the
stockholders, and whenever they wish my
resignation 1t is at their disposal" In my
opinion, neither Gen. Thomas nor Mr..
Brice have any desire to see Mr.. Inman
suppianted by anybody else. NJ. j. V.
AS TOLD BY THE PRESS.
By the associated Press
NEW YORK. Dec. ia quorum of the
board of directors of the Richmond Ter.
minal was obtained at 1910 O'Clock to-day
and business was begun behind closed doors
and with every precaution for secrecy. A
remarkably uncommunicative young man
q was placed on guard, who, although an en-
pioye OF the office, could not even recognize
tne faces Of those directors who passed
into the room of John H. Inman,
wnere the fight for supremacy between the
lnman and Thomas factions was taking
place. 1t is rumored that II. B. Plant,
president OF the Plant system, which is a
HVeiy competitor of the Terminal COM
pany, was present at the meeting. Ths
rant system controls the traffic to jack
sonviiie, Fla, which is the key of the Pen
,nsuiar state, and all of the East Tennessee
business from that state has to go'over the
rant lines to Jesup, the southeastern ter
minus OF the East Tennessee.
THE EAST TENNEssEE's SURVEY.
IA Two years ago line was surveyed by the
IAss Iennessee to Waycross as a competitor
" sne riant system and work was begun
o,.i@ on ~ II was suddenly discontinued and an
ouslay OF thousands Of dollars was thrown
away. Mr.. Plants presence seems to indi-
cate that he has lively interest in the out
;EOne OF the present situation. The meet
Is ADJOURNED shortly after
sSo.ock. The meeting called for some reports
rom the executive committees of the
oeosldlary companies which will be made
~ MA another meeting to be held this week. 1t
.r %as determined that the annual election OF
st sne East tennessee road set down for to-
uMuorrow ~ should not be adjourned and that