The times. [volume] (Richmond, Va.) 1890-1903, 1891-09-15
UP GOES TERMINAL AGAIN.
The IdIancs OccasIonsd by q Statement BY
President Inman.
NO pISSEHSIOHS AND no RECEIVERSHIP.
Ths East Tennessee, virginia and Georgia
Purchases the Chattanooga union
HiiI's Power wrested From Him.
INV Yonx BUREAU, RICHMOND TINES, !

Sept. IA. 1891.
In Wall street to-day Richmond Terminal
ssourities declined in the early trading. and
then advanced on tho reports that tho
financial troubles Of the company had been
adjusted. and that formal announcement OF
the extension OF the floating obligations OF
tina various companies ia the system would
be made in few days
The stock was bought by houses identified
With the management.
WHAT MR. ISMAN SAYS.
President Inman. who left the city on Fri
day for his country residence at Stockbridge
Mass. was at his Office to-day. lie said
The floating debt of tho Richmond Iermi-
nal Company is S5300o0 that OF the Rich
mond and Danvilie. 50. 200. 600: OF the Georgia
Central. $500, 900 and Of the East tennessee
81. 400. 600. None of this has been called, and
none OF it is matured or pressing for payment;
The executive committee met on Friday ana
will meet again to-day to act on proposition
TO provide for meeting the claims. SeVeih
claims are being considered put the ono
which is most likely 10 be adopted is inc lSsuo
Of sIO. 900. 900 collateral trust notes TO be Sc
cured by the deposit collateral now held py
the various companies.
TO DIVIDE TIKI NOTES.
tits not intended to make one block OF
notes but TO divide them into classes. keep
ing each company's securities and debts dis
tinct from those OF the others llhe sheet
officially drawn up showed that the Georgia
Central will deposit securities aggregatins
x29 600 900 par value collateral security ior
the notes providing for It's own floating debit
These notes will be guaranteed by the
Richmond Terminal Company. The debts Oh
the other roads will BIO arranged IN similar
way"
NO DIssENsI0ss.
In regard to the rumors of dlssensions.
Mr.. Inman said: There is not WORD OF Iutn
in them" A statement to the effect that
there are no discussions among the directors
but that their relations are entirely harinohi-
Qua. has been signed by several OF them. IN
Guiding General Samuel Thomas, John T.;
Calhoun and John II. lninan, and u
10 expected will DO signed 3y all
the rest before tomorrow. Edward Lauter-
bach the counsel for the company. said in
reference TO the rumors of recelvership:
s'Knowing what do about the condition ot
the company and its controlled lines Will
say that if was offered 1850 900 to have q re-
ceiver appointed l could not do ~.
FUNDING OF THE DEBT.
Persons having close relations to the com
pany state that Drexel, Morgan ~ 20.
NAV undertake to arrange the funding OF TIE
debt. II is stated that &c 200 900 of the notes
banking house understood TO be already in
terested in the property, is likely TO take
$4,000 O00 and two other persons are named
as willing to take 81 900, 900 each.
What increases tho uneasiness OF people In
terested in Richmond Terminal is the fact
that within six weeks President Inman said
that the last loan of the company would be
paid off the following week. and that the
company had the money with which 10
pay it. . g
paper come into existence all at once! The
companies controlled by the Terminal; &c;
cording to the returns, have not fallen behind
last year.
VALUABLE ACQUISITION.
The East Tennessee. Virginia and Georgia
Railway Company this morning bought the
control of the Chattanooga Union (Bet)
railroad, forty-hv miles in length when
controls the entire railroad facilities IN and
about Chattanooga all thu lines running into
Chattanooga being obliged to use the tracks OF
this Belt line The sale was for cash, whlch
was paid to-day. This is most valuable &C
QUESTION for the East Tennessee and It's con
trolled properties, as 10 gives them the entire
control of the traffic of the most prosperous
manufacturing centre OF the South.
FAST TRANscoNTIEENTAL MAIL.
The first fast transcontinental mail train West
went to-day Ii consisted Of three Innll cars.
They ran to Albany, distance Of $50 miies'in
one hour and forty minutes.
THE ANTI-HILL TELLING.
1t is an unquestionable fact that David b.
Hill is no longer the absolute leader OF the
Democracy Of this state. His power has
bsen almost completely wrenched from him,
and is now concentrated III Edward Murphy.
the chairman of the State committee; Richard
Croker. the Tammany boss, and Speaker Will
liam f. Sheehan. of Buffalo. The discon-
tented elements from this city and elsew here
are putting up combination that will result
in an anti HUI State committee.