The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-08-07
TO STICK TO SAVANNAH.
TIE CENTRAL RAILROADS NEW
ORDER EXPLAINED.

Controller Mcintyre Says the Rich
mopd and DanviHe's Policy Is Misur
derstood-rhe Order. to REMIT II
Washington Only Gemporary-Wait
ing for the Transfer of Headqusrter
to Atlsnta-The Bank to Be Kept Up
The policy of the Richmond and Danvill
railroad towards Georgia appears to be mi
understood, particularly with regard to ii
recent order issued for the remittance
every dollar Of the receipts to the treasure
at Washington and the making Of all dis
bursements from that point.
Controller Edward Mcintyre of the Cen
trail railroad said to MORNING NEWS re
porter yesterday that tie general ide
with regard to the recent order wa
entirely erroneous and the true status OF
the case greatly misrepresented.
A CONFERENCE HRLD.
Mr.. Mcintyre oontradicted the statement
that there would be auY difficulty ABOUT
the pay rolls of the department, because tine
financial headquarters Of the ROAD had
been changed or that there would be any
less amount Of money IN circulation n the
state on account Of the withdrawal OK the
Central railroads receipts.
THE fact is, " said Mr.. Mcintyre, that
the Richmond and Danville railroad re-
mitted 500. 900 for the payment OF the en-
Moves of the Central in Savannah aud else
where before one dollar of the CentraPs re-
ceipts had been received at Washington,
though a large amount had already been
forwarded and was on its way.
LONG STANDING CUSTOM,
This money was received here this week,
and about 100000 of it is already in circu-
lstion IN Savannah. AS to remittances, the
policy the Richmond and Dauville railroad
are now carrying out is one that has been
pursued by the Central railroad for over
twenty years The first thing that Central
railroad did when il acquired road by
leSse, control of stock, or ownership, 1t
had all the accounts sent to Sa-
vannah, and all remittances made to the
same point as heGdQuar ters Of the Central
railroad. Washington is headquarters OF
the Richmond anJ Danvile. Its treasurer
is stationed there, and the Richmond aud
Danvile has not transferred accounts, but
simply the remittances, so that all moneys
could be got into q proper channel for dis
bursements. When these changes were
made by the Central railroad. no injury res
suited to the roads or places interested, and
the same policy will, just as soon as things
can be got into shape be carried out by the
Richmond and Danville railroad.
''The order TO remit in currency emanated
from this office and not from Washington,
and was simply the ordinary method of re-
hitting, to save delay and cost Of collecting
drafts. On account of scarcity of money
at this season OF the year, and for years in
the past, | have directed agents to collect
up close and remit every dollar and had
done this in July, directing every dollar re-
mitted TO the Central Railroad Bank to
meet pay-rolls and other disbursements"
THE MISUNDERSTOOD ORDER.
Mr.. Mcintyre showed copy Of the order
issued by him July q to the Central rail-
road agents TO remit daily when they bad
amounts Of over $40, 60 the Central rail-
road bank at Savannah. They were ordered
to collect every dollar possible and remit
promptly"
These words occur in the order
directing all remittances to be made
TO Washington and the phrase
ology is Mr.. Mclntyre's. and was not in
tended TO convey the impression that the
Richmond aud Danvile Railroad Company
was in a tight place and needed money.
LAS fact, said Mr.. Mcintyre. "a SINH
lar order has always been issued by the
Central railroad at this time of year. The
receipts Of the Central railroad do not and
have never that | remember equaled the
necessary disbursements during the months
of May, sumo, July and a portion
of August Heretofore the Central
railroad company has had to find
the extra amount necessary to pay the ex-
penses over the receipts during those
months. Now the Richmond and Danvile
has 1t TO do. 1t is an actual fact that the
Richmond and Danville railroad will have
to expend more money in Georgia this sum-
mer than it will receive from the Central
road, and instead of Withdrawing money
from circulation, it will actually increase
the circulation.
THE REMOVAL OF HEADQUARTERS.
when the Richmond and Danville head
quarters are removed to Atlanta in Septem-
Der all the remittances, not only from the
Central railroad, but all the other lines Of
the system, will be made to the treasurer at
Atlanta, aud all the disbursements will be
made from the same point.
The amount Of money placed in circula-
ton IN Georgia by the system will then be
greatly increased.
The treasurer is responsible for the re-
ceipts of the system from all points, but
according to law be must deposit them in
the different banks of the states trayersed
by the railway lines.
POSSIBLE THEORY.
ut is positively not true that the deposits
VI Iilo central railroad nave been or Will be
withdrawn from the Central railroad bank
at Savannah. The city business collections
are deposited in the bank daily, where they
remain subject TO the order of the treasurer
In the busy season the receipts at Sa-
vannah are about equal to the re-
cefpts from all other points in the
system combined. 1t is not true that the
Central Railroad bank has not its euaran-
teed capital OF 100000. l examined the
books and accounts OF the bank myself, in
company with Mr.. Cunningham, the
cashier, and l know that the bank has
the full amount of its capital besides the
monies Of the railroad. The bank is able to
pay every deposltor every dollar it owes
to-day. Without this capital it would not
be able to carry on the business that it does
for day longer.
''The bank will continue to be the favored
depository Of the railroad, not only for tn,
Savannah receipts, but for large portion
Of the Central system, as heretofore"
TIE DRAW DISABLED