The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-03-14
IN AN UNSETTLED STATE.
THE MACON AND ATLANTICS FU-
TURE VERY UNCERTAIN.


Construction Company end the
Macon and Savannah Construc-
ton Company Very Close-Why
the eeaboard end Roanoke's
Lease OF the Georgia Southern
and Florida Fell Through-Pres-
ident Robinson Didn't Find Things
as Represented and He Annulled the
Contract-PE esident Sparks Mistake.
John R. Young returned yesterday from
Macon. where be went to get an insight into
the affairs OF the Macon Construction Com
pany. Mr.. Young was seen by MORNING
News reporter. In answer to inquiries he
replied that there is little further TO be said
In addition to what has already been pub
lished.
"What effect will the complication of the
Macon Construction Company have on the
construction OF the Macon aud Atlant1ci"
he was asked,
1.-The affairs of the Macon and Atlantic"
be replied, las well as those Of the Macon
Construction Company and its proper lies,
the Georgia Southern and Florida and the
Macon and Birmingham railroads, are in
the hands of a receiver, and it il hard to
tell just now what will be done to complete
the building of the road. McTighe e. Co..
the contractors and principal creditors, who
filed the bill for a receiver, recommended
the appointment Of President Sparks as re-
ceiver, and they seem to have confidence in
his ability to get matters in shape and
arrange for the completion of the work."
Tine failure OF the Macon Construction
Company will prevent the Macon and Sa~
vannah Construction Company from going
forward with the work upon the Macon
and Atlantic rail- cad, thenp
Perhaps 80. The two companies are in
timately connected, and what affects one
affects the other.a
THE MACON AND ATLANTIC's FUTURE.
What will be done with the Macon and
Atlantic railroad, then. Will the pro-
Jectors complete it, or will it be sold outm
II don't know yet what will be done
Everything is too unsettled to express an
opinion. found all the parties interested
In Macon very cheerful and very hopeful
that everything will work out we'll in the
end. The Macon Contraction Company is
solvent. The intrinsic value Of its assets is
just as great as it ever was The Georgia
Southern and Florida railroad is good for
its bonds"
"How was it, Mr.. Young, that it was
given out that the lease had been made by
President Robinson of the Seaboard and
Roanoke system, and it was after ward
discovered that the lease had not been
signedi"
1.-THE lease was signed. 1t was made be-
tween Robinson for the Seaboard and
Roanoke system and Sparks for the Macon
Construction Company, and was signed
By both parties and the secretaries of both
companies. It was based upon the state
ment that the gros earnings of the Georgia
Southern and Florida were $500, 900 year,
and that the road was in good condition,
A proviso was included in the lease at the
instance of the directors of the Seaboard
and Roanoke that President Robinson
should inspect the Georgia Southern and
Florida, and if he found its conditions and
earnings as represented the lease would be
ratified. On this ground Robinson backed
out of the lease.n
PRESIDENT SPARKS MISTAKE.
ut is said that Robinson made up his
mind not to take the road before he ever
saw it, isn't itg'
"Yes, the people in Macon have that i'm
preston. President Robinson backed. out
Of the lease on the ground of a mis- AXE
made by President Sparks in his statement
Mr.. Sparks telegraphed to Macon
for statement of the earnings of the
Georgia Sou hern and Florida for January,
and Mr. Lane, thinking he meant for the
whole system, included the earnings of the
Macon and Birmi CHAM road in the state
nenI. hoDlnson'S backing out from the
lease is responsible for the whole trouble"
"What will be the end of its"
81 think the Macon Construction Com
pauy will straighten out its affairs eventu-
ally and every thing will be adjusted"
An article in the Baltimore Sun confirms
Mr.. Young's statement of the matter. 1t
says the lease was TO be accepted only on
condition that the affairs of the road and of
the construction company should be found
| satisfactory after an exa nination by the
Seab ard Company. The Sun says: "Mr.
Robinson aud his party went south to make
| this investigation. 1t was not satisfactory,
as the following dispatch received by Mr..
Hoffman, from one of Mr.. Robinsons party,
vice president of the Seaboard company.
shows: Contract Off; things not as repre-
sented'n
The Macon people feel very kindly toward
Savannah just now. When the shake-up in
| financial circles occurred there, caused by
the application for receiver for the Macon
CONSTRUCTION Company, aud which caused q
run upon the Capitol Bal of Macon, caus-
ing its suspension, the Exchange Bank OF
Macon called ON the Southern Bank of Sa-
vannah for assist ance. The Southern Bank
cauk en- 1SN 00A