The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-12-29
rHRMINAL ON rHg RISE
An Advance In ell the Systems secur
ties Looked For.

ties Looked For.
From The NelC York Daily StockhoIder.
Richmond Terminal securities have come
into prominence. and are sure to grow in
public favor. For the first time in years,
they are making their progress in both the
above respects on merit.
They have not been favorites OF ours until
the past ten days We never had felt like
placing much confidence in their market
managers. They represented diverse in
terests OF large volume, and, altogether,
were a slick lot-entirely too slick for the
public to make any money when wedged
between the various factions.
BY the recent contests, however, the
situation and the prospects were changed,
and, IN our Judgment, great deal of money
can be made the next few months by pur-
chasing and holding the Richmond Termi-
nal secur1ties-stocks and bonds.
In the 1rst place, all were depressed IN
duly-not because they had deprecated in
actual intrinsic value, but because one
leading official had arrogated TO himself
moro authority, greater responsibilities,
than he should, and had assumed financial
obligations which were too burdensome for
his resources.
The result was financial embarrassment.
managerial discord and forced sales Of Sc
curities owned by individuals. All this Is
now changed. Strength instead of weak
ness has attained official control Plenty of
money Is torthcoming-not alone for cor
porate needs; but TO purchase for insiders
personally the stocks and bonds of the Rich.
mond Terminal system.
We are fairly well Informed as TO the gen.
erol plan which the reorganization commit
tee appointed by President Olcott, Of the
Central Trust Company, on Thursday last,
will be asked to carry out We venture
nothing In saying that IL win prove very at
tracsive 10 the public, and will be regarded
with the highest favor by the company's
security holders.
Gen. Samuel Thomas, with whom, we re-
gret to say, this paper is not always in 40
cord, is the active force In the new order OF
things in connection with Mr. Oicott's
committee. In this affair, he has proved
himself skillful tacticisn, a courageous
fighter and a wise counselor after the
victory had been won. When thoroughly
informed, even his enemies must admit that
the general is right in this case.
AS soon as he became master Of the stu
alton, he originated plan Of reorganiza-
ton, the success OF which will provide
amply for the floating debts of controlled
Observation-Disclosures Terminal itself has
no floating debt--and will leave IS, zoo, 900
cash in the company's treasury. In accom-
plishing this, the common stock is not as
sessed, no bond or preferred stock Is scaled
down, no coupon is funded.
We, therefore, consider il like finding
money TO buy Richmond Terminal SIS aud
the preferred and the common stock. The
purchaser of the first two named will re-
ceive his interest and dividends, respect
lively and ten to twenty points profits in
their market advance, in our opinion. OF
course the common stock is a speculation.
but 50 is Erie, so has Sc. Paul been for
nearly four years.
Richmond Terminal stock controls 1000
mites of railroad, and 1t cannot be kept be-
low 20 worry long. Under the new order of
things 1t can be held around 80 easier than
around 20 heretofore. for In the past few
years new issues of stock were constantly
being made. That method Of management
has come 10 an end now.