Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-12-10
RICHMOND TERMINAL
PRESIDENT INMAN ON THE CRITICISM
OF GENERAL THOMAS.
Importance OF the Advisory Committee
Value OF the Influence Of tho Big
Trust Companies.
fBy telegraph to tho DispatcA.l

NEW YoRE, December 9.--John II. Inman,
president Of the Richmond Terminal Com
pany. returned this morning from attend
ing the annual meeting of the company
yesterday at Richmond, Va. When asked
by a reporter II he had ANYTHING to say in
reply to the criticism of General Thomas
that the committee did not represent
majority of the stockholders and that the
larger holders of stock were perfectly able
to manage the company's affairs without
outside assistance. Mr. Inman SAID
The appointment by the STOCK
holders OF the committee of able
fnanciers TO aid the company in perfect
ing the best plan for the permanent adiustment
OF its affairs does not indicate any belief on ther
part or on the part Of the present management
that the Terminal Company or the system OF
roads IL controls Is Overwhelmingly involved.
On the contrary, as shown In the annual report,
the Terminal Company owes no hoating dept
whatever, and the real embarrassment IN tne
situation arises from the fact that the raiiroa1
companies have not been able 70 sell their
securities at satisfactory prices TO meet ther
engagements.
THE IMPoKTAgr THING TO RR-EsTABLlsH coNFi-
DENCE
"Tbere Is no Disgusting the fact that the
prices OF our securities indicate a great want OF
rent 70 any unprejudced person that The most
important work before the company Is TO se-
cure thorough restoration Of public confidence.
"I can readily understand that all OF those
who had hoped to see the Terminal system dis
integrated feel disgrunted by the appointment
Of the committee, but those whose only object Is
TO build II up and put II upon sound hnanclhi
footing should look With pleasure 10 tne ald anu anu
cooperation OF such men a. the stockholders
have appointed. Tho committee have elected
Mr.. Norton chairman and will, presume, pro-
ceed at once 70 the work In hand. In TACT, they
have already begun work, and have asked Tor
some accounts, figures, etc, which are now De
ing prepared for them. have nothing 1urther
TO say on the subject
wALL-sTRREr VIEWS
In Wall street the opinion was worry generally
expressed that whatever course the committee
recommended would In all probability De
adopted.
at IL pretty dlfrcult 10 buck against anything
the big trust companies undertake 70 carry
through" said one prominent broker, and II IS
nOtIceabl in this case that not only the Central
Trust Company, by Mr. Olcott, it's president,
who Is himself well-nigh tnyincible In matters oi
this kind but tho New York Security and Trust
Company, Mr. Fairchild president, ami the Aer-
camille Trust Company, General LOUIS flKger-
aid president, are represented on the commit
tee. Whatever they report, therefore, IS very
likely 10 go through, General Thomas 20 the con-
trary Notwithstanding
The Iaws Of Virginia do not permit an assess-
ment on the stock OF corporations, broker shlu
to-day, but he expressed the opinion that when
the report Of the committee Is made IL would be
found that that is practically what the commit
tee will recommend, and to the amount OF -
per cent. In return for preferred STOCK at oO
which would really make the assessment onl!
~ per cent