The sun. [volume] (New York [N.Y.]) 1833-1916, 1892-04-20
THE R. I. OUTLOOK IMPROVES.
HARMONY RESTORED ~ The REOR-
0ANfzi Y1ON COMMITTEE.
Securities Cortinue tn Pour into the Cen.
t'ni r'uSt tnmrany-A Eciniie ! state.
mcnt OF the ncNc sits.

Securitir. Coniinue tn Pour into the Cen.
trni Trust tnmrany-A Eciatiei state.
mcns OF the Deposits.
The affairs of the Richmond Terminal re-
organization committee took on more cheer
ful appearances YESTERDAY The committee
held two meetings during the day. which
were attended by all Of tho members except
Chairman Oicott and Col. Payne. So FAR as
can be learned both sessions were entirely
harmonious. In fact. it was officially stated
that they were. Mr.. j. Kennedy Tod presided
at both meetings. and IL is understood lie will
he the acting Chairman Of the committee until
Mr.. Ocott has recovered sufficiently to return
to business.
At the morning session Mr.. II. c. Fahnestock
snid to his colleagues til at the statements
printed in the afternoon papers on Monday
| and in certain newspapers yesterday morning
misrcpresentcd him. They were not. by tho
way. printed in THE SUN. He denied the au-
thenticity OF the interviews which represented
him as critirising and rejecting upon tho
committee and its work. In consequence.
after that meeting an official statement was
given to the news agencies to the effect that
the committee had been unanimous in all its
actions. and that Mr. fnhue.tock had declared
that the interviews reported to have boon had
with him were bogus.
At the afternoon session. which was hold
after } o'clock. the committee received a re-
port from the Central Trust Company giving
tho exact amounts of the various securities re-
ccived ly ii repository for the committee.
This report was incorporated in an advertise
mcnt. which will be found elsewhere. 1t will
he noted by reference to the advertisement
that the committee has acIuicsccd in Messrs
Fahncstorks and Happens request that the
figures OF underlying securities received
should be given to the public. Tho amount Is
not large in proportion to the whole being
nearly S2UUO.OO par value. But the commit
tee states that it has been advised Ivy cable
and letter that an equal amount is in transit.
twas evident during the Inter part of the day
that the friends OF the socaled First National
Bank party had changed their attitude toward
the reorganization. They expressed them
solves as more hopeful OF tho success Of the
plan. and minated that unanimous effort
would now he made to induce security holders
t. support tho plan. 1t is admitted on, all
tn" committee is in strong position. both as
regards any new opposition that may develop
and in relation to the creditors of the comrn-
ny. for It now has absolute control OF the Rich
mpnd Terminal Company. .,o,
The committee has secured over Sl6.OOO.00O.
or about 40 per cent. Of the common stock OF
the Sj.uuoooO preferred stock. S7.5oO.O00. or
ABOUT q Err rG sent q the G%,n',rn trust bonds
collateral trust bonds. maxim. II total of StiH.
0,n.Un Of securities denosited under the
The dcpos its u! East Tennessee stocks aggre-
gate sl,i.lS4.0im. and Of ot her stocks $ 3D.
S Sor. ne "ig s loot rsan han nun en-
Terminal securities. until Monday. May .. aud
tia lin" for dupositinG underlying securities
untI Friday. MavG: After these dates securi-
ties will be received subject TO such terms rs
the company may determine.
The ,deposits, YESTERDAY we're very large in
fnct n" crowd OF messengers and clerks ut
the office of tho Central Trust COMPANY be-
came so large in the afternoon that the ser
vices of u policeman wcr" required to preserve
order. At ) oclork large rumbrr Of would
hn dpp,.itors with securities in hand were
of the trust company had received AL the
curities it could handle during the night As
extended. the inability to surrender them yes
erday will not work any hardship.
syndeatn the ast o. TINE
they are less nervous than they have been.
rarity been.se o! the ,r seeming change j. the
party toward the plan. ana also because they
| have begun to realize that the committee is
not likely to declare the plan operative, until it
has secured sufficient amount OF underlying
securities to affect radical reduction in fixed
charges.
4 member of the syndicate said: IT think
"" can tIust tn" committee on rcorEaniZa-
ton to give MS n good security for the money
we have pledged TO put in. for the reason that
all OF them are members %! our syndicate and
they are not *" " to declare the plan operative
when it would give than as well as us an in
| different bond tor whatever NJ Oncy we may be
called upon to give w. OF course. the commit
| 10" wants to succeed. hut il certainly does not
wish TO attain success ut the expense OF its
individual members or the institutions whicl,
they represent. 1t seems to me that this view
ought 70 appeal to the security holders whose
property will be placed in jeopardy IL they do
not assist the COMMITTEE IN LcrtcctinE a sntis-
factory security for the $l4.5oo. 900 which the
system absolutely requires to save it from
Bankruptcy and reha'ii,uto it financially"