The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-05-05
GEN. ALEXANDER IS OUT.
HIS RESIGNATION FROM THE CEN
TRIAL DIRECTORY.

Hugh T. Inrnen Declines Re- elect
An Entire New Directory Elected for
the Ocean Steamship Company.
Col stovall and Col. Avery Before
the Central Directors on Direct
Trade-President Oskman's Letter.
The Central railroad directors held their
May meeting yesterday. Capt. E. p.
Howell Of Atlanta. Col. G. Fl. Phinizy of
Augusta, and U. B. Harold Of Americus,
were the out-of-town directors present.
The directors wero in session nearly two
hours, discussing politics and Incidental
matters. awaiting the arrival of Secretary
I. III. Cunningham, who was on his return
from New York.
Considerable routine business was trans
acted. The resignation of Gen. e. P.
Alexander as a member of the board of
directors was read and accepted. Gen.
Alexander's resignation has been in the
hands OF President Conner since April and
was accepted yesterday upon Gen. Alex
andor's request. The letter of resignation
Is as follows:
CENTRAL RAILROAD BAvK.
SAVANNAH. GA, April s, 1899.
H. III. Conner, Esq, President Central Railroad
and Banking Company;
LEAR DIR very Respectfully Gen00E my
resignation as director Of the Central Rail
road and Banking Company, to take effect as
soon as you can accept it without embarrass-
ment to yourself or the company, Meanwhile,
and thereafter, as we'll will always be at your
service to give any information or to render any
assistance in my power to promote the interests
Oh the company and the SUCCESS of your ad
Inlnistratlon. both Of which earnestly desire.
Very truly yours, Z. p. ALEXANDER.
THE NEW STEAMSHIP BOARD.
The Ocean Steamship Company's board
was reorganized, aud the following directors
were elected: Edward Karow, Lewis L.
Turner, Henry Blum, Malcolm Maclean aud
h. N. Conner. This is an entirely new
board and replaces John Rutherford, James
S"ann, Gen. Sam Thomas, Calvin s. Brice
and Gen. e. p. Alexander.
Whether this means any change In the
present management Of the Ocean Steam
ship Company could not be ascertained.
A letter was received from MIR. II. T In
man Of Atlanta declining reelection upon
the Central board. AS the board stands
at present this leaves two vacancies, Gen.
Z. Z. Alexander having resigned and Mr..
Innlan having declined reelection.
The directors appeared very we'll satisfied
with the present conduct Of affairs by
President Conner
After the work of the board was con-
cluded Col T. P. StoYall and Col. /. W.
Avery addressed the directors on the sub
Jeot Oh direct trade.
THE oAKMAN LETTER
The letter Of President Oskman to Chair
man OlcotU OF the reorganization commit
tee OF the Terminal, exposing the Terminals
weakness, which was published ia New
York several days ago, is rs follows:
r. p Oicott. Chairman, etc:
DEAa SIH-I beg to present TO the committee
OF reorganization the annexed memorandum OF
the estimated requirements of the Richmond
and Danville Railroad Company to and includ-
ing July /, 1892
In addition to the stated requirements there
ls an amount OF unsettled vouchers outstanding
from the operation OF the Georgia Central rail-
road agRregating about 100000, the larger
portion of which our counsel advises we will be
nelu liable 70 pay. II is evident, consequently,
phnt measures must be taken in season TO pro-
tect the company from embarrassment, and
most earnestly beg that the committee will
hasten its operations to such extent as to pro.
vide for maturing obligations.
The floating debt of the Richmond and Dam
Vile is secured in great part by pledge of col
Iaterals belonging to the Richmond and West
Point Ter isa \. Railway and WAREHOUSE Com
sued to the syndicate maturing juno l. and the
embarrassment OF the former must inevitably
involve tho latter company. 1t has no income
to meet it's fixed obligations when they mature,
excepting through the operations OF the three
railroad systems In which 1t is Interested Of
which the Georgia Central IL IN control Of the
OHltcu oOdbcS COuTI. Inc East tennessee, VIZ
ginia and Georgia Railway Company will also
need SUM approximatng 100000 over re-
ceipts from operations to carry it over July /,
1891
Unless provision is made for the financial
need of the companies in season, most serious
danger is threatened, and should the holders of
the demand obligations of the two companies
become alarmed q crisis may at any time be
precipitated. Yours truly.
w. g. OAKMAY. President.
1t was not expected that the letter would
be made public.