The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-03-24
BAKING POWDER.
ABSOLUTELY PURE

familiar. He explains his order to Treas
urer Hall, OF the Richmond and Danville,
as follows:
MY first care was to secure ali Of the money
coming con IN from daily operations at all points,
anu al you VIII note that in my telegram to Hall
1oirecled MIN to suspend all payment on ac-
count OF receiver, that is for this reason: I'm
ger your authority when first appointed he was
autnorized 70 pay the back pay rolls and ac-
counts Now it has developed since that there
IS an exceedingly large amount of these pay
rolis and accounts of all sorts from three to six
months overdue, which having been incurred
by the Danvile road while in possession of the
property and in the enjoyment Of all It's re-
ceipts, and which should now be settled by that
company whether the lease be perpetuated or
not Under the present situation of affairs
y would plainly be to the interest of
me Dsnvlle road to let the treasurer
pay out every dollar that he may
take in as fast as rece iyed in the settlement OF
these old accounts and leave the court in the
position where it would not be able to pay the
pay rolls for the current month, for services
actually rendered since my appointment as re-
ceiver have heretofore Thought it prudent
TO Immediately arrest the payment OF any
money by Mr.. Hall and TO accumulate It all in
my hands, so that it can be applied as the
court may direct after full inquiry into the
situation.
fear the money in hands of receiver will not
more than suffice to pay current pay rolls, etc.,
and that the unpaid bills of lessee company
will at least have to be deferred il the lessee
cannot be made to pay them. As it is. we will
have to borrow considerable sum soon for
rentals. etc.
THE RECEIVERS POLICY OUTLINED.
Gen. Alexander's second letter is with re-
gard to the appointment of Mr.. Mcintyre
and the financial management of the road.
1t is interesting as showing the financial
policy of the receiver. In it he says:
have appointed Mr. Mcintyre, formerly con-
trouer or this road, as controller under the re-
ceiver and have sent him to Atlanta as CONTROL
er 70 exercise supervision over the treasurer and
auditor. Tine designations of these two officers
will not accept for the present but continue
To have them exercise their functions under Mr..
Mclntyres supervision Meanwhile | am get
ting all the money of the road primarily into
my hands as receiver and for the present am
paying only drafts for freight exchanges from
other roads, which would otherwise go to pro-
test. | had In hand Saturday night about
SlO0.OOO am trying to have prepared a state
ment showing the amount OF unpaid pay rolls,
salaries and vouchers of all kinds due by the
lesSee company for services rendered prior to
the receivership. l think the amount will ex-
coed S5o0.oO0-it may go to 100000. 1
can form as Yet but a very vague idea of it,
but 1t is beyond question that il the funds IN
my hands as receiver are to be applied to the
payment of these back bills, it will mere than
absorb all that have and all that will prob
ably collect in thirty days This, too, without
regarding the Georgia railroad rental due April
]. That would leave the receiver without funds
10 pay the pay rolls for the current month. If
the lease Is set aside, the very important ques-
ton will have to be decided whether the back
bills of the lease company will have to be paid
by that company, or whether the receiver of
the Central railroad will have to provide for
their payment | shall pay no more of them
without your instructions in the matter, al
though some of the employees are very earnest
and pressing in their demands for payment. as
the money in sight is not enough to go around,
and it would be a sort of grab game" to pay it
all out to the first corners -
/ note in letter Of the 18th
that If possible l would place the Macon DEPOT
under immediate construction AS l suppose
| the prompt payment of the employees is of the
| first Importance l venture to suspend action
| upon this matter until can lay upon you a
| more accurate estimate of available resources
and the fixed charges and current expenses Of
| operation, which will have TO be met
| have instructed Mr. Mcintyre to disentangle
| the Central's affairs from those of the Danville,
and to make preparation for the removal of the
| Centrals offices back to Savannah, but not to
| proceed with the removal until further orders.
| 1t will take him some days to make adequate
| preparations, and meanwhile through his super
! vision will have the whole business thoroughly
any of the joint officials until l am entirely
| through with them, and everything from the
beginning OF the recetvsrship fully accounted
| for
| 1t will be noticed by his letter that Gen.
| Alexander has taken steps to have the offices
OF the Central removed to Savannah as soon
as practicable, aud also to settle the ques-
| ton of pay rolls and other accounts, due by
the Richmond aud Danville. contracted
| while in charge of the Central