The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-06-10
What the R. and D. Wants.

judging from some Of the statements
which are appearing In a few newspape RS
of this state the Richmond and Danville
would like very much to have the litigation
between itself and the Central stopped.
And there is no doubt the Central would
like to nave it stopped, but it is not prob
able that the Central will cease its effort
to get what it has good reason to know be-
longs to it. Mr.. Oakmau, president Of the
Richmond Terminal, is reported to have
said in Atlanta a few days ago that the
suit begun by the Central against the Rich
mond and Danville looked as If it were
based upon desire 70 iDjure the latter
road. II Mr.. Oakman made such a state
ment he must have been talking for effect,
or else he is unacquainted with the history
of the trouble between the Central and the
Richmond and Danville.
II there is any spite on either side it is
on the side of the Richmond and Danville
The management of the Central is guided
by a sincere desire to get the Central out of
the unfortunate financial trouble In which
the Richmond and Danville placed il. II
the Richmond and Dauville were friendly
to the Central, it would have raised no OBJ
lection to giving up the steamship stock
which had been placed In escrow under
circumstances that cannot be reconciled
with professions Of purpose to deal fairly
with the Central. The Richmond and Dam
Vile knew the Central needed this stock
to assist it in meeting maturing obligations,
but, although not able to make any use OF
1t itself, 1t refused to permit the Central to
haveft. Does that show that the Richmond
and Danville is anxious to deal with the
Central in friendly wayl Does it not
show, rather that the Richmond and Dan
vile is determined to do the Central all the
Injury it CAM
And what showing against the Rich
mond and Danville the decision OF Judge
Speer in the case OF the steamship stock
makes! Can any one having an interest in
the Central read the history Of how that
stock came to be put in escrow without a
feeling Of indignaionl The impression
made by the correspondence, set forth in
the decision, between Gen. Thomas, Mr..
Rutherford and Gen. Alexander, is that
the Richmond and Danville intended to
get all the revenues of the Central rail-
10 az py5leu "AIhOuG paying Lue OOhkdOlOus
of the system. The Richmond and Dan
vile took control of the Central on June l,
1891, with the understanding that it would
pay all the fixed charges OF the Central and
Z per cent dividend on the Central's stock.
Did it pay the fixed charges or the divi-
dead that became due on July following?
It did not. The Central borrowed the
money and paid them. And when the diVi-
dend and fixed charges of Jan. l, 1892,
were about becoming due. what course did
it pursued Why, 1t made claim against
the Central and declined to meet the jan
uary payments unless the Central turned
over to it its steamship stock, worth about
s.. 100000.
Does it not look as though the purpose Of
the Richmond and Danville was 90 ignore
its obligations to the Central which tho
lease imposed and to get possession Of all
the Centrars securities that were valuable3
And yet President Oakman talks as if he
thought the Centrals suit against the Rich
mond and Danville was inspired by spite.
He ought to have taken second sober
thought before making statement Of that
kind. 1t was very unhappy day for the
Central when it was carried to Wall street
and turned over to the Richmond Terminal.