The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-06-21
THE CENTRAL SAFE NOW.
MONEYED MEN LOOK UPON 1T
MORE FAVORABLY.

= |
81 Co. a Statement of the Company's
Condition-No Change in the Status
of the $4,000 shares-The Receiver
ship Cese-A superintendent to be
Named for the South Bound.
President Conner OF the Central returned
yesterday from New York, where he went
to attend the recent meeting Of the South
ern Railway and Steamship Association
and to look after the financial interests OF
the Central. He said the monsyed people
of the north now look upon the Central
very favorably. They felt that under the
Richmond and Danville regime it was in
uncertain hands, and are glad that 1t is out
of them.
The stockholders Of the Terminal system,
Mr.. Conner said, are anxious for Drexel,
| Morgan & Co. TO take hold Of and reorgan-
ize it, believing that the syndicate can put
it on good basis. In the reorganization
Of the Terminal the Central stock will be
treated simply as an asset Of the company.
| President Conner called upon Drexel, Nor
gan & Co. and gave them full statements
of the Centrals condition. together with its
relations with the Richmond and Danvile,
for which the banking firm thanked him.
THE $4,000 SHARES.
There has been no change in the status of
the $4,000 shares Of stock held by the
Central Trust Company, and President
Conner does not believe there will be any.
When asked what he thought of the action
| of the Richmond and Danville in placing
| the property in the hands OF receivers in
advance Of the hearing of his bill before
Judge Speer, Presidents Conner smiled and
| said he had little to say himself. Ii was
only a move to anticipate Judge Speer.
| IL was rather different from the way
| the Central got into a receivers
hands. That was on the petition Of a stock
holder, while security holders put the Rich
mond and Danville there. 81 heard" said
Mr.. Conner, "a very conservative man in
New York, in speaking of the proceeding,
remark that when Judge Speer appointed a
temporary receiver for the Central on an
ex parte application, and set a hearing for
| permanent receiver for ten days after he
was severely criticised. but when Judge
| Bond, on an ex parte application, appoints
| two temporary receivers aud puts off
| hearing for two months, not a word Is
heard from those who were 80 quick to
criticise Judge Speer."
A COMPULSORY STEP.
81 am not anxious to put the Richmond
and Danville into the hands of a receiver"
continued Mr.. Conner, but am acting for
the best interests OF the stockholders of the
Central We only want security for our
debts and if the Richmond and Danvillo
will give us q satisfactory woodworking
the debt we will accept it, made this
proposition to Mr.. Oakman some time ago
and told him it would be- easier to settle the
matter that way than to allow 1t to be set
tied by the courts. I believe Mr.. Oakman
would have done it il he could have dealt
with me without interference"
The condition Of the Central's roadways,
Mr.. Conner said, is not as good as it might
be. The Richmond and Danville reduced
its track forces to the lowest possible mini
mum with which the tracks could be kept
80 trains could run over them, and the
consequence is that things got into bad re-
pair.
TO PUT THE ROAD IN ORDER.
Mr.. Conner has had the force increased
and will endeavor to get the road back ia
first-class condition as soon as possible.
He purchased 10000 tons of heavy steel
rails during his northern trip. Most Of these
rails will be put on the main stem aud the
lighter rail will be taken up and put on the
branch roads.
II also intend to have the shop forces in
creased" said Mr.. Conner, "but l don't
want to put men to work and make them
wait thirty or sixty days for their money.
l believe the workmen should be paid
promptly. The increase will necessarily
have to be slow, as every possible unneces-
sary item of expenditure will have to be
cut off. Having TO pay the February
salaries without hardly drawing any
revenue from the road for that month
drained the treasury pretty well, and the
March and April pay rolls coming i'm
mediately afterward kept up the drain.
THE woRKINGMEN COME FIRST.
az don't like the principle of the big officers
getting their pay promptly on the first of
the month and the worklngmen waiting
| months for theirs as the Richmond and
Danville conducted things. 1t didn't treat
its workinRmen right"
President Conner was asked If he had any
thing to say about the charges against him
and other South Bound officials connected
with the Central that they were operating
the South Bound to the detriment OF the
| Central
''If undertook to answer all the lies told
about me, " laughingly answered Mr.. Conner
II would be kept busy all
the t knew nay yr,d whO knows
charge is. 1t emanated from the
Richmond and Danville headquarters,
ana if it gives them any pleasure let them
go ahead. might maze some sharp oritt-
cisms il l wanted to. but never mind. 1t
wouldn't do any good"
THE SOUTH BOUNDS AFFAIRS.
Speaking of South Bound affairs, Presi>
dent Conner said he will have to do some
thing soon IN the way of appointing officers,
as the road is now almost practically run.
ming itself.
1.-THE Office of general manager" he said,
"will be abolished. A superintendent will
hereafter dire,t the affairs of the South
Bound. was trying Co get man who
could attend to both the operating of the
road aud managing of the traffic Depart
ment, but find this can't very well be
done. l will have to appoint two officers.
The appointments will not be made, how.
ever, for a few days"
DREW BROUGRT BACK.