The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-07-30
THE DUAL RECEIVERS arp.
Receiver Corners Conference With
Judge speer in Reference TO Judge
Newmau's Appointment.

Receiver Corners Conference With
Judge speer In Reference TO Judge
Newman's Appointment.
| Receiver Conner returned yesterday
morning from Macon where he went 10
| investigate she remarkable action Of Judge
Newman Of the United States court OF the
Northern district in appointing receiver
for the Macon and Northern railroad in
Atlanta Wednesday night, while the road
was already practically in the hands OF a
receiver and under the jurisdiction Of
Judge Speer's court.
J. H. Rucker Of Athens was appointed
receiver Of the Macon and Northern by
Judge Newman Wednesday night In At
lanta. The appointment was upon the petit
tion of Edward Van Name who holds S12, 600
Of the bonds. The Macon and Northern,
formerly known as the Macon and Coving-
ton railroad, running from Macon TO Ath-
ems, was jointly leased by the Central rail-
road and the Richmond and Danvile at an
annual rental OF AZ per cent. INTEREST on
81 200, 900 Of bonds, or $4,000 per year.
This rental is payable semi-ennually by
the two roads jointly interested in the lease
on March l and Sept. l.
When the Central railroad weat into the
hands Of a receiver a board Of managers
was selected by the Richmond and Danville
and the Central to control the rood, 30 that
IL would not be operated at disad vantage
10 either. N. E. Harris Of Macon was con-
sidered by both parties suitable man for
president. and was named by the former as
the CentraIs representative on the board,
together with J. F. Hanson of
Macon, who was also named by Mr..
Conner. The Richmond and Danville
named j. II. Rucker and A. II. HodRson
of Athens to represent it On the board.
These gentlemen were constituted officers OF
the court by Judge Speer under the Cen
trail receivership. Their management has
been satisfactory and the road has paid all
its obligations as they matured. Conse-
quently the appointment OF receiver was
unnecessary, as it was unexpected. 1t is
not only unnecessary, but IL is In direct
conAict with the authority Of Judge Speer's
court
Judge Newman is believed by the Central
people to have acted under misapprehen-
sion as to toe facts of the case. Judge Speer
will confer with him Immediately and will
explain the situation TO him, and ID is be-
lieved he will reverse his action In the ap-
pointment.
The inwardness Of the whole thing IL be-
ieved 10 be an effort upon the part Of the
Richmond and Danvilis to get entire con-
troll Of the Macon and Northern without be-
coming responsible for its rental or its
operation, but securing its use as feeder
against ths Central.
Mr.. Rucker, who was appointed by Judge
Newman, was one OF the appointees Of the
Richmond and Dauville to tho board of
control in whose hands the road was placed.
President Harris of TIE Macon and
Northern railway claims that the railroad
is perfectly solvent, and that arrangements
have been made TO pay its next seminar
nual interest of S49, 800. Tho petition
for the appointment of receiver
charges that tho lease was invalid
according to the constitution and laws Of
the state, that the road Is insolvent, that it
is being operated at loss, that the lease has
been practically abandoned by the lessees.
and that neither of the lessees intend to pay
the $40, 500 due in September
President Harris of the Macon and North
ern states that the roads finances are in
good condition and that arrau gements have
been made to pay the September interest.
IL is thought that as soon as Judge Speer
explains the situation to Judge Newman he
will reconsider his action and leave the
status of the road the same as before the
appointmeut of a receiver