The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-03-07
THE TALK OF THE DAY.
THE CENTRAL RRCEIvEaSHIP
SUPPLANT5 SUNDAY CLOSING.

WI Oo OdIEAsa GNELneE-Gchs AASA-
ander Back, But Has Little to Say.
Hon. Pope Barrow Writes a Spicy
Letter on Judge Speer.
The breaking Of the lease OF the Central
through the injunction proceedings Of Mrs
Rowena Clarke was the all-absorbing topic
Of discussion again yesterday. Around the
! hotels little else hardly was talked about.
One wsl-known Savannah man suggested
that the Richmond and Danville will proba-
bly, disappoint people who are expecting a
big legal fight March IA. His opinion is
that when the bill of complaint is read and
an answer asked the Richmond aud Dau-
vile people will simply say that it admits
the illegality Of the lease, thus taking itself
out Of court and leaving nothing for Judge
Speer to do except TO order the Central
back into the hands OF the stockhold-
ers. Then the Richmond and Danville will
demand OF the Central the payment Of all
the claims IL has honored for IL since the
lease, together with the dividends paid out,
and then hand the property over to the
stockholders after the demands are met
The next step will be the calling TO-
gether OF the stockholders, and when Il
comes TO voting the big block OF $4,000
shares held by the Terminal company will
be polled In such a manner that the con-
troll of the Central will practically remain
where 1t is at present, without the stock
holders having any guaranteed rate OF In
terest.
A LAMENTABLE OCCURRENCE.
Another Savannahian said the break
ing OF the lease will be one
OF the most lamentable things
that has happened in Georgia since the war,
because 1t will work great injury to many
interests which have depended largely upon
Central securities for their income.
at means nothing else than the releasing
of the Richmond and Danville from the
per cent guarantee while the road will still
be in its possession to all intents aud pur-
poses. The charge for enjoining the AZ, 200
shares is conspiracy, but doubt If Judge
Speer will hold the point well taken. That
stock IL not owned by the Richmond and
and Danville, but by the Richmond
Terminal, which purchased it from
the Georgia Company. If there
was a conspiracy 1t was with the Georgia
Company and not the Richmond Terminal
Therefore it doesn't seem reasonable that
the Terminal company can be enjoined
from doing with its property what it GEES
fit, and it is only reasonable to suppose that
as this company is interested in the Rich
mond and Danville it's stock will be so voted
as to keep the Central in the latter's control
practically"
CHARGES OF NEGLECT DENIED.
II is authoritatively stated that Mrs
Clarke's charges that the Central has not
been kept 10 good condition under
the lease and that necessary repairs
were neglected Is far from being correct.
When the Richmond and DanviIle
took hold II found q great many broken
cars and engines and the tracks ia need of
considerable attention. These cars and en-
gines were repaired and over twenty>six
miles Of steel rails laid on the main stem.
Besides there was at the time the suit was
brought more timber distributed and ready
to put down on the roadbeds than has ever
been known in Centrals history. As regards
that portion of the bill claiming that roll
ing stock was transferred to other roads, it
can only be based upon the fact that for
about three weeks during the summer one
locomotive was rented out TO the Charlotte,
Columbia and Augusta railroad
to run between Charlotte and
Columbia. Not single piece Of the Gen.
trails rolling stock besides this has ever
been run on any line other than its own
since the Richmond and Danville took
hold.
II defy any one, :" said railroad man, ''to
deny that the tracks of the Central railroad
are not in finer condition now than almost
at any time in its history, or that the Rich-
A1On4 tAiAQ OhuNllo u6a nOb given Us KOOus
safe and quick service as when the Central
was operated as an independent line."
GEN. ALEXANDER BACK.
Gen. Alexander returned yesser-
day morning from Macon, where
he went to consult with
Judge Speer. He has as yet received no
communication from the Terminal people
in New York, and he says that he is simply
carrying out the order Of the court and
awaiting developments.
Il thought that was doing the best
thing for the interests Of the stockholders, !"
said Gen. Alexander, Sin communicating
the lease, and think SO yet. They were
given q guarantee on their stock, which
made it valuable property"
The Central railroads stock and bonded
Indebtedness, Gen. Alexander said, is as
follows:
Stock. 81. 300. 900
Tripartite mortgages ................ 5000, 600
Collateral trust bonds .............. 4,SS0, 600
Savannah and Western bonds. ... Q, 125. 900
Columbus and Rome and Columbus
and Western bonds. / 900 600
Certificates of indebtedness. ......, 4600, 900
Ocean steamship bonds ,............, 1000. 600
Savannah and Atlantic bonds. ........ 20, 1000
Stocks OF leased roads. ............6 $500, 900
DEVELOPMENTS EXPECTED TODAY.
Director George J. Mills said that every
| thing Is still IN statu quo, and DEVELOPMENTS
are being awaited. Probably there will be
some news to-day from New York. Mr..
Mills doesn't think shat the Richmond and
Danville people are going to sit idly by and
allow the complainant to have everything
| her own way.
A. X. Lawton, Jr., of the firm of Lawton
| q Cunningham, Is not prepared to state
whether postponement Of the hearing for
permanent receiver will be requested. 1t
depends, he said. altogether on whether all
| parties are ready.
Judge Henry B. Tompkins of Atlanta,
who Is attorney for the Central Trust
Company of New York, which holds a mort
gage for che last SIS, 000, 600 bonds issued, is
| going to take hand In the litigation.
There is said TO be pending another attack
on the Central lease. Some weeks ago the
counsel OF the Richmond Terminal filed an
injunction to prevent the state railroad
commission from enforcing its order
| regulating joint rates. The as
sis.ant attorney general, in preparing
his answer to this bill, has attacked the
legality of the lease of the Central to the
| Georgia Pacific.
Thus it will be seen that the ques-
| tion decided by Judge Speer would have
| been brought before the courts anyway
very soon by the legal representative of the
railroad commission. Judge Don A. Pardee
! of New Orleans has been requested to sit
with Judge Speer at the hearing on March
IA
MR. BARR0w'S LETTER.