The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-03-05
doing businsss being fixed at High Point,
\. c. and its capital stock at $1,000, 900.

\. c. and its capital stock at $1,000, 600.
a CHARGE OF TRICKERY.
Your oratrix charges, upon information
ana oeiIeI, mat the persons named as cor
poTators had no real interest in the CORPORA
uon, aud that upon its organization they
turned over the entire interest, manage
/ ment and control to the parties hereinbefore
named and their associates, who thereupon
transferred and conveyed to the Georgia
| company the Il, 700 shares Of stock Of the
Central Railroad and Banking Company,
which constituted the entire property Of the
Georgia company.
shortly after the entire stock Of the
Georgia company was issued or transferred
to the Richmond and Dan7ills Terminal
Hallway and Warehouse Company. and the
4O,OOO shares Of stock OF the Central passed
into the hands Of the said corporation. The
Central Trust Company appears upon
the books OF the Central Railroad and
Banking Company as the real owner aud
cOntroll@s of the same. but 10 fact the Gen.
trail Trust Company is only nominslly the
owner, the real and beneficial
70 vote the shares OF stock
and thus to control the entire man
agement Of the Central Railroad and Bank
ing Company, and select such directors to
carry out its schemes aud purposes as il
may desire, being vested IA and held by the
Richmond and West Point Terminal Rail-
way and Warehouse Company.
EVERYTHING DICTATED BY THE R. AND d.
Thus controlling majority Of the stock
OF the Central Railroad and Barking Com
pany, and OF the Richmond and DanvilIe
E East ro 00%Dsny v HTS Of the the
Georgia Railway Company and of the Geor-
gta Pacific Railroad Company, and of the
Macon and Northern Railway Company,
and large number of the same individuals
being intere sted in the stock OF said COM
panies thus controlled, aud being directors
10 the various corporations. and the board
OF directors Of each and every one OF said
corporations having been determined and
elected by the general policy Of
the Richmond and West Point Ter
minal Railway and Warehouse Com
pany, il was entirely feasible for
the Richmond and West Point Terminal
Railway and Warehouse Company to make
such contracts and leases between two or
more of its CORPORATIONS as would most
effectually accomplish its schemes and
purposes, to defeat and lessen competition
IN the respective businesses of naturally
competing corporations and thus encourage
monopoly"
THE LEASE NULL AND VOID.
Mrs. Clarke charges, upon all the facts
stateds that the lease made June l, 1891, be-
tween the Central Railroad and Banking
Company and the Georgia Pacific
Railroad Company is null and
void upon general grounds Of pu bio policy,
and for this reason alone she insists that 1t
be set aside by the court.
She further calls attention in the fifteenth
ground of complaint that the Central has no
rights except those conferred upon it by it's
charter or allowed by the laws Of Georgia,
and that the lease is wholly null and void
and Of no effect i'll law because ik is obnOx-
1ous to article II the state constitution.
She alleges that the property OF the COM
pany has been and is now being diverted
from its uses to that OF the other lines con-
trolled by the lessee companies; that its
best engines are being used over
other lines OF railway and the earnings paid
into the treasury of the lessee companies;
that necessary repairs to the roadbed are
heiug neglected, and the tracks OF the Cen
trail are now in less safe condition than
when the lease was made; that its personal
property and equipments are being worn
out, and that from the manner in which
the property is being managed large dam
ages are liable TO accrue against it.
wRECKISG PURPOSE CHARGED.
Mrs. Clarke says she has been advised and
believes that in the event, either for the pur-
pose of wrecking the road for their own
interest. or by reason Of their inability
TO properly keep it up, the lessee
companies should permit the road and its
equipment to run down, and thus incur
any liability to the lessee company or should
make default in the payment of the rental
fixed by the indenture Of lease and a suit
should be brought against them the lessee
companies could set up the invaliditY Of
the lease as complete defense against
liability.
Mrs. Clarke claims that the claim Of
100000 in favor of the Georgia Pacific
against the Central is a pretended one.
The Georgia Pacific is hopelessly
iusolvent, and while she does not
In positive terms charge the
Richmond and West Point Terminal
Railway and Warehouse Company end the
Richmond and DanvIlle railroad with in
solvency, says that their entire management
is in the hands of Wall street men, who are
using them for speculative purposes and
that at the present time the corporations
are in shaky condition, SO much so that a
committee has been appointed and is now
at work for the purpose of resouing them
from their financial difficulties.
THE oLcorr REPORT ANTICIPATED.
One of the projects of the committee is,
Mrs. Clarke believes, in reorganizing the
various properties aud lines to issue
OF s5OO.OOO. 900, which project is
to be based in part upon their control of
the property OF the Central Railroad and
Banking Company.
After averriug that she is powerless to
call a meeting OF the directors of the corpo-
ration, Mrs. Clark says she believes that
the danger OF ruin TO her interests in the
corporate property by reason of the pro-
posed action Of the 0lcott committee ia
imminent and will be consummated before
any corporate action could be had. 1.-THE
board of directors" she says "are the Great
lures of the Richmond and West Point Ter
minal Railway and Warehouse Company,
the conspirators who are proposing TO
incumber the property with the
enormous debt Of 100000, 900. which it can
never meet. No steps would be taken to
assemble in response to a demand from the
oratrix. nor would they in any event con-
slider the application for relief"
THE BOARD ILLEGAL.
Mrs. Clarke says she does not feel it
obligatory upon her TO invoke the action Of
board which is illegal, and which has
been elected by stock transferred in
absolute violation of the fundamental
law Of the state the last annual convention
of stockholders had adjourned before the
unlawful plans of the 0lcott committee had
been developed and before she had any
notice whatever of the same, and the
next annual convention of stockholders will
not meet until next January.
Mrs Clarke charges that she and the
ether stockholders similarly interested are
II