New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-06-30
The y. S. Comment officially re-
ports ROYAL Baking Powder
superior to all others in leaven-
ing strength (SaAa" 10. As1Oy@hso9)' IL
Is the best and most economical.
RAILROAD INTERESTS.
RICHMOND TERMINAL AFFAIRS.
M CHANGE IN pREXEI, MORGAN & CO.'S AT
TTTUDE-UNCERTAINTY A. TO TIE FUTURE

RICHMDND IJsi.MlNiL AT -hiiN-''
no CHANGE IN DRExEI., MORGAN CO.'S AT
TrrUDE-UYcERTAINTY A. TO TIE FUTURE
OF THE PROPERTY.
The refusal Of DreXe Morgan q CO. 10 unoc'''Ne
the reorganization OF the Richmond Ierh1n" s'7'o"'
has plunged that overburdened property mo ueri
seas Of uncertainty. rescue from which seems "''
becoming more difficult There IS disposition OH ,"c
part of those most interested 10 postpone iur'her
action unti next week when the Fourth Of July III
,crr,ntons will have been passed and the heavy III
tercs payments which mature toHoIro" VIII h''c
been disposed OF either by payment or DEFAULT lhcro
was some expression yesterday Of the opinion thht '
work OF reorganization would yet be taken up o' 'ne
grc,, banking firm II was asserted that Drexcl
Morgan e. Co. had agreed 10 withdraw their demand
that majority Of all classes OF Terminal securiu's
no deposited with them and that W. p. clyde would
be compelled to recede nom the position ne haa taken
as regards the litigation proceedings.
Representatives Of Drcxcl Morgan & Co.. however
declined TO discuss the subject, saying tha' uh"c'
existing circumstances the firm had no reason 10
change its attitude. They also declined to give any
further statement as TO Mr.. Clydc's position, or 10
give out for publication the correspondence between
them, as had been suggested In the statement Issued
BY Mr.. Clyde late on Tuesday night. They said how
ever that Mr. Clyde could give out the correspondence
If he wished TO.
Receiver IIuidckop.r returned yesterday with Judge
Bonds order for tn" payment Oh Jus VI" ~
Richmond and Danvllle securities In 1t nothing wnS
smd about the payment Of interest the consolidated
6 per cent bonds. This will he In default unless other
provision is made for It by tomorrow. oruers vi
court for the payment OF Interest on East tennessee
Virginia and Georgia securities were also received.
Among financial people great disappointment was
expressed that tho Preparations # Diracl. Norenn d
Co for the Richmond Terminal Reorganization hai
been interrupted. II. c. Fahnestock, of TIE First Ma
tlona Bank said in reply TO Inquiries that he ard HE
friends who holders Of sc'ugitIe, Of The lachn'd
Terminal system earnestly DESTROYS that the r.
organization should be undertaken by DrcXl. Morgan
Co.. and that it wax to the interest Of every holder
" such securities that any obstacle IN the way oil
giving control OF the system the proper time TO the
nominees Of that house should b" removed IL earnestly
hope ne added that way will be found to remove
the objections pointed ont by Mcssrs. Drxei Morgan
d Co. and feel convinced that 1t Is the interest and
duty Of all Richmond Terminal security holders to as.
sst In bringing this abont.'
baltimore, June 29.-An order Was signed by Judge
Bond yesterday authorizing the receivers u the Rich
mond and Danvc Railroad Company to Issue re,
c-ivcrS' certificates TO an amount 10, cN.shhhg
operating expenses II the Richmond and Danvile
prior 10 the appointment OF receiver, and the car
rentals and interest obligations Of the leased lines
Inc receivers eXpcc, TO pay o"t about 27"oonl dur,
Ins July The ndeT was Md Tn m e ,od ~
This ,clion Of rndec Bond in granting MS sPPIica.
ton. which had been signed bg nearly all ID" bankers
and brokers IN the city who arp Interested III ~" Ken
mond and Danvt. securities and by Of the large
security holders Themselves was received with s1iis
faction. The signing Of the order mcau, the prompt
payment If the july interest on the Richmond and
Danvillc bonds. The Application f. simply cspiiula
ton OF al outstanding obligation II The Richmond
nnd Danvilc road and The receivers certificate are
first lien these obligations. ly their
issuance the receivers enabled q the money IN
the treasury for the payment n the Interest on III"
bonds, ard this will be done.
The refusal Of DrcNel Moran & Co, t. take charge
II the reorganization II ~" Kchm'n nd Terminal sy-
TEN had disturbing effect whaicv"r among the
holders Il The Terminal securities. n only DfcasOncd
speculation rs 10 what step the New York syndicat"
who hold stock ~ the Terminal Company would next
take looking TO the end. Many Il The holi"r~
~ the Richmond and Danvc securities. In which
Bamor II mainly Interested. expressed the opinion
that II for the lest Interest O hi. branch ~ the
Terminal system that DrcNcl. Morgan - CO. had
fused The task. they had hope TINT each branch
of the system would be rcDrGanLcd separately.