The morning news., 1892-03-15

ing 100 shares of Central. Mr.. Erwin an
nounced that be would act with Mr. Perry
and Mr.. Rountree.
The next motion made was Mai. Bacon's
Intervention. 1t was a very lengthy paper
and occupied nearly three quarters Of an
hour In the reading. 1t was By all
odds the most interesting feature of the
session, and was listened TO with intense in-
terest by the lawyers OF both sides and
the spectators. The purport of the inter
ventlon was not known until the motion
was read in full in court 1t proved to be
the strongest possible paper against the
lease and in favor of receiver, and bris-
ting with stroug assertions OF facts and
points of law. He Endorsed and averred to
the original bill fled by Mr.. Rountree, and
took position against the Richmond Ter
minal Company. specifying 1t as monopoly
controlling the majority of the railroads of
the state, contrary to the constitution of
Georgia, and attacking the pretended"
lease as illegal.
ENDANGERED TIE CHARTER.
He said that the directors OF the Central
railroad had illegally arrogated to them
selves powers not conferred upon them by
its charter, and had become liable to
be deprived OF the charter of the Cen
tral railroed, and had made such
action by the state extremely probable.
He attacked the holding of the 40, 900 shares
OF Central stock by the Richmond Termi-
nal as illegal and use as in violationof the
constitution of the state of Georgia, by de-
stroying competition. Heattacked the COR
porate existence of the Terminal company
in the state OF Georgia as unauthorized,
ana averred that the Georgia Pacific rail-
road had illegally turned the possession of
the Central over TO the Richmond
and DanVille and the Richmond
and Danville has taken possession
Of all its personal properties and pa
pers, and has. in utter disregard of the
stockholders, effaced the numbering and
lettering of the cars and rolling stock. He
claimed that the Richmond and Danville
had appropriated the revenues and
devoted the same to the treas
ury of the Rlcnmond and Danville.
IAN application was made to the president
OF the Central railroad by your orator for
a copy Of the contract and the reply came
that he knew nothing of it," Mai Bacon
charges that the property has been per-
mitted to run down and become deprecated
from lack of repair; that freight that be-
longed TO the Central has been delivered to
other roads; that while the number of trains
on other roads have been increased they
have been decreased on, the Central and
large numbers of the citizens of this state
have been thrown out Of employment
thereby.
THE SECURITY INADEQUATE.
He declared that the lease was not only
illegal, but the security for It's performance
is utterly inadequate; that the Geo rgia
Pacific Railway Company is an utterly in
solvent corporation and the Richmond and
Danvjlle and the Richmond Terminal COR
porations of very doubtful solvency; that the
disposition of its administration was to
utterly wreck and bankrupt the Central
railway. He said Your orators. not Inc
tending TO include al of the directors Of the
said Richmond Terminal Company, aver
that some of said directors whose names are
set out In said original bill, are the foremost
and most notorious railroad wreckers of
this hemisphere. who have been many years
engaged in the gathering of untold m illions,
many Of their transactions In that regard
being of almost continental magnitude, and
your orators charge, upon reliable informa-
tion, that it is the purpose Of the con ntrolltng
directors in said Terminal board, by the
means and use of the illegal contracts and
acts aud devices herein complained OF,
to utterly wreck the said Central Railroad
and Banking Company, to completely de-
stroy the value of the capital stock of the
same, and thereafter by the well-known
and often-repeated methods, to become
themselves the owners Of the property after
the process Of insolvency and subsequent
reorganization of the company; and your
orators charge that the potent and resist
less agency by which this disastrous result
is intended to be accomplished is the block
of said AZ, 200 shares OF the capital stock Of
the Central Railroad aud Banking Com
pany thus illegally held, by which said
Terminal company, without the possibility
of question or successful opposition, selects
and dictates the election of the
directors aud all other officers and
employees of the said Central
Railroad and Banking Company,
and absolutely dominates and commands
every act of said railroad company; that
the pretended lease is not only illegal and
void, but it was never the design of the in
genious manipulators to turn over the Cen-
tral to the Richmond and Danville; that
under the charter of the Richmond and
Danville, In Virginia it is denied the right
to lease any competing line in the state of
Virginia, aud, therefore, it is assuming
powers in Georgia that it is denied in Viz
Rinia that the revenues OF the Central were
used to supply the deficiencies of other
roads: that the stockholders OF the Central
were not consulted in making the lease;
that your orator has declined and refused to
receive the dividend on bis stock; that it is
a great wrong to the other shareholders OF
the Central for the Terminal to hold AZ, 900
shares of the Central illegally a.that the
Richmond Terminal Is not authorized by its
charter to lease a competing railway in the
state of Georgia and had no corporate power
to indorse a bond to secure the lease OK a
competing railroad company"
Referring to the claim OF $40, 900 OF the
Georgia Pacific against the Central he said
that Il was made up of car mileage and
other running accounts for which the oper-
ating railroad was responsible by the ter ms
of the lease.
MAI. BAooE's PRAYERS.
The Intervention closed with the follow