The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-05-29
TERMINALS NEW FRIENDS.

Drexel, Morgan g. %. a Concern That
Inspires Confidence.
NEW YoRK, May 2S.-When a banking
house comes to stand so well on two conti-
nents as to make its undertaking of any
thing practically Synonymous with success,
its reputation is indeed enviahle. Drexel
Morgan q Co. have made this character
for themselves, and ID is that which makes
everybody believe that their consent to
take up and investigate the complicated af-
fairs of the Richmond Terminal Company,
will, if they undertake the reorganization,
result in the best possible solution of the
complex problem. Their ability for such
work 10 not based solely upon the fact that
they have command of unlimited money
but is the result Of their wide experience
aud intelligent and straightforward
methods. They never waste any
| time. Once determined upon a course
of action they pursue it vigorously
| fashion they will handle she Terminal
affairs Samuel Spencer, the railroad rep
resentative of the firm, will leave for the
south next Monday night. He goes to
| spend two weeks or more on the various
lines OF the system. He goes for business
| only, and when he comes back he will be
thoroughly informed as to the physical con-
erty. He will also acquaint himself with
the earning capacity OF the various lines
and study closely the possibilities for fur
thering the material development Of the
| country through which they run.
THE SPECULATIVE WAVE.
The first speculative wave of excitement
incident to Drexel, Morgan & Co. becoming
identified with the Terminal properties
spent itself quickly, but the substantial
benefit which will grow out of their con-
nection with it are iucaloulable. They
have a contempt for failures in the stock
market. They go in for bigger game and
give their ener Eies and genius to the
honest, faithful aud intelligent conduct of
any and all affairs with which their name
is connected. They never wear the collar
of any clique, but work on independent
lines, determined by their convictions. |
am justified by the highest authority in
saying that it is In this way they have
taken up the Terminal reorganization.
They go into the matter without the slightest
pledge Of partiality to any man or
set of men heretofore identified with the
Terminal management They admin obliga-
the property. and for that reason the hon.
esty aud wisdom OF their course, il they
agree to act, will be unquestiopable.
OF GREAT ADVANTAGE TO THE SOUTH.
To have them thus connected with this
vast railroad system will be Of Inestimable
advantage to the south. There is nothing
that has happened in the financial history
of that section since the war more impor-
tant to the material development and sub
stantial prosperity ss of it and its
people. Much Of the adverse legislation
and public sentiment which has heretofore
been aimed against the Terminal company
may have been more or less justified by the
policy Of Tvs management, but from now on
lawyers and lawmakers and the public
may rest easy in the faith that everything
will be done for the legitimate enhancement
of ali the property affected by the system
and for perfecting the railroad service. The
south should welcome this change of condi-
tions and render every possible assistance
toward carrying out the plans which
Drexel, Morgan & Co. may inaugurate.
Their programme will no doubt be
broader in It's contemplations and sounder
in its financial provisions than anything
heretofore recommended, and they will be
Influenced by no Wall street coterie OF stock
market manipulators. All the parties OF
the present and past Terminal regime ad-
NIT this and the general public knows
IL to be So .4a- M j. V.