The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-07-21
TERMINAL PAPER B00MS.
THE MOVEMENT BASED ON A LOT
OF EMPTY RUMoR5.

Morgan Again Denies the Story That
His Firm Is to Attempt the ReorGani-
3ation OF tho Property-Stone and
Clyde Anxious to Retain Their Hold
on the Dsnville.
New York, July 20.-There he's Of late
been ar uumistakable revival of interest in
Terminal affairs, evidenced by the improved
price Of all the securities. Wall street is
standing in anxious expectancy of new do
velopments. The committee consisting of
George r. Stone, W. p. Clyde and j. @.
Maben has had no formal meeting until to-
day. Nothing authentic has been given out
regarding the proceedings OF that meeting.
but various rumors of conflicting charac-
ter have been set 10 circulation and on thess
Sensational stories the Richmond Terminal
stock aud bonds were bid up sharply to-
ward the close of the market.
MORGAN DENIES A RUMoR.
One report is that Drexel, Morgan q Co.
have signiied their willingness to undertake
the reorganization provided Sam Spencer
be made coreceiver with those gentlemen
now occupying that position toward the
Dauville aud the Richmond Terminal, and
that the Stone-Clyde party are agreeable to
these terms. Mr.. Morgan is quoted as deny-
ing this report fatty aHd saying that the
letter of his firm TO the committee OF Ter
minal security holders was their ultimatum.
ANOTHER FIRM NAMED.
Another story is that Barring, MaRoun a.
Co. have expressed positively their readi-
ness to undertake the reorganization, and
have gone so far even as to give some OUT
line OF the plan they would pursue. The
only substantial reason for to-day's im-
unA IN rIA
however, was the authoritative announces
ment that the entire floating debt OK tha
Richmond aud Danville had been provided
for by an extension of two years.
PUT OUT TO MYsTIFY.
A close student of the situation suggests
that these various rumora are put out sim
ply 70 mystify and tempt the public until
after Aug. 10. The Importance Of that date
lies in the fact that Judge Bonds order ap-
pointing temporary receiver for the RichS
mond and Danvllle expires then. This
same gentleman suggests that the interest OF
Messrs. Stone and Clyde is almost exclusively
in the Richmond and Danville, and that
they are anxious to have the receivership
made permanent, in order that their control
of that property may be made thereby per-
manent and absolute. After ALL this may
prove to be the "nigger In the fence" aud
the general Terminal security holders wake
on Aug. II to find their last estate worse
than the frst." NJ. Nv.
REPORT OF THE COMMITTEE.
By the Associated Press.
New YORK, July 20.-The conference
committee OF the Richmond Terminal Com
pany to-day reported TO the advisory CONS
mittee that the floating debt of the Dam
vile company has been exte ldsd for two
years, thus leaving the company with ans
Die time in which TO effect reorganization.
No bankers have yet been arranged with,
but Chairman Stone has drawn up
q plan and formal announcement of
its points will soon be made. The
advisory committee was only short time
in session and then adjourned subject TO
the call Of the chair. IL was announced
after tho meeting that the report Of the con-
fercnce committee had been we'll received,
and that committee was asked to continue
upon the lines in which they are now
operating. 1t was officially stated that the
affairs Of the company have improved so
greatly that the plans of reorganization ara
held practically in allegiance