The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-03-22
CONTROLOF THE CENTRAL
THE DANvILLE WILLING TO LET
TIE MINORITY RUN IT.

The Danville Intends Withdrawing
From the Operating Management,
Regardless of Judge Speer's Decl-
sion-The Majority Holders claim to
Have Lost Money by Running the
Road.
NEW YORK. March 2l.-With reference
20 the abandonment Of the Central railroad
lease, the facts In the case are said to be
simply these: When the Georgia Central
railroad was leased 10 the Georgia Pacific,
the Richmond and Danvllle was requested
by the Georgia Pacific to operate the Geor-
ola Central under the lease for the benefit of
all concerned. The Richmond and Danville
acquiesced In the Georgia Paoific's request,
and at once. assumed charge of the Georgia
Central. Since that time the Danville has
not only run the operating department of
the Georgia Central, but has protected all
the maturing obligations OF the latter COM
pany and otherwise taken the best care
olit.
NO PROFIT RECEIVED.
This has been done with not only no profit
10 either the Georgia Pacific or the Dams
vile, but, on the contrary. at considerable
cost to the Danville. On the face Of this
denly very much complicated and the
credit of the Georgia Central seriously i'm
paired by the action Of a few minority
Central stockholders in securing the ap-
pointment OF temporary receiver for that
property. In view OF the fact that the
Central is now In control Of the courts and
that it is to be determined by that authority,
on March "a, whether or not the
Central receivership shall be made
poFmaDaDt tho of tho p iahr
and Danville have concluded to withdraw
from the operating management regardless
Of what the pending decision OF the United
States court may be as to the receiv ership
WILLING TO LET THE MINORITY RUN IT.
II the court appoints a permanent re-
ceiver the Danville would thereby be de-
prived Of the authority to operate the prop
erty, and if the temporary receivership be
dissolved the Danville is perfectly willing
30 let the minority stockholders of the Cen
trail take charge of the property and
run it. AS matter of fact the majority
stock represented by the Terminals
holdings has never tried to dominate
the minority interest IN any sense, but has
practically left the management with Gen.
Alexander and the resident members of his
board. II the minority stockholders can
accomplish any more for the good of the
property by running it independently and
on its own hook, than has been accom-
plished by the operation of the Danville to
run it In harmony and cooperation with
the other branches of the Terminal system,
the majority interest will hail their success
with joy. There have been no further de-
Velopments in the situation since Saturday
M. ".
EMPLOYEES AT MACON AROUSED.
MACON, GA, March 21.-The employees
of the Central railroad In Macon are in a
state of intense excitement and suspense as
to the payment of the back salary due them
by the Richmond and Danville. At noon
to-day mass meeting was held and a
delegation appointed to wait on Supt Cur
ran. No satisfaction could be Obtained In
this quarter. They then went to Judge
Speer, who referred them to
Marion Erwin. representing the minority
stockholders in the suit to break the lease
Mr. Erwin told them to file affidavits as to
the amounts due, and Judge Speer promised
them to protect their interests in the case as
far as possible. They were further informed
that 1t was necessary to collect their money
before the road went into the hands of a
permanent receiver.
1t is rumored here that charge will be
brought out on Thursday in the United
States court that contract between the
Georgia Pacific and the Central has never
existed.
PERFECTION OF THE LEASE
ATLANTA. GA, March 2l.-The rumor
was circulated here to-day that there had
never been any lease signed between the
Central road and the Georgia Pacific, that
there was some flaw in the transaction be-
tween the Georgia Pacific aud the Central
officials, and finally that the Central was
delivered over TO the Richmond and Dam
Vile without the papers having been per-
lected The statement was also current
tnat the lease had not been perfected in legal
form, and serious complications would
develop. Probably the only Atlanta man
VINO could answer positively that the lease
papers were legally perfected is Pat Calhoun,
out Mr.. Calhoun left for New York last
saturday and, therefore, could not bs seen
70 deny or confirm the rumor. Jack Spald-
ing Mr.. Calhoun's law partner, however,
SAID be was confident the lease had been
signed all right, though he had never seen
tne original paper. He had seen one of the
printed copies which were sent out. This
c.opy bore the printed signature of President
alexander and the Georgia Pacific officials
NEVER SEEN IN ATLANTA.
None OF the Atlanta directors of the Gem
Nal have ever seen the lease contract in the
VIiglnal, though all say they are confident
was signed legally and is in possession Of
resident Alexander in Savannah Capt
Iee6ng OF the directors when the lease was
Mtined: President Alexander signed it
aau then sent it to New York for
S Se signatures Of the Terminal people,
SIce that time Capt. Howell has
wv wv seen tthe lease. Sam Iuman and Hugh
suman also believe firmly that there was
TookedneSs in the lease transaction.
Icy both said when interviewed concern
NJ tne rumor that they were morally sure
S.s AZ lease contract was legally signed and
nVered, though neither has seen the pa
rrs ny IN the original, but have read the
sl.eo duplicates. Gen. Alexander can
II. ~ rest the rumors about the signing of
,., ease and the public in this part Of the
t.S' are waiting with no small interest his
euent IN reference to it.
,nna nuere seems to be nothing in the above
Sa.5rF' SSa9r' Printed copies of the lease show
TSa was signed aud executed June last.
aeo question arose some time
H.. as to the probability of the
sIv Almond !nd and Dauville, not having form
sn3o. .a1lhed this lease. To this Gen. Alex
rsd SAID the operation of the Central
eni,o the Richmond and Danville was
'~'alent to ratification.
II SHOWING IN TIE WEST.