The morning news., 1892-03-17

Va O A6CclfcI tudb was lub ld1L straw 70
break the cameps back. so far as putting
the plan through was concerned unless radi-
cal alterations were made in It, and new
hackers for it secured. The strongest com
bination OF financiers available for the pur-
pose was the First National Bank party.
consisting mainly Of George F. Baker, II. G.
Fahnstock, James G. Garland, George S.
Scott and one or two others.
A STRONG SYNDICATE
These gentlemen command an inexhausti-
bic supply OF money, have been oonspicu-
ously successful in their Wall street opera
tions and are thoroughly familiar with the
Terminal property through their past con-
nsction with it long time ago.
AS the story goes, IL is said Mr.. Olcott
went to these gentlemen about ten days ago
aud asked them if they would eutertlin the
idea OF associating themselves with him in
the contemplated reorganization of the
Terminal property. They consented to do
50 upon certain conditions, which oondi-
tions were OF their own making and without
personal consideration for anybody con-
nected with the TERMINAL management.
One OF those conditions was that the Geor-
gla Central railroad should be left entirely
out OF any plan looking to the
unlhcation and reorganization of the other
properties embraced in the Terminal sys-
tenn. Here the curtain falls and further de-
tails OF the conference between Mr.. Olcott
and the First National Bank crowd are not
to be had. The terms. however, must have
been entirely satisfactory to Mr.. Olcott, for
he proceeded at once on an entirely ne W
line Of action. 1t being remembered that
John II. Inman had for long time ex-
pressed not only willingness, but desire
TO retire from the presidency of both the
Terminal and the Danville, he was ap~
preached to know what he thought of W.
@. Oakman as his successor.
oAKMAN DECIDED ON.
Mr.. Inman Endorsed lMr. Oakman heart
lily. and thereby that first vital step In the
new programme was settled then and there.
The next move was to put Mr.. Oakman in
the highest possible place that could be
made for him in the East Tennessee, Vir-
ginia and Georgia management, and ac>
cordingly Gen. Thomas was asked IL he
would be willing to vacate the chairman
ship Of the East Tennessee directory in fa-
vor of Mr.. Oakman. This the general con-
sented to do, and the suggestion was carried
into effect yesterday.
AT the meeting of the Danviile directors
to-day Sam Inman of Atlanta resigned
elected In his stead. J. H. Inman,
though retiring from the presidency
OF the Danville, romans in the directory.
At the meeting of the Terminal directors r.
L. Wilson resigned from the board ami w.
q. Oakman was elected In his stead. Then,
upon Mr.. Iumans resignation of the Ter
minals presidency. Mr.. Oakman WAS elected
to that office. 1t is said on the street this
afternoon that these changes In the manages
ment of the Terminal. Danville and East
Tennessee are only forerunners of the many
more that will quickly follow.
A BRAND REV DEAL.
Tn Othar words II 10 hropd x,ary JooI
from top to bottcm. and while ]. H. Inman
and Gen. Thomas will probably remain in
the directory of the several corporations of
the Terminal system the control
of the whole business practically
passes into the hands of the
First National Bank people and
their associates. It is said further that
J. Kennedy Tod and Winslow, Lanier &
Co. are identified with the First National
Bank people. Thus far the Calhouns do
not appear as being in any way whatever
connected with the new deal. The important
alteration in the precono oeived Olcott COM
mittee programme consists of a material
reduction in the aggregate issue of new Sc
curities to perfect the reorganization. This
comes about mainly from the fact that the
Georgia Central is not 10 be in it. OF all
those heretofore prominently identified with
the management or control of the Terminal
system, there is only one who is said to
have any conspicuous part in the new deal,
and that is the far-sighted and quick
witted Ohio statesmen-Senator Calvin 8.
Brice. 1t is reported that he is in perfect
accord with the new turn which has been
given to affairs and that his views will be
just as powerful in the new regime as they
have been heretofore in the old manage
ment. In other words it appears to q
man up tree that the senator has man.
aged to play his cards well enough to make
himself Indispensable to the powers that
are to be. and so far as the game has pro-
gressed it fails to appear that he has missed
a trick. MI