The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-01-04
COULDN'TIPTHEYW WOULD
GEN. ALFxANDER'. REPLY TO PAT
CALHOUN'S L4TTsR

Re Tells Why the Richmond anc
Dsnvnle Cannot and Is Not Trying
TO Wreck the Csntral-The Danville
People Have TOO Much Money IN It
Gossip as to the Dropping OF tbs
Calhouus From the central Direc
tory.
Pat Calhoun's letter to the people Of Geor.
gia, published in the MORNING NEWS yes
terday, was the subject Of general comment
among business and railroad men and the
public generally. All sorts Of views were
expressed. but the phase of the situation
chiefly commented upon was the sudden
about-face of Mr.. Calhoun since he is so
suddenly out Of the Terminal company.
Gen. Alexander was seen in regard to Mr..
Calhouns letter. de said:
"As 10 the personal issues with the DAN
Vile directors raised by Mr. Calhoun. l
have nothing to say, but as the statement
that they propose to wreck the Central
railroad is calculated 10 cause serious losses
TO many holders OF our stocks and bonds, |
have TO say that / do not believe either that
they would do it II they could nor that
they could do il IL they would. They
would not do it If they could because
they have IS 900, 600 invested In it, which
will be worth 100000 under good man
ageDent, but which would be the very first
money lost in the wreck If ono were made
or allowed TO occur. When they made this
large investment in the Central railroad it
was the Central road which captured them,
not their capturing the Central They can
only get their money back by developing it,
by fighting its battles and utilizing its ad-
vantages. II has already exercised an in
fuence upon them greater than they them
selves foreSaw, or would have perhaps
willingly contemplated in forcing them to
bring their general management 60 Geor-
gia, and the mutual advantages Of the con-
sOlidation are now too apparent not to be
appreciated or p eserved.
BOUND BY THE LEASE.
Neither could they now do 1t II they would.
The lease is binding contract which the
courts will enforce il necessary. Neither
Mr.. Calhoun's life. nor connection with the
property. nor my own, nor that of any
other individual, is necessary for it's pro-
lection. The law is not slow In guarding
the interests Of minority stockholders. aud,
as in all other corporations, those OF the
Central may feel safe under its provisions.
They have not only a solvent but a very
valuable property, and no one can take it
away from them.n
Gen alexander declined saying anything
as to the reasons which led up TO the drop
ping of the Calhouns from the Central
board. He said be believed the cause to
have been a personal one. He had heard il
rumored for some time that the Calhouns
were not in harmony with the rest Of the
Terminal people.
DON'T THINK IT WILL AFFECT INMAN.
Gen. Alexander was asked if he thought
the Brice- homas and Inman fight had any
thing TO do with the dropping OF the Cal
houns, and if it would affect Mr.. Inman.
He said he did not think the reported dis
sessions in the Terminal had anything b. do
with this step, or that Mr.. Inman would be
affec ed bl 1t.
The belief is general that as the Calhouns
and Inmans are very intimate the dropping
OF the Calnouns means a victory over MIR.
Inman aud his ultimate retirement from
tie presidency Of the Terminal
A prominent financier in discoursing the
subject, said: "Pat CalhOun's let
ter makes funny reading. The element
that he nad taken large part IN creating
and defending the Terminal system sounds
preposterous Pat Calhoun had about as
much to do with creating the Terminal sys-
ten as you or i his influence in main
tai ing it vas just about as great
"IheCalhouns were enabled 10 hold large
DiocA VI IeEIhlHal SbOcB Dy borrowing upon
Ut from Jay Gould. About year ago Gould
called them in and they had to give up the
stock. They we're large holdes of stock In
. the Georgia company In the same way.
RUMoRED CAUSE.
~ have been given to understand that
the trouble that brought about the dropping
of the Calbouns from the board was the
result of the purchase OF the railroads for
which the Central railroad had no use. such
as the Macon and Northern,
and the Chattanooga, Rome aud
Columbus. The &c trail had no
use for these roads. They we g simply built
to sell to it. There was a deal some W here. 1"
Have you any idea who will be named
70 I'LL the vacancies on the board at this
electionW he was asked.
None whatever. Some small stock
holders who have no special interest in
it, and who are willing to act accord .
Ing to directions from New York, None of
the old stockholders who have large inter-
ests are wanted. The proxies of the 40, 600
shares held in New York will elect the
board of course
DO you know that there might be an in.
junction against the vetiRg of that block of
10000 sharess The Georgia law is
pretty strong against a monopoly, aud this
Georgia company is nothing but a monop-
oily. They have no regard for the interests
OF the minority stockholders, who
hold 5000 shares OF stock An
injunction against them would hold"
ais there any intimation that an Injunction
will be got outP
81 can't say. If not done now it will be
done at some time hereafter"
Gen. Sorrel will arrive from New York
by rail this morning with the proxies Of the
New York stockholders.