The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-07-16
A PERMANENT RECEIVER
PREsI DENT CONFER IN SOLE
CHARGE OF THE CENTRAL NOW.

FAE6I - ENT. COAlhR IN SOLE
CHARGE OF THE CENTRAL NOW.
Judge Speer Issues the Order For His
Appointment-The Extent of His
Power as Permanent Kecsiver-The
Director Receivers Discharged.
Capt Cunningham Gets the Pen
With Which the Order of Appoint
ment Was signed-The Attorneys
Awarded Part of Their Fees.
President II. NJ Conner was yesterday
appointed permanent receiver of the Cen
trai Railroad and Banking Company by
Judge Speer. This confirms Judge Speer's
action on July in appointing Mr. Conner
temporary receiver.
The United States court, which adjourned
In Macon day before yesterday, convened
at 10 O'Clock yesterday morning in Savan-
nah. There was quite an array of legal
counsel, the majority of the
attorneys of the city being
present as well as the counsel
engaged in the case. The attorneys con-
neoted with it were Cunningham & Law
ton, and Denmark, Adams q Adams,
counsel for the Central; Daniel w. Roun-
tree and Marion Erwin. counsel for the
original complainants in the litigation;
George A. Mercer 81 Son. counsel for the
Farmers Loan and Trust Company Of New
York, and Minter Wimberly of Macon
representing W. D. Nottingham, special
master in claims against the Central rail-
road. Maj. Bacon was not present.
The real work of the court With regard to
the appointment of the permanent receiver
had already been done in Macon the
a al Nhn
aud the's q history of the case
were reviewed by Capt Cunningham, and
it only remained to issue the order appoint
ing the receiver
THE JUDGES ORDER.
Judge Speer read the order, which oocu-
pies two pages of closely printed legal cap.
1t is entitled the Central Railroad and
Banking Company of Georgia VS.. the Farm
ers' Loan and Trust Company OF al. in
equity. 1t goes briefly into the history of
the case, naming the corporators concerned,
the Central railroad and its various depen-
denotes and the Farmers Loan and Trust
Company Of New York, all OF which had
signified their desire through their attorneys
that MIR. Conner be continued as
receiver. The Central Trust Com
pany OF New York made no
answer to the noti'e given 1t aud was not
represented at the hearing. 1t made no OBJ
JOSsAOh w VIC SOLSAhGahS0 Va VIC A6SclfoI@
ship.
The resolution Of the board of directors
OF the Central railroad approving and rati-
flying the bill aud requesting the continu-
anoe OF Mr.. Conner as receiver was mem
toned and also that other large hold
ers OF securities and obligations of the Gen.
trail had signiied to the court their desire
for his appointment.
1t is stated that the bill is in the nature
OF dependent bill growing out of the liti-
CATION in the case of Mrs. Rowena NJ Clarke
as commended for by Maj. Bacon.
THE RECEIVERS POWERS.
In defining the powers Of the permanent
receiver. the order reads:
And he is hereby authorized and directed as
such receiver to take possession, charge and
control OF said corporations and their proper
ties and assets of every kind, and to operate
the same, and to take possession, charge and
control Of all the railroad and steamship lines
and railroads and steamships. owned, leased or
otherwise controlled aud operated by said Cen
trail Railroad and Banking Company Of CIeor-
gia, and to manage and operate the same, aud
TO take possession, charge and control of all the
properties, real, personal and mixed, and all the
effects and assets OF said Central railroad and
Banking Company Of Georgia Of every kind and
character, and to manage and operate the same
under the order and direction of this court
having and exercising all the rights and fran
chises belonging or appertaining to said corpo-
rations.
TO LOOK AFTER THE FINANCES
The said receiver is hereby authorized to COL
lect all accounts, demands and claims Of every
kind now due or hereafter accruing to said
company, whether the same arise ex contractu
or ex delicto, and to BRING suit therefore when
necessary, and he is further authorized to in-
stitute and defend legal proceedings whenever
necessary for the enforcement or protection of
the rights OF said company in this or i'll other
Jurisdictions.
To the end that the integrity of the Central
railroad syRtem ha nj
is hereby authorized, after defraying all oper-
atinR expenses, to pay out of the net earnings
the rentals and other fixed charges accruing to
other companies, or resulting from the use and
operation of their lines and properties as a part
of SAID system. He is authorized so employ
counsel and to pay reasonable compensation
for such service.
OTHER CORPORATIONS CAN'T INTERFERE
And oil other and further powers that are
usually exercised by receivers Of similar corpo-
rations are hereby delegated to said H. M
Conner as receiver aforesaid; and the CORPORA
tons named herein and in the bill of complaint
their officers, servants and agents and all other
persons whomsoeveT. are hereby restrained and
enloined pendente lite from in any wise inter-
terlng with his possession, use, control or opera
tlon and management OF said propertieS herein
mentioned. and from in any wise obstructing
his exercise OF any OF the rights, duties and
powers herein and hereby conferred upon him.
1t Is further ordered, that all of the receivers
appointed under the bill filed in this court by
Mrs. Rowena M Clarke ct al. versus the Central
RAILROAD and Banking Company of Georgia ct al,
herelnbetore men toned, other than the said
II. M. Conner shall be, and the same are hereby
discharged as such receivers. The said H NJ
Conner Is authorized to enter upon his duties as
permanent receiver upon the giving of O bond
with sufficient sureties payable to the cerk of
this court for the benefit OF whom it may con-
Germ, conditioned to obey such orders as the
court may from time to time make, and for the
faithful discharge OF the duties of his trust said
bond TO be in the sum of 100000, to be APP
proved by the court.
TO ASSUME LIABILITIES.
IL Is the intent of the order that all liabilities
and expenses incurred under the receiverships
herenbefore referred to under the bill of Mrs
Clarke ct al, and under this bill. shall be as
stunned and paid by the said H. NJ. Conner It
is further ordered, that said receiver shall take
possession OF said property subject to any
claims for compensation which may hereafter
he lacreal be lLIa To the