The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-05-29

| Of its entire disbursements and payments; that
said sum will probably approximate, if il does
not reach, S2,OOo,Ooo that said Richmond and
Danylle Railroad Company Is otherwise largely
| indebted TO said Central Railroad Company,
| and upon a fair accounting petitioner believes
that the amount Of said indebtedness in favor
| OF said Central Railroad Company against said
Richmond and Danville Railroad Company will
approximate, If it does not reach the sum
Judge Speer has ordered hearing of the
petition on June 8.
MR.. CONFER TALKS.
MIR. Conner was seen yesterday in regard
to the statements made in the bill. He said
the statements made in the bill are correct.
Instead of the Centrsls being indebted to
the Danville for nearly $1,000, 900,
the Danville Is indebted to
the Central for over $4,000, 900.
Mr.. Conner was not able to give the items
Of the indebtedness in detail Probably he
did not consider it advantageous to do so at
the present status of the case. The state
ment has been made in the bill and averred
to by Mr.. Conner and he is not likely to
have done this without substantial evi.
dence to back the statement
Mr.. Corners explanation Of the
claim is that the Richmond and
Danville, on assuming charge Of the
things. to assume certain liabilities and to
meet certain charges. This, he says, they
did not do. Instead of paying the Central's
debts they made the Central
borrow money and pay its own debts. For
this purpose the Central was
compelled, after its lease, to
borrow $3,700,000 OF Speyer g. Co. and
100000 of the New York Mutual Life to
pay its floating Indebtedness.
NOT YET EXPLAINED.
Just what this floating Indebtedness con-
kaA 81 or,l. b,rx - ~.
600 thus obtained was expended, has not
yet been ascertained. That large part of
it was used to discharge liabilities for which
the Richmond and Danvilla was responsible
under the lease ia assumed.
Taking another view of the situation
President Conner said that according to the
sworn statement Of the auditor of the Rich
mond and Danville that company's receipts
while in operation of the Central railroad
exceeded its expenditures by over s4OO. 900,
and in this statement they are credited with
the SS40, 900 they have charged to the Cen
trail, and no allowance is made for any diff
ference that may exist in the condition
of the road when it was turned over to
the Danville. and when they returned it to
the Central, or in the value of the property
returned as compared with that turned over
An examination of the inventories OF Gen.
trail railroad property made when the
road was turned over to the Rich.
mond and Danville and when 1t
was placed in the hands Of the receivers By
the court has not yet Teen completed but
it is safe to say that an estimate of the
difference in conditions and amounts then
and now will amount to several hundred
thousand dollars.
1t is reported from Atlanta that sx-Gov.
Mcdaniel has rendered mis- resignation as
director of the Central railroad. He was
one OF the new directors elected at the re-
cent election. His reasons for resiguing
are that he Is unable to spare the time from
his business to give attention to the affairs
OF the company, aud that be would be una
BILE to attend the frequent meetings OF the
directors.