New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-04-01
EAST TENNESSEE NOT AT VARIANCE.
MESsRS. THOMAS AND BRICE ~ SYMPATHY,
WITH TIE OLCoTT COMMITrEE.

MEssRS THOMAS AND BIICE ~ SYMPATHY
WITH TIE oICoTT COMMITTEE.
some comment was caused yesterday by the pub
hshed statement that the disruption OF the Rioh-
mond Terminal reorganization plan was threatened
by East Tennessee Virginia ard Georgia interests.
The story was that General Samuel Thomas and Sen
ator Calvin s. lrtcc had arranged for the withdrawal
OF that property from the Terminal system and had
decided MOI to deposit their securities with the Central
Trust Company under the Olcoit plan. This sen
satonal story was met with vigorous denals from
all concerned In tho reorganization plan.
General Thomas Pronounced the story fnlse, and
speaking FOR both Senator Brice and himself gave
out the following statement:
We doing all we can 10 support the efforts az
the 1cott committee, and are In hearty accord with
ties. and cannot too earnestly others to do the
sms nmeda,ely Il possible The los to al eas.e,
Terminal Company by failure on their part to IN
dorsc this plan and deposit their securities. with tho
confusion depreciation and legal complications that
ought 10 arouse them to act without DELAY.
Tho olcott plan has been formulated and presented
eceT stn sed 20 soR 19a H.. view in aG , s ali ii
Il Will do irrcpar,,he damage q thc people who hold
Subscribers to tho bankers syndicate ard We have
cheerfully supported nll he changes IN tho Official
head mnst be- selected by the conmtt" 20 bring the
properties into one HARMONIOUS management We
w
httcd BY past experience for the place he Is required
81 I'll.
We much annoyed TINT VIC should have been
misrcprcSen'ed In such manner. not only own
account but such stnric. may have effect to d"lay
the deposit OF securities, and innocent holders who
ignorant Of tvs real fartS be led Ia hesitate
and doubt when they ought Ia act with prompt
IN order "a protect their own Interests
There seems 10 have BEEN some conrct % opinion
&c 70 the eject Of judge Pardne's decision IN tho
Georgia Central upon the voting power % The
majority stock $4,000 shares held by tho Richmond
Terminal Company. copy ~ tho decision shows
that Judge Pariee first criolncd The Central Trust
Company. or the Richmond Terminal Company, or
"any other railroad company competing with the
Central Railroad Of Georgia" that might. pending the
order acquire ownership Of the 5000 shares referred
10. from voting at any election or mTtinc' OF the
Georgia Central stockholders. Another paragraph ~
the order provides for election Of directors at
savannah on May @. at which votes on behalf
~ The f9.OOO shares composing tho majority stock
STALL be- received sunless upon bona ndc transfer
~ tho same. approved by the court
A. the Central Of Georgia stock held by tho
Rlchmud Terminal Company hcId In trust for
the issue Of the Terminal cent bonds The
cxact bearing ~ Judge Tarc"s decision IS Of some
Importance to tbs security holders. The New York
stock Exchange has listed the Central Trust Com
pauy's receipt, for Richmond Terminal per cent
bonds common a'd preferred stock. The course Of
Theses receipts In the mrrlct 'dlcatc the extent
Of public confidence In tho reorganization plan.