New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-05-27
RAILROAD INTERESTS.
p1ct,MOND TERMINAL LOOKING Up.
pRExFI. MORGAN & CO. WILL GIVE THIEF
ANSWER TODAY.

pRExEL, MORGAN CO. WILL GIVE THEIR
ANSWER TODAY.
All the securities of the Richmond Terminal Com
pany were buoyant at the Stock Exchange sestefuhy'
on the announcement that Drexcl. Morgan ID
would be requested 10 re0rsnize the company W.
E. strong chairman OF the committee oil three'
added Thomas l.. Manson and q. Foster Peabody y"
its membership. a popular Misrepresentation has 'A-
listed respecting this committee In no sense was II
a reorganization committee and it never claimed the
authority Of The committee lived SIMPLY IOh
peotinr 10 meeting OF the security holders, and Its
purpose was 10 receive suggestions from inc large
interests In the properties and prepare them TOT SUD
mission 10 the security holders. General Nlmuo
Thomas was warmly commended yesterday 10y some
NJ the members OF the committee OF fifteen for It's
services In the last few days and he Offered Tie
resolution al Wednesdays meeting Of security
hooking TO interesting Drc1e Morgan d Go. Ill the
Terminals rehabilitation.
Chairman strong Of the enlarged committee OF
five yesterday morning called at the office OF Dr"Nci
Morgan d Co., and submitted the resolution which
was adopted OF Wednesday, meeting Of the committee
NJ Fifteen He wa, Informed that it not neces-
sorv to have the committee call formally, and Mr..
6trong then procured the signatures OF the remainder
az the Committee to the resolution An answer VIII
no given 10 the committee by Drexcl Morgan d 90.
to-day.
%.
roorr,u,zation. Their action would receive the sup
NOR. N the First National interests, the Thomas party,
the Georgia Central ani-Tcrminal party and the
security holders generally. Nothing definite IS likely
IN he done pending the arrival Of j. l1erpont Morgan
u.ho Is now on the way from Europe on the steamer
Teu,onlc IL Is expected, however. that "a" hrm mas
NOT been idle In respect Of study OF the Terminal
system and us possibility Of rehabilitation, ~ That II
~ not believed What extreme delay VIII 1910"
decision 10 prepare a plan for SUBMISSION 10 security
holders and creditors.
The petition which has been presented 10 DreAp'
Morgan d. co.. Independently OF the action OF the COM
,,,.a n, five h, as follOws: Dear Srs: In view
., tho f,ct that from various causes not necessary
a., he specifically enumerated here, the affairs OF the
p,cbmond and West Point Terminal Railway ana
w.rehouSe Company have become seriously emD'r-
as.d and the vast Interests which II represents
u threatened with the danger Of reccveIShip ana
ue,nteg,ation and believing. as We do, That lH'i
- bc devised which would the property from
,s.-un,,on and loss, consequent upon ncehI>s husi
u ~ ,c hereby Join IN requesting You 10 take up inc
na..rr,nizatlOn which, In yOhr judgment, Woliid ~.
It, and equitable to all Interests invOlNen. ~,
Iant ontng this communication 10 you, we r's "
~. thof we have selected you 10 act III tIiS nlautI
sua" we feel that the necessities OF the Si'huon
r that plllic confidence be at once re-cstDh nen,
thot your freedom from any bias arising IRON,
anu connection with the company's antis WIZ WIZ
~ Won 10 proceed with impariality, ana III ue
interest of all classc, OF secur1tc'.