The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-01-03
BOTH CALHOUNS AREOUT
NEW MEN TO TAKE THEIR PLACES
IN TIE DIRECTORY.

Patrick Calhoun Addresses a Letter
70 the People of Georgia IN Which
he Charges the Richmond and DAN
vile With Trying to Wreck the
Central.
NEW YORK, Jan 2.-The dissension which
have been brewing in the Terminal man
arement for some time, owing to the differ
ent views of policy and antagonistic inter
es,s. eliminated to-day on two distinct is
sues. namely: Pat Calhoun's imperative
resignation as general counsel of the Ter
mnal system, and the retirement Of both
himself and his brother, John c. Calhoun,
from the Georgia Central directory. Patrick
Calhoun has addressed an open letter TO the
peopeot Georgia. which explains his posi-
ton fully the following is the letter:
The situation in which the railroads In Geor-
gia are now placed, the prominence, the Terminal
system has acquired throughout the south, the
active part have taken in creating and defend
ing it, the vast public interest involved
and the gratitude feel for those who have so
cheerfuly and so powerfully assisted me in
ny efforts during the past three years, to pro-
tect the roads and our people from unwise and
injurious legislation combine to render it i'm.
peratve that should stats briefly the CONTROL
ing reasons which have led me to sever my
official relation with the Terminal company.
The counsel of a company occupyingine Cessarlly
position OF confidence should
be in accord with those who control It,
am not in accord with majority of the pres
ent board Of the Terminal company. These
gentlemen have broken faith with the very
a all !
their pledge to cooperate with committee
appointed by the stockholders, through the use
Of whose names the directors secured proxies
for their own temporary election Having thus
secured control they demanded without warrant
in law or in annals that before they would per-
nit the Richmond and Danvie Railrond Com
pany to pay the obligations of the
lHntral Railroad Company maturing
Jan. and amounting to over 5000 900,
the Cent? railroad should deliver into the
actual posses4,on Of the Danvills securities
worth more than ., 100000 of money. This the
directors OF the Centre' road properly declined
to do. The executive COL -uittee OF the Dan-
vile on Wednesday last passel a resolution pos
itivey declining to pay the matur. z obligations
Of the Central unless the securities v re turned
over to that company. During We 7esday
afternoon and early Thursday morning my
brother Capt. John c. Calhoun and arrane, /
for the money to pay the maturing obli-
cations Of the Central. On Thurs
day Mr.. Inman, president of the Terminal and
Danvle companies left his sick room and
went downtown to prevent the disgraceful de-
fault determined upon by the Danvile com
pany. AS the money was ready to protect the
Cenirals credit, tee parties in control receded
from their demands, but to-day it was openly
announced in the Terminal board that change
ID the directors Of the Central road should be
made, because the present board had declined
to deliver over its securities, and that the Ter
mlnal company would elect board on which it
could rely to carry out its demands
blE dispute arose between
the Danvile and the Central
roadH IN regard to an alleged claim made by
the panvllle for some 100000 and it was pro
posed to put on the Central board officials of
the Danville company, who it was presumed
could be controlled through their employment
by that company. Ihave now TO believe that
ny opposition prevented the carrying out of
tnis outrageous programme. l believe the
attacks npon the credit of the Terminal COM
pany and especially upon the credit of the Cen
uaI Railroad Company during the last few
months, the hostile legislation attempted last
summer in Georgia and the recent
EFFORT to wreck the Central railroad
by defaulting upon its securities, were inspired
oy the same motives and emanated from the
element now in control OF the Terminal cou-
pany' However, strongly urge my friends
and earnestly appeal to the conservative citi.
2ens OF the state not to allow the radical and
unWarranted action Of those now in control of
'ne terminal company to prejudice them
against the railroad interests Of the state. The
integrity OF the Terminal system should be
preserved. careful study of many years con-
Nnces me that nothing could be so unfortunate
lor the southern and especially for the South
atlantic reaports as the capitalization against
'1eTn OF the great transportation lines of the
country. p.rC.rr,o-,>,
What will be the result of this rsdical
enange In the Terminal management re-.
mains to be seen, but the Calhouns are not
'ae men to be daunted by defeat.
M. j. V.
TERMINAL, DTRFCTCpc NTrpr