The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-03-05
CENTRAL'SBIGS SENSATION
ATLANTA HARDLY ABLE TO BE-
LIEvE TIE STORY AT FIRST.

ATLANTA HARDLY ABLE TO BE-
LIEVE THE STORY AT FIRST.
Olcott's Report Was to Have Been De-
layed Another Week at Least-Ru-
mors in New York of Trouble in
Getting Syndicate to Underwrite
the Securities.
NEw YORK, March 4.-The Herald SAYS
the Richmond Terminal Reorganization
plan, which was to have been issued this
week, will not. it is now announced, be
ready for another week. The opinion was
Yesterday expressed that there had been a
hitch in the deliberations Of the committed,
but what its nature was could not be ascer-
tanned. The plan has been ready in proof
for some time, aud only needed the COM
mittee's indorsement to become public prop
erty. Chairman Olcott refused to discuss
the matter yesterday further than to say
that the talk about trouble over the plan
was all nonsense. On the stock exchange,
however, the price of the stock fell off sew
eral points, and the feeling was that it was
destined to go off still more.
THE GUARANTEE SYNDICATE.
New YORK, March 4, II p N.-Tbe Trib-
tne tomorrow will say: ut was asserted yes.
terday that there had been difficulty in com
pleting the guarantee syndicate which is to
underwrite the consolidation aud reoreanI-
za,ion plan Of the Richmond Terminal sys-
tenn. The names Of several prominent
banking houses were mentioned as among
those which had refused to enter the syndi-
cate. +. P. Olcott. president of the Central
Trust Company, and chairman Of the re-
organization committed. denied that there
had been any unfavorable developments re-
garding the plan. He said that the work
Of forming the guarantee syndicate had not
really been begun. and that no one had
been approached as yet on the subject. Mr..
Olcott said that the plan would not be out
before next week and he was not sure on
what day it would be published.
CAUSED EXCITEMENT IN ATLANTA.
ATLANTA, GA. March 4.-WheD IL be-
came known in Atlanta that the Central
railroad had been placed in the hands OF
receiver by Judge Speer there was at once
much excitement In railroad circles, and the
public generally manifested lively inter-
est IN the situation. No intimation of what
was coming was received until the after
noon papers made their appearance, and
they contained only the bare announcement
in half dozen lines that a recei YER had
been appointed. The news spread like dust
in gust of wind among the Terminal en-
ployes in the Kiser building.
aud when the Journal came
out in an extra giving further particulars
Of the situation, a crowd of newsboys,
gathered about the doors of the headquar-
ters, had all they could do for a while TO
supply copies of the paper containing the
special from Macon. After ali that has
been threatened about an attack on the
lease, very few people here had any idea
that cI1ch ha ID
at this time, and general surprise was ex-
pressed
COULD HARDLY BELIEVE 1T.
Many were not disposed to give credence
TO the report that the attack had not only
been made, but that the receivers had
actually been appointed by Judge Speer.
1t seemed to have been done too suddenly
and too quietly. Then the published re-
port of the proceedings appeared rather
vague and indefinite in some particulars,
and this gave strength to rumors that were
circulated to the effect that the whole thing
was a joke. Even late tonight about the
hotels, where the situation is being dis
cussed, there is disposition to discredit the
reported action of Judge Speer. Capt
jackson and Hon. Pope Barrow, attorneys
for the Terminal, absolutely refused to say
word in reference to the matter Their
offices were beseiged with newspaper re-
porters, and for a while the lawyers en-
deavored to play a game of hide-out for
fear they would be inter viewed. The only
point that could be gained in interviews
with Capt. jackson and Col. Barrow was
that telegram had been received concern
ing the appointment of the receiver, but
what the telegram contained they declined
to say. To all questions the general
counsel replied that they knew nothing
az all about the case as published
III The afternoon papers. They
would neither confirm the appointment of
zen. Alexander nor say that no such action
6ad been taken by Judge Speer. The fact
that Capt. jackson and Mr.. Barrow had
refused to talk, declaring positive ignorance
OF the reported proceedings in Macon, was
ulscredited and commented upon. The
general opinion was that they should cer-
tainly know something about it if a receiver
mad been appointed for the Central, and
their position gave rise to great deal of
speculation: Hon. Pat Calhoun, who is
FAMILIAR with the Terminal affairs. espe>
Siaily the lease of the Central, is in New
ork and efforts to get information from
mat source failed. General Manager Green
also out Of the city.
ATLANTA HAS BEEN LOOKING FOR II.
BY the Associated Press.
ATLANTA. GA. March 4-The announce
inent OF the appointment of a receiver for
- OnHot EOuu uhb proven One UlBKeSO
Slnd OF sensation for all Georgia. Not
only railroad men, but everybody else is
interested, for Central stock has been ia
Vorlte Investment with administrators, and
many estates have large interest in the
s'ock. The crisis in the Centrals affairs is
@ Cot altogether unexpected. Ever since the
Calhouns went out Of active control of the
properties some months ago, Georgia
noioers OF the stock have felt uneasy, and
many have feared that the predictions
made by Pat Calhoun in his memorable
letter published at that time would come
e. %Se. The feeling of distrust increased
.%suen, few days since, the attorneys for
;ue Richmond and Danville system began
junction proceedings against the Georgia
ttsaLroad Commission to restrain this body
from putting into effect some of its rules
seguiatlng joint rates. The railroad COM
~ nssloh is dear to Georgians, and this act
W WIin1e me part of a corporation controlled by
"au street men has stirred up much feeling
ssSulohg the people. It has been stated by
rose supposed to know that the commission
o.a as at work on an answer that would
TACK the validity Of the stock held by the
tta criminal u and at the same time the lease Of
tiO.S se SSIentrol to the Georgia Pacific on prac>
"0aly the same grounds set forth in the