The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-05-17
THE CENTRAL'S BOARD.
AN UNSUCCESSFUL EFFORT TO
VOTE TIE TERMINAL STOCK.

AN UNSUCCESSFUL EFFORT TO
VOTE TIE TERMINAL STOCK.
The Ticket Made Up By the Banks
Committee Elected. With the Ex-
ception Of Hon. Charles S. Fair
child-Director swann's Resignation
Not Received and BE is Retained
ION the New Board-Talk ofan Appeal
by the Terminal People The New
Road to Organize To-day.
The board of directors of the Central rail-
road nominated by the committee of bank
presidents Of Savannah for the minority
stockholders was, with one exception,
elected almost unanimously yesterday. The
| board Is as follows: Jsr L
II, M. Conner. Henry D. Mcdaniel,
j. x. Garnett, C.'H. Phinizy,
Abraham Vetsburg, s: r. Jaques,
| Joseph Hull, K. r. Howell,
| G. J. Mills, U. B. Harold,
II. K. jackson, James Swami,
| W. G. Raoul
The only change made from the ticket
nominated by the committee is the leaving
| off OF the name of Hon. Charles s. Fair
child of New York who was to have sue
ceeded Mr.. Swami. Mr.. Swann's resigna-
l
| and il was not considered proper
| to leave his name off the board without
hearing from him. Mr.. Swann's resignation
is expected soon by President Conner, and
when 1t is received Mr.. Fairchild will be
elected to ill the vacancy.
The election was managed by the follow
| ing judges; George j, Mills, Gen. Henry 4.
Jackson, A. Vetsburg and J. K. Garnett
for the stockholders, aud Col J. H. NJ.
| Clinch and Horace A. Crane for outsiders.
| Capt. John M. Guerard was to have been
| one Of the judges, but was unable to attend
on account Of sickness. The clerks Of the
| election were: Cashier T. NJ. Cunningham
of the Central Railroad Bank, Controller
Edward Mcintyre and A. r. Lawton, Jr. !,
Esq.
| HOW THE STOCK WAS VOTED.
The polls opened at 10 o'clock and closed
at 2 o'clock, at which time it was an
nounced that 26, 342 shares had been voted.
This is the largest vote of the minority
| stock In years, the vote last year having
been about IL, 600 shares. There are 80, 800
shares outside of the block of AZ, 200 held
by the Central Trust Company there being
| $1,000 shares in all. This leaves 6, ass shares
that were not voted.
The election progressed very quietly. The
largest block Of stock voted was by
President Conner, who held the
proxies for something over 10000
shares, Mr.. George ]. Mills voted
the next largest block of 1898 shares. The
Southern Bank voted ,134 and Col. G. H.
Phinizy of Augusta 768. Col. w. w. Cor
don voted the proxies on 118 shares. He
voted the straight ticket. There was very
little scratching of tickets. A few parties
| outside of the directors received scattering
votes, the largest number received by any
one OF these being fifty.
| THE 1900 SHARES OFFERED.
AS was expected an offer of the $4,000
shares held by the Central Trust Company
was made and refused. The offer was
made by a. II. Joline, Esq.
counsel for the Central Trust Company.
Besides Mr.. Joline there were present
Edward Lauterbach, Esq, of New York
| general counsel for the Richmond Terminal ;
Capt. Harry jackson of Atlanta, division
counsel Of the Richmond and Danville and
| Terminal companies; Judge Henry B.
| Tompkins of Atlanta, southern counsel for
the Central Trust Company of New York
Marion Erwin, Esq, counsel for complain
ants in the case of Rowena NJ. Clarke, VS..
the Central Railroad and Banking Com
pany. and Capt. h. G. Cunningham and A.
K. Lawton, Jr, ESQ.,, general counsel Of the
Central railroad and counsel for the re-
| ceivers.
A few minutes before II o'clock, after the
voting had been In progress for nearly an
| hour, the lawyers walked into the room
where the judges were sitting. Mr.. Joline
! took his position in front of the judges and
said;
| Mr. JOLINE'S TENDER.
| GENTLEMEN-The Central Trust Company of
| New York is the owner and holder of record of
10000 shares OF the capital stock of the Central
| Railroad and Banking Company Of Georgia,
which stands in its name as Central Trust Com
pany OF New York, trustee. 1t is also the owner
aud holder of record of 1870 shares Of that
| capital stock, also standing in the name of the
| Central Trust Company Of New York, trustee
| hold three instruments-two relating to the
10000 shares and one relating to the 200 shares,
| designating me to cast the vote on those shares,
and now tender these instruments for your
inspection and offer the vote Of the Central
| Trust COMPANY on the 1920 shares referred to
| therein, II you desire personal Identification /
refer you to MIR. Cunningham or MIR. Lawton.
"Do you want to tender a vote GA those
sharesp' said Mr.. Lawton.
YES, SIR said Mr.. Joline, II tender a
vote on the 10000 shares, and l tender a
separate vote on the 1900 shares"
Mr.. Lawton said the company was en-
Joined by order Of the court from receiving
the votes of the 1900 shares or the 9, 200
shares, and the advice of their counsel to the
judges was that they would be unable to
receive them.
THE VOTES REFUSED.
1--WE will have to abide by the decision OF
the court and cannot allow that VOTE said
| SOls ClluCu.
Therefore you decline to receive the
voter asked Mr.. Joline.
I'VE decline to receive it, sir" replied
Col. Clinch.
| The lawyers then withdrew and the vot-
ing of the minority stockholders went on.
The tender of the stock was very quietly
| done and there was no excitement.
Mr.. Joline stated to Central director
| that if he had been allowed to vote the
$4,000 shares they would have been cast
substantially for the board elected yester~
E. day with the substitution Of the names of
several gentlemen as directors. Mr.. Joline
| declined TO say who.
1t is understood that an application will
| be made for a rehearingtof the case before
! Judge Speer. and in case of a refusal to
| open the case again. ittwill be appealed to
thenew court of appeals at New Orleans.
| )o1t will be noticed that in the now board
! OF directors changes oAre made only where
! there were vacancies. Messrs. Conner, Nc
Daniel, Jaques and Raoul succsed Gen. Alex
ander and Messrs. Inman. Sorrel and Maben.
This may make an interesting point in case
there is an objection raised against the
| board in future litigation. All the directors
who we're elected by the Richmond Termi-
nal stock, who qualified as directors and
have not resigned, were reelected.
The newly elected board of directors will
meet at the bank at 10 o'clock this morning
I