The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-03-06
MRS. CLARKE'S BIG SUIT.
THE EFFECT ON THE ORGANIzA-
TON UNCERTAIN.

Innnan Processes Ignorance on the
Point-President Alexander and the
Lawyers of the Central In Consulta-
ton With Judge Speer at Macon.
The Instructions OF the Court.
New York, March 5.-The news that
temporary receiver had been appointed for
the Georgia Central, caused Terminal securi-
ties to break badly upon change. 1t is not
known whether this will have any serious
effect upon the proposed Reorganization of
the Richmond Terminal John 81. Inman
professed ignorance on that point.
GEN. ALEXANDER AT MACON.
MACON, Ga, March 5.--Judge Emory
Speer Of the United States court furnishes
10 the newspapers the following account of
what took place In his office this morning
between himself and Receiver Alexander Of
the Central Railroad and Banking Com
pany. This morning Gen. E. p. Alexander,
the receiver OF the Central, A. r. Lawton
Of the firm Of Lawton & Cunningham of
Savannah, and ex-senator Pope Barrow of
the firm of jackson & Barrow of Atlanta
called on Judge Speer at his chambers and
submitted certain views with reference to
the receivership of the Central properties
"
Gen. Alexander began by saying very
emphatically that he desired to say that he
was very glad the issue had been made, and
that the properties OF the company had
been very much jeopardized by the grave
uncertainty which had pervaded the public
mind with reference to the lease. This un-
certainty was of a threefold character:
First. were the lessees willing to carry out
the terms OF their lease; second, did the
hav "A oil ahiiffxy 70 >
cut, and pay the large amount they had
agreed to pay the Central stockholders, and.
third. was the lease itself legal OF so invalid
that 1t could not be carried out.
BETTER TINES AHEAD.
He felt, however, that when these uncer-
tainties were removed the values OF all the
Central properties would be largely In
creased. Believing at the inception Of the
lease that there was no doubt it could be
successfully carried out, he had felt that it
was the best thing for the property when it
was entered into. Subsequent Develop
ments had created the uncertainties, which
he trusted might now be determined by the
litigation. He stated further that the in
terests of the Central stockholders were as
the 'apple of his eye"
Judge Speer remarked to him that he
gathered from what he had said that the
purport of his observations were to the effect
that he had no inclination against the pur-
poses Of the bill which would make him an
improper person to act as receiuer.
Gen. Alexander said that was true, and
that his great interest in the matter was to
preserve the rights of the stockholders which
had been intrusted to him as president.
Ex-senator Barrow then interposed and
stated that he desired a modification OF the
order appointing a receiver. He desired il
to be SO modified that the lessees should obs
tain possession of the 800 miles Of road,
but that Gen. Alexander should be con-
strued to be In possession only OF the Sc
curities Of the Central Railroad and Bank
ing Company of Georgia.
AS DEcLINATIoN TO COMPLY.
Judge Speer stated that he could not
make so radical a change in the status of
the litigation merely upon Col. Barrow's
conversational snd ex pa-te showing; that
If the modification Of the order was insisted
on, it must be presented formally by q pe-
tition in writing, and with notice to the op-
posing counsel. Capt. Barrow then stated
In substance that he would give it that di-
rectlon.
Gen. Alexander then proceeded to state
certain points upon which he desired the in
structions of the court. when the Judge in
terrupted and requested him to put his re :
quest for instructions in writing Upou his
doing so Judge Speer Iendered the following
decision:
1t is, upon consideration by the court, ordered
that the temporary receiver be and is hereby
authorized to make the necessary provisions, as
Indicated in said request, to meet such liabilities
aforesaid as may accrue, using therefor, how
ever, such of said securities only as may be
necessary for that purpose. 1t is, upon consid-
GRAFTON, ordered that the temporary receiver is
authorized to make the treasurer and such other
accounting officers of the lessee company as he
may find necessary so to make the officers also
OF him the temporary receiver, and he is further
10 continue to receive the daily earnings of
the Central Railroad and Banking Company
and to pay out from the same the current ex-
Denses of operations, including the expenses
which have been incurred or which are due in
Guiding the pay rolls for the month of Febru-
ary. keeping the accounts so that an account
may he rendered said receiver. 1t is upon con =
slderation, ordered 10y the court that the tenn
porary receiver is hereby authorized to retain
competent counsel to advise him as to the du-
Ties of his trust and to make such contracts for
compensation of said counsel as are usual and
reasonable for such services.
EMORY SPEER Judge
Gen. Alexander, Supt. McBee, Mr.. Bar
row and Mr.. Lawton, leave this evening
for Savannah.
zen. Alexander said to-day that he had
issued orders for the payment of all salaries
now due. and that all the officials will re-
main in charge as usual until March IA,
When the hearing for permanent receiver
Will take place.