The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-05-29
DIVIDEND DAY AT HAND.
BUT THERE WILL BE NONE FOR
CENTRAL STOCKHOLDERS.

Next Month the Southwestern and sa.
vannah and Augusta stockholders
Recsivs Over 21o,ooo-Comparius
the Invsntories-What is Thought of
the Latest Petition to the United
States Court.
In former days, which many are anx-
iously hoping may soon return, IL was the
custom on the first Tuesday In June for the
directors OF the Central Railroad and Bank
ing Company to meet for an hour or two,
and, when they had shaken hands and re-
| tired, for the president of the road to an
nounce to the reporters and the world that
asemi-annual dividend of per cent. had
been declared
The lease Of the road to the Terminal
people, and the unpleasant events that en-
sued have made sad break in the observ-
ance of this pleasing custom. II the old
state OF affairs had continued next Tuesday
would have probably seen the same pro-
| gramme gone through. AS 1t is, stock
holders will not be cheered by the usual
announcement, and the coming Of the day
will merely accentuate the financial loss
that has fallen upon them.
| u 0AAO WILL uOkt uOn ever D6 WlIuOub JuS
| payment of any dividend A fixed charge
has to be met on that day. 1t ia the guar
anteed semi-annual dividend Of the Au-
gusta and Savannah railroad, amounting to
something over 1885, 900. 1t will be promptly
paid. The money is on hand, and will be
disbursed as RAPIDLY as the fortunate stock
holders demand It,
| Juno 20. there is another aud much larger
| dividend to pay. 1t is that of the South
! western. The total amount is SITS, 900. If
the Central has not got all of this large
| amount on hand at this time 1t will have 1t
then. The Southwestern stockholders need
not worry. The Central will have no
trouble In securing any money 1t may re-
quire to meet their claim.
| COMPARING THE INVENTORIES.
| The work OF comparing the inventory
secured from Mr.. MoBee, through General
Manager Green via the United States court,
with the one made of the Centrars property
when IL was turned over to the Richmond
and Danville, is going on. 1t is a slow
work and it is being done with the utm ost
care 80 that there may not be the slightest
doubt as to the accuracy of the final
result. What the report will be it is im-
| possible to tell. No one will be surprised II
grave discrepancies are found, and many
| will be surprised IL the reverse is the case
The officials decline to state what the result
i "a bAAC OobihdbAOl 10 W uApS. nldu( kOI
the idea from the evident Discrimination Of
the Richmond and Danville people to sur
render the second inventory that the show
ing was not at oil cre6itable to them. It
will be some days before 1t will be ascer-
tatned whether this surmise Is well-founded
or not. The men at work
are the most expert In the
| south and the equals of the
best In the country. Some of the directors,
| judging from what they already know of
| Terminal methods, expect to find that the
Central has been, to use the expression of
one opposed to harsh terms, "bereft" of con.
siderable property. If SO, demand will be
made at once on the Richmond and Dam
vile for Its restoration or the payment of
its equivalent value in cash. This failing,
recourse must be had to the courts, where
everything seems eventually destined to go
for final arbitration.
MERELY TO EMBARRAss.
| The latest move of the Richmond and
West Point Terminal Company is regarded
as merely an effort to embarrass the present
management and injure public confidence
now being so rapidly restored in the Gem
trail. All of the points at issue, it is
claimed. were passed upon by the court in
its decision when the Richmond and Dam
vile went through the same form In vain
| endeavor TO control the election by voting
the majority stock. The directors have not
the slightest fear that the court will reverse
Its former decision. The plan is too trans
parent, they say. There's the same
"nigger in the woodpile," no matter
| in whose name such petition
is presented, and Judge Speer is
too astute not TO sec through IL all. This
move is direct violation OF promises given
some time ago that nothing would be done
to embarrass the road. Many are inclined
| to look upon it as merely part of a scheme
to get the Central In some way back into a
Terminal reorganization scheme. The in
troducUion Of the Central system would
help nightly TO bolster a reorganization
project up and this is we'll known by the
Terminal people. There is every reason to
believe, though, according to the CentraI's
directors, that the present status Of affairs
uary.