The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-03-05
Mr.. RoUNTRsE TALKS.

1 ~1N~0~N@~@
ating two Of the greatest sensations in rail-
road circles in Savannah since the lease of
the Central to the Georgia Pacific, and the
subsequent wholesale discharge Of promi-
nent officials. is young attorney. He was
| solicitor general of the Southern circuit of
the superior court for six years. He re-
signed two years before the expiration of
his last term, and removed to Atlanta two
years ago. MIR. Rountree was
seen at the De Soto last night
and talked about the case upon which he is
engaged.
The fling Of the bill, he said, will be the
| best thing for the stockholders There is
| 10 reason for them 20 be panic-strioken or
to think less Of their stock. for the reason
that the main purpose Of the bill is for the
court, through its receiver, to hold the
property and preserve it from any unwar~
ranted acts of the board of directors
elected by the holders of the 10000
shares Of stock, which were illegally trans
ferred and Illegally voted, until the next
annual meeting of the stockholders legally
qualified to vote, when the present
minority stockholders will elect a board
of directors In sympathy with them and
having the best interests in view. Then
the Central will turn over the entire assets
and property to this board Of directors for
It's future control and homogeneous.
WHO MRS. CLARKE is.
"Who Is Mrs. Clarke, in whose name the
| bill is filedr Mr. Rountree was asked.
"Mrs. Clarke he replied, sis a wealthy
woman Of Charleston, s. c., who has large
holdings in Georgia securities, notably
bonds Of the Marietta and North Georgia
railroad, and securities Of the Central Rail-
road and Banking Company"
"What amount Of stock does she own2"
"She has fifty shares of Central railroad
stock. Her affairs are managed by Mr.. J.
Lambert Perry, a prominent member of
che Charleston bar
at has been intimated that the parties
bringing the suit might be in collision with
the Richmond Terminal people,"
us there any scheme i'll" MIR. Rountree
was asked.
"The suit replied Mr.. Rountree, sis the
result OF Investigations made by my asso-
ciate, MIR. Perry, and is not inspired by any
other person or corporation whatever, and
| is instituted for the sole purpose OF protect
ing his clients property, that is her
shares in the Central Railroad and Bank
ing Company, which we're bought as an
investment and not for speculative pur-
poses"
EFFECT ON THE oLCoTT COMMITTEE.
In speaking OF the effect Of the suit Mr..
Rountree said: "This will knock the Olcott
| say ~ WALL ACthONO OAo Vi
the principal securities upon which they
were basing their calculations"
Mr.. Rouutree is satisfied that his suit
| will have the supported the majority OF the
minority stockholders as soon as its purport
is understood.
| II have been approached" he said, "by
numbers of the minority stockholders ask
ing for copy of the bill. who desire TO
enter into and become associated in the suit
| | am in correspondence with a number OF
| the stockholders to-day. / have no doubt
that by the time hearing Is had l will have
half dozen Of the leading lawyers Of the
| state associated with me in the case en-
ployed by other minority stockholders"
"You seem to assume that a permanent
receiver will certainly be appointed by
| Judge SpeerN
II have no doubt that he will sustain the
bill and will appoint a permanent receiver
at the hearing who will hold over until the
next annual election, which occurs in Janu-
airy of next year, when the road will be
turned over to the board OF directors,
elected by the minority stockholders"
GOSSIP ABOUT RECEIVERS.
"Will Gen. Alexander be made permanent
receiver, do you think p
1T is not impossible. Gen. Alexander was
appointed temporary receiver that the BUSH
ness might remain ia statu quo and because
gentlemen have been recommended by
tleir friends for the position of permanent
receiver among them Gen. Alexander, Col.
w. W. Gordon, Cecil Gabbett, ex-geueral
manager of the road; Capt. w. G.. Raoul,
and others. The selection OF a receiver will
be entirely with the judge.
Mr.. Rountree, 1t seems, was not alone in
| his resolution to attempt to break the lease
OF the Central to the Georgia Pacific.
| 81 know of MANY aa a dozan la
be said, sin different parts of the state who
have investigated this question and have
been preparing bills similar 30 the one which
| have fled, and having the same purposes.
Two of these are Savannah lawyers, one of
them being one of the most able
and distinguished lawyers in Georgia.
| He had his bill virtually completed and it
would doubtless have been filed within the
next few days. Gen. Alexander said that
an appeal had been made by one of the
stockholders in Savannah to him as presi-
dent OF the company to file a bill which
must have been for the purpose of laying
the foundations of suit similar to this
one.n
Mr.. Rountree declined to give the name of
the distinguished gentleman who was en-
gaged upon bill of similar character.
PURPOSE OF THE SUIT.
81 want it distinctly understood" he
said, in conclusion, shat IL is not my pur-
pose, nor the desire of my client nor OF my
associate counsel, to wreck the railroad, or.
speaking in common patence. to force 1t
through bankruptcy, but merely to protect
it from impending danger, and especially
from the complications that might grow
out Of the action of the Olcott committee,
provided by silence and acquiescence the
stockholders should be construed to ratify
and approve the action and be thereby
estopped in the future
Mr.. Rountree will remain in the city to
day. He has been engaged for six weeks
in preparing the bill for a receiver and it il
certainly q fine piece of legal work. 1t is a
very volumious document and every point
bearing upon the case appears TO be COW
cred.
The bill was fled with the clerk OF the
United States court In Savannah. yesterday.
Subpenas will be served together with
COMES of the bill upon ell the defendants
in the case to-day. The hearing of the bill
by judge Speer in Macon was secret and
nothing was know of it either ias Macon OF
Savannah until notice was served upon
Gen. Alexander and the directors of the
Central railroad in Savannah yesterday.
/ A