The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-05-29
THE FIaaT FOR THE STOCK.

The central's Claim for the Steamship
Paper Now in Escrow.
President H. NJ. Conner. Capt. II. c.
Cunningham and Hon. A. Pratt Adams
returned yesterday morning from Macon,
where they filed the petition announced In
the MORNING News in the United
States court, asking that the
New England and Savannah Steam
snip Company stock be taken
from escrow aud returned to the hands of
the Central directors. They were also
present at the filing of the motion in behalf
of the Georgia company and the Terminal
company by Capt. Henry jackson to re-
verse the former decision of the court de-
clare the recent election for direc tors illegal
and reinstate the majority stock IN power.
The interesting portion of the petition
flled by Mr.. Conner is contained in the fol-
lowing paragraph, which isin effecta strong
statement Of the Central's position with re-
gard to the indebtedness clsimsd to exist
between 1t and the Central.
DETERRENT VIEW OF 1T.
1t puts the shoe on the other foot entirely,
so far as the Danville company is concerned:
Wherefore your petitioner now shows to the
court the Richmond and Danvle company has
not the slightest claim or shadow OF right to
said stock, aud that the receivers of this court
are alone entitled to the same, and that they
need the immediate possession and use thereof
for the proper conduct Of the trust committed
to them. As heretofore shown this stock is the
property Of the Ocean Steamship Company and
was deposited with the Central Trust Company
by the Central Railroad Company directors to
abide an arbitration under the lease Of the liza
bility OF the latter company TO the Danviile com
pany for claim of s., which represented.
as the Danvie company allege, the amount
OF outstanding bills for current and operating
expenses Of the Central railroad due at the time
the DanVllle company took possession under the
lease, and paid by the company. There has
never been the slightest foundation for this
claim. The sixteenth article OF the lease ex-
pressly provides that the lessee is to take pO-
session of the Central railroad as running
road, and receive all cash on hand and credits
and balances due to it, and assume and pay all
outstanding bills for current and operating
expenses due by it. In epoint of fact. the
Danville company, when it assumed posses
sion under the lease. received from said Central
Railroad Company in cash and materials an
amount quite equal to said claim of S..
This claim was first made by said Danville COM
pany Just before the Central and Southwestern
| dividends, which were to be paid as part of
| the rental OF the property. were due. Directors
| of the Danville company, TO whom, as members
/ or their executive committee, the matter was
| referred, have admitted, as petitioner is in
| not be maintained and that the receivers
| are entitled 70 said stock. InaSmuch,
| therefore, as the claim on account Of which
| only was this stock deposited or impounded is
| palpably unfounded, unjust and unconsciona-
| bic your petitioner respectfully submits 10 the
| court that the receivers are now entitled to the
possession of said stock without regard TO any
| question OF accounting between the Central
| railroad and the Richmond and Danvle COM
/ panies, and with reference 70 the matter of
accounting your petitioner charges that said
| Richmond and Danville Railroad Company is
| indebted TO the said Central Railroad Company
| in very large amount, that it has received in
actual money as the result of its operation of
l said Central railroad very large sum in excess