The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-06-05

for said sum of upward of $500, 900 as aforesaid
6. That said Richmond aud Danville Railroad
Company under said lease and by virtue of its
assumption of the obligations thereof. is in
debted to the Central Railroad and Banking
Company of Georgia in a very large sum- to wit,
the sum Of 80, 1885, go 81, as shown by the &C
count hereto attached marked exhibit "B, "
which Is made part OF this bill and to which
the usual liberty Of reference is prayed. This
account clearly sets forth thevarious items con-
shutting this large indebtedness, including rem
tai and dividends and other guaranteed charges
on the Central's leased roads, interest on the
Central's certificates of Indebtedness and
on its bonded and other indebtedness, interest
on the bonds OF other corporations guaranteed
by the Central, the stipulated rental per centum
upon the Centrals capital stock and other
charges provided for in said lease and the &C
count also shows the various credits to which
said Richmond and Danyille company is enti-
tied, making the balance now due and owing by
said Richmond and Danville Railroad Company
to the said Central Railroad aad Banking Com
pany said sum Of 81, ass, go e. In addition to
this. the result of the operation Of the Cen
trails roads and other properties by the Rich
mond and Danville under said lease, large
number of claims have arisen and
are now unsettled for materials furnished
for damages inflicted and for other matters for
which said Richmond and Danville company
are liable under said lease, and while it is i'm
possible now to state the amount of these
claims, or for what portion the Central may be
liable to the holders thereof, there is much rea-
son TO apprehend that some of these liabilities
Will De imposed upon the CSnJral, ana tnaL
these, together with other charges. which your
orator believes a fair accounting will estab ish,
will result in considerably augmenting said in
debtedness of said Richmond and Danvle
Railroad Company to the said Central Railroad
and Banking Company,
z. That without regard to said lease and its
obligations and liabilities hereunder, said Rich
mond and Danville Railroad Company is also
indebted to the said Central Railroad and Bank
ing Company Of Georgia in further large
OR at Inns Tn 4
1892 said Richmond and Danvilie company had
the exclusive possession USE control and enjoy
ment Of all the railroad and steamship lines,
and other valuable properties Of said Central
Railroad Company, with the exception only of
its banking house and business at Savannah,
and received all the income profit and revenue
Cherefrom. According to the sworn statement
OF the Richmond and Danville's auditor that
company collected in excess of it's dis
bursements from the operation of said Central
Railroad Company for eight months, from July
to February %, 1892, inclusive, the net sum Of
Sl,7S4. l27 05. The net earnings of the Central
Railroad Company for the month Of June, 1891,
also collected by the Richmond and Danville,
was S13 054 rs, and the Richmond and Danville
also received as the ne5 earnings of the Ocean
Steamship Company, which is owned by the
Central, and TO whose earnings the Central is
entitled, the sum of S280,3l6 30. According to
the Richmond and Danville's statement that
company has paid out on account of the Cen
trail Railroad Company certain amounts
which, with other credits claimed, make
buc BUM VI C&suols ~ Ol LhuS HlhhIuSs nc
cording to that statement the sum of S445, 753 SO
as the amount received by the Richmond and
Danville company from its operation of the
Central Railroad Company over and above all
its disbursements on account of said Central
Railroad Company. To this should be added
the sum or S192. 922 so, with which tie Rich
mond and Danville is credited in said statement
of its auditorH and which represents the pay
rolls for February, 1892. but which was in fact
paid by the receivers OF the Central railroad
under the order OF this court. There should
also be added the further sum of S175, 59l ~,
being the aggregate Of the other amounts due
by the Richmond and Danville, but paid by the
Central Railroad Company as shown in the
referred %. These several amounts make the
sum Of 81, 07l, 2G7 o. There should be further
aided TO this amount such sum as will repre-
sent the diminished value Of the rolling stock
and other personal property of the Central
Railroad Company resulting from its use by
said Richmond and Danville company. which
should be quite il not more than $500, 900, which
is less than 10 per cent. of the value thereof.
When the Richmond and Danville company
took possession of the Central Railroad Com
pany as a running road, it received from the
Central in cash, good accounts and materials
about 5000 000 and when the Richmond and
Danville abandoned possession 1t left with the
Central certain supplies accounts, etc. but
what was thus left with the Central cannot be
stated or reasonably Appropriated until the in.
ventory thereof has been carefully examined
and compared. The president OF the Central
soon after his election and appointment directed
the then superintendent Of the Central TO have
this inventory prepared at once, and he also il
vited the Richmond and Danville to be repre-
sented and aid IN It's preparation. but this the