The morning news., 1892-03-10
TO BE AT THE HEARING.
sAVANNAH'S MINORITY STOCK
HOLDERS ACT.

HOLDERS ACIs
A Increment TO Unite the Minority
Stockholders of Georgia in opposi-
ton to the appointment of Perma-
nent Recsiver-Mr. Rountree ct
Work on Bis Csse, Assisted BIZ Mr..
Perry OF Charleston.
The minority stockholders Of the Central
railroad residing in Savannah haze decided
TO take action to protect their Interests in
the matter Of the recsiversbip Of the road
now pending. and will be represented at the
hearing Of the application by Judge Speer
on Monday.
Harden, West & McLaws have been en-
gagged to represent the interests Of the mi
nority stockholders, aad will appear at the
hearing on Monday in their behalf
Mr.. West said yesterday that they had
been requested by their clients and Others.
who were minority stockholders, TO repre-
sent them iD the matter and 70 take such
steps as they thought advisable for the pro-
lection Of their interests.
ALL SHADES OF OPINION.
Mr.. West said that the stockholders rep.
resented by his firm are Of all shades of
opinion ss to the validity and invalidity Of
the lease 10 the Georgia Pacific. and the ad-
vantages and disadvantages Of the control
OF the road by the Richmond and Danvile,
but they are all agreed upon one point. and
that is. that the breaking Of the lease now
cannot be otherwise than greatly injurious
to the stockholders of ali Glasses.
Mr.. West said there is movement to
unite all the minority stockholders in
Savannah, and the state as
Sgn6n,m0Dt w in the be opposition Hdi%.Ds6s to the
sand shares, probably 10000 shares by the
time of the hearing. He is positive that the
majority Of the minority stockholders is
strongly opposed TO the breaking OF the
lease.
A DIRECTORS OPINION.
A Central railroad director said yester-
day thAtif a permanent receiver is appoint
ed it will be fclly 20 appoint any one except
Gen. Alexander, as he is fully acquainted
with all the details of the business Of the
road, and is in position to handle it to the
best advantage. ''To pick up an ordinary
business man and put bim in charge would
be suicidal, said he. HE would be no bet
ter equipped than l would be TO run news
paper or any other business / never had any
experience in. The other gentlemen men,
toned are good men, but Gen. Alexander is
the Central railroad successfully"
PETITIONS FOR THE RECEIvERsHIP.
Petitions favorIng the different gentle
men who have been mentioned for the place
OF receiver will probably be presented to
Judge Speer.
Mr.. Rountree said last night, in speaking
Of the action of the minority stockholders
in opposing the breaking of the lease, that
the decision will not be made upon any pe-
tltion from any number of stockholders ex-
pressing their views upon the question, but
will be made simply upon the case as pre-
sented in the bill. and any number Of petit
tions or side issues presented will be of no
effect
j. Lamb Perry, Esq, arrived in the city
yesterday from Charleston, and is engaged
with Mr.. Rountree ia collecting evidence
preparatory TO the hearing.
Mr.. Perry stated emphatically that no
one inspired the attack upon the lease Of
the Central to the Georgia Pacifc-that he
and Mr.. Rountree alone were responsible
for whatever action had been taken in the
matter. 1t Is probable that he and Mr.
Roundtree are somewhat surprised that mi
nority stockholders are not flockng to their
standard with offers to assist them in their
effort to break the lease It may be that
the minority stockholders have not much
confidence 10 Mr.. Rountree's assertion that
the Central would be as good IL not better
Investment for them as an independent sys
temthan as leased property. Indeed, 1t is
possible that the minority stockholders NAV
think Mr.. Rountree is not intimately ac@
quainted with Centrals affairs. The talk
that the Richmond and Danvilles directors
never formally ratified the lease Is revived.
Whether they did or not does not cut much
OF figure at the present time. The only
question at issue now is whether the lease Is
void.
WANTS FAIR PLAY.
Col. John McAnerney, president of the
Seventh National Bank, and formerly vice
president Of the Richmond and Danville.
and now large Terminal stockholder, said
70 Baltimore Sun correspondent that all
the system wants is fair play. He knows
from personal experience that under eco-
nomical management there is nothing in
the country that would equal the prog
reBs OF the system and its untold
and undeveloped resources, if it
only had the proper direction and got out OF
the hands Of the stock jobbers When the
earnings have developed in the last fifteen
years to $43, ,000.0 600. 1t is proof conclusive
that even the manipulation of the past can
not keep the road down. Nothing has been
nxed about the president of the reorganized
Richmond Terminal. but it is generally un-
derstood that Col. Hayes is to be the man
The choice will be made as soon as the plan
Is announced, which may be any day thi;
week.
The failure Of the Richmond and Dan.
vile directors to confirm the lease of the
Central TO the Georgia Pacific is likely to
ngure In the receivership fight and may
compuCate matters further