The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-01-03
THE RUSH FOR DIVIDENDS
A NEW DEAL IN TIE CENTRAL
RAILROADS AFFAIRS

RAILROADS AFFAIRS.
The Calhouns Out OF the Directory and
Two Savannah Men Rumored to Be
Slated for the Vacanciss-Gen. Alex
ander Says he Don't Know Who
They Archie Election to Take
Place To-morrow-FOu Vacancies
Altogether to Be FnIed-Capt RaouI
Talked of.
There was big rush on the Central Rail-
road Bank yesterday for the payment Of
Central and Southwestern railroad divi-
dends aud the interest on the Centrsrs GER
tifcates Of Indebtedness.
A crowd gathered at the bank by 0
O'Clock, when the doors were opened, and
until O'Clock it continued to pour in stead
lily. There was long line of stockholders
at the windo waiting t1eir turn all the
morning, and at O'Clock. when the bank
closed, there was still large number wait,
ing. Dividends and interest we're paid out
steadily and without interruption.
Some commotion was caused in the morn
ing by the refusal 70 pa the interest ON
the Augusta and Knoxville bonds Of the
Port Royal and Western Carolina railroad.
The matter was Strengthened out later,
however, by kilograms from New York
authorizing the payment OF the interest on
these bonds.
DUE TO A MISUNDERSTANDING.
Gen. Alexander was seen about this diffl~
Guilty in the payment OF the
interest on the Augusta aud Knoxville
bonds, and he said that it was
due to a Misunderstanding OF the statement
made by Cashier I. NJ. Cunningham about
two weeks ago Of tho different issues Of Port
Royal and Western Carolina bonds which
were to be paid, which letter had probably
been mislaid. The Augusta and Knoxville
bonds, he said, were an issue which was not
held by the Central and was not guaran-
teed by it. but which 1t had paid the inter.
es: upon heret ofore in order to protect a
subsequent issue of honds by the Port
Royal and Western Carolina. When the
matter was brought TO the attention Of the
Richmond and Danville 1t agreed to pay the
interest upon the bonds, as the Central had
done heretofore, and payment was begun
upon instructions.
THE CALHoUNs OUT.
A new phase was added to the very inter
esting topic of the policy of the Richmond
and Danville with regard to the Central
railroad b. an Associated Press telegram to
the MORNING NEWS from New York last
night that at a meeting Of the Richmond
Terminal Company. held in that city
yesterday action was taken Ia the matter
of directors of the Central Railroad Com
pany OF Georgia, and it was decided to
leave off john 9. Ca houn of New York and
Patrick Calhoun OF Atlanta. The latter
had already reSigned his position as att ,r-
ney Of the company. The dispatch said
that as yet no one had been selected to fill
their places, bu1 the probabilities were that
two Savannah men would be selected.
GEN. ALEXANDER SAYS HE DON'T KNOW.
Gen. Alexander vas seen with regard to the
information conveyed by this Dispatch He
did not seem surprised at the information,
but said he had no idea who would be
selected 20 succeed the MessrS Calhoun is
case they were displaced. Savannah men
might be selected, he said, and it is equally
possible that the new directors NAV
be elected from Macon, Atlanta or else
where In the state. lie said there will be
two other vacancies 10 fill in the board be
sides the two caused by the withdrawal of
the CaIhouus The vacancy caused by the
resignation OF E. NJ. Green Of Savannah,
after his failure last summer. has never
been filled, and Sa uel H. Inman of At
lanta has declared his intention of resigning
several times. Mr.. lnman has not attended
any Of the recent meetings of the board,
and will not stand tor re election. This will
make four vacancies to be filled.
THE LEGAL BOARD.
AS under the charter eleven of the thir-
teen directors of the Central must be oiti-
zens and residents Of the state, three Of the
-FOUR new directors must come from Savan-
nah or elsewhere in the state. In this case
1t is interesting to know who will compose
tho next board.
The board elected at the last annual
meeting last January was as follows:
r. +. Alexander. J. K. Garnett, e. NJ.
Green, Abraham Vetsburg, Joseph Hull, c.
II. PhiniZy, John G. Calhoun, 8. M. Inmau.
n I. lnman, E. p Howell. James Swami,
U b. Harold, Pat CALHOUN.
Without John @. and Pat Calhoun and ).
M lnman and E. N. Green, the members of
the board who viii PROBABLY be re elected
are E. p Alexander, J. K. Garnett. A.
NetGburg, Joseph Hull, C. q. PhiniEy, H.
lnman, (. 2. Howell James Swami and
I. B. Harold, niue OF the thirteen,
TO BRING THE PROXIES,
Gen. Alexander said that Gen. Sorrel
manager Of the Ocean Steamship Com
pany, who has been in New York for some
time, left New York for Savannah yester-
day with the proxies of the New York
stockholders, and the list of the direc
tors whom they have selected
for reelection. He was in ignorance, he
said, as to the selection, and was unable to
hameany Savannah man or men who might
be elected to fill the vacancies on the board
There was 'rumor in circulation few
days ago that the Brice>Thonas party who
are now in the ascendant in the Terminal
company meant to displace Gen. Alexander
with Capt W. @. Raoul, the former president
of the Central railroad. There is nothing.
however, to prove the correctness Of the
rumor. Capt. Raoul, it is known, desires
TO return to Georgia. He has recently built
O fine house in Atlanta and would
much prefer TO live in this state to Mexico
or elsewhere where he has been since leav-
ing the Central.
In view Of these facts and rumors the
election of Central directors tomorrow will
be awaited with considerable interest