The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-04-27
a FIGHT NOT LOOKED FOB.

The R!chmo nd and Danville Expected
TO Deliver Up the Centrsrs Securities.
According to the terms of the orders
issued by Judge Speer against the Rich
mond and Danville railroad last Friday to
show cause why they should not release the
stock Of the New England and Savannah
Steamship Company held in escrow by the
Central Trust Company of New York and
pay over the $50 900 insurance collected
upon the Macon depot, the Richmond aud
Danyille, as already announced, will have
to make answer before Judge Speer ia Ma
CON Friday why it should not acquiesce in
the order and order the stock rele ased, and
pay over the $4,000 collected
on the Macon depot. It is not known yet
whether the Richmond and Danville will
make any answer. 1t is not believed that it
will make any serious opposition to the
orders. Capt II. @. Cunningham, counsel
for the Central railroad, said last night that
he does not believe there will be any though
the Richmond and Danville will probably
make answer endeavoring to show why it
should not be compelled to act in accordance
with the order OF the court. Upon their
answer will depend Judge Speer's further
action,
Capt. Cunningham said that Of course he
did not think the Richmond and Danville
will be able to snow sufficient reasons why
it shall not comply with the order. In
fact he said, there is no reason why 1t
should not release the stock. 1t is not
profitable to this company, as 1t derives no
income from il.
Capt. Cunningham said the statement
frequently made that the Central placed
the steamship company stock as security
for the payment OF the January dividend
was a mistake. The Richmond and Dan
vile frat demanded that the Central give
securities on which to raise money
to pay the January dividend This was
squarely refused by Gen. Alexander and
the directors.
About the same time the claim for $780,
600 against the Central was trumped up by
the Richmond and Danvile, and President
Alexander and the directors agreed to place
the New England and Savannah Steamship
Company stock with the Central Trust
Company OF New York to await an arbi-
tration between the two roads. The Central
was ready at the time set for the arbitra-
ton, but the Richmond and Dauville was
not, nor has it evilced any desire since to
have the matter come to arbitration.
In this situation the stock now stands and
the order to have It returned to the Central
is very reasonable Que.
As to the legality of the lease Capt. Cum
ninghsm said this point, decision upon which
was reserved cannot be decided now until
the November term. Il is possible that the
bill may be dismissed before that time and
consequently the accompanying allegations
will remain undecided Even if the lease
should be declared illegal he said 1t could be
taken as a measure by which to ju1g8the
liability Of the Richmond and Danville, as
it could be taken Hs contract for the
operation of the one road by the other and
SO would give an idea of the understanding
upon which the arrangement has entered into
which could be used in estimating damages
and liabilities. Exactly how the court
could enforce its orders in case of refusal
to comply by the Richmond and Dsnville,
Capt. Cunningham said he was uncertain.
1t might sequiestrate the property of the
road ia this state and withhold its incoms
until the orders are complied with, as it has
the power to do.
President Conner is expected back from
Macon to-day.