New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-01-04
OUT OF GEORGIA CENTRAL.
THE CALHOUN BRaIHERS RETIRED.
THEIR NAMES LEFT OFF THE BOARD OF pif'-0
TORS BY THE BMGTnOMAs PARTY ~

THEIR NAMES LEFT OFF TIE BOARD of Di
TORS BY THE BRIGTnoMAs PARTY IN
THE RICHMOND CRIMINAL CONTEXT
Tile new management the Richmond ler"'" a.
Company has taken steps " have all t"e " ,,o
the roads which Il controls periec naI"o'' =, Tho
policy At a meeting Of Che board OF directors VI ao
Terminal an Saturday he Bncc.rhomas party "
known the ticket t-hIcb it had decided upon 10 seo
during the coming year directors OF ule .a,
Central Railroad. The annual meeuh8 vi III. -,
road which the Terminal controls VIII DC "o' ~ NJ
in savannah. George J. Gouid, d. =. M'o'" " .,,t
Logan ac the committee that presented the nc" ,'
from when omitted the bai!ic' VI '0 "
and Patrick Calhoun. ,.
For over a year John {. Calhoun has Deeh VIZ
president Of the Georgia Central Company anu
pIzed in New-Yort "a It's regularly accredi'cu "' ,
acont and he asserts that it Is through HIS '.
efforts that the Speyer syndicate was formeh W p'o
vide for the Cenras floating indebteohe9s VI -
"a. 100000 Patrick Calhoun, too, has been oio,Nn
connected with the management OF both the lernn,i
Comuany nd the Georgia Central. INC w
Dun brothers bought up coh'ioi'i"s -,
tercst I'm the Georgia Central hVe 'e
ago, and since that time have even "hen IL p a,,.,o
into the hands OF the Richmond Terminal peei 49,
I'm every branch Of its affairs They were also aonE
,ho managers OF the Tcrnlra system The loo"i"S
st.tement defining their pOstlon and the issues o'
which they stand was given ont by John u |ai"o
Late last night In answer questions that tocr 0O
will naturally ask: - ,a,gar
The Terminal stockholders are In great nn 1ybs
le and the hannonou, Of the roads
controlled by their company but upon aore pursued
o ,he Gentlemen who now control the company
ieopartizes all this. The differences DcCm.iI Thav
gentlemen and myself in no sense persona oiinn
grew out OF divergent views OF policy anu vi '''
u which cannot approve. .o, tho nuhlic prints
were ed with attacts the credit OF h ,e stayed
pny thee gentlemen not S 81 wen Sn me o Executive com
mtees And iGSt aer i @ay e rhaH are significant
u d, Continued There are those who believe ana
count myself among them, that u ,y e'n a. was
from Of the gentlemen nov Me eons0 sp.yer
&C. 10 fund Inc floating debt OF the central lo raa
year. and strong committee OF ieaei gentlemen wakd
nm 70 he ict tlat the Terminal Company nad os .sa
safely guided during te financial f s,r 1ts Sestrcton
and and hat they interest in the PROPERTY Win tho
rfsa.d Snpo 1f By the stockholders gross
hpcach Of faith 1t seemed TO me simply Gear
duty thai having been elected e. lSs Terminal sys
Tor, and 10 aid In pcriecting the best plan LOT on
payment Of their hOntng debts ana ue ~ each
r., S ,nDoront board Of the railroad companies IN
tho Terminal system should nave lS 81 cnmnanv 10
dsPG bv ne MEETING Of the stockholders which the
temporary directors stood pledged to can. 20 mon
rs to secure such control Of the railroads IN t h n nr
mnal system ms would hamper the ACTON oi e ap,,d
,o me- ~ he fraud upon the stockholders who ilaa
elected u.s. Ny inclination was to sever =. VV }oitb
association with gentlemen whose IDEAS ~ 60 q, INV
SiGe,d 20 widely from my own, but those VI NY
srends who IRE owners OF the securities OF tne com
pany urged TO remain until the perii'HcN' "--'
ageinent OF the company was elecfd Ala central
regard default Of The dvde cm OF d" and Dan
rad rnay ana the threatened default on all the
obligations Of Central road maturing on s nts' me v
TYnnary we differed Just widely IL sSehIe, 70
that as credit and confidence were espee@y nnntroeS
to The Terminal Company, the TACT that ~ y. Wahs
toh the Danvllle and the Central roads shouu a sn
is d,rsctor, particularly scrupulous in deang VIII
the obligations and assets OF tlese % POI ca,r ~ the
nar,e COMPANY and the effort to abstract secnriues
from the treasury OF the Central Inc to,,ne IN.
I'M Semanded securities valued at more thah
million Of dollars from the Central anu on hccljned
December 70. by :ormM r,so.2 , bpSrrinc on Janu-
ary l. and amounting 70 over TooUuo,,, rned over 10
securities In tho Central treasury "'i0 '
Tue n, nnrse these gentlemen knew that as the een.r
WIS leased and the Danvile Company III Lii mnnre
all t. earning the rscted emergency and the
pre,sur, upon the Central directors u saw. Sa,nit BE
system from the consequences ol sum ,a Bat fortu
naely they firm. Ana SO s,fOms ~ T arranged
that company that on "Wednesday tVsinns l 90 ali lie
for all the money necessary l" '' ~ "
isvcr on THURSDAY the executive committee OF
the Denvllc met ard rccnden lie ,t The payment
ccdns aerG am oh p9 US ., the Central bt also
he dividends on the Central Stock on when u 1 M
iccn in default for teveral DAYS. no" la ,an.
,,,,ve,,o that arrangements had been mad" ~ laN5
car, ~ the Ccntrals credit and obnGltoe ,hhue. .,
this sudden change Of front n nov ,bes Gentlemen
viii destroy the credit Of the company. IL ms sleS
created widespread d>tTust throughout the SouIH n
imnossL and force The dlsnteSratlon OF the syS'eL