The sun., 1892-12-18
GEORGIA CENTRAL LEASE.
RECEITER OAKMAN OF THE RICH
MOyD TERMINAL BRINGS HIS SUIT.

RECEIVER OAKIAv OF THE RICH
MOND TERMINAL BRINGS HIS SUIT.
Allegations or Fraud ana Conspiracy by Presi-
dent lima. and His Associates-Some Pc.
euiiar Methods OF Financiering.
Tho summons and complaint In tho suit Of
Che Richmond and West Point Terminal Rail-
way and Warehouse Company against John
d. Inman and other directors Of the company
and members OF the syndicate who imposed
tho ru!nous Georgia Central lease upon the
Richmond Terminal Company. were served
yesterday morning.
The defendants are the firms and individual
members thereof Of Juneau. Swami < Co.. H.
b. Hoins & Co. August Belmont & Co.. Leh-
man Bros. Kessler & Co.. l. Il s. Wormser.
Echolle Bros. J. & w. seligman. Blum. st.
Goar & Co.. Heidelbach. Ickelheimer X Co, +.
". Clark 4 Co.. Isaac l. Rice. John C. Calhoun.
md Patrick Calhoun.
Receiver Oakman was authorized some
months ago to bring action to annul the lease
and force restitution. but the work of collating
from the mass OF testimony such facts as
seemed proper to lay before the court in the
complaint made the task OF drawing 1t q tedi-
GUS one 1t was finally decided to bring the
suit in the State Court instead OF the United
states Court in order. among other reasons.
that more speedy hearing might be
obtained. The complaint filed yesterday is.
from necessity. long document. 1t
gives. however. n concise history Of tho
tran sactions by which directors OF the Georgia
Company contrived. In deal with themselves
as directors Of the Terminal Company, to
fasten upon tho latter contract which has
subjected the Terminal Company and its
stockholders. for whom they were trustees. to
. loss in interest account alone Of 100000 in
less than four years The actual cost to the
Terminal COMPANY OF this ,esse and A. the The
s"ouh. N'ien mus. ~ oo 20 te,unueu 'n " :. 10 Wv
enormous sum OF S75OoOOO paid for prop
erty from tho oreration OF which there has
been only los: and dsastG .on The
avav by the Georrla court decision that the
VA u, ,"e ueoI" .V ~, ..,at 10 ;I,anaI anI
In cnioininc tie voting rower on such stock.
{ Tbe comrIaint fled Yesterday recites, first,
tho clause Of the Richmond Terminal charter
authorizing tho COMPANY only to purchase or
n certain southern States and and the issue by it
i then gives ths history OF the pprehass Of
:S hfe OF s: ScSfr OF Ii. serndsn3s sGsk ah n
sic6U.No0. sum Considerably in excess Of
ants ami their. associates. then procured the
organization OF the Georgia COMPANY BY per;
stock "i Sl6.OO0.UO0. mono Of which was
ster raid M. Another set OF employees
the,lefendants then went through tho form
COMPANY uf the 10000 shares o! Georgia
Central stocE owned by the syndicate for So.
LOtuoU. payable in $lU.UOO.UUO of stock and
Gsorgia COMPANY. secured BY pledge Of the
4hUO shHres OF Georgia Central stock. This
proposal WIS accepted and the contract ex-
ecuted Jan. ]. lSSS The Georgia Central stock
ey ss saa Tn socE hS Of cns S. d.ps g
v o snd sSsIas ySsps
Eaary: lsssx tho syndicate attsm pted to sel
Qsorgi gia Company through u prominent bank
nE house win equally prominent Eu-
ss,es Sat H.. sSi ss 9bas::
bonds had bsen receiving more than nine per
cent. u year in dividsnts for several years. and
Dunlic. and the e.,ort to sell tile pooled mi
Ejc1%%on1rr Tsrnira} 5 csmOan, oa Nay y 81 y:
tim. tine simon i @ wormser and james swami were rs
also dirsctoEs. and in May. 1882 Patrick Cal;
Lnnn WIS elected dirertnr; ,, Ihe complaint
man ns;'ing fo ~ himseif, and sss9,cistes: So, ad:
S Ihs q, Ie5minsi r, tbs CEmFany
p''n'""' W. A'S ,",S " - VI A-Cs
C"o shares ol capisHl stock OF tho Georgia
company at $40 rer share making "a total price
o. iN.uo.'Wn
Th-renpoa the Term inal directors, who were
present ~ mee',nG 81 ths hoara specially
cepting such prnrosnl. and appointed a com
mti"e OF 'our directors TO arrange the details
81 surh rhrriase OF stoch. ana submit a plan
Tor proNidihs tn" money necessary to COM
rlrtr the rnT.llase.
me rnmmittee mus appointed made con-
tract WIN Tue synIicate L" purchase the
s,otk. ana also aGrora 10 purchase 81 oOooOO
o. tnr s,.i'h'"Iil .rust bonus o. the Georgia
Sompany ana 70 pi!chnSe Within ninety days
tmn t.nin,h!ms ';, ing so.WoVoo 81 Donds; or to pro;
St', Sur" im.', sMhrah,e" 10y 'ne ilchmond ana
directors mrnting Nov. Z. 1883.
rfrrsident ,nman a"rroweI 81 Tx credit OF
", W. 81 niha, ON pahy tne w necessary
r inr w.. sa-n hnd men Ihe com plant
th h. pa, rnt, tmn 1e sum 10 lmss. 80 ana
tMnr M .,het ielIesen.atNe 'rh"ors o! me syn
a""tm ..xhninG 'ne sn.n wiring, am thc direi-
hum' sim"n Wormser. anu mat; parck rckn Cahommn
We. IN fact Interested to large extent In