The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-01-07
A BIG GUARANTEE FUND.
TERMINAL KINGS PLEDGE THEM
SELVES FOR S5,Coo,ooo.

A Probability That the Renewal of
Confidence Thus Created Will Make
1t necessary to Call for Only Small
Part OF the Money-Scott to Succeed
Iuman as President-The Big Com
mission Demanded by John Calhoun.
NEW YORK, Jan. "a gentleman who is
thoroughly informed on all matters related
to the present situation in the Richmond
Terminal matters told an evening paper re.
porter some hitherto unpublished facts con
oerning the affairs, past and future, of that
company. He said: 1.-THE Olcott commit
tee is now making a thorough examination
into the affairs OF the Terminal
and Danville companies. 1t will
probsbly report in two weeks.
When the report and recommendations
have been accepted by the stockholders, it
Is likely that certain changes will take place
In the management of the Danville COM
pany. think that Mr.. Inman will be sue
ceeded as president of the Danville by either
George S. Scott or by Gen. Thomas, prob
ably by the former, as Gen. Thomas would
not care for the position. Mr.. Inman will
undoubtedly, il he chooses, remain as presi-
A@~@N@eNa
GUARANTEE FUND.
"The $5.0)0,O0O guarantee fund raised
yesterday makes the course perfectly clear
now. AS the fund is guaranteed, the banks
holding the Danville loan will feel secure
and probably only small part OF the sub
scrtption will be called. The subscribers
were Gen. Thomas, Jay Gould, Col Payne,
and some Of the present directors Of the
Terminal company. The First National
| Bank is also down on the list. This accounts
| for the probable re-entrance of George s.
Scott as president Of the Danville.
DROPPING OF TIE CALHOUNs.
"rhe dropping of the Calhouns from the
| board OF the Georgia Central was due more
to pressure from outside holders Of Ter
| mtnal securities than pressure from the
other directors. Then it was felt that tho
| Calhouns were not in sympathy with the
new management. John G. Calhoun had q
| claim against the Georgia Central Of
| $4,000 for placing certain securities
and loans This amount was cut down bv
arbitration to S35, ,000 and since that time
1t has been discovered that the Georgia
| laws forbid director Of the road receiving a
| commission for services rendered the road
unless written agreement between the other
| directors and himself was in force prior to
those services. So l think it doubtful
| whether Mr.. Calhoun will receive anything
on his claim"
ATLANTA's RUMoRs.
ATLANTA, GA, Jan. GA report IS in
| circulation here to the effect that the Rich
mond Terminal headquarters are TO be re-
moved from Atlanta and that they will be
taken back to Richmond and Washington,
| while the Central headquarters will be
| returned Co Savannah. A wsll-kuown rails
| road man is authority for the statement.
Both Manager Green and Assistant Man
ager Thompson are out of the city and the
rumor could not be substantiated. The
| force Of clerks in the Kiser building, not
wIthstanding the recent upheaval in Ter
| minal affairs, place no confidence in these
rumors. One prominent railroad official
in conversation to-day declared that the Ter
minal headquarters were moved to Atlanta
| only to kill such legislation pending OF that
would come up inimical to the system. The
same official also stated that, in view of the
| Calhoun letters and other information now
obtainable if the general assembly were in
session the most radical legislation would
be attempted; that the Berner bill, or even
the Olive bill would 90 through with a
rush, for, said he, great deal OF evidence
that was suppressed then would now be
easy of access.
The clerks Of the Richmond Terminal
were paid off late yesterday evening. Their
| December salaries were considerably over-
| due and tho situation was becoming en-
barrassiug. To-day, however, they are all
| jubilant.