The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-01-22

ATain NO. 10 from Charleston, due In Sa-
San1ah at 80 o'clock yesterday, was over
five hours late.
The second vestibule train from New
YORK, due In Savannah at Halo O'Clock,
olo not arrive yesterday until 4:5O o'clock.
Inc New York Sun says there is a pretty
well-founded rumor that the plan Of reor-
gsnlzatlon Of the Richmond Terminal svs-
tenn which the Olcott committee will sub
NIT for adoption, leaves the East Tennessee.
Virginia and Georgia out of consideration
II this is so. the sun says, IL would merely
De carrying out Gen. Thomas original pur-
pose. de has always appeared to be in
IaVor OF keeping that property independent
OF the Richmond Terminal system proper,
The Richmond Terminal Company has Ia
its treasury big block Of East Tennessee
stock, which, though much less than a MAJ
Jorlty, has been sufficient for the Terminal
70 control the latter system. But Gen.
Thomas and his friends are now in charge
OF The Terminal company, and they might
hHe 10 see change in the relations Of the
TWO companies. One of the Olcott commits
tee. however, denied that the plan under
consideration contemplated the independ-
ence Of any Of the companies. The Balti>
more san says overtures have been made
TO Samuel Spencer of Drexel, Morgan 65
Co., aud to E. B. Thomas, the first vice
president of the Erie road, to accept the
presidency OF the Richmond and DanyilIe
to succeed Mr.. Inmau.
A bill in chaucery has been fled at Chat
tanooga by H. Clay Evans against the
Chattanooga. Rome and Columbus railroad.
The savannah and Western railway, the
Central Railroad and Banking Company of
georgia, and the Richmond and Danville
railroad are also made defendants to the
SUIT. The complainant asks that the con-
Veyance made some months ago by the
Chattanooga, Rome and Columbus railroad
TO the Savannah aud Western railway be
declared fraudulent and void SO far as the
property in Tennessee is concerned, and
that the property 80 conveyed be attached
and sold to pay the debts Of the company;
That the deed of trust, made in September
1887, by the Chattanooga, Rome and Column
lus to the Central Trust Company Of New
York, be declared invalid, aud that
the complainants claim, already pro-
tected by decree and Judgment. be
declared a first lien upon the property
OF the railroad in Tennessee also
that receiver be appointed to take pos
session of the property Of the Chattanooga,
Rome and Columbus railroad in Tennessee.
The complainant further asks that the clerk
and master take an account OF the amount
OF the railroad companys assets, together
with the names and claims of creditors and
that the property attached be sold on a
credit OF six months and in bar of the equity
of redemption. The Chattanooga Times
says Mr.. Evans has chancery court iudg-
ment against the Chattanooga, Rome and
Columbus railway for $4,3l1, but has been
unable thus far to collect the amount
either by execution or otherwise. The judg-
meut Is based on a claim for work in repair
ing two locomotives. Tae suit in which the
decree was entered was begun ia chancery
on Dec. %, 1890 On May l, 1891, President
Williamson conveyed 90 the Savannah aud
Western the entire Chattanooga, Rome and
Columbus railroad, including franchise
and property. and contracts with express
and telegraph companies. The consider
alton in this conveyance was the assumption
Of 2'a4o frst pn mortgage sge ) 5"''I per
cent g, 900 gold bonds, aggregating 3d.
100000. This, the complainant contends,
was virtually all the consideration given
for the assets of the Chatta nooga, Rome and
Columbus railroad. No provision was made
for the payment of the debts due him and
Others, and 1.-THE other general creditors
suddenly saw millions of dollars of solid and
substantial assets vanish like phantom,
with only the winds to whistle to for their
pay" The Savannah aud Western took
possession, but Immediately leased the road
to the Central of Georgia The latter In
turR leased it to the Richmond and Dan vile,
which is now operating the road. Mr..
Evans claims that the original transfer was
made simply to defraud creditors He con-
tends that the Chattanooga, Rome and
Columbus was never Incorporated under
the laws of Tennessee. He charges that
the president and directors Of the road were
the holders and owners of the 2,240 first
mortgage bonds, and that the transfer was
made for the purpose Of applying the
assets to the payment of the
bonds held by the officers,
in derogation of the right of creditors. The
mortgage to the Central Trust Company,
be claims, is not valid as against his judg-
ment and decree; the sale was made when
the Savannah and Western could not by
law acquire the property. and no consid-
Grafton having been paid for the convey
ance except the issue of the bonds, the con-
veyance did not divert title as to effect the
rights of creditors. 1t is practically the
same company with O new name. Tho
plaintiff gave the required bonds, and
Chancellor Mcconnell ordered an attach
ment issued as prayed for. Quo wsrranto
proceedings were also begun in chan
Gerry against the Chattanooga. Rome and
Columbus and Richmond and Danville rail-
roads. Attorney General Brown signed
hill ON ralaSion Of II (vay Evans