New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-05-29
RAILROAD INTERESTS.
DREXEL MORGAN * co. TAKING HOLD
An EXPERT EXAMINATION OF THE r. L SiSIE"
u.pr ONCE.

The firm Of Drexcl Morgan Co. IS evhehuS "o'
coin IN allow the grass TO grow under its feet rs'
inc the preliminary work to be done IN the r"oH'""
ton % the Richmond Terminal. lo-mofIo" oa"'"''
spencer who is railroad expert for the hrin' WI" S'''
an tour over the Tel nina system to make 'ho'o"1
preliminary examination Of the CONDITION anu p''
need. NJ the property. Walter &. Oakman' pre'ne"'
- ,ho Richmond Terminal will accompany Mr.
sn,nccr The tour will last ten days or two weeks.
Fresh litigation against the Richmond and DahNh'o
afford. another illustration OF the hara>Sihg po''
,,,in., rollr,ld capital now unwsely popular IN
Georgia. The following dispatch was received by 're
Danville officers here from Macon. Ga:
III NJ Conner chairman ot the board OF rfeVerS
If n. Georgia Corral Railroad. appcaref before Judge
u,v >nc.r ~ the United states District Court, ana
,,.scn,cd a sworn statement showing that the Kich
nond and Danvillc is Indebted TO the georgia ''hH"'
Instead Of the Central to the Richmond ana DahVe'
lie claim, that the 4.ao1 shares OF St"'h oi Tue Wv"
ENGLAND and savannah steamship company ar
Illegally held by the Danvlc. and that the sto'R Is
needed upon which 10 raise money u pay OH NV III
dcbtcdne.s Of the Georgia Central Road. Inc peu ''h
t forth that the books Of the Georgia Central Nho"
,ha; lhc Richmond and DanvIllc. In operating '''
rond received 100000 in excess of iiS disbursements
and piays he 10 take not OF tia' l~I '"uEo
spc,r inmcdla ely issued an o''!er that the hchh""
and Danville show cansc on June D. why INC ouer
and the relief prayed for shall not he granted. Inc
d NJ thc Dnnville 10 the Georgia Central Is gd
TO bo - .OOO.OOC.7
Mr. Oakmnn Yesterday said. with reference to these
Proceedings: The Richmond and DanNlIc ms re-
ceved no indication OF how any claim OF Illegal hodhs
Of >torks Il, made ont. No securities OF the georgia
Central Railroad are In hands or have BEEN Inc
only security belonging TO hat company WIN "moh
we have any relations is the New tngahi ana
savannah steamship Company stock loaerd III
escrow with the Central Trust Company ~ col
lateral. and now I'm the hands OF the court III
Ngcon Ga. As for the claim TO S2,OOO,oOo' u
difficult 10 understand where property Of any SUCH
amount could be found upon road That was urh"l
Owe? with very large outstanding liabilities "n"
where the treasury assets never came into the halls
cf the Danvc Company at all, other than outstanding
balances, The accounts the panViHe Do"hH 81
operations show very large amount rs II u'h,lI
nom the results OF operations and pay hi'n,N,
including dividends, all Of WHICH went - W"
benefit II the Georgia Central kallr ni, OF hS
stockholders. The accounts between IA" TWO com
panic, are now being Systematically examined U.
railroad officer Of wide experience. thorough t,hr-
ency and high character namely. Mr.. :. VI NlIIhniH'
second vice president Of the Jersey Central ana LOT
merlv controller II useless to discuss these mat
tiers un they he presented and passed upon prop
ery which anxious IA promote In oruer "
reach Il settlement