The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-01-05
THE MOREIN G NEWS. /
ESTABLISHED lS50.INCoRPoRAIEDlSSs.
J. Il. ESTILL, President.
TERMINAL ALL THE TALK
BUMoRs AT ATATLANrAO OF CHANGES
IN OFFICIALS.

May Quit the southern Railway and
steamship Association and the
southern Passenger Association
John Calhoun Attacks the Terminal
ATLANTA, GA, Jan. 4-Rumors about
changes in the Terminal are thick to-day.
The most important are that the Central,
Georgia Pacific, Richmond and Danville
and the East Tennessee will withdraw from
the Southern Railway and Steamship Asso-
tiou and the Southern Passenger Associa-
tion. Another is that W. H. Green, gem
eral manager OF the Richmond and DAN
vile. will be elected vice president Of that
line; that J. s. B. Thompson will be made
general manager of the Richmond and Dan.
Vile and V. E. McBee will be made general
manager Of the Central and Georgia Pacific.
II is also said by railroad men that the Gen.
trail and Georgia Pacific, the East Tennes-
see and the Richmond and Danville
will be operated as independent
lines. About Terminal headquarters there
was also much talk 70 the effect that Sol
Haas will be appointed general traffic man
ager of all the Terminal lines. with J. NJ
Culp, traffic manager of the Richmond and
Danvie, and F. 3. Davant traffic manager
OF tue AolLThl anu NbDl EAa 4 aGluC.
THE CITY FUl OF TALK.
The retirement of the Calhouus from the
Terminal was the one interesting topic of
conversation, both among railroad men and
i'll business circles generally. Among those
who took q great deal If interest in the
situation was Hon. Bob Berner of Monroe,
author Of the Berner anti-railroad
consolidation bill, which created
such fight in the last
legislature. He says the present state of
affairs and the present feeling against the
Terminal system is just what ne prophesied
or the floor Of the House when urging the
legislature to pass his bill. Mr.. Calhoun
urged, said he, that the passage of the laws
against consolidation would ruin the pros
pertv of citizens of Georgia. and on that
account mainly the bill was defeated. Now,
in the absence Of that law, Mr.. Calhoun
tells the people that they are about to lose
their property through the manipulations of
railroad wreckers on Wall street, which he
says he does not exactly understand.
JOHN CALHOUN TALKS.
WASHINGTON, Jan. New York papers
to-day publish with varying degrees of fnll-
ness the utterances Of John c. Calhoun
with regard to the Richmond Terminal
affairs. The following is from the New
York Times:
been vice president of the Georgia Central
Railroad Company, but whose name. together
win that OF his brother. Pat Calhoun, general
southern counsel OF the Richmond Terminal
system. was left off the ticket for the director
ate OF the Georgia Central prepared by the
Richmond Terminal directorate at its meeting
on Saturday, was seen by 1imes reporter last
evening and freely expressed his opinion on
the Hchmond Terminal situation. Pat Cal
houu, who has resigned all the Offices he held
unier the Richmond Terminal system because
hls name was left cut Of the Georgia Central
directorate, has already had his say about
What ne calls tie courageous programme" of
the controlling interest in the Richmond
Terminal. John c. Calhoun said
The Terminal stockholders are in grave
danger. The value Of their stock depends not
only upon the solvency and harmonious man
sgement OF the roads controlled by their com
pany, but upon further consolidation of It's
various lines. The course pursued by the gen
ttenen who now control the company
leopardizes all this, The differences between
these gentleman and myself are in no sense per-
sOla" Ihey grew out or divergent views OF
Pohey and OF actions which l cannot approve
DQilag the past summer, when the public
uIlhVs were full of attacks upon the credit of
stao away from even the meetings in
tne executive committee And just here
may be interesting to inquire who
inspired those attacks. They are significantly
alseQntiuued. There are those who believe,
and count myself among them that they ema-
LNVed from some o. the gentlemen now in CEN
TToL IL was not until | had arranged with
nessrs. Spleyer & Co to fund the floating debt
VI tue Central tor year, and strong commit
Se OF leading fnanciers had been appointed
sla1 some or these Rentlsmen walked up to the
@ aacG mat the Terminal company had been safely
kuleu curing the financial strlnEency of the
paso year In spite OF the pitfalls SCI for its de-
.Euclon and that they had interest in the
n property. Regarded their failure TO cooper
~ Wtn the committee appointed by the stock
.olers as eross breach Of faith. 1t seemed
w. W. ne simple, clear duty that having bsen
S0'eI temporarily to await en investigation
sys,.rt % the railroads in the Terminal
9stem and to aid in perfectiny the
9sst plan for paying their floating
osot Sot and the permanent readjustment of their
~ atHArs' control of each of the Important boards
& VI The railroad companies in ths Terminal sys-
sslh should have been left at the disposal of the
a permanent board of chat company to be elected
y meeting of the stockholders, which tenn
tHU.aIy directors stood pledged to all To seek
H"Ioug1 use OF the temporary power conferred
ston them TO secure such control of the rail
Io@u companies in the Terminal system as
a ,Dul Tou.u hanlper the action OF the permanent
"A management, to be elected later on, appeared
e ~ .ae fraud upon the stockholders who had
I9cs5d us. My inclination was to sever at once
ty assoc atlons with the gentlemen whose ideas
bts h. sUou Ialth differed so widely from my own,
tS Iu' th2se OF my riends who are large owners OF
s sae securities of the company urged me to
n tt55alalh ~ until the permanent management OF
'ue company was elected
~ IN N regard to the default on the dividend of
Il sae central road, guaranteed by the lease to
~ richmond and Danville company and
a GCI,eatened default on all obligations Of the
q Just as widely Va '~-- - "0 N'AA0i0
n L.. II seemed to me that as credit and conf
couce were especially important to the Terminal
s fETa,nPahy, the fact that it controlled both the
SanVlle and the Central sh 5uld make its
S@hectors @ particularly scrupulous in dealing
Ill isu Che obligations and the assets OF these
t5a pahles could not give my approval to
s ue Tamped-up claim of the Danville
o,upahy end the effort to unlawfully abstract
81 H. lCes Ces from the treasury of the Central
81 rs5 ,e issue was distinct. The gentlemen tempo
81 reo,y controlling the company demanded
fb uIlves Les valued at more than 81 ,000, 900 from
& farC Cfshtrai, and on Wednesday, Dec. 80, by
tbo ilai IA resolutions positively declined to pay
tue obligations of the Central maturing on Jan.
amounting to over $685. 000 unless these
ovar t IN The Central treasury were turned
var.l w Vie Danv1lle company OF cou Sc these
M and tS llgu m knew that as the Central was leased
M Of w. DahYllle company in possession of all
prs a. oaG hings, the former was necessarily un-
and tso ps'eu Tor such an unexpected emergency,
4 save ne t pressure upon the Central directors TO
& Of s,o oIeir great system from the consequences
# yss ~ el uel ault by the surrender Of securities
s firm very great. But, fortunately, they were
Of tbt anu SO strong in tho credit
evaD;susG ;susG company that on Wednesday
70 tag arranged for all the money necessary
az ever o are Ar OF It's maturing obligations How
y & the - thursday the executive committee OF
preoaS;V Vlile met and rescinded its action of the
payms' afternoon and not only ordered the
N Cent, OF all the maturing obligations of the
on wbaiLl but also the dividend on Central stock
How fo. Il. had been In default for several days
been no no tne knowledge that arrangements had
And obi,Ie 70 take care of the CentraPs credit
w |Dt fror, 1lIous influenced this sudden change