The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-04-22
WITH THE RAILROADS.
THE EATONToN BRANCH REFUSES
TO ENTER TIE PLAN.

The Stockholders Viii Look for Some
thing Better Outside the Reorganiza-
ton Plan-The Alexander Brown In
tervention to Be Heard Before Judge
Jackson May 2-The Status OF the
Augusta and Knoxville-Are the
Venderbilts Looking for a Southern
OutletP
The stockholders Of the Eatonton branch
road between Miliedgevills and Eatonton
have decided not to enter the reorganization
plan Of the Central railroad.
Mr.. A. r. Lawton, Jr., returned to the
city yesterday from Eatonson, where he
had been to appear before the stockholders
to explain the plan. lie said yesterday that
the action of the road could have no posi-
bic effect on the reorganization. and that
they drew out ne supposed. IN hopes Of Sc
curing greater advantages outside the re-
organization. The road is bus twenty
miles in length, and has no rolling stock.
There were $40 shares represented at
the meeting. Under the plan they were to
receive 100 per cent. i'll bonds, 50 in pre-
ferred and 80 in common stock, which vas
considered among the best provisions made
under the plan for any road in the system. 1t
is thought that the road will not do as well
apart from the Central as in connection
with it.
TO BE HEARD MAY 2.
Notice was received here yesterday by
g rrerd & Meldrim aud Lawton s. Gun
ningham, and by the mourning NEWS. that
10 the hearing of the order to show CAUSE
IN the case Of the Farmers Loan and Trust
Company Vi. the Georgia Central Railroad
and Banking Company, on the petition OF
Alexander Brown d Co, Simon Berg & Co.
and others, adjournment was granted until
May ,, on which date the case will be heard.
The case was 70 have been tried on Thurs
day, but at the request of the counsel for
the Hollins reorganization adjournment
was granted until that date. This is tue
case brought by Pat Calhoun for the pur>
pose Of staying the foreclosure proceedings
in the interest Of the above mentioned par
ties who are large holders Of Macon and
Northern, and Chattanooga, Rome and
Columbus bonds.
THE AUGUSTA AND KNOXVILLE.
The Central having defaulted on the in
terest on the bonds OF the Augusta and
Knoxville on April !, which default made
the entire amount Of the bonds due, suit
was brought by the trustees Tor the bond
holders 10 the South Cor olina courts for
foreclosure of the mortgage, as has been
mentioned before in the MORNING NEWS.
Mr.. John W. DickeY OF Augusta hes ad-
vcrtised for the names Of bondho!ders of
the road and says that he can furnish them
information that will be of inter-
est. His idea is to supple
ment the original petition In the case by an
Intervention signed by the stockholders,
which he claims will give them better
chances for & speedy settlement.
MIR. Dickey states that the road is able to
pay its fixed charges and interest, and that
the attorneys for the bondholders will ask
for a separate receiver for the road, that its
earnings be kept separate from those Of the
Central, that speedy sale Of the property
be made and that no receiver certificates be
Issued. as they would constitute q prior lien
to the bonds.
1t is rumored in New York, SAYS the
Rerdld, thet the Nanderbilts are buying
stock in the Queen and Crescent, or Ala
bama Great Southern, with view to au-
neKing it TO the Chesapeake and Ohio sys-
TEN and thus obtaining g southern outlet.
Il is said, however that the Nanderbits
have never before manifested any desire TO
reach southwark, for this reason the reports
are discredited.
The stockholders OF the Augusta and Sa-
vannah railroad will hold meeting here on
April 20 for the purpose of deciding whether
to enter that road in the REORGANIZATION