The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-07-02
JUDGE SPEER on CRAWFORD
He Regards Him As a Man Of Unusual
NildnCSS.

The Weeks Work of Great Value 20
the Future of the Property The
Judge sugRcsts a Plan Of ReorRani-
cation Justice jackson Delighted
With Savannah.
Macon. Ga, July Judge Emory
Speer has returned from the great trial
in Savannah in a very hopeful frame Of
mind with regard to the Central proper
ties He was seen to-day by MORNING
News representative at his residence in
Vineville He talked unreservedly about
what had been done. Among many other
interesting matters. he stated:
81 think the week S work at Savannah
has been of iucstimable value to the fut-
ure Of the great property with whose
administration the court is charged.
The court had an advantage Of the most
practical character i'm Justice jackson
business experience and knowledge. He
has been interested in banking and has
been counsel for many institutions,
handling securities like those of the Cen
trial Besides, as Circuit Judge, he has
administered many great railroad prop
critics in the pOpulOus Western states,
and his experience as a business Judge
enabled him to perceive at a glance and
cope with every question germane to such
matters as they were presented by the
trained counsel for the trust companies
from New York.
AN EQUITABLE SETTLEMENT.
"The result is that we have cleared the
deck for a settlement of the properties on
a solvent basis OF course many OF the
counsel Will feel the sting of defeat, but
they will get over that. There are $50
lated questions important in themselves,
but comparatively unimpOrtant when
considered with the whole litigation
about which there may be appeals
The great work done is that after the
most searching, critical invcstgationiuto
the administration Of all the properties,
the court refused to disturb its receiver
II saw nothing in his action to condemn.
Judge jackson indeed gave the most ear
nest Communication TO the HOllins reOr-
ganiZatiOn plan, which Mr. Conner has IA
vOred. He pronounced it from the bench
TO be the best thing in sight He eX-
pressed his deep regret that it, had failed,
and he predicted that those who opposed
il would live to regret their action.
NOT A PRACTICAL MATTER.
''The Eens and priorities of the mort
cages were adjusted. That settled about
everything in dispute so far as the decl-
sion Of the circuit court can settle it.
Now business men can take hold of the
situation with a fun understanding and
accurate knowledge of what the liens are.
We Differed it is true, about the voting
trust of ~ 600 shares of stock. which
Judge Pardee and myself had enioined
but that is not now practical or intiuen-
tial matter, and before the supreme court
passes on it, the property. in all probable
ty, viii be happily re-Organized. The de-
cree itself is so carefully drawn as to
save an immense sum to the property.
HIS IDEA OF REORGANIZATION.
"Well, Judge, what is to be the outcome
to our people2'
After a careful talk with Justice Jack
son over the situation, my opinion is that
the Southwestern and the Augusta and
Savannah Railrond ought to unite and
float s. bond on their two lines and on
the main stem and buy the line from At
lanta to Savannah and perhaps recor-
game under the Southwestern charter
Those interested in these three prop
critics can thus own the cream of the en-
tire Central system and fairly take care
of the debentures and perhaps much of
, its stock. This also is the opinion of
Justice jackson. We both believe these
two roads can do this and not feel it,
They control the situation The unprO-
ductive roads must go They ought to be
surrendered to their lessons or sold out.
The Central ought never to have been
loaded down with them.
Judge, how about the attacks on your"
ooh, will let the action and declara-
ton of the justice for the past week ans
wer that question " he said.
THE JUDGE ON Mr.. CRAWFORD.
''HOw about MIR Crawford"
The judge smiled, and after moment
said MIR Crawford argued his case very
well but he, in my presence, uttered no
syllable to which either | or my most
sensitive friend could object. To me, Mr.
Henry Crawford seems to be a man of I'M
usual mildness.
Il will add" said the Judge, chat
Justice jackson was delighted with Geor-
gia, with our state and our people We
were the recipients of many delightful
attentions in Savannah We drove down
TO the Central wharves yesterday and
went over the NacOochee, and he stated
that in his business Judgment the Central's
terminals and wharf property alone were
worth the entire capital stock of the
company. l do not think there
is any reason to despair, and if there is
no crushing business panic | now conf
IDENTIFY expect to see many millions of
values preserved to our people Mr.
Conner is also confident. He leaves for
New York tonight to confer with capital
lists there
MURDER IN COFFEE.