The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-10-14
new DIRECTORS ELECTED.
The Outgoing Board Elects the New
South Bound Officers.

AHS OutSVlhS DVuiu LlSOlo nv RbH
South Bound Officers.
The Directors Resigned One by One
and New Ones Chosen to Fill the
Vaoancies-Messrs. Denmark and
Haskell of the Old Board Retained.
No Immediate Changes to Be Made
In the Operating Department.
The directors of the the South Bound
railroad held a meeting yesterday at noon
in the Provident building for the purpose
Of taking the last step toward COM
pleting the transfer of their property to
the Florida Central and Peninsular
railroad, which was formally made in
Baltimore last Tuesday That was the
election of new board of directors of
the South Bound railroad.
The old directors rendered their resig-
nations and a new board was elected.
Messrs. B. A. Denmark and A. G. Has
kell, however, who were members of the
old board, were elected members of the
new board, they having rendered their
designations, which were refused.
THE NEW DIRECTORS.
The following new board was elected:
Presidential II Duval New York
Vice-President-J. E. Tucker, Savan-
nah.
Directors, w Bayard Cutting, New
York, II. Fulton Cutting, New York,
John K. Gapen, New York, B. A. Den
mark, Savannah, and A. c. Haskell, Col
umbia, S. G.
The localities given are those at which
the respective officers of the road will be
etaffnunH Mr. vs-h g al bod
vice-president and who is an assistant to
the president, of the Florida Central and
Peninsular, will be stationed here in
Savannah, where he will have charge of
the affairs of the company
HOW THEY WE'RE ELECTED.
The most notable feature about the new
board of directors and one that may be
said to be a little unusual is the manner
in which it was elected, thereby saving
meeting of the stockholders, which by the
way are now the same as those of the
Florida, Central and Peninsular. The
new board of directors was elected by the
outgoing board, and though that state
ment seems a paradox it is nevertheless
a fact When the meeting was
called to order at noon Mr.. Quicken
heimer, a member of the board Of
directors of the South Bound rendered
his resignation, and the remaining direc-
the same time electing him president,
Then another member of the board re-
signed and another was elected to take
his place and so on through the list with
the exception of Messrs Denmark and
Haskell, whose designations were not &C
cepted.
HIS OFFICE IN SAVANNAH.
Vice President Tucker will have his
Office located in Savannah, and he will
bQVA rharpA nf tina Affairs Of tha
Florida Central and Peninsular sys-
TEN at this point. The road will have Of
fees at their depots here and also at Bull
and Bryan streets, where the city ticket
offices will be located Mr.. NJ. Hamilton,
the secretary of the old board of South
Bound directors, was retained in that po-
sition.
There was no discussion Of any moment
with regard to the officials in charge of
the operating department of the South
Bound, and the policy of the new board
Of directors seems to be to retain all of
them, for the present at least 1t was
decided at the meeting that no changes
would be made at present.
SATISFIED WITH THE DEAL.
An account of the transfer of the South
Bound to the Florida Central and PENN
sular, and statement of the contract
between them, has already been given by
the MORNING News. The stockholders
of the road neither lost normade anything
on the deal, but were satisfied that they
had been enabled to give Savannah a new
system comprising thousand miles of
road. The stock was sold at about 81
cents on the dollar, and was paid for in
bonds Of the Florida Central and PENN
sular at 92lE,
The Savannah Construction Company
will not wind up its affairs for some time
yet. The company is largely interested
in the bonds of the South Bound railroad
which have been Endorsed by the pur-
chasing road, a large amount of which
they still own.
The contract or agreement between the
two roads completing the transfer legally,
was filed in the superior court yesterday
The purport and intent of it has already
been stated. BY it is seen that the
Florida Central and Peninsular assumes
the outstanding liabilities of the South
Bound, including notes of the company
and other indebtedness.