The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-10-01
LITIGATION IS PILINC UP.


The Strained Condition OF the Money
Market May Also Result in Delay
ing the Sale of the Road for Some
Time After Next February-Reor-
ganization Would Require More
Money Than Can be Put Up Until the
Market is Easier-Says There viii
be No oo-Reosivsr Appointed.
If litigation keeps piling up as 1t has
been since the Central railroad hearing
here in June it is hardly probable that
the road will be sold in early February in
accordance with the decree of Justice
jackson as it stands at present.
AS the decree stands now, subject to
modification, of course, after the hearing
in Washington next Thursday, the road
is to be advertised on the first Tuesday in
December and sold sixty days afterward
But since Mr.. Frank H. Miller obtained a
new hearing for the Southwestern, and
other parties have come in and asked the
appointment of a co-receiver, there are a
number of petitions and motion to dispose
Of, and if they are not dispatched speed
lily, as was the case with the litigati ton
here, it would seem that the road is to
IGAldlu III bl6 HduuS Oh J0S court IOf
some time yet. In case such litigation on
the part of dissatisfied interests continue
to appear, it is hardly probable that
there can be any sale of the road at the
time specified.
THE MONEY MARKET MAY DELAY IT.
There are other causes which may
delay the sale of the road beyond the
time specified in Justice Jackson's decree.
The parties who have asked the appoint
ment of a co-receiver, set forth as one of
their reasons that the road is likely to
remain in the hands of a receiver for
long time yet, and this is one reason why
they say they want an assistant for Mr..
Conner appointed They intimate that
the strained condition of the money mar
ket will not, at the the present time, ad-
nit of the sale of the road for anything
like what it ought to bring under favora-
BILE circumstances. Conditions, it seems,
are not likely to improve enough by Feb
ruary to warrant any better results from
the sale of the road than would be
attained now,
WILL HAVE TO BE REoRGANIZED.
The property of course will have to be
reorganized when sold and the parties
who undertake reorganization will have
to be ready to put up large amount of
money, more than any of the men inthe
work can put up at the present time and
under the present condition of the money
market. Unless conditions change by the
time set for the sale of the road its sale
will probably have to be delayed either
for this reason or others, which can be
done by modification of Justice Jack
sons's decree.
A BARREN FIGHT.
"This movement to secure the appoint
ment of a co-receiver will prove barren
fight" said well-known attorney who
has been connected with the Central
railroad litigation, in speaking of the
matter yesterday.
"Justice jackson is thoroughly CONVEX
SAINT with the Centra's situation now,
and the result of similar attempt before
him, when the hearing was going on here.
is well remembered. In spite of
the fact that Mr. Calhoun tried to attack
Mr. Corners administration at every con-
ceivable point it was mistaken when it
came to the test in the court of equity.
1t will meet with the same result when 1t
comes up before Justice Jackson for
hearing in Washington l do not think
there is much doubt about the outcome
of that hearing"