The morning news., 1893-06-27
TIE Central 5 FIGHT ON.
The Road Held Liable for Its
Endorsement on Bonds.
PROBABILITY OF An EARLY SALE.

Brief Argument-The Court An
nounces Its Determination to Sci
the Property to the Best Advantag,
of All Concerned if It Sees Fit t,
Order a Sale-The Foreclosure Sui
Next in Order, but the Southwest
ern's Endorsement on the Tripartit,
Mortgage to be Considered First.
The fight on the Central railroad began
in the United States circuit court yester
day mornin%in earnest.
There was much speculation beforehand
as to what would be the order of the pro
Ceedings, but when 10 o'clock came and
Justice jackson and Judge Speer took the
bench hatquestion was very soon settled
as indeed was every other that was
brought up before the justice. When the
proceedings in Atlanta adjourned the
Alexander Brown bill was under discus.
sion, and yesterday morning the first
question taken up was that of the validi-
ty of the Centrars Endorsement on the
bonds of the Macon and n orthern, the
Chattanooga, Rome and Columbus, and
Savannah and Western railroads, which
forms a portion of the subject matter OF
that bill
Throughout tee argument Justice jack
son intimated what his decision would
be. and there was no surprise when he
decided that the Central should be held
liable for them
AS TO the sale of the road, too, Justice
jackson intimated what the action of the
court would be- He practically stated
that it was the intention of the court to
have the road sold in the manner in which
it will bring the largest amount and be
of the greatest advantage TO all the cred
itors of the property.
THE COURT oONvENEs.
Arrangements were made within the
railing of the court room for seating 100
or more and chairs were placed outside
the railing. AT 8 o'clock or before Mar
shall Frank Leverett and his force Of dep
mites from Macon were on hand and half
an hour later the attorneys began to
gather
Judge Henry B. Tompkins and Mr. A.
h. Joliue, counsel for the Central Trust
Company, of New York, were the first on
hand Mr.. Marion Erwin. representing
Mrs. ROwena Clarke was also earlyon the
scene. His figure appears very familiar
around the court, though he appears now
in a different capacity from what
he did several months ago
Mr.. Pat Calhoun, ex-senator NJ. G. But
Ter of South Carolina, and Mr.. Leopard
Wallach of New York, counsel for Alex
ander Brown 81 Sons and Simon Borg q
Co, of New York, came in few minutes
later and secured seats near the judges
bench.
Associated with Garrard, Meldrim &
Newman were A. F, Stone, Esq, and j.
M. Kratinge, ESD. of New York, repre-
sentlng the reorganization committee; II.
J. Bowdene, Esq, of Baltimore, was
there representing Alexander Brown 81
Sons, and Mr. Julian l. Davies of New
York representing the tripartite mort
gage bondholders. Maj James Ganahl,
of Augusta, was looking after the inter-
ests of the Port Royal and Augusta, and
Mr. Louis +. Garrard represented the
first mortgage bOndholders of the Mobile
and Girard. Mr. Clifford Anderson was
on hand in behalf of the EatOnton branch
and Messrs. John Peabody and j. H.
Martin, of Columbus, were on hand for
the Mobile and Girard Railroad,
ALL on HAND EARLY.
Mr.. Frank H. Miller of Augusta and
Hon. A. 0. Bacon Of Macon, representing
the Augusta * Savannah and the South
western railroads were on hand sometime
before court convened, and within a few
moments the counsel for the Richmond
Terminal company came. Among these
are Capt Henry Jackson of Atlanta, Mr.
Henry Crawford Of New York and Charl-
ton MackaH and Anderson of this city,
The attorneys for the Central took up al
most whole table, Around it were Mes
srS. Lawton n Cunningham. Denmark x
Adams, Col. n, j. Hammond, of Atlanta
Receiver H. M. Conner, Gen A. r. Iau-
ton and a number of others. Among
other attorneys interested in the proceed
mgs We're Col. Geo. A. Mercer and Mr.
Robt. b. Turner, of New York, counsel
for the Farmers Loan and Trust Co, of
that city, Harden West, and. McIaws for
Jno. S. Tilney, Mr. r. w Pat
terson and Mr.. Daniel Rountree
tree representing the original complain
ant, and Garrard Meldrim s, Newman
counsel for the reorganization committee.
Among interested spectators were Judge
Howard, VanEpps, of Atlanta, Capt.
Evan p, Howell, Mr.. Geo. J. Mills, Mr..
Urlah b. Harold, NJ. Jr. H. Hull Cen
traI railroad directors, Hon.
Rufus E. Lester, VIM. S. I'm
s9aw; T. +; RaYenel, Geo w. Owens,
MAI. w. +. Shellman and many others.
The court room was crowded to its ut
most capacity and standing room outside
the railing was AT a premium Thus the
court found itself surrounded by interest
ed parties and spectators on all sides
when II convened.
MIR. ERWIN OPENS.
Justice jackson did not wait for prelim-
inaries. His first words were spoken
while the clock was still on the stroke of
ten.
Gentlemen" >" he said, ''haye YOU ar
ranged as to the order in which YOU viii
present these matters2"
No, sir, said Mr. Calhoun.
Are you ready" asked Justice Jack
son, ito discuss the validity of the en-
dorsement of the Central on the Macon
and Northern bonds3'
Yes, may it please your honor.u re-
Piled Mr.. Calhoun.
We have a demurrer to that plea. - an
nounced Mr.. Marion Erwin, "and this
viii dispose Of a good many of the cues
tions in regard to the matter -
MIR. Erwin then began an argument
on the demurrer to the bill of Brown ,&
Sons. He spoke of the bill as attacking
some OF the rights of his clients. Mrs.
Rowena Clarke and others. The com
plants come In, he said, on several diff
Ierent rights OF equity, as holders of Ma
con and Northern bonds, Central Railroad
and Central bonds and as holders of de-
beutureS.
is the liability of the dehentures ques-
uonedi asked Justice jackson.
Mr.. Erwin replied that it was not. but
that the defendants the Central railroad
Claimed that they were not due.
The court announced that the question
then for Mr.. Erwin TO be heard on was
concerning the validity of the .indoYse.