The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-05-13
DIR. CONFER APPOINTED.
He is Now Temporary Receiver Of the
P. R. and IT. c.

He is President of the Road and Was
Permanent Receiver, but Was Or
dered to Turn the Road Over TO
Himself as Temporary Receiver.
The Order Passed by Judge Speer
Under a Petition From the Central
Trust Company-The Appointing emit
Subordinated to the Orders Which
Judge Simonton May Make.
MIR. H. Nj. Conner was by order of Judge
Speer yesterday appointed temporary re-
ceiver of the Port Royal and Western
Carolina Railway Company, and was
placed in the peculiar position of be-
ing required by the order as president of
the road and as permanent receiver, it
being part Of the Central system, to
turn the property over to himself as tenn
porary receiver.
On May 10 a general foreclosure bill
was filed in the United States court by
the Central Trust Company, represented
by Judge Henry B. Tompkins, against the
Port Royal and Western Carolina
The Central Trust Company is
acting as trustee for the
holders of the first mortgage bonds and
this bill suggested the appointment of
Mr.. Conner as receiver. Judge Speer's de-
clslOn could only affect the portion of the
road in Georgia, but similar bill has
been filed before Judge SimOnton in
charleston, also suggesting the appoint
ment OF MIR. Conner as receiver.
THE ORDER PASSED.
Upon this petition from the Central
Trust Company Judge Speer yesterday
passed an order appointing Mr.. Conner
temporary receiver Of the property.
The order calls attention to the fact
that the Central Trust Company brought
this bill at the request of the bondholders
and also Mr.. Conner, who is both presi-
dent and receiver, for the purpose of fore
closing the mortgage to secure said
bonds
The order states that as it is now ad-
vised that this course is necessary to pro-
tect the Centrals stock and bonds in
this property, the action of Mr.. Conner is
ratified and confirmed so far as is neces-
sary.
Mr.. CONFER TO SUCCEED HIMSELF.
at further appearing that the custody
of the receiver of this court is otherwise
Threatened in different Jurisdictions, it is
ordered and decreed that H. M Conner
be and he is hereby appointed temporary
receiver under this bill, and is directed as
the receiver Of this court under the bill of
Rowena M. Clarke VS.. the Central Rail
road and Banking Company and the
dependent bill of the Central
railroad VS.. the Farmers Loan and Trust
Company to turn over and surrender the
property of the said Port Royal and West
ern Carolina Railway Company to himself
as receiver under this bill"
In consideration of the fact that Judge
Simonton also has this matter under con
sideration Judge Speer ordered that this
appointment be subordinated to such order
or appointment as it may seem proper to
Judge Simonton to make 1t is also Or
dered that any party to this bill may have
leave to show cause why this order should
not be vacated
THIS ACTION PROTECTIVE.
This action is designed to protect the
property from some of the minority bond
holders who have designs upon it. It will
probably do away with the suits for an
independent receiver, which have been
brought by the Centra's opponents.
In speaking of the threats of the other
faction to test in the courts the right of
the Central to vote its majority stock in
stockholders meetings, Mr.. Conner said:
"Barkis is willing. The holding of that
stock has no tendency to defeat compe-
tition and l know of no law which will
disfranchise it,