The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-04-27
DECIDED AGAINST THE PLAN
Augusta and Savannah Stockholders
Refuse TO Enter Reorganization.


/ Gen Jackson's Vote Settled the Course
of the Stockholders Meeting-only
/ 5,721 Shares Out Of 1929 Repre-
/ sented- The Georgia Historical So
/ ciety Voted the l 900 Shares Of the
/ Telfair Academy Against the Plan.
Mr.. Conner Held the Proxy for the
Mercantile Trust Company.
The stockholders of the Augusta and
Savannah railroad held a meeting yester
day at the banking house Of Hun & La
throp and decided not to enter the road
in the reorganization plan.
There We're only &, 72l shares represented
out Of 10, 300 being but a little over ma
jority of the entire amount of stock. OF
this amount 1921 shares were voted
against entering the reorganization plan
and >, 4S4 in favor of it.
Augusta stockholders were represented
by Mr.. Frank II. Miller of that city.
while Col. w. w. Thomas of Athens held
a few proxies for stockholders
of that place. Including the
board of eleven curators Of the
Georgia Historical Society who repre-
s'SlJtb ttlt l,bpO oildIto ONutNl DA lIle / ell
fair Academy of Arts and Sciences about
twenty-five were present at the meet
ing.
GEN. JACKsoN's VOTE DECIDES IT.
Gen. Henry r. jackson, it was stated,
cast the vote that really decided the
course that the stockholders pursued He
was chairman of the board of curatOrs of
the Georgia Historical Society, and that
board preferred not to vote the ], 600
shares they represented until it was seen
that their vote would be necessary in or
der to reach decision The board of
curatOrS retired to consider the matter
and the vote stood five in favor of
reorganization and five opposed Gen
jackson S vote as chairman decided the
vote as against entering the reOrganiZa-
ton, and the ! 200 shares were voted that
way
THOSE FAVORING REORGANIZATION.
It was also learned that the only shares
and proxies for shares voted in favor of
the plan were those of DR.. w. S. Law
ton president of the road who presided
at the meeting proxies held by Mr. T. M.
Cunningham for outside parties. and
proxies for 1913 shares which have been
deposited with the Mercantile Trust
Company, which were held by Mr. II. NJ.
Conner. The people in Augusta and
Athens, who hold stock in the road.
1t is learned, are opposed to entering the
road INTO the reorganization plan, though
for what exact reasons could not be aScer-
tanned.
WANT TO CONTINUE THE LEASE.
Their idea is that the Central will have
to be recognized, and they desire to hold
the road out until after that rehabilita-
ton IS completed and then to continue it
as at present under the lease to the Cen
trdl system. What the outcome will be
remains to be seen when the rCorganiza-
ton OF the property is undertaken
The only other business transacted at
the meeting was the passage of a resolu-
ton asserting the rights of the road I'M
der the lease to the Central and demand
ing that the contract be adhered to-
MR.. CONFER TALKS.
MIR, Conner said yesterday afternoon that
the action of the Augusta and Savannah
stockholders would have no effect what
ever on the plan of reorganization of the
system. He said those of the stock
holders who desire to do so
can deposit their securities with the
Mercantile Trust Company for the pur-
pose of entering the plan So far 1913
shares have been transferred
1t seems, however, that the ultimate
course of the road will depend on the
question as to whether majority of the
stockholders deposit their securities. or
whether the committee can otherwise
obtain possession of the road for the pur-
pose of reorganization. The meeting at
most was small one, and there is no tell
ing what course the other 5000 shares
that were not represented may pursue