The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-02-03
TO CARRY OUT THE PLAN.
THE OENTRAEs SECURITIES TO BE
CALLED IN NEXT WEEK.

The Mercantile Trust Company TO Re-
ceive Them in New York and the
Southern Bank to be the Depository
Here-Recsiver Conner Decides to Pay
the South Carolina Taxes-A Big
Fight to be Made for the Port Royal
and Augusta.
The Mercantile Trust Company will be
ready to receive deposits Of the Central
railroad securities for the purposes OF re-
organization next Wednesday, Feb. g. The
announcement has been made in the New
York newspapers and was confirmed yea
terday In Savannah. The official sdver-
tisement making this announcement will
appear 10 the MORNING NEWS tomorrow
morning.
Securities will be received and certificates
Of deposit issued by the Mercantile Trust
Company of New York and the Southern
Bank of the State of Georgia at Savannah.
The indications are that the deposits Of
securities will be very heavy from the be-
ginning. The holders Of stocks and securi-
ties in Savannah seem to be generally agreed
that the plan offers the fairest terms TO all
concerned that could have been secured, and
that it will be to their interests to further
the plan.
The probability is that the majority of
the securities in this section will be depos-
tied by the end Of February. The reorgani-
zation will proceed as soon as a sufficient
deposit of securities has been made.
TO PAY THE SOUTH CAROLINA TAXES.
Receiver Conner has decided to pay the
state and county taxes due on the Port
Royal and Western Carolina railroad in
South Carolina. The road will also pay the
extra penalty provided by law for the de-
fault upon taxes when due. The
attorneys of the receiver have
advised that this is the best course to pursue
to prevent any further complications on
account OF the Instructions of Gov. Tillman
to the sheriffs of the counties along the line
Of the road TO levy upon the trains and hold
them for taxes. The trains which were
held up along the Port Royal and Western
Carolina by the sheriffs in accordance with
Gov. Tillman's instructions have all been
released.
The Centrars attorneys will go 20 Aiken
Saturday to appear before Judge Aldrich
of the South Ceroliua circuit court in the
hearing of the bill of complaint against the
Central and the Port Royal and Augusta
railroads TO wrest the latter road from the
control Of the Central. The probability is
that the hearing will be adjourned to
Charleston, where Judge Aldrich will hear
argument by the attorneys on both sides.
TO AWAIT CAROLINA'S ACTION.
The same bill in Georgia is set for q
hearing before Judge Roney of the superior
court at Augusta on Feb. IL, but will
probably be postponed to await the result
OF the hearing before Judge Aldrioh at
Charleston.
There are two separate cases on the Same
| complaint, one bill being brought by the
| attorney general of South Carolina and
| the other by Henry B. King of Augusta
| and others. 1t is practically the same case,
however.
The legal battle will be hard fought and
| probably of long duration.
The Central will be reDresented by Law
| ton q Cunningham and Denmark & Adams
| Of Savannah, Maj. Joseph Ganshl Of Au-
gusa, and probably other counsel
| The oomDlainants will be represented by
| Attorney General Townsend Of South Caro-
lima, Smytne & Lee of Charleston, A. G.
King OF Atlanta, w. J. Verdier of Beau
fort and probably others.
The United States court will be called
| upon to pass upon the question of jurisdic-
| ton and the rights of the receiver ap-
pointed by the state court.