The times. [volume] (Richmond, Va.) 1890-1903, 1893-04-06
NEW LOAN FOR THE CENTRAL.
The Creditors, II. Is. HoIiins Co., and the
Mercantile Trust Company.

AUGUSTA. GA, April 5-An agreement
was entertained into January 18th by
Judge SpeeF, OF the United States Dis
trict Court for the Southern district OF
Georgia, in behalf of the Central railroad,
providing for securing "A new loan Of six
hundred thousand dollars from the Mer-
camille Trust Company, OF New York,
trustee. and II. Il. HOllins Il Co, and for
confirming previous loans from H0llins q
CO.. Of three million eight hundred and
eightv-nine thousand two hundred and
six dollars and eighty-four cents, and
from the Mercantile Trust Company, OF
New York, for seven hundred and hve
thousand dollars and sixty-three cents.
the three loans aggregating five million
one hundred and ninety-four thousand Two
hundred and siXty-nine dollars. Holllns
a. Co, are to control all securities de-
posted with the reorganization commit
tee The Central railroad pledges every
thing it owns, stocks, bonds. land and
leases, 10 secure the payment OF these
loans from Hollns & Co., and the Mer-
cantilJ Company. The securities de-
posted under the plan OF reorganization
are made liable for all charges incurred
to be passed upon by the court.
A loan was made October Z, 1882. pay
I'm promoting reorganizing, said charges
able. with interest and commissions July
|. 1893. for the sum Of So, $50 300 by Hoiiihs
& Co. as agents and managers OF a syn
dlcate OF lenders under an order OF the
u. s. Circuit Court for the Eastern
division Of the Southern district or Geor-
gia for the purpose of taking up ana
satisfying loan known as the speyer
loan. A loan was also made by the Mer-
camille Trust Company, OF New York,
TO the railroad company under an order
granted December 10, 1892 for S0S 06J,
PAYABLE with interest ana commissions.
July 1893 The last loan was made
pursuant 10 An order OF the court or jan
uary 10, 1893, confirmed by subsequent
order Of the court Of January %. 1893,
which Is for $500 ,0o0, The agreement
approved by the court rectes that 1t Is
made between the receiver. the Mercan-
tile COMPANY OF New York as trustee,
and Honlns & Co. as joint agents and
attorneys for the syndicate This pro-
vides that the Trust Company shall have
the right at any time before July |, 1891.
10 purchase any or all OF the matured
or unmatured claims Of any asserting or
non-assenting creditor and such pur-
chase or repayment OF such loans shall
not operate to eXtinguish the same by
payee or purchaser thereof, and shall
be SunrOsateu 10 the TlEHts ol sVSh as
senting creditor thus paid.
This agreement provides that .he trus-
tee accepts the trusts IN areuader and
agrees TO perform the same, but shall
not be responsible for anything except
its own wiiful default Of misconduct, and
shall receive fair compensation for all
services rendered by it, 10 be paid by the
receiver, and 10 be a first lien upon the
proceeds Of the property therein convey
ed. The receiver agrees that out OF the
money loaned hereunder he will cause
10 he paid without unreasonable delay
500 10 the syndicate represented by
Hollins & Co, who made the loan OF
50, $50. .206.s4 on October 7, 1892, said slS. 500
having been paid by the syndicate TO
Speyer 4 Co. for expenses incurred by
the latter.
That II for any reason any OF the
properties, assets and franchises Of the
railroad company or any Of its allied
properties should before July !. 1898. he
deereed 10 be sold py any court under
any lien now existing thereon or hereafter
10 he created thereon, then Ia that event
The loan herein agreed TO be made, and
said loan of s.. $50. 2o6.si and said loan Of
s7eS OS3. together with interest upon all
of said loans and commissions attached
thereto. respectively, shall at the option
Of the parties. each and all or them.
hacome due and payable at once upon
the rendering Of such decree, The agree.
ment closes with this statement In all
matters hereunder, In which the syndicate