The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-03-15
NOT GETTING AFFAIR SHOW.
A Plan Said TO Be Forming Uuiay0r-
able to DebentuTe Holders.

: scented at Yesterdays Meeting
/ Agreement Adopted to Be Pre-
scented to the Holders of These secur-
ities-Messrs. Denmark and Elan
/ merry, Who Know Something About
the Situation, Say the Plan Now
Being Formed Is UnfavorabIe to the
Debentures.
Over one-fourth Of the entire issue Of
| the certificates of indebtedness Of the
Central railroad were represented at the
meeting held yesterday in the long room
of the city exchange.
Gen. A. r. Lawton was elected chair
man, and Mr.. John Nicolson, Jr., secre-
tary. Messrs. George J. Mills, w. W.
Williamson and j. Randolph Anderson
were appointed a committee on proxies.
After an examination by the committee,
1t was reported and announced by the
chair that 500, 400 face value Of the GER
tifcates were represented by proxy ard
1929, 200 by the personal holders, total
, Of 81, 232, 100. The total issue is 81 6OO, 600
Among those present at the meeting
were Gen. a. X. Lawton, Capt. D. G..
p urse, Judge VIM d. Harden, Col. VIM.
Rogers, Col. j. II. NJ. CHnch, Capt. John
Flannery Capt. John A. Davis, Of Albany,
/ Messrs. G. d. Baldwin, David A. Wells,
Randolph Arson, VIM. Harden, j. II. Hun
ter, A. Klmes, LtPutzel, b. A Denmark,
John NiCOlsoH, jr., w. w. Williamson, j.
/ h. Anderson, William KehOe, 7. p. Rave
nell, Geo. J. Mills, j. +. Minis, Jacob
Rauers, j. j. Wilder, j. II. Saussay, p. M.
[ Russell, II. NJ. Demere, j. b. Fernandez,
| William Duncan, j. j. Dale Geo. T..
/ Cam, NJ. Barrett, w. w. Chisholm,
| Capt. Henry Blum, tCol. w. w. Gordon,
/ Messrs. Armstrong, Ed II. Smith, John
/ Kuch Walker, Malcolm MacLean, w. j.
Harter, j. II. Quint, II. j, Thomasson,
/ Thomas Halligau, j. 5. West Robert Sis
| sons, L. Constantine, Estate ,Nutal, G..
/ a. j. Sweat, j. II. Herman, j. +. kolloch,
/ a. l.. Alexander, Kettles, @. W. Allen, A.
/ LETTER, NJ. NJ Sullivan, SOL Sneftall, Rob
/ ert Mcintyre, w NJ. Davidson, Jr., A. G..
/ Guerard =. II. Moller, p. Powers, p. l..
/ Peacock, +. Van Wagner, Capt. j. +.
Wheaton, l.. /. Turner, j. II. Husman, l..
/ Lippman, NJ. S. Rogers, A. Dougan, r. S.
/ Mckay, 7. T. Muir, j. M. Lang, and
/ James II. Hunter.
THE AGREEMENT DRAWN UP.
There was meeting of debenture hold
ers, at which S50d0O0 face value of the
/ certificates was represented. held March
] o. az W uiGll al d. ttCLlCuG W dS uLdNl II Au
/ to be presented TO this meeting. This
agreement was read by Chairman Jacob
/ Rauers of the committee appointed at the
/ former meeting. 1t provided that
! all the holders of the certificates
| should make common cause to obtain
the payment of the same; that they
| should agree to contribute each their pro
rata of the expense attached TO any action
that might have to be taken that in their
] effort n the Taa Of the
tihcates they would be governed by the
. action of a committee to be appointed by
/ a majority of those who signed the agree
/ ment; that anyone having signed the
/ agreement may withdraw on giving
proper notice and paying all assessments
| up to that time and waving the right TO de
mand damages; that the amount annexed
by each person signing shall be the true
| face value of the certificates held; that
the agreement should become operative
only after having been signed by the hold.
/ ers of 81 100000 face value of the certih.
Gates, and that as soon as that
amount of signatures had been
obtained, each was to be subject
to an assessment of one-tenth of / PEI
cent. or 10 cents on 500, and all assess
ments to be made were not to exceed in
the aggregate ono-hah of per cent. OF
so cents on 500, unless otherwise decided
by the holders signing the agreement
All were to be treated as signing one
and the same paper and all were to de
post their certificates with the commit
tee and get receipts in due form.
ADOPTED AND RECONSTRUCT.
On the suggestion of Mr.. Rauers, the
agreement, which was not to be Consid
cred binding, was adopted by a viva yoce
vote
Then long discussion of the matter
fDllpHvp1 Gnunrol Of those fbp19nbi
1t unwise to adopt such an agreement
without studying it more carefully anC
learning all that it contemplated
Something had to be done, however al
at present the holders of the debenture
are in the dark as to what is being don,
about reorganization. and they did -
know what fate was in store for then
under the plan that is being made up.
Capt. Flannery and Mr.. Denmark haC
received information about plan that i:
in progress, but it had been given them il
confidence and they were not at lbert,
TO state what was going on, They bott
said, however, that unless the holders o
the debentures acted promptly and tool
some steps 10 present their claims to TIN
reorganization parties they would b.
sorry for it, as they were not being givel
a very liberal showing.
Others wanted to wait and find gu
what plans were going 10 be suggested
for the debenture holders to act on Capt
John A. Davis, of Albany, thought a com
mittce representing all the junior securit,
holders would carry more weight with i
than one representing merely por lion o
the debentures. Others thought a com
mittee should be sent TO New York t.
find out what is in progress. This would
require the raising OF a fund.
Mr. Mccoy Introduced a resolution
providing for the appointment o a com
mittee of ten who should appoint a com
mlttee of five TO act for the holders of TIT
certificates. This resolution was los
and the action on the agreement present
ed by Mr. Rauers was reconsidered,
COL. GOKDoN's RESOLUTION.
Col w. w Gordon thought it impor
tant TO take some action in the matter a
once He introduced the following reso
luton which was adopted:
Resolved, That this meeting requests tn
committee under whose authority it wa
called TO have printed the "a- reement he
/ tween certain de euture holders Of the Cen
tral Railroad aud banking Company of Geor
/ FIa, and TO distribute ana submit said agree
/ meut TO uu the owners OF certificates Of in
/ ueD.e Ines, Of the Central railroad OF GeOrgii
for their signatures.
| Resolved. That when they make the re
/ quest the chairman of this meeting shall cal
another meeting of the owners OF said Ger
tiuNateS Of Indebtedness.
Resolved, nat at SAID called meeting tn,
! permanent committee contemplated in sec
ton 5-of this agreement shall lie elected 10,