The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-01-01
IT MAY Be GEN. LAWTON.
Probability That He Will Succeed
President ". S. LaWtOn.

! Inc annual meeting OF Lne AUGUSTA
and Savannah Stockholders To-day.
Mr.. Frank n. Miller Talks Interest
inRly on the Situation-He Doesn't
Think the Road Will Want to With
draw From the Central-What He
Has to Say About the Southw estern
Resolution-A Motion to Secure the
Past Due Interest on the Tripartite
! Bonds 49, The Southwestern Wants
the Supersedeas Bond Reduced.
Mr.. Frank II. Miller, Of Augusta, at
torney for the Augusta and Savannah
and the Southwestern railroads, is at the
! De Soto. Mr.. Miller came down from
/ Augusta last night to be present at the
annual meeting Of the stockholders and
the election of directors, which will be
held to-day at the office of Hull 81
Lathrop.
81 know very little about the situa-
ton" he said last night, when met by a
representative Of the MORNING NEWS, las
1 have had little opportunity to learn
what may or may not be done, except
through the newspapers"
'Have you any idea as to who will be
elected president of the road}" Mr.. Miller
was asked.
'No, l know nothing definite" was the
| reply, land | am not aware who will be a
/ candidate for membership in the direc-
tory to fill the place made vacant by the
| death of DIR. Dawton."
Il saw personal letter, however, from
an out-of-town director a day or two ago,
| in which it was suggested that it would
| be eminentlY proper and fitting to elect
I Il L ~
| as Gen. LawtOn was the first president of
the road, and took deep interest in it
| from the start. 1t was Gen. Lawton's
| pride, when the road was completed, to be
| able to say that it didn't owe dollar.
! Gen. Lawton's interest in the welfare of
the property would, no doubt, make it
| pleasant for him to succeed to the presi-
dency."
! NOTHING BUT ROUTINE MATTERS.
'Do you think the vote will be large
| onel" was asked.
Il have had no information that any
thing other than the routine business of
| electing board of directors will come up,
and for this reason am of the opinion
that the vote will be a small one, said
Mr.. Miller II don't think any question
as to the road desiring to withdraw from
! the Central will come up for discussion.
| The stockholders have decided to leave
the road in Mr.. Comer's hands with the
| Central system, and l think it is their in
| tention and wish that the receiver shall
be given a full and fair opportunity to do
| what he can with the operation of the
| property. | am not aware that anything
but routine matters will come up, though,
of course, this is regular meeting and
anything allowed under the charter could
be acted on"
Mr.. Miller said in answer to a question
| that, though the vote would probably be
small, he thought whoever received the
| majority of the votes cast would be
elected president, no matter how small
the total vote might be. He said there
was provision in the chaFter of the road
| which restricted any one stock holder to
voting more than 100 votes, though he did
not think it had ever been invoked. In
case it should, 1t would operate against
| the holdings of the Georgia Historical
Society, which amount to 1000 shares,
DOESN'T THINK THERE IS ANY ROW.
Mr.. Miller, who is also attorney for the
Southwestern railroad, was asked what
was the meaning of the resolution passed
at the recent meeting of the directors.
II know very little about it except
what have read in the papers," he said,
| II was unable to be present at the meet
ingt l know of no differences between
Receiver Conner, and Capt. Raoul
and l am inclined to to think that what
Capt. Raoul has said about the
matter is correct. The resolu-
ton simply declared the policy, which in
the opinion of the board, should be pur-
sued.
$50 far as the resolution is concerned I
surmise that it was passed in pursuance
of the resolution which was passed at the
meeting of the board in September which
| authorized an incumbrance to be placed
on the property to protect the sureties
on the supersedeas bond which the road
will be required to give when the ques-
tion of its liability on the tripartite bonds
is appealed. / think it is the desire of
the directors to put a certain number of
bonds secured by lien on the road in the
hands of the sureties, who may go on the
supersedeas bond in order to idemnify
them against loss.
THEY WANT A SMALLER BOND.
"Justice jackson has fixed the amount
of the supersedeas bond at $4,000, 900, but
| he will be asked to reconsider when the
appeal is made after the decree is signed,
Jan. 4, and believe, upon what may be
submitted to the court at that time, he
will make the bond much less. Whether
he does pr not, however, the Southwest
ern Will have to put up enough security
to protect the Sureties.
''Who will be the sureties on
the supersedeas bond to be given
| by the Southwestern" was asked
"When Justice jackson appointed Mr.
Hayes co-receiver," said Mr.. Miller lit
was suggested to him, and he approved of
the suggestion, that two surety COM
panies of New York be made sureties for
the Southwestern. If the Southwestern
cannot arrange with certain individual
stockholders, who are largely interested
in the company, to become sureties, they
will in all probability appoint two such
surety companies, as in the opinion of the
court, will be accepted in lieu of personal
security"
A MOTION TO PAY THE TRIPARTITE INTEREST.
Mr.. Miller will be in Washington
Jan. when the final decree of foreclosure
will be signed. Among other things that
are to come up is motion OF the receiver
to be authorized TO expend a certain
amount in the purchase of rails which
are to be laid on the Southwestern rail-
road.
One of the most important matters
which will come up for the considera tion
of the court will be motion by the
Farmers Loan and Trust Company to
have the money in the hands of the re-
ceivers applied to the payment of the
past due interest on the tripartite bonds.
Two semi-annual installments of interest
are now due on these bonds. 1t is prob