The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-08-31
DON'T WANT A RECEIVER.
Electric Railway Directors COnfeTTing
About the Petition.

President Collins Says That He VIII
Show the Suit Has No Standing in
Oourt-mr Wrenne of Nashville
Here-Director Paulsen's Resigna-
tion Causes Something Of a Stir-It
Has Not Been Acted Upon Yet.
The petition for a receiver for the Elec-
FIic railway, which will be heard by
Judge Falligant in the superior courtat
1O O'CLOCK tomorrow morning, hascreated
a good deal Of interest.
The public is eDtire4y<fn the dark as to
what is likely to be the result, or as to
what moves will be made by the parties
to the suit. There are all sorts Of re-
ports as 20 the differences among the di-
rectors of the Electric Railway Company
and the financial condition of the concern.
There are many who believe that the
bondholders, who are also directors, are
willing for the appointment of a receiver,
provided they are allowed to name him.
BY this means it is thought they would
be able TO settle their differences and
proceed to a reorganization Of the prop
erty.
Mr.. PAULsEN's WITHDRAWAL.
The announcement of the withdrawal Of
Mr. Jacob Paulsen from the directory
created some talk yesterday. President
Collins when seen by MORNING News
reporter, said that it was true that MIR.
Paulsen had written letter Of resigna-
ton, but that it had not yet been acted
upon by the directors and might be with
drawn Mr.. Collins said if necessary
he would show in the court tomorrow
that the Electric Railway Company is an
entirely solvent concern, and that 1t has
been earning more money than its eX-
penses right along in spite of the bitter
war which has been waged against il.
1--WE propose to show" said Mr.. Col
Inns, That the suit has no standing in
court whatever, and that the charges
are utterly without foundation. We may
make it very interesting for some of the
parties to the suit, too
The filing of the petition for a receiver
had the effect of bringing the Electric
railway directors, who were out of the
city, home in hurry. Director Hicks,
who was spending his vacation in Tonnes
see. arrived home night before last, and
Director Logan, who was in. Chicago
arrived yesterday morning.
MR.. wRENNE IN TOWN
Mr.. Thomas w. Wrenne, one of the
Nashville directors, arrived in the city
last night. A MORNING News reporter
had talk with him at the De Soto. Mr.
Wrenne had very little to say, however
He said he had not had time to inform
himself of the circumstances of the case,
and not having had time to confer with
the Savannah directors, was not posted
and had no idea as to what steps would
be taken. He expressed confidence as TO
the result of the suit in favor of the Elec-
trio railway.
The monthly reports of the earnings
of the company" said Mir. Wrenne,
"show that it has made money right
along, and considering that it had l cent
fares to compete with | think this is, a
wonderful showing
MIR. Wrenne was uon-committal as to
the differences said to exist between the
belt line and the Electric railway bond
holders Several of the Savannah direct
ors called upon Mr., Wrenne at the De
Soto, and conferred with him. A meet
ing of the directors will probably be held
TODAY