The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-06-01
TO PRESENT SOLID FRONT.
The DebGntuTe Holders Organized and
Ready for Business.


/ Advantage by United Aotion-over
Million Dollars Face Value of the
Certificates Represented.
The holders Of the certificates of in
debtedness of the Central railroad who
have signed the agreement prepared for
the purpose of taking steps to protect
that security, held a meeting in the long
room at the city exchange yesterday at
noon.
The following holders of debentures
We're present. Capt. Thomas Screven,
Col. William Rogers, Judge William d.
Harden, Col. j. Il. NJ. Clinch, Gen. A. r.
Lawton, Capt Henry Blum, Capt. John
Flannery, Messrs. E. s. Elliott, r. M.
Demere, Henry B. Talmadge, George w.
Allen, Smith, L. T. Turner, J. w. Hunt,
Malcolm Maclean, A. Minis, J. J. Wilder,
Jacob Rauers, Solomon Sheftall, Robert
Sissons, L. Vogel, William Davidson.
George p. Walker, George T. Cam, Will
lam Williamson, w. w. Chisholm, Cor
don Guerard, Patrick Powers, Clement
Saussy, w. S. Chisholm, w. L. Clay, M.
j. Barrett and William Harden.
The meeting was called to order by Mr..
Jacob Rauers, chairman of the committee,
and Gen. A. r. Lawton was nominated as
chairman of the meeting, and uuani-
mously elected. MIR. John Nicolson, Jr.,
was unanimously elected secretary.
Gen. LawtOn expressed his appreciation
of the honor, and stated the object of the
| meeting as being to determine what ac-
, ton the holders of Central railroad GER
tificates Of Indebtedness should take with
regard to protecting their securities.
MORE THAN MILLION SIGNED.
Mr. Rauers stated that more than
81 900, 900 face value of the certificates
had been signed. Mr.. Wilder moved the
appointment of a committee on proxies,
/ but MIR. Denmark didn't see any need for
such a committee as he said each man
could state what he represented, and he
didn't believe anyone would sign without
having the authority to do so. Mr.. Minis
thought, in view Of the fact that perma-
neut organization was to be effected, a
| committee should be appointed to de-
| termine just who was entitled to partici-
pate in that organization.
Capt. Flannery moved that the secre-
| tary call the names and each man re-
spoud calling the amount of debentures
he represented by proxy or in person.
Mr.. Wilder then Withdrew his motion,
and Capt. Flannery's motion was carried.
The names were called and the amounts
taken down. Many of those present, how
ever, had given their proxies to the
committee.
Judge Harden stated he understood the
| committee had something like $500, 600 in
proxies which was in itself a quorum, as
there was only little more than 81 100,-
600. This was affirmed by Mr.. Rauers
| Mr.. Nicolson said his list was an incom-
plete one. He stated, however, that
/ Messrs Rauers, Wilder and Demere of
/ the committee represented by proxies and
signatures to the agreement 1896, 800.
| This was a great deal over a quorum and
it was decided to proceed to business
taking viva voce votes unless a di vision
was called.
Secretary Nicolson announced that he
had reported on his list 81, 140,S00.
THE COMMITTEE DISCHARGED.
Mr.. Rauers said that the committee had
now discharged its functions so far as
/ making effective the agreement was con-
| cerned. He moved then that the COM
| mittee be discharged. The committee was
! given its discharge.
MIR. George j. Mills moved that a COM
mittee of three be appointed to retire and
/ name a committee of five to act as truS-
tees of the holders of certificates of in
! debtedness of the Central railroad This
motion was unanimously carried, and
! Gen. Lawton appointed Messrs. George
j. Mills, B. A. Denmark and Col. John
Screven. Mr.. Jacob Rauers was first APP
pointed as one of the committee, but he
thought as he had been member of the
committee which prepared the agree
ment some other gentleman should be
asked to serve. Mr. b. A. Denmark was
then appointed in his place.
While the committee was out. Capt.
Blum stated that the first committee
which had prepared the agreement had
incurred an expense of $50. %. He moved
that the new committee to be appoint ted
be authorized to pay the expenses which
We're incurred. The motion was unani-
mOusly carried.
Judge Harden very appropriately moved
that vote of thanks be rendered the
committee. The motion was heartily
rendered and was received with express
slons Of appreciation by Chairman Rauers.
TRUSTEES OF THE DEBENTuRE HOLDERS.
Mr. Mills presented the list prepared
| by the committee to the chairman. The
committees report named as trustees for
the debenture holders, Messrs. John
! Elannery, Jacob Rauers, w. D. Harden
H =. Talmadge, of New York, and NAL
colin Maclean. MIR. Rauers stated that
he positively could not serve and asked to
! be relieved. His request was granted
and Col. Screveu stated that by author
itY of the committee he substituted the
name of Mr.. II. M. Demere Tor that of
MIR. Rauers or any member who declined
TO serve. Mr.. Demere's name was then
substituted and the report was unani-
mously adopted.
On motion, power was given the com
mittee to fill any vacancy among It's mem
bership that might occur from any cause
after which the meeting adjourned.
A meeting of this permanent committee
was held for organization. Just after the
adjournment of the meeting of the certih-
cate holders. The committee has out
lined no plan Of action as yet, however,
but will probably do SO within the next
few days, as reorganization will probably
be well under way as soon as the South
western question rs decided One of the
committee said yesterday:
probably the first thing we will do is
TO get other holders Of debentures inter
/ ested in this movement so that when we
are ready 10 act we eau present solid
front. What we have got to 90 is to ind
out the situation as 1t exists among those
who have the matter Of reorganization in
hand, let them know we are well organ
| lied and Just where we stand The power
/ given TO the committee is well known to
/ every one who is familiar with the agree
ment. The committee, however, will be
! conservative, and it is hoped will be able
TO get other junior security holders to act
! in consonance ana accord with u.s.