The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-02-25
ALL DOUBT PASSED.
The Tybee Railroad TO be Rebuilt By
the First Of May.

The BondhoIders and All Interested
Accept a Proposition 20 Rebuild the
Road for the Certifoates.-JUsti
Jackson's Consent Now the Only
Thing in the Way Of Carrying Out
the Contract.-Little Doubt that 1t
viii be Given.-Mayor McDonough
Understood to be the Contractor.
There is now no, qestion about the i'm
mediate rebuilding of the railroad to Ty-
bee Island in time for the opening of the
season at the seaside.
The bondholders of the road met at the
National Bank Of Savannah yesterday to
consider a proposition to rebuild the road
for $4,000, the amount to be taken in
receivers certificates on the property
This proposition was made to Receiver
Conner by some gentleman interested sew
eral days ago, and after considering
it he finally agreed to indorse it.
Mr.. Conner was present at the
meeting.
The bonds were well represented at the
meeting. The holders of and proxies for
S193,0O0 out of the $3.50, 600 were there. OF
the s57, ZOO which were not represented,
$500 are held in New York city.
THE PROPOSITION ACCEPTED.
Mr.. Conner spoke strongly in favor of
the proposition at the meeting Mr.. Her
man Myers also heartily Endorsed it. He
stated that the committee appointed to
solicit subscriptions to the receivers GER
tifcates had not met with success in
their work, and the only thing left to do
was to accept the proposition before the
meeting.
resolution indorsing and carrying
out the plan was offered and unanimously
agreed to by all the bonds represented.
This plan does away with the subscrip-
ton idea, which was started at a recent
meeting, and the $4,000 then subscribed
rubbed off the slate. This idea might
have been carried out, had it not been APP
parent from the start that outside of the
bondholders there were few who would
subscribe to any purchases of the certi-
ficates. The bondholders started the
subscriptions very well, but il was
one Of those kind of subscriptions which
do not hold out. The people generally
thought the bondholders ought to rebuild
the road, and the bondholders thought
the Central railroad should do so. That
being the situation, at time too when
very few can spare any money for such
project, it was hard matter TO come to
any conclusion.
THE WORK TO BEGIN AT ONCE.
Ali that is necessary now to begin the
work of restoring the road is the consent
of the court to allow the bid to be &C
cepted. The fact that it is necessary to
obtain the consent of the court arises be-
cause the cash bids for the work were so
much lower, being in the neighborhood of
$32, 900 or $50, 600
Receiver Conner leaves this morning for
St. Petersburg, Fla, where he goes TO see
Justice jackson on several matters in
connection with the Central railroad,
among which will be the matter of &C
cepting this proposition. Justice Jackson
IS in Florida for his health. There is
little doubt that the court will agree to
the plan when it is shown that there is no
other chance for the property to be re-
built, and, further, that ell parties inter
ested have agreed TO it.
MAYOR M'DoNoUeH INTERESTED.
It is underst God that Hon. ]. J. McDon-
ough, representing syndicate of holders
of the bonds Of the railroad company, Is
the contractor. While this is the case
Mr.. r. w. Dobson of this city will have
charge Of the work of rebuilding the
road. Mr.. McDonough has all the neces-
sary appliances for doing the work at
his command The work will be done &C
oording to the plans and specifications
submitted by the engineering department
OF the Central railroad
This leaves no doubt that the road will
soon be rebuilt In fact, there is little
doubt that 1t will be ready for the sum
mer travel by May l, if not before.