The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-01-05
CENTRAL GIVEN TILL JULY.
II the TTipaTtiteS Are Not Paid it
Will Be Sold by Sept. /.

rbe Claim for the Payment Of $780,
200 bv the Savannah and Western
referred to George w. Owens for In
vsstieation and Report-The Road to
rvbee Ordered Rebuilt by Spring.
The Insurance on the City of Savan-
nah to go Into New Steamer.
washington, Jan. 4-In chambers this
rorning. Justice jackson, of the supreme
court of the United States, signed de-
crae of foreclosure and alternative order
of sale of the Georgia Central railroad
and the Southwestern Railroad of Georgia
under what are known as the $4,000
trinartite bonds. The decree was in ac-
cordance with the finding of Justice jack
son at Savannah last June. 1t is quite vol
luminous, but in brief directs sale of the
property within sixty days after July 1
next. unless before that date the default
on the bonds shall have been made good.
TO BE SOLD sEPARATELY.
If not then paid the commissioner is di-
racted 10 advertise not less than eight
weeks the sale of the road, and also of
tbe Southwestern road, but the South
western is permitted at any time up to
the time of the sale to pay its share of
the tripartite bonds and prevent the sale
of the Southwestern. The sale can
not possibly take place under these terms
before Sept. 1, and the probability
is that it will not occur before October or
November At the hearing this morning
the counsel for the Southwestern resisted
the right of the court to sell the South
western Jointly with the Central, and in
sisted that if sold at all it should be sold
separately. The original decree was then
so changed that the roads are to be sold
and not Jointly, unless the Central, when
sold, should fail to realize two-thirds of
the tripartite bonds AS two-thirds of
these bonds is only a little over S3,0O0,000,
the Central will bring more than that
amount, so there will be no joint sale of
the roads.
THE soUTHwEsTERN's APPEAL.
Leave was granted to the Southwestern
to take an appeal. This is to be perfected
hereafter, for which a supercedeas is to
be presented to the court The appeal
will be heard by the circuit court sitting
in New Orleans. 1t will be probably 60 or
80 days, however, before the case can be
brought before the circuit court.
The Southwestern's attorneys decided
not to apply to the court at this time for
the net earnings of the Southwestern, or
for the restoration of the road to the
company. 1t was thought best that the
appeal should be perfected before either
OF these applications is made.
THE CLAIM AGAINST THE 8. AND W.
Application was also made to-day to
Justice jackson TO order payment of SOL, :
900 to the receiver of the Georgia Cen tral
by the receiver of the Savannah and
Western, for advances claimed to have
been made by the former to the latter on
account of the operation of the Savannah
and Western. The stock of this CORPORA
ton IS owned by the Georgia Central, but
there is a separate receivership for the
property, and the claim OF the Georgia
Central receivers grows out of the rela-
tons of the two roads. The Justice of
this claim is denied by the Savannah and
Western people, and Justice Jackson re-
terred the whole matter to George w.
Owens, of Savannah, for investigation
and report.
THE TYBEE ROAD TO BE REBUILT.
The receiver was ordered to issue re-
eelver's certificates to the amount of S40,-
V00, with the proceeds of which the
Savannah and Atlantic, better known as
the Tybee Island railroad, shall be re-
quilt; 1t was washed out by the tre-
mendous storms and foods which swept
tne coast last year, entailing suffering
and distress which have not yet been
wholly alleviated.
FUND FOR NEW STEAMER.
The receiver was also ordered to keep
tne proceeds Of the insurance policy upon
the steamer City of Savannah, destroyed
dI the same time, as separate fund.- to
oe used, with suitable additions, for the
purchase of a new steamer.
justice jackson also ordered the re-
egelVer, without further order or notice to
the parties, to pay as they severally be-
come due, the interest coupons on certain
oohds issued for the steamship company
controlled by the Georgia Central and
certain time obligationslfor the purchase of
terminal facilities for the steamship com
pany In Hoboken, NJ j., and for the rail
I3a9 at Savannah With the exception
VI NJ MAJ Bacon, all the attorneys left
washington tonight.