The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1894-06-25
UNDER A NEW NAME.
THE SOUTHERN RAILWAY COMPANY
STHE NEW TITLE.
Henry Crawford Tells of its Future-Cap-
tain Green Continues as General Mama
ger and Mr.. Haas as Traffic Manager.

Richmond, Va, June 1S.-The organ
ization Of the Southern Railway Company,
the successor of the Richmond and Danville
Railroad Company, effected today by
the execution and delivery Of the special
masters and receivers deeds to the new
corporation and by the execution of the
articles Of the association by Messrs. Coster
and Thomas, the purchasers Of the rail-
road and their associates, MeSSrs. Spen-
Ger, Andrews, StetSOn and Even. The deed
was filed and recorded in the chancery
court at II o'clock, noon, and the articles
at 1880 p. m.
The incorporators constituted Messrs Spen-
Ger, Coster, Andrews, Stetson and Even
to be directors and Samuel Spencer to be
president Of the new company. The gen.
eral office of the new company is establish
ed in The Times building, corner of Tenth
and Banks streets, Richmond.
At the first meeting of the board of di-
rectors of the new company officers were
elected They will assume their duties
on the morning Of July LIST, when, pursuant
to the courts orders, the properties of the
Richmond and Danville Railroad Company
will be turned over by the receivers to the
rev company.
The Southern Railway Company assumes
the leases of the Atlanta and Charlotte
Airline, the Western North Carolina rail-
road, the Washington, Ohio and Western
railroad, the Piedmont railroad and the
North Carolina railroad
Samuel Spencer as President.
Under the plan of reorganization OF the
companies embraced in the old Richmond
Terminal system, other lines will be brought
in later as the several legal formalities
are carried out. The officers of the new
company elected today are: Samuel Spencer.
president; A. 3, Andrews. second vice pres
dent; w. H. Baldwin, Jr., third vice pres
dent; Francis Lynde Stetson, general Coun-
sci; w. A. c. EweEl secretary; John w Hall,
treasurer; George S. Hobbs, auditor.
A permanent board of directors will be
elected later. 1t is also understood that
CAPTAIN Green will be continued as gen
eral manager and Mr.. Sol Haas as gem
eral traffic manager. Indeed, it is be-
Heved there will be no material change in
the personnel of the company.
DrexcI, Morgan & Co. Run 1t.
The gold mortgage, the debenture mort
gage and the equipment mortgage bonds
are not disturbed by the settlement; The
whole proceeding of foreclosure and sale
was taken under the third general Mort
gage and for these bonds the new company
will issue its obligations. The ROAD Will
be run under the supervision or DreXel,
Morgan & Co. for five years, unless other
arrangements are made. All 'tead wood
will be dropped from the system and only
such lines incorporated into 1t as the new
company believes will pay. In this con-
nection attention is called to the fact that
the same parties who control the Chesa-
peake and Ohio railway control this rev
corporation. The officers Of the lew cor
poraton put in a big days work today
attending to details, and most Of teen left
tonight for Washington. They give assur-
ances that the road will be on Business
principles and that the most liberal pol
icy will be pursued toward the south.
1t is understood that from washington
they go to Knoxville to settle up the affairs
of the East Tennessee, Virginia ana Geor-
gia road.
Mr.. Henry Crawford, counsel for the
compliments in the suit under which the
sale of the road was made, said. In talk
ing to a Richmond man on the subject,
that the policy of the new company would
be very liberal to the south; that the road
would be put in firSt-clasS condition and
run on business principles, but that the
great aim of the company would be to build
up the country through which the road
passed He believed that the south VS.
on the eve of great industrial a.t>,ty,
and that the Southern Railway Company
would be a great factor in the Wolk Of
development.
The VandcrbiIts in 1t.
The fact that Drexel, Morgan & Co, by
whom the reorganization was conducted,
represent the Vanderbilts, VINO own large
interests in the Chesapeake and OHIO, gives
rise to the belief that this system and the
Danville will be conducted very friendly
terms. 1t is believed that In'1'1 of the
Danville's business will hereafter go to
Newport News for shipment by that COM
panys steamers. This idea is borne out
by a visit paid to Newport News by sew
eral of the reorganization people.