The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-03-24
BEFORE JUDGE P1RDEE.
The Savannah and Western Receiver
Ship 70 Come Up Monday.

ship 70 Come Up Monday.
WIN Be Heard in the Circuit Court
Here-It Is Said That Mr. Conner
win Not Oppose the Motion-Ar
ranEements Being Made 30 ConsoI-
date the Violating Debt The Reoeiv-
ers TO Make D Contract with the
Trustae-No Plan of RecrE
Yet Put Forward-TLe Association
All Right Once 1Iora.
Receivers il. NJ. Conner and r.. Souers
Hayes. of the Central railroad came
down from New York yesterday morning
on the Elorida Central and Peninsuar
They were accompanied 10y Mr. Julian
IT, Davies who was recently elected
associate counsel Tor the receivers.
Mr. Davies -isit Just at this time is
connected with the hearing which is 10
come up here before Judge Don A. Par
dee in the circuit court with regard to
the petition recently filed by the attor-
neys representing the boudholders Of the
Savannah ana Western railroad, asking
the removal of Mr. Conner as receiver Of
that property and the appointment Of a
new receiver.
GROUNDS OF THE PETITION.
The report of the filing of such a petit
ton was published in the MoRNISG News
day or TWO ago Atthat time, however,
the grounds were not known. Judge Par
dee appointed both the present receivers
Of the Savannah and Western, and the
application for the change is to be heard
before him.
The petition charges that the Savannah
and Western has been run in the interests
of the Central instead of the Savannah
and Westerns interests and that Mr..
Conner, as receiver of the Central, IS try
ing to saddle on the Savannah and West
ern a large debt which, it is claimed, is
manifestly unjust.
Simon Borg is chairman of the bond
holders committee, and il is in the inter
ests of this committee that the petition is
brought. The bondhOlders say if another
receiver is appointed they viii provide
some person who viii promptly furnish
money enough to pay for all labor, mater
ials, supplies and taxes
MAY NOT RESIST IT.
Mr.. Conner was asked Yesterday for
what purpose this petition was brought
He said he knew of no reasons but such
as were stated in the petition. He said
he would file his answer when the hear
he would emphaticaly deny in his
answer that the Savannah and Western
railroad had been operated in the inter
ests of the Central.
1t is not known Just what action the at
torneys for the receivers win take but it
is understood that petition will not be
resisted by them. Judge Pardee is ex-
pected TO arrive tomorrow night.
NO REORGANIZATION PLAN YET.
Mr. Conner was asked what he had
learned while in New York, with refer
ence to the reorganization Of the prop
erty.
He said that as far as he could learn,
no plan whatever mad yet been prepared.
All the interests in New York were dis
cussing reorganization, but so far, nothing
definite has been accomplished.
Mr.. Conner could give no idea of what
was meant by the statement made at the
meeting of the debenture holders a day
or two ago to the effect that the interests
Of these securities were in danger unless
some action was taken. AS no plan has
been prepared u is difficult to understand
what danger there is, unless il is one that
is contemplated by those who are dis
Cussing reorganization
II is no doubt best for all classes Of
securities to organize as it would give
their holders more influence in demand
ing a fair allotment of the new securities
- - - - WI '.ilN ~ ~
pIOFe acceptance 70 Vhe majority OF the
security noiuefs.
CONSOLIDATING THE FLOATING DEBT.
Capt. Hayes, who has been in New
York for the last three months and WHO'S
in o position TO know said that no plan Of
REORGANIZATION had vet been put forward
He said a number Of them had been nrp-
pared by individuals. but that none of
them amounted to anything so far as a
final 8rr9uppT0pDf WAS FopsaVpaI
He said the receivers were arronpinc
Mercoptic Tnst % S Sng r1aC' ~ ueo. Cne
consolidatin@ mis- fndabtSd"oss hnt ne
vet this has not been tfua1i,,a ..,.,rl nIishaA