The morning news. [volume] (Savannah, Ga.) 1887-1900, 1894-01-12
WILDE OUT BEFORE FALL.
4 Reorganization Plan Will be Ready
Before Sept. |.

Things Brighter in New York but
Everybody Cautious-The Tybee
Railroad Certificates Not Yet Sold.
Mr.. Conner VIII Report to the Bond
holders-The New York People eau
tious and Fearful of Weak Spots.
Mr.. Conner Still Advises Everybody
to Hold Their Securities-Things
Looking Much Better in New York
Than When he Was There Before.
Receiver Conner, of the Central rail-
road, is more hopeful than ever of a sat
Isfactory outcome of the situation and
turn that the affairs of the road have
taken.
He was seen at his Office yesterday and
expressed himself as well satisfied, under
the circumstances, with the present con-
ditions and future prospects for the
property He is just back from New
York, where he has been on matters of
business connected with the road, and
while there, had ample opportunity, of
which he took advantage, to learn just
what the situation is among the New
York interests.
1t is understood that one of the matters
which called the receiver to New York
was the question of the certificates to be
issued to accomplish the rebuilding and
repairs of the Savannah and Atlantic
railroad. A market for these certificates
Is, of course, prerequisite to beginning
the work of recOnstructing the property.
Mr.. Conner was asked if he had succeeded
In placing the Tybee railroad certificates
ON the market
Il have not sold Them he replied. Mr..
Conner did not care to say anything more
about these certificates until he had made
report to the bOndholders, which he will
do in day or two. Suffice it to say. how
ever, as he has not sold the certificates
the work on the road will not begin at
Dnce.
LOOKING BETTER IN NEW YORK.
"Does everything look favorable for the
property in New York;" Mr. Conner was
asked.
Everything looks decidedly better"
Mr.. Conner replied. Everybody in New
York is cautious, however, and the peo-
pie are not entirely over the panic yet.
There is lots of money in New York lay
ing idle, but it requires confidence in what
you are offering to get it.
1.-THE truth of the situation is the peo-
pie are waiting. They don't know what
the government is going to do about tinan-
cial matters. Everybody is waiting to
see what the government will do, and no.
body knows what weak spots the recent
panic has left, and they want to know
what weak spots have been left before
acting. This is true in regard to business
matters in general.
WANT TO SEE II IT Is PERMANENT.
''In regard to railroad matters" said
Mr. Conner, sit is known that all railroad
interests have been depressed. The New
York people are not quick to act on any
good showing which may be made now.
They want to see whether there will be
any improvement in business, whether
our squirt down here is short lived, or
whether the Improvement is substantial
and is likely to be permanent"
"What did you hear about reorganiza-
ton in New Yorkl'' was asked.
Il can add nothing to what Capt. Hayes
said yesterday on that line" Mr.. Conner
replied. The people up there, as he
says, are getting together, and l believe
they will all harmonic on some good
plan.
"Do you think the road will go to
sale Sept. II
II don't know" Mr.. Conner replied.
''It may be postponed again, but it can
not take place earlier than that date. In
fixing the date Justice jackson said that
now was no time for the sale of such
property and, unless conditions change
very much, 1t may be postponed again"
"Do you think there will be a plan Of
reorganization out before Sept. II"
Undoubtedly" said MIR. Conner.
There will be plan put out, think,
long before that time. Things are i'm
proving in New York, and while, as / say,
the people are cautious, everything is
looking much better than when was in
New York before"
ADVISES THEM TO HOLD ON.
''Do you still advise people to hold their
securities, stock and debentures, as you
did sometime ago2" was asked.
81 advise everybody to hold everything
they've got" Mr.. Conner replied "Of
course, everything is depressed and low
now, but things are looking brighter, and
believe the people who take charge of
reorganizing the property will do justice
all around.
81 advise everybody particularly, to get
their Southwestern stock at once. Those
who have not withdrawn their holdings
from the Mercantile Trust Company
should do so without delay, as the stock
books of the Southwestern close Jan. 25,
and there is no time to lose as the meet
ing will probably be an important one"
Twill the matter of the Savannah and
Western certificates, which comes up
March l, bring up the question as to
whether large amount of the rolling
stock on the Central was purchased with
Savannah and Western money, the pro-
ceeds from the Savannah and Western
bonds2n
THAT matter has been referred to the
master, Mr.. Conner said. He will go
over the records connected with that
matter, and find out Just what rolling
stock and other property the Savannah
and Western owns, and with what money
II was purchased. He will report to the
court before the hearing, March !"
Testimony in connection with the mat
ters in the petition for the issue of the
Savannah and Western receivers certif-
Gates will be taken before the special mas
ter, Mr.. George w. Owens, next Wednes-
day.
The extremely hopeful view which Re,
ceiver Conner takes of the situation will
be received with pleasure by all interested
in the Centrals affairs, either pecuniary
or otherwise.
a MIDNIGHT MAR AUDER.