The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-10-07
BIG RAILROAD MEN HERE.
GEN. SAMUEL THOMAS To BID OFF
THE CENTRAL TO-DAY.

IL VIII BE sold at High NoOn-The
sale Expected TO he Confirmed
Next week at the same Time with
the savannah and Mestern-The
New Securities VIII Probably BE
Ready for Distribution by Nov. 1.
several Other sales Before the New
system l. Complete.
IT viii be like funeral TO a great
many Of these people here" said we'll
known railroad man yesterday, with ref
erence to the sale OF the Central railroad,
which viii take place to-day in front OF
the depot on West Broad street, at high
noon.
He was not far wrong. though
many of them viii expect. no doubt. to
see their property rise PhoeniX-like from
the ruins. but they can scarcely hope TO
see it stand again for them where 1t did
in the good old days.
The railroad men who are interested in
the proceedings which viii take place ar
rived fin the city yesterday, and are all
stopping at the De Soto. Mr. Henry Craw-
ford and Mr. W. A. c. Even. the spe-
ciaI accountant arrived in the morning.
while the others came in private cars on
the afternoon train. Gen. Samuel Thorn
as. Mr.. Thomas H. Ryan, Receiver II. Nj.
Conner and Special Master A. f. Buck
came on the night train. The party took
the day trip, coming from Columbus by
way OF the Southwestern railroad, as Gen.
Thomas himself is a practical railroad
man and wanted to look at that property.
as well as other parts of the system.
Gen. Thomas expressed himself as well
pleased with the condition of the prop
erty, and the general method of the OPP
erations. A representative of the Morning
News called on him and Mr.. Ryan at
the De Soto last night, but neither Of
them would talk concerning the sale
Receiver Conner said that the general
conditions are much better than they
have been, and he finds everywhere a
general hopeful feeling with regard TO
the property. Though the sale takes
place to-day, 1t will hardly be ratified
for couple of weeks, and he thinks It
viii be about Jan. j before the receivers
are finally discharged. All the interests
have been brought together, however,
and there will be no further delay from
any disputes with regard TO the new Sc
curities.
Mr.. Buck OF. Mr.. George w; owens win
be the auetioneer to knock down the
property. The bid, however, will in all
probability be made by Gen. Thomas,
who has been perhaps the leading factor
in the reorganization Of the property.
In talking of the reorganization, Mr..
years has devoted almost his entire time
TO the interest of his clients in the prop
erty, said me new securities would prob
ably be ready Tor distribution about Nov.
/. He expected the sales both of the Sa-
vannah and Western and the Central, he
said to be confirmed by Judge Pardee IN
Atlanta next week, and the new company
will then be organized at once. There will
likely be a short interim between the or
ganizatiOn of the new company and its
taking control of the property, principally
on Account Of the fact that IL Is some
what inconvenient to break into months
business. The receivers though will hard
ly be discharged until the first Of the
year
The sale to-day takes in only the Cen
trail railroad property and the properties
directly connected with Il. The commit
tee is already in control of the leasehold
interests. The bank and its assets and the
outside properties belonging to the sys-
TEN will be sold separately. There will be
several other sales before the system is
finally reorganized as a whole, namely,
the Montgomery and Eufaula, the Mobile
and Girard, the Columbus and Rome, the
Savannah and Atlantic, the Port Royal
and Western Carolina and the Port Royal
and Augusta. The two latter properties
are under the control of separate recev-
ers, but the Central reorganization COM
mittee owns the majority of the securi-
sies In both properties and will, Of course,
take them in.
Mr. Crawford said it had been definitely
settled that Receiver Conner was TO be
the first president of the reorganized sys-
TEN. The sale to-day will no doubt at
tract good crowd. 1t has been long
time since a big railroad property was
sold in Savannah, and even though II is
except those who have arranged to do SO
through control of the securities, there
is general curiosity to know lust what
such sale amounts to-