The people's journal. (Pickens, S.C.) 1891-1903, 1895-11-28
THE p. r. & w. @. SOLD.
ONLY "A SINGLE BIDDER WAS
THERE.
Tho Southern Railway Has Scoopcu
the PriZc-WhO WI Opcratn IL

MaJof lncOuOfo u. BhtkGr, special
master for tho sale Of tho Port Royal
and Western Carolina Railway, read
tho advertisement Of sale from the
depot platform in Greenwood at noon
on the 10th inst, and called for bids
upon tho Augusta and Knoxville Ruil.
road, for which ho did noe get u bid =.
He called for oilers on the Port Royal
and Western Carolina, and there was
no response. lIo then offered the
entire property, when MIR. John w.
Hutchinson, Jr., OF New York CITY,
representing Samuel Thomas and
Thomas Ryan, Of New York, deposited
tho certified check necessary to bid
and offered $2,650,000 for tho entire
property and it was knocked down to
him.
The Port Royal and Western Caro-
Ina halfway was " consolidation of
the Augusta and Knoxville, running
from Augusta to Grccnvllc, the
IirccnwOou, Laurcns and Spartanburg,
from Greenwood to Spurtunburu tile
Grecnvillc and lIuurnns, whose ter.
minals arc indicated in tho name. and
the Savannah Valley, running from
Mccormick to Anderson. making in
all II mileage Of 227 miles
n special correspondent Of tho Au-
gusta Chroiclc gives the following DO
tails of tho sale, with somo forecasts
as TO the future policy OF control:
Tho sale was mado under IL Joint
foreclosure by Charles H. phinizy and
Alfred Baker, of Augusta, trustees of
the bondhOldcrs Of tho Augusta and
Knoxville and the Central Trust Com
pany, of New York, trustees of tho l..
Ii. II w. &. The Ordc, for the sale
was filed October 7th, 1895.
First tho a. Il *. was offered as u
part, but there was no bidder. Then
the II. II. ~ w. &. exclusive OF The
T.. Il k., was offered. Aftcr this
the entire system, including tho n. e.
Is. from Augusta TO Greenwood, and
the line from Mccormick to Andcr-
son; from LM,rcns to Grccnvillc, and
from Greenwood TO Spartanburg.
Ondcr Tho terms Of tho sale tho upset
price for the entire systcm was %2,GJU,-
600. When Special Master Barker
called for II bid on the entire system
Mr.. Hutchinson stepped forward, and
placing Il certified check in tho mas
tors hands, made the bid at tho upset
price. There was II second and third
call and then the road was knocked
down. The OccaSi0 Of the sale was
made quite u holiday in this place and
there wcrc many people in Attendance
on the sale. Among the more prumi-
ncnI persons here to-day wcrU Re
ccivcr John 5. Cleveland of the l.. IL.
n w. g., Mr.. n. y. Lawton, Jr., Of
savannah, member OF the firm Of Law
ton X &Cnnn'nEh"m, who represented
the l.. II. " w. g.. the A. Il *. and
the Central Railroad Of Georgia: Mr..
Walter q. Charlton, OF Savannah, and
William Is. Miller, OF Augusta repro
scnting Phinizy and Baker, trustees
of tho y. Il Is. bondholcrs: Henry IS.
IOmpk1nS. OF Atlanta, representing
tho Central Trust Co.. Of New York !:
Joseph Gnnunl, Of Augusta, attorney
Tor Jno. Is. Cleveland, receiver; ). j.
Simpson, OF Spurtunburg, general
counsel for receiver; General l'ussrn-
ger Agent w. j. Craig; Supcrintcn-
dent ~. w. Anderson, and Mr.. William
Mcleod, Of the L. II. & w. G.
just exactly what the sale Of the
system means for the future is hard
TO say. OF course Mcssrs. Thomas and
Ryan are the prime movers in the re-
organization OF the Cuntrul and it
would seem reasonable to believe that
tho future policy Of the Port Royal
and Western Carolina will bc dirccted
by the Central, Of which Mr.. II. Nj.
Conner will in all probability be the
president under tho permanent or
gpniHntiOn. On the other hand, since
tho interests Of the Central and the
Southern arc SO closely allied, it is
rumored that the Port Royal aud
Western Carolina will DO controlled
by the latter road, Us IL Fart of the
division which now includes tho old
CnarlOtte, Columbia and Augusta.
Under all events the sale docs not
Affect tho business interests, OF Angus
til, for as the road will be operated in
Itt inf. Nfi =
certainty not be operated against the
interests Of this city. Speaking with
ono OF the most prominent men in the
railroad business today, | asked what
would be the probabic fdLurc policy OF
the road, and in whose interests would
it be operated. With u knowing smilc
tho gentleman in question assured me
that 1t would be "0pcrntcd in the in
forests Of the pocket books of its
owners" So thcre is the whole matter
in q nut shell.
Some had feared that il the South
crn got control OF the road il would
shut out the Seaboard Air Line, which
has OF late been doing Il good business
by way Of this line, but the Interstate
commission will, OF course, control to
dcgrcc, and there can be no action
unfaVorablc to Augusta, even If the
.oouUilCIl w iSllCl, "IlCl ny XII IIlcdHS
it does not.
When questioned by me today, Mr..
Hutchinson assured me that he was
notat liberty to mako any statement
beyond tho fact that he rcprcs cntcd
Thomas and Ryan, which OF course
appeared at the sale. Nor would MIR.
A. X. LawtOn, Jr, talk. IN fact
Mother Of these gentlemen could know
any ything Of the future policy.
The showing made by Receiver John
B Cleveland, since he mas had charge
Of the road is Il great one and to his
ablc management is due u great deal
Of praise. At one time, and only Il
few years ago, the bonds of the Au-
gusta and Knoxville could be bought
at 90 and today you can not touch
them under l2i. This is matter of
cOngratulation at this end of the line,
for IL good many OF the 5000, 600 Of the
first mortgage securities are held hcrc.
Tnc system is now in splendid condi-
ton and tho road bed vastly improved.
The road was highly complimcntcd by
Mr.. Cecil Gabbctt, who this week went
over it on Il tour of inspection.
Today's sale will be reported to Judge
Simonton in the next ten days and will
in all probability be confirmed. Really,
Ia. ,l.N, L..