The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-10-15
TO REFLECT THE OLD BOARD.
THE CESTRAL's PRESENT DIREC-
TORS TO STAY IN.

The Southern Does Not Contemplate
Any violent Changes in the sys-
tem-The Talk of Norfolk as an
Outlet said 10 BE without FOHnda-
tion-The Central and Southern
Systems TO Divide the Territory.
The hearing before Judge Pardee for
confirmation of the sales Of the Savan-
nah and Western and the Central rail-
roads which viii take place in Atlanta,
has been postponed until Thursday Of This
week. Though the hearing is entirely a
formal one in its nature. it is likely that
several matters OF interest will come up,
and number OF the attorneys interested
in the litigation Will be on hand.
The fees viii not be passed upon at this
session of the court. An agreement with
regard TO them viii be reached by the at
torneys, and the court will pass upon them
sometime before the conclusion Of the
litigation.
In addition to the retention Of Mr.. Il.
NJ. Conner as president of the new com
pany, it is now reported authOritatvely,
that probably the entire present board Of
directors will be reelected as the direct
ors Of the new company. 1t is stated that
the Southern Railway Company has al
ways been satisfied with the management
Of this board of directors. and that there
is no reason why it should be discontin-
ued. In fact. it is stated that the South
ern railway does not contemplate any vio-
lent changes in any part of the system
The whole policy seems to be, so far as can
be learned. and it is no doubt the wisest
course, to operate the property as an en-
tirely independent one, and as will best
please the people with whom it will have
10 deal
Tine talk about using the Central for
the benefit of the Southern or TO build up
Norfolk or any other particular port
said well posted gentleman yesterday,
rs the worst sort of nonsense, as can
be plainly seen by anyone who VIII take
the trouble to look into the matter. In
the first place in their agreement with
the income bondhofders which includes
first second and third preference in
come bonds, the new company agrees TO
try to earn the interest which those
bonds call for. This, IL will readily be
seen, gives any income bondholder the
right TO apply to the court at once in
case of the slightest diversion of traffic
from its proper channels, and any evils
of this kind, If such were contemplated,
which is not the case, could be corrected
in short order.
1T is likely that division of the ter
ritory between the two systems VIII be
agreed on, and that each will work on its
great measure what both systems have
been trying to bring about and that is
getting rid of a great army of soliciting
agents which VIII save 10 the Central
alone a good many thousand dollars
every year, and there is no telling what
il VIII save to the Southern when 1t is
arranged so that the soliciting agents
will not be needed.
1T has been carefully estimated
that in good years the Central
system can earn about 100000,
while s., 79O, 900 will be sufficient to pay the
Southern Railway Company per cent.
on its $4,000 shares of capital stock in the
new company besides all the fixed charges
which come before any dividend can be
paid 1t will certainly be to the interest
of the Southern to run the system in a
manner that VIII be beneficial to the peo-
pie whom il Is to serve, and there is no
other way that it can be figured out. l
believe that within eighteen months the
debentures will be getting to per cent,
and that within five years the income
bonds which are to be exchanged for the
minority stock will receive their fun )
per cent. interest"
This is a very hopeful view of the situa-
ton, but it Is one which promises TO be
carried out in every respect. There Is no
reason whatever to believe, so far as can
be seen, that the new owners of the Cen
trail system will not operate the property
in the interests of those with whom II has
to deal.