The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-01-17
COLD WEATHER AND Low FARES.
Receivers Young and Collins % Borrow
Money tor Operating Expenses.


Receivers Young and collins OF the Elec-
trio Railway Company made application
20 The court and have been granted au or
der allowing them 20 borrow money for
the purpose Of pas ing The current operat-
ing expenses o. The road. This petition
and order were filed iu The Office OF the
clerk oi the United States court yester-
day hy Messrs. charlton. Msckan g. an
dersou. attorneys for tine receiver
Iu the petition they state that they have
aecertaiuel thar Tor the purpose ~ paying
The current operating expense for TIE last
six weeks or TWO months ~ the street
railroads Boz their possession, they Ind 30
necessary to supplement The receipts ol
The r1ad from time 10 time with small
loans. state Of affairs due parity to the
cold weather prevalent during the winter
months which cuts of heavy travel. but
prnri pally to rho low rate of fare iuaugu-
rated hy o. rival and comretlne street rail-
road company which Is NOW ln force.
They state that during the spring, summer
and fan months they are advised that the
earnings of the company even al these low
rates. are sufficient 90 meet the operating
expenses, and show that DC viii Doe ucces-
sary for the receivers, i'm order TO meet
deficits ia the expenses as they occur
from time 10 time during the next two
or three months, 20 coutnu. the policy pur-
sued by the company Of borrowing small
sums OF money
Al the time they assumed control of the
property under the order Of court. they
state that there were outstanding the fol-
lowing debts coming under this head.
Premium on insurance. sZsu.l3. unpaid sal
aries, Slffl2 pay rolls for the current
month up TO the date Of the rccciVership,
S7552i rental on the Savannah. Thunder
Dol De- NaHa Nh .Hf
of office. $3.50 all of which debts amount
in the aggregate TO S1.3s539 They state
that ia their opinion b. would Doe good bus
mess policy 10 provide for the settlement
Of these debts. and ask an order Of court
authorizing them 10 borrow that amount
Of money and issue receivers notes TO the
lenders for 80, 60 or .0 days as In their dis
cretion they may deem advisable. with
power TO renew them at the date OF ma
turity. They state further that they are
not IN funds 10 meet these obligations and
ask further that they be allowed to hor-
row money from time 10 time in small
sums not exceeding s.. so with the same
power 10 execute notes and make re-
newals.
Judge Speer granted an order allowing
them 10 borrow the 81 1853 which Is needed
to pay outstanding debts. but made IL nee
cssary for them 20 make further applica-
ton to the court should they desire TO
renew the notes given or borrow any sums
in excess of that amount.
Receiver Young was asked about the
order last night He stated that it was
asked for only for the reason that he
wanted TO pay the employees Of the road
the salaries due them al the time the road
was placed in the hands OF the receivers.
This he could not do from the funds In
hand. even II they had been sufficient for
the purpose without first obtaining an or
der Of court The road had been doing
this before it was placed IN the charge Of
the receivers. and 1t was found necessary
70 pursue the same policy In this case.