The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-09-03
CENTRAL TO BE SOLD OCT. 7.
THE AUCTIONEER's ADVERTISE
MEST TO APPEAR NEXT WEEK.

The savannah and Western Will De
sold in birmingham, Ala, Oct. ..
The New Company Expects TO BE
Operating the Reorganized Prop
erty by Nov. 1.-The Dates of sale
FIXED by the Reorganization Com
mfttee and Judge Harden Notified
Yesterday.
The dates for the sale Of the Central
and Savannah and Western railroads
have been fixed, and as mentioned in the
Morning News several days ago, the
property will go on the block early in Oc-
tober
Judge VIM d. Harden, who represents
the reorganization committee here re-
ceived a letter yesterday stating that
oct. had been fixed as the date for the
sale of the Savannah and Western, and
oct. Z, the date on which the Central
railroad and it's property and franchises
will go under the auctioneer's hammer.
No reason is given as to why the savan-
nah and Western is to be the first prop
erty to go on the block. but as the sale, in
any event is only a matter of formality
it really makes very little difference
which property is bought in first.
The Savannah and Western, as is well
known, viii be sold at Birmingham, Ala,
by Mr.. E. A. Angler of Atlanta, who has
been appointed special master to conduct
its sale. The Central railroad will be
sold in this city, at the Central railroad
depot, by Messrs. George W. owens and
A. E. Buck, who were appointed special
masters to have charge Of the sale Of that
property. These dates of sale were reach
ed by agreement among the members Of
the reorganization committee and others at
interest, and IT has been expected that the
sale would take place early in October,
though many have not been inclined to
believe it, except on more positive infor-
nation than has been heretofore given.
The advertisements Offering these two
railroad properties for sale, Judge Harden
says, will be published early
next week. Between the date
Of the sale and Nov. tHs
new owners OF the property expect to get
everything in shape to have the new COM
pany organized and in operation as such.
The sale of the Savannah and Western and
Central railroads will put the main part Of
the property IN the ndulS OF the
new company, and the work
of buying in the smaller lines of the
system, and the making OF the new leases
will then remain. The making of new
leases with the Southwestern and the Au-
gusta and Savannah will be a matter Of
a very short time, though it may take
some longer to bring about the foreclos-
ure of the mortgages on some of the
minor lines of the system.
/ n bea ba {
been taken in, the only erring member OF
| the system is the Chattanooga, Rome anG
Columbus railroad, the owners Of whose
! bonds appear dissatisfied with the terms
! offered by the reorganization committee.
At last accounts, however, this road was
| considering the proposition made by the
| Reorganization committee with more favor
than has been the case heretofore, and
/ there was every prospect of that line s
| being taken into the system
So far, no important changes have been
made in the programme for the opera
| lions of the reorganized property Re
! ceiver H. NJ. Conner will be president, and
| II is still insisted that the Southern is
| going to operate it as an entirely separate
and independent line.