The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-02-04
TO TURN OVER THE ASSETS.
JUDGE PARDEE GRANTS THE Or
DER ASKED FOR BY THOMAS
AND RYAN.


AND RYAN.
He Reserved $4,000 in the Registry
OF the Court as Security for Certain
Claims Against the Old Central
RaiIrOnd-The order Discharges
The Receivers a. soon n They
Have Complied With Its Terms and
Filed Their Final RepOrt-The
Court Holds Plenty of Security for
All Claims Against the Receivers
aS Well as Against the Central.
The receivers of the Central Railroad
and Banking Company have been directed
by Judge Pardee TO turn over 10 Messrs.
Thomas and Ryan. the purchasers Of the
property. all of the cash assets IN their
hands and their discharge is granted them
as soon as they have complied with the
order and made their final returns 10 the
court
The news was received in the city yes
terday in the shape Of the following tele-
gram from Mr. A. r. Lawton. Jr., TO
Messrs. Lawton & Cunningham:
Judge Pardee grants order reserving
in the registry of the court about $4,000
as security for certain claims. Under the
order Thomas and Ryan will name solic-
itor on whom service against them can
be perfected
Several other kilograms were received
with regard TO the proceedings before
Judge Pardee, but all were practically of
the same purport.
Mr.. Henry Crawford, solicitor for
Messrs. Thomas and Ryan Will arrive in
the city Thursday morning, and, it is
understood that arrangements have been
made to have the transfer of the cash as
sets in the hands of the receivers take
place on that day. just exactly what the
amount OF these assets Is, cannot De de-
termined No calculations Of IL have Deen
made, so those who are interested IN the
matter state, and as moneys are being re-
ceived and paid out right long, the
amount is not known exactly.
From the Information received here it
IS understood that the $4,000 TO be re-
tanned in the registry of the court is 10
satisfy any claims that have been or may
be established against the old Central
Railroad and Banking Company. These
are the only claims for which any securl-
~ is requisite as all the claims against
the receivers are fully secured under the
order of the court, Messrs Thomas and
Ryan being held responsible for them, ana
the court having the right to retake any
portion or all of the property, at any
time in case any of the valid claims
against the receivers are not paid.
The receivers will be discharged az soon
as they file their final report, and the re-
port is approved. The order states that in
effect, and there will be no further order of
court necessary to effect their final dis
charge the discharge being effected by
this order as soon as they have com
piled with its conditions. The receivers
Messrs. II. NJ. Conner and K. Somers
Hayes, will probably file their final report
within week. or perhaps less time, and
there will be nothing then in the way OF
the permanent organization of the new
Central OF Georgia Railway Company. In
fact, the purpose of this order was to IA
cilitate the reorganization or the Cen
trail of Georgia Railway Company 50 that
the permanent organization could be Ell
fected, and the property placed in charge
of a regular set of officials.
There are very few claims now out
standing, either against the old Central
or against the receivers. Nearly all of
the claims against the Central are in the
hands of Messrs. Thomas and Ryan, and
the fund that is to be turned into court
from the sale of the overflow property will
be prorated among those who hold valid
claims against the old company.
The assets in the hands of Messrs.
Thomas and Ryan, however, are a Sc
curity for any claims against the receiv
ers. such claims Will be adjusted, II nee
essary, in the same courts where the liti-
cation has been going on all the time, and
no difference in this respect will be known.
The court holds the right to take back
the property and appoint another receiver
at any time if these claims are not prop
erly adjusted Any new suits against tina
receivers which have not yet been filed
VIII have to be made against the pur-
chasers. but they will be in the same
courts, and conducted Just as If the re-
celvers continued to hold the property.
The master commissioners sale of the
overflow property has been in no wise
1nterfered with nor was ii contemplated
that II should be. The fund from the sale
of this property win be turned into the reg
1stry of the court and any litigation will
be over the fund and not the property.
Commissioner w. r. Leaken will sell
the first lot of this overflow property this
morning at u O'Clock before the door of
the Chatham county court house. The
property to be sold at this time is in nine
lots, and is located in the counties of
Richmond, Screven, Burke, Eftingham,
washington, Mcintosh and. Chatham. 1t
consists largely of real estate, and the per-
sonal assets of the banking department.
The Central Railroad Bank property on
Bay street is part of the property to be
sold, and there is also a rice plantation
IN Mcintosh county, and several other
large and important pieces of real estate.
Capt. II. c. Cunningham will appear at
the sale and bid in behalf of Messrs.
Thomas and Ryan. Other sales will take
place in Atlanta tomorrow; Macon on
Thursday, and Eufaula on Saturday
An Atlanta dispatch with regard to the
receivers of the Savannah and Western,
says: THE order of Judge Pardee, adj
dressed to Receivers Conner and Lowry,
requiring them to turn over all necessary
documents accounts, bank books and
other records relating to the Savannah
and Western railroad to Messrs. Samuel
Thomas and Thomas f. Ryan, represent
ing the recent purchasers of the property
federal court here to-day"
ANTI-ADNIINISTRA TIONIsTS' PLANS.