The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1896-02-05
Thomas and Ryan's Road.

The much-talked-cf case against the
confirmation Of the sale of the Port Poyal
and Western Carolina Road to Messrs.
Thomas and Ryan came up for a final
hearing before Judge Slmonton in the
United States Circuit Court yesterday.
There we're many celebrated lawyers
from this and other States present, and it
was expected that an exciting legal con-
fiict would characterize the days pro-
ceedings. In this, however, there was q
disappointment in store, for Judge
Simonton cut the proceedings short al
most at the outset of the hearing. Messrs.
Dial and Featherstone opposed the con
tirmation of the sale on the ground that
chs Southern was interested in the pur-
chase. and Mr.. Crawford presented state
ments from Messre. Thomas and Ryan to
the effect that they bought the road on
their W account, and that it would be
operated as an individual line. Hefurther
said that his clients were willing to resign
their positions as directors Of the South
ern, and furthermore that they would
dispose of their interests in that system.
Thereupon Judge Simonton said that he
would confirm the sale of the road to
them as soon as these conditions had been
compiled with.
1u0 CdSO j . n 4hLuOuS Ou0 Guu d Bh6LCu
of it will be interesting at this time: The
counties of Laurens, Anderson and Spar
tanburg and the city Of Greenville about
1884 or 1885 subscribed to the capital stock
of the Greenville and Laurens, Green
wood, ~Spartanburg and Laurens and the
Savannah Valley Railroad Companies.
Their object in becoming subscribers was
to get competing lines of railroad-the
counties up to that time having boon in
the power Of the roads controlled by the
Richmond and Danville. Bonds were
issued and the counties and cities which
subscribed are nov paying the interest
on these bonds. The railroads, with the
Augusta and Knoxville, were afterwards
placed in the control of the Central Rail-
road and banking Company of Georgia.
This road had all of the roads consolidated
under the name of the Port Royal and
Western Carolina.
In order to equip and run the Port
Royal and Western Carolina it became
necessary to mortgage the system for
about two millions Of dollars. When the
Richmond and Danville, now the South
ern, bought a controlling interest in the
Central of Georgia the Port Royal and
Western Carolina. through the Central
also. came to be controlled by the Rich
mend and Danville, and the counties that
subscribed to the road were deprived of
the competition which they had bought
and which they thought they could retain.
tees of the Augusta and Knoxville Road,
which was a part of the Port Royal and
Western Carolina system, to foreclose the
mortgage held by the trustees on the road.
At that time the Port Royal and Western
Carolina was being operated and con-
trolled by Mr.. Fl. NJ. Conner as receiver
Of the Georgia Central. When the suit
wa brought the COUNTIES came into the
suit, by permission, In order to protect
their rights. The counties were repre-
sented by Messrs. N. B. Dial and G. G.
Featherstone, ofLaurens, and J. r. Lamar,
Of Augusta, and s. j. Simpson, of Spar
tanburg.
The Central Trust Company, of New
York, which held q mortgage on the
entire Port Royal and Western Carolina
system, through Judge Tompkins, of
Atlanta, Ca, next filed a bill in the same
Court, asking for the foreclosure of its
mortgage.
For about three years the suit has been
in progress, the counties contesting every
inch OF ground and fighting to retain the
competition which they had bought. The
Court finally ordered the entire system
sold. The sale took place at Greenwood,
8. c., on Goth Of November, 1895, when
Samuel Thomas and Thos. F. Ryan, of
New York, became the purchasers. at
two million, six hundred and fifty thou
sand dollars. Inasmuch as Messrs.
Thomas and Ryan were stockholders and
directors in the Southern, and had paid
the purchase money Of the road, In part,
with securities formerly controlled by the
Southern Railway Company, the counties
naturally SUPPOSED that they had pur-
chased for the Southern and that the road
would be operated by the Southern. So