The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-03-16
ATTORNEYS ARGUE ALL DAY.
The NJ. G. and A. Case in the Superior
Court.

Court.
The entire day in the superior court
yesterday was taken up with the argu-
ments in the case of l.. ]. Guilmartin and
others against the Middle Georgia and At
lantic Railroad Company and the Central
of Georgia Railway Company.
Mr.. Charles N. West, for the plaintiffs,
occupied the courts attention from 10 I'M
til o'clock. Entering into an extended
argument to show that the Eatonton
Branch railroad bondhoders had lost an
important part of their security, the in
dorsement and guarantee of the Middle
Georgia and Atlantic railroad, which was
wiped out by the sale of the whole prop
erty to the Central of Georgia. This guar
antee, MIR West asserted has not been
assumed by the Central, and he proceeded
with legal demonstrations of his views
along the lines indicated in the synopsis
of his opening argument, published in
the Morning News He urged upon the
court the Importance to the Eatonton
bondholders of this security, his conclu-
sion. from the facts in the case, being
that these bondholders were entitled to
have the Central bonds to be paid to the
Middle Georgia and Atlantic Company,
placed in trust,as a substituted security in
place of the Middle Georgia and Atlantic
guarantee.
Col. William Garrard's argument in be-
and Atlantic Company took up
the afternoon session of the court He
made a strong speech in answer to the
presentation of the plaintiffs case, holding
that the deed from the Middle
Georgia and Atlantic Railroad
Company to the Central showed conclu-
sively that the Central railroad had as
sumed responsibility for the Indebtedness
! of $l6S,0O0 to the Eatonton Branch bond
| holders, and this was further shown, he con-
| tended by the fact that the Central had
| reserved Sl6S,0O0 of bonds TO be placed in
the hands of trustee to await the retire
ment of the Eatonton bonds. This, he
| said, showed that the Central had taken
| ali responsibility for the debt, and had put
those bonds aside TO be sold or otherwise
| disposed of. solely for the purpose of pay
| ing off the Eatonton bonds. He referred
to the fact that the bonds of
| a large system are more sale
| able ana generally bring better prices
than those of a short line He said also
that If 1t should ever happen that the
| Eatonton Branch should go to foreclos-
ure the Central would have to buy 1t in,
even at par for the bonds, in order 20
maintain the integrity of the line.
Col. Garrard brought frequent supreme
court decisions to the support of his prop
| ositions TO the court. Among other
| things he asserted that the suit appeared
to have been brought as a matter of
| speculation, for the purpose of forcing the
| Middle Georgia and Atlantic people 10
! buy up the minority Eatonton bonds It
par. This has been emphatically denied
| by the other side.
The papers will all be placed in .he
| hands of the court for a decision as soon
as Capt II. c. Cunningham completes
his remarks in behalf of the Centrars side
| of the case. Judge Falligant will have
to decide whether the bonds to be paid
as purchase money by the Central 10
| the Middle Georgia and Atlantic company
shall be put in trust as a substituted Sc
curity back Of the guarantee on the
| Eatonton bonds, or be distributed among
the creditors Of the Middle Georgia and
| Atlantic.