Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-12-29
ON IT'S FEET AGAIN.
NEW YORK PRODUCE EXCHANGE
TRUST COMPANY REORG AIMED.
1T is FRIENDLY TO THE SEADOARD.
No Longer Feared That IL VIII At
tempt 10 Hinder Consolidation
Bridge-RaiirOad Notes.

a great deal of interest was created
In Richmond yesterday by the announce
ment that the New York Produce Ex-
change Trust Company, which failed a
few days ago. was again on its feet.
Several Richmond people were directly
or indirectly interested in the Trust COM
pany. It's failure without recovery would
have affected several Richmond concerns.
Mr. Edwin Gould was made president
OF the company in the stead of Mr.. r. A.
Beall, and General Samuel Thomas sue
ceeds Mr. Il. a. Mcintyre as vicc-presi-
dent There is no change IN the person
nel OF the old Board of Directors.
There will be no assessment made upon
the capital stock of 100000, which is in
no way impaired. All Gcpositors will be
paid in fun in short time Nj John
sAeitoh Williams Is in New York. Adj
wees from him yesterday were to the
effect that the new management is per-
tectly satisfactory TO him, ana that il was
low assured that the interests of the
Seaboard AIRLINE would not be in any
way hurt lie also said that the plans
10 consolidate the Soaboard Airline. the
Georgia and Alabama, and the Florida
Central and Peninsular into the Seaboard
System were almost completed
OWING TO the fact that Mr.. Edwin Gould,
The new president and former vice
president, was hostile TO Messrs. Beall
ana Mcintyre, the affairs OF the trust
company did not heretofore move smooth
Is Nh. Gould is also director
OF the Southern Railway Company.
The trust company aided largely in
financing the scheme 10 consolidate the
three lines into the Seaboard System.
Friends of the SeabOard feared that Mr.
Gouids interest in the Southern had
caused him TO take the desperate step Of
putting the trust company fiat of its back
IA order 90 cmbarrass the SeabOard But
Mi. Gould is understood TO be in thorough
accord with the new officers and To have
no feeling of antagouism towards the
Southern. General Thomas is a Georgian
and at one time was Interested in the
Southern but 10 is said that he is now
opposed TO that interest
The New York Tribune of yesterday, in
St. account of the reorganization of the
trust company, says:
William Nelson Cromwell, of counsel TO
the special committee. said yesterday:
'"The rehabilitation of the Produce EN-
Change Trust Company involves no sale Of
Airline nor any other securities"
Ii was learned unofiicially that Gen
eral Thomas and Mr.. Gould were satisfied,
after their experts had made a careful
examination of the trust cOmpany's books
ana securities. that not only was the cap
ital of the company unimpaired, but that
within less than a year these securities
would probably be worth the price at
which they were appraised when they
talr a.
understood further that MessIs. Gould
and Thomas are advancing the necessary
funds 10 the trust company on the Sc
curity OF the stOeNs and bonds OF other
corporations I'm possession of the Pro-
duce Exchange Trust Company as collate-
raj for loans.
IL Will not be many weeks now before
the Richmond, Petersburg and Carolina
bridge VIII span the James at this city.
The false work for one span is already
In position. II can be placed very rapidly
though not much more so than the
iron work when once a start is made
The trestle through the city from the
Richmond, Fredericksburg and Potomac
10 the bridge vii, be ready by the time
the bridge Is completed II is probable
that all the line from Richmond 10 Ridge
way. including all the bridges. viii be
ready for trains by the time the Rich
mond bridge Is completed.
AT q directors meeting IN New York
yesterday. Mr. Decatur ANlell. second
vice-presldent OF the Chesapeake and Ohio
Railway Company, was elected president
OF the Toledo and Ohio Central Railway
Company. IL is believed that this rail-
road will be controlled by the Chesapeake
and Ohio interests. giving the latter road
practically an additional through route
10 the lakes.
The work Of driving piles for the lower
irestle OF the Chesapeake and Ohio 20
extend from the Cedar Works along Dock
street 20 connect with the viaduct near
the warehouse Of Davenport & Morris. Is
progressing rapidly.
The lumber 10 be used In the cOnstruc-
non ~ TIE temporary trestle OF the Rich
m'na Petersburg and Carolina through
Inc city from the river to Broac street.