Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1909-03-23
PARROTT
TAKS OF A., b. L. A.

As forecast in Fridays Journal, Vice
President Preston S. Arkwright resigned
as co-receiver with President H. NJ. At
kinson for the A. B. and A. railway, and
S. F. PARROT, president of the Atlantic
Compress company. in Atlanta, was
named in his stead by Judge Pardee at
New Orleans, Friday. The order of Judge
Pardee makes Messrs. Atkinson and Par
rott permanent receivers for the road
This action restores harmony among
the A, B. and A. interests, and 1t Is
said will enable the company to secure
the necessary money for adding the last
details of completion to it's railway sys-
tenn and to provide for further i'm
provements. Mr.. Arkwright's voluntary
retirement gave the bondhOlders the OPP
portunity they have sought to name re-
ceiver representing their own interests.
Receiver PARROT, seen by a Journal
representative Saturday morning, says
that he is not conversant with the road s
present status in detail. He does not
know, therefore, he says, of any ! i'm
provements contemplated by the system
OF of any loans that are sought
Mr.. PARROT recalls, however, that
there are yet is miles of track to be laid,
from Pelham into Birmingham. This Is
in the nature of last detail in the COM
pletion of the system. The road must also
nails in Birmingham. 1t is now using
the tracks of the L, and n. into that
city, and the L. and n. is also furnish
ing it terminal facilities.
Mr.. Parrot comedies with the general
view in accepting his appointment as a
compromise of fractional differences. He is
not too modest to admit that as railway
man of experience he has learned lessons
that will give him confidence in his new
duties.
Asked if he owns any stock in the A.,
B. & A. railroad, Mr.. PARROT says that
he does not The A, r. & A. company,
he says, is a minor stakeholder in the
Atlantic Compress company, which is
owned by ten railroads. That is the on
ly connection between the two compa-
MES, he says.
No changes are contemplated by Mr..
PARROT in either the personnel or policy
of the A, B. & A railroad during his CO.
receivership with President Atkinson. Mr..
Parrott says that he does not believe in
making changes just for the sake of
changing, and that he expects to continue
with the A, B. & AS arrangement as he
finds it.
Mr.. Arkwright rendered his resignation
as receiver under the old bill and Mr. Sam
F. PARROT was appointed by the court in
consolidated.
Mr. Slaton, speaking for the Trust com
pany, stated to Judge Pardee that the
Old Colony Trust company recognized the
high capacity and qualifications of Mr..
Arkwright and, at the direction of his
client, expressed the wish that the re-
ceivers might be able to have the benefit
of Mr.. Arkwright's experience and ability
under such arrangements as might be
satisfactory to him. Judge Pardee was
very complimentary in his statement to
Mr.. Arkwright.
In the course of the reorganization and
the financial steps necessary to accom-
plish it Mr. Arkwright would be disquali-
fed to act in such reorganization while
receiver. The matter is a technical one
requiring the independence of the receiv-
ers in the matter of reorganization.
1t is expected that in the reorganization
Mr. Arkwright will be a conspicuous fac
tor
The suits will proceed in the usual
course and steps will be taken looking
to the reorganization of the properties.