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CENTRAL RAILROAD
REORGANIZATION.
Important Decree of Judge Speer’s
Not Before Published.
It Is Highly Interesting to Stock
holders in All the Lines.
Their Securities Made Subject to Reor
ganization Charges.
The Chronicle publishes below a«j
order by Judge Speer in the reorganiza
tion of the Central railroad which was
given on January 25, and Which is high .
Iy interesting and Important, but which
Inta heretofore escaped publication. Ihe
official document is given la-low in lull
In brief, an agreement was entered
into January 251 h by Judge Speel, ol
tin- United Stall's District Court. Hr
Southern District of Georgia in behalf
of the Central railroad providing l” r
securing a new loan of $600,000 from)
the Mercantile Trust Company, of New,
York, trustee, and 11. B. Hollins & Co.,
and for confirming previous loans from;
Hollins A Co. of $3,898,206. W, and
from the Mercantile Trust Company
of New York, for $705,(H53, the Urea
loans aggregating $5,194,269.
Hollins & Co. are to control nil secure
ties deposited with the reorganization
committee. The Central railroad
pledges everything it owns-stocks,
land and leases to secure payment ol
the loans above enumerated from Hol
lins & Co. and the Mercantile TmpC
Company. The securities deposited
under the plan of reorganization urn
made liable for all charges incurred in.
promoting re-organization, and charges
to be passed upon by the court.
In the fifth Circuit Court of the I " 1 '
State* tetr Uhe laasteru Ptvi.smu
of the Southern District ol U•» g m-
U ’l ml" Kwh-omi' 1 ami Banking
of Georgia el. al.-The Central It -
mad and Banking Company of bai
-■in vs. The farmers' Loan ami llllst
Company, of New ) m-k, et al. La
Fifth
Circuit Court of the I lilted States for
the Eastern Division ol the Southern.
District of Georgia:
The petition of 11. M. Cornel .1
,-eiver of the Central Railroad and Bank
jug Company of Georgia. restmet uly .
rhows Ip the court, that under and >
virtue of an order dated Januaij HHh,
15 93, he proceeded to the city ol New |
York', and there entered into a contrivl
In nceordam e with the terms ol saul (
order with the Mercantile I ritot Com
’.any and with 11. B, 1 lolhns A Co. ns ;
agents and attorneys in fact of a sy n H
cate of lenders, and now submits the
agreement and the exhibits atCielied
thereto made and entered into on the.
19th .lay of January. 1893, and asks
X'Sr 1 a. M ,r ‘coM™.“
Receiver.
Lawton A Cunningham, Solicitors for
Petitioner. ,
The foregoing petitiCl rend and con
sidered, and it is orlh-red anti
that the said contrail, be, mid is, heresy ,
approved and confirmed. In open Court,
January 25th. 18931
yMUIST SPEER. Judge, j
•• of agreement made and,
entered uno the 19tfi day ot January,,
J 893, between 11. M. Comer, as Re-;
■•elver of the Central Railroad and Bank,
lug Company of Gvmrgta, appomte. -y
the Circuit Court ot the United Stall...
tor the Eastern Division of the Southern |
DtHU'iet of Georgia., by order dated
July 15th, .1892, hereinafter called the
Receiver, party of the first part; and
lhe Mercantile Trust Company, a
poration existing under the laws ol he
State of New York, as trustee, hen -
lifter called the trustee, party ot th*,
eeeond part; and 11. B. 1 olltns A Go,
of New York, as general agents and
attorneys in fact of a syndicate of len
ders hereinafter referred to as lhe syndi
cate, parties of the third part.
Whereas, The receiver has negotiated
*
>i«ua
the erms ami conditions lieremaltei act
I ’whereas. Upon application duly made
the Judges of the Circuit. Court of
the United States for lhe Eastern Divi
sion of the Southern District of Geor-.
gia by the said Receiver, said Receiver
U'is been authorized, by order dated
Januarv 10th. 1893, to negotiate said
loan upon the terms and conditions here
inafter set forth, and to execute tins
auTuviuoirt ; tixivl ,
Whereas. It i* desirable that the trus
teo should be the depositary and holder
of the stock, bonds, securities and other
nrouertv hereinafter conveyed and as
signed, and should hold the same lor
the benefit of all parties interested, and
issue trust certificates therefor.
Now this agreement, witnesseth:—
1. 'rhe syndicate agrees to loan to
said Receiver, upon the signing of this
agreement, the sum of six hundred thous
and dollars '($600.(K)(>) on lhe Henns
thereinafter sot forth.
•| The Receiver hereby agrees to re
pay on the Ist day of July, 1893 to the
trustee, for and on behalf of the syndi
cate in gold coin of the United States
of or equal to the present standard of
weight, and fineness, the said sum of j
six hundiasl thousand dollars ($(100,0001. L
with interest thereon in like gold coin;
the rate of ti per eent. per annum;
from the date of this agreement, until
paid, said prieipal and interest being
payable simultaneously in New York;
city at the office of the trustee.
;i. In order to secure the repayment;
of said loan, with the interest thereon, I
the party of the first part hereby grants,;
bargains, sells, conveys, assigns, trans- i
fers. sets over and delivers unto the
trustee for and in behalf of the syndi-|
rate all of the stocks, bonds, securities, I
choses in action and real and personal
property set out and described in the |
paper hereto attached and marked Ex-;
Mbit A: subject, nevertheless, to the j
provisions, conveyances, assignments,!
transfers or pledges (so far as now {
subsisting) of any or all of said property;
as described in the said Exhibit. A. It
Is the meaning and intention of this;
conveyance to convey in trust to the i
said trustee all of the equity of redemp-;
tion and all interest and right of every 1
kind of which the said Receiver and the
said Ra'lroad Company, or either of
them, have now or may hereafter have,
in and to any and all of said property
and also to assign, transfer and set over,
to the trustee, so far as may lie legally
done, the leasehold interest of the Rail
road company, and the said Receiver in
and t' till of the railroad properties
he’d »*ki onerated by ho said Railroad
and the said Receiver under the con
tracts of lease or assignment of lease
Xo deposit or deliverv of leases beyond
this sbn.n he made. Snch of the seenri
and other property described in Ex-
hi bit A us are not pledged already for
pre-existing loans may be deaposited by
tlie Receiver either uitb the trustee here
under or with tue boutheru Buux ot
the State of Georgia, ut Savauuali, Ga„
as the agent amt representative of the
trustee; or the said Receiver ahttU, us
to such securities as are marked in Ex
hibit A, "to be held by the Receiver."
give to the Trust Company u ceri.licule
that the same when reduced to posses
mull will be held by him lor the account
of the trustee under lhe terms of this
agreement; and such deposit with the
Southern Bank of the State of Georgia,
or such certificate on behalf of the lru»
tee, shall be received by the trustee as
a depos't of securities and property here
under iu nil respects us if the same
were in the actual possession of said
trustee. J’.ut the trustee shall hiivu
no responsibility for the custody of any
securities not physically deposited with
it. The trustee shall not be required
to become u stockholder of record. of
liny <>f the stocks described in Exhibit)
A. bin. shall accept as complete delivery
aud deposit the deposit ol slock certified
with power of attorney for transfer en
dorsed thereon or attached thereto.
4 The Recoiver will hereafter, and
from time to time, make, execute and de
liver such other and further ti-suraiiceiy,;
conveyances, transfers and assignments.;
in order to make this agreement ab-i
solutcly cfl'cetive. and especially as to>
future acquired or vested property, lis
counsel may advise or as may be meet
and proper.
5. The property herein and hereby
conveyed, and the interest aud equity ;
of said Railroad and said Receives;
therein, shall be held by the trustee a*
security; first, as before stated, for the
loan provided for in I'hjs agtns-inenl
and beyond that shll he held as further;
and additional security for the follow
ing indebtedness and charges, jniri P' lss j l '
towit: The loan of October itb, 1892,
pavuble with interest and commission
on’ July Ist, 1S!I3, for the sum of .83.-
889,290.84, duly made by 11. B. Hol
lins & Co., of New York, ns agents
and managers of a syndicate of lenders,
imide under lhe order of the Circuit
Court of the United States for the East
ern Division of the Southern District
of Georgia, for the imrpose of taking
up and satisfying the loan known as
the Spevor loan; aNo of a loan inado
by the ' Mercantile Trust Company, of
New York, to the Railroad Company
under an order grunted December 19th.
1892, for the sum of $705,053, payable
with interest and commission July’ Ist..
1893. But. said property shall not be
held as further security for said loan of
Oelober 7th. 1892, or for said loan of
the Mercantile Trust company for $705,-
(1(13, except on the following terms and
coiMlitions:
(1) Anv creditor representing any por-i
t.ion of said loan of $3,889,200.84, and
the MorcanJtilrt' Trust Company as _a |
creditor representing said loan of $(05,-|
OG3 may nceept the terms hereof, such
acceptance to be evidenced by the de-j
posit hereunder of the securities secur
ing his or its portion of said loan on or
before the 24th day of June, 1893, with
said Trust Company, and shall thereby
heconMV an assenting creditor mid be
entitled to the benefits of the pledge;
of the property hereby made; but sm-li.
I reditors so accepting the terms hets ol
and said Trust Company shall be also
bound by the following terms end coudi-j
tioiiH: :
(2) If the said loan of $600,000 _and,
said loans of $3,889,206.84 mid $705.-)
063, or any of them, or any part ot any
of them .shall not be paid on the Ist]
day of July, 1893. the property mid.
equities pledged liereuudor and all lt \
securities held against unpaid loans du<\
bo said assenting creditors slhall be
sold together, and the proceeds thereof;
shall be applied to or towards
(a) The extinguishment of said loan)
of $600,000; aud
(;1>) To 'the .i',vt.ii.igni»liineiit >of the
claims of said' assenting creditors.
(3) If the said property ami equ tios
shall be bought in llv said Trust Com-,
ptuiy for lhe account of lhe loaners of;
the said $600,000, mid of said assenting;
creditors, the same shall be held by the
trustee for the period of one year from
the date of sale subject to redemption)
by the repayment to the trustee of the
said several loans, with interest at six
per cent., at any time within such period)
(in like order of payment, of amounts 1
due as is herein provided for the repay
ment of said three loans) by the eotM-;
mittoe now engaged in the reorganiza
tion of the property of the Central Rail
road and Banking Company of Georgia,
and of its allied properties, or any un-)
del-writing or guarantee syndicate formed
under the auspices and in aid thereof,
and thereupon such committee or .syn ;
diente shall bee.ome vested with silo)
said collaterals, but in case of the fail-!
ure of said reorganization committee or)
said s.vndieate to exercise such right
of redemption within six months from
the purchase of said property and eqnt-i
ties, as herein provided, then such right)
of redemption may for the remaining)
six months of said period of one year;
be exercised by said Receiver.
(4) The Meri-ttutile Trust, Go. noting!
on behalf of said reorganization commit-)
tee or any underwriting syndicate form-;
eil under the auspices of and in aid;
of said reorganization eoumiitteo or act
ittg at the request of the creditors now
advancing said $6(X).OOO. shall have the
right at any time before July Ist, 1894.)
to purchase any or all of the mat tired
or unmatured claims of any assenting;
or nou-tlsseiiting ereilitor. ami such pur
chase or payment of said loans shall
not operate to extinguish the same, but
the payor or purchaser thereof shall,
be subrogated to the rights of such as-)
seating ereilitor thus paid, and shall be
permitted in respect of the claim of any
non-assenting creditor to enjoy and ex
ercise (subject. Itowovqr. to the like;
terms and upon the like conditions),)
i,u all respecitst the privileges herein-;
provided for the benefit of assenting;
creditors.
6. Subject to the liens hereinbefore!
described in Article 5. the said securities;
and property in the hands of the trustee;
shall be chargeable with a lion for and;
may be used by the reorganization com
mittee of the Railroad Company as a
fund for the payment of any and all;
charges and expenses to be paid or in-)
curred by them in promoting such plan;
of reorganization as may bo finally ac-'
ceptcd by them, said charges and ex--)
ponses being first apnroved by the (’ir-)
euit Court of the United States for the;
Eastern Division of the Southern Dis
trict of Georgia in term, time or vaca
tion.
The Receiver, as evidence of the loan!
to l>c made hereunder, will make ami
deliver to the trustee a promissory note,
for the said sum of six hundred thoiis-!
and dollars ($690,006). with interest!
thereon: said note to be substantially!
in the form set forth in Exhibit B here
to attached.
8. The trustee will at the time of the )
payment of the money by the members ;
of the syndicate, deliver to the members !
severally trust eerticates representing!
the amount so paid or advanced by them.
[the said certificates to be substantially)
) in the form as set forth iu exhibit C. )
; attached hereto.
9. The said trustee is hereby author- ;
) izod and empowered to, and upon the ;
) written request, of the parties of the third
) part and upon proper indemnity shall
i from time to t ime use in such mail- i
• nor as shall be so requested by said )
{third parties, all or any portion of the )
; stocks and bonds and other property >
; hereby conveyed to acquire the owner- |
ship of the respective corporations of ;
which they are or form a part of the )
capital stock, or upon which they are )
secured by mortgage or otherwise, when- ;
ever iu the judgment of the parties of I
THE AUGUSTA CHRONICLE, APRIL 12, 1893.
the third twrt by reason of forecTosnrc
proceedings or otherwise tbu protect ion
of lhe said stocks and bouds requires
them to bo used: it being b“reby ex
pressly agreed that any stocks or
bonds which may accrue to the stocks
or bonds so used by reason <)f any re
organization of the respective corpora
tions, shall remain to the said trustee in
place and staid of the stocks and bonds
so used, subject to all the terms and
provisionn of this indenture ns though
they had been originnly conveyed herein.
10. In ctuse default shall be made in
the payment of any or all of the amounts
due liereitmler. whether reprcHOnted by
the said note of the parties of the first
part, or by trust certiticatas issued by
lhe trustee, and whether said default,
be in principle or interest til the ma
turity of the said note or oertificuitcs.
then the said trustee shall have full
power uud authority to sell, assign ami
deliver, ami, upon the written request
of the parties of the third part olid upon
proper indemnity, the trustee shall sell,
assign aud deliver the whole or any
pa it of the property and cqnitie- herein
pledged or any substitute therefor or
additions thereto, at any broker's board
or at tiny public or private stile, nt the
option of the parties of the third part at.
liny time or times thereafter, without
advertisement or notice to the said rail
road company or Receiver, and with
the right on its part, and on the |>irt
of tiie holders of the trust certifbx'ite
issued hereunder, or any of them, tn be
come imrcluisers thereof at such stile or
s.ilcs, freed and discharged of nny equity
of redemption except ns herein oth<r
wise provided; and, after deducting all
legal and other costs or expenses for col
lection. sale and delivery, the trustee
shall apply the residue of the proceeds
of such sale or sales so made to pay
the obligations existing hereunder, re
turning the overplus to the said Re
coiver: but the said Receiver shall never
theless remain liable for any amounts so
unpaid.
11. Upon pnymont in full of all the
obligations hereunder, the trustee shall
return to the said Receiver, without un
reasonable delay, all of the property
and equities herein conveyed.
12. The trustee hereby accepts the
delivery of the said property and assign
ment of the equities hereinabove made
by the Receiver and accepts the trusts
hereunder, and agrees to perform the
same, but shall not be responsible for
anything except its own wilfull default
or misconduct, and shall receive a fair
eompensiition for all services renderi-d by
it to lie paid by the party of the first,
part, and to be a first lien on the pro
ceeds of the property herein eamveyed.
13. The Receiver covenants and
agrees to and with the thirties of the
second and third parts that: out of the
num of money loaned to him hereunder
he will cause to he paid, without un
reasonable delay, the following sums,
towit: Eighteen thousand five hundred
dollars Io be paid to the syndicate repre
sented by Messrs. II«» B. Hollins A
Company, who made the loan of $3.589.-
206.84 on October 7th. 1892. said eight
een thousand five hundred dollais hav
ing been paid by said ayndi<<te to
Sjieyer A Company for the expenses in
curred by the butter: and also the sum
of fifteen thousand dollars to be pc J to
Adrian 11. Joline tor professional ser
vices rendered by him.
14. If for any reason any of th? proper
ties. assetsand franchises of the Railroad
Company, or any of its allied po.p'r
ties should before July 1, 1893. be d
creed to be sold by any court under any
lien now existing thereon or hereatter to
be created thereon, then nnd in that
event the loan herein agreed tn be made
and the said loan of $3.889.2<H;.54 and
the said loan of $705,063 togcth|| with
the interest upon all of the sain hems
and the commissions attached thereto re
spectively shall be nt the option of the
third' parties each and till of them b<*-
come due nnd payable at once uptin the
rendering of such decree,
15. Eor the purpose of expediting nnd
furthering lhe reorganization plniawhich
’is contemplated, the parties to these
|.r«-s,-uls eon-enanits and agree
trtistee shall, when rostuesti-d *
parties of the third pint, ami will) Jhe
consent and approval of the receiver
from time to time, amt without any
further :q>plic.nfion to the court, (merge
and consolidate all of the said loans
nlmve named and may) deposit the se
curities and other property atlacbed to
the said loan, herein deserils-d or any
of them, whether merged or not. with
the party of tin- second part as trustee
or with some other depositary, agreed
upon as the trust's' of a re organization
plan, tuiid receive in lieu thereof liege
liable certificates of the said trustee,
such deposits to be made and to be
represented by certificates in the same
iit.'i.imcr mid with the same ellect its
the several securities of like issue may
be deposited aud represented in accord
ance with said reorganization plan; and
the said certificates so issued shall stand
in the place and the stead of the securi
ties so deposited respectively.
16. Whenever any of the nrnneys
raised herofnider shall be used to pay
off any otiter loan or claim secured by
the pledge or hypothecation of securities
or shall be used to acquire nny other
securities, then nil the securities so re
leased or discharged, or otherwise ac
quired. shall immediately stand and be
hold as further and additional security
for the loan made hereunder aud iso tar
a< assented) for the said loan of $3,889.-
2()6.'84 twul of $785.(M>3.. as if pnrtii ularly
nti-nfioned in Exhibit A. hereto attached.
17. In all matters here under in which
the syndicate is interested. Messrs. 11.
B Hollins A Company shall bo treated
mid considered as general agents aud at
torneys in fact "f the said syndicate,
and authorized to act for them.
In witness whereof, the parties of the
first mid third parts have hereto set
their hands mid seals mid the party of
the second part has oatised thes' pre
sents to be signed by its v-ee president
and its corporate seal f > bo herto affixed
all Iteing done in triph.-ate on the day
ami year first above written.
Executed in the presence of IT. Armi
tage Matthews.
11. M. COMER.
Receiver of the Central Railroad and
Banking Company of Georgia.
11. B. 1101.1.1X8 A CO..
Os New York, as General Agents and
attorneys.
ED. L. MONTGOMERY, A’. P.
(Meremilile Trust Co.'s Seal.)
Attest: 11. C. Deming. Sec.
EXHIBIT A.
| 1. Collaterals now pledged with Hanover
National Bank of New York to secure
loans aggregating S2O().(M>9. B!>.”.ik>9
Consolidated mortgage bonds. Central
I Railroad. $138,009 Mortgage bonds.
Alobile uud Girard railroad. $26,000
First, mortgage bonds. Savannah and
YY'esteru railroad. $500,009 Note New
England and Savannah Steamship Co.
4.995 Shares Stock New England and
Savannah Steamship Company. 4.312
Shares stock Atlanta and YYest
Point Railroad Co.
{ 2. Collaterals pledged with Central
) Trust Company, of New Y’ork. to se
cure loan of $100,600. S2iK),OOO First
.; mortgage bonds, Savannah and YVes
tern railroad.
i 3. Collaterals pledged to the Southern
Bank of the Slate of Georgia. Savan
nah. Ga.. to secure loan of $199,909.
S 100,000 Consolidated mortgage lemils
Central Railroad. $100,009 First
Mortgage Bonds, Savannah and YY’est
eru railroad.
4. Collaterals pledged to the Mercantile
Trust Company of New York t > se
cure loan of $705,063. $117,000 Mort
gage bonds. Mobile and Girard rail-
i rood Company. $1.400.0<t0 First Mort
gage bonds. Savannah and YY ecern
Railroad Company.
5. Collaterals pledged to H. B. Holins A
Co., managers aud agents and others,
composing syndicate, to secure loans
aggregating $3,889,206.84. $335,000
Mortgage bonds, -Mobile and Girard
RaUroud Company. $7,807,000 Con
sol Mortgage bonds, Central Railroad.
$410,000 Mortgage bouds, Port Koval
and Western Carolina Railroad. $30,-
007.(50 Shares stock. Savannah and
YVestern Rttilroaii.
6. Colluiteruls pledged to the Georgia
Railroad and Banking Company to
secure obligations under its lease.
$953,000 General Mortgage bonds,
Port Riyal and Augusta Railway.
1.108 Shares Stock Southwestern
Railroad Company of Georgia.
7. Collaterals pledged to Central Trust
Company of New Y'ork to secure
$5,000,000 of CoUMeral Trust Bonds,
dated May 2. 1887. $1,460,000 First
Mortgage baruin, Fort Royal arid nesi
ern Carolina Railway. 1,454 Shares
stock Atlanta aud West Point Rail
road Company. 6.140 Shares Stock
Montgomery and Eufaula Railway.
19.950 Shares Stock Ocean Steamship
Company ot Savannah. 15,000 shares
stock Western Railway of Alabama.
SECURITES AND PROPERTY UN- )
PLEDGED.—BONDS.
2,000.00 First Mortgage bonds, Savan- 1
nah and Western Railroad Company ’
with Central Trust Company to await .
coming in of Chnttauooga, Rome and )
Columbus railroad bonds, to be held 1
by the Receiver. I.tKKI Consolidated
Mortgage Bonds, Central railroad, in
possession of Central Trust Company )
of New Y'ork, to be held by the Re- |
reiver. $213,300 Genial Mortgage I
Mortgage Bonds, Royal and Au
gust.'i Railway Company, to l>e de
liv.-red to trustee, ami $1'1,300 of same i
to be held by the Receiver. SIO,OOO
First Mortgage Bands. Sylvania Rail
road Company. $25JM$> Firt Mortgage
Bouds. Tnlbotton Railroad Company.
s2sJhh» First Mortgage Bonds, Louis
ville and Wadley Radroad Company.
$129.31H> Second Mortgage Bonds,
Augusta, Gibson and Sandersville Rail
road Company.
STOCKS.
60 Shares Stock. Montgomery and Eu
faula Railway Company, to be held by
receivers. 50 Shares Stock Ocean
Steamship Comptuty of Savannah to
be held by Receiver. 242 Shares Stock
Southwestern Railroad Company of
Georgia. 182 Shares Stock Augusta
ami Knoxville Railroad Company. 2
Shares Stock of Agricultural ami Me
chanical Association, to be held by the
Receiver. 69 Shares Stock Macon
Street Railway. 4,015 Shares of Port
Royal and Augusta Railway Company.
1 Share Stock Savannah Cotton Ex
, btinge. 1164 Shares Stock Upson
County Railroad Company.
2 suit Shares Preferred Stock. YY righte
'ville and Tennille R. R. Co.. 10 Shores
Common Stock, Wrightsville aud ’leu
nille R R. C". 6.940 Shares Common
Stock. Port Rovnl ami Western Caro
lina Ry. Co 1,840 Shares Preferred
Stock. Port Royal and Western Ctt.ro
liti't Rv Co. -00 Shares Stock, Cen
tral It. R. A Banking Co., of Go. ;
2,500 Shores Stock. Savannah aud At
lant.ie Ry. Co. 2'Ht Shares Stock, 15.00 )
einhl Augusta Exposition Co. to be
hold bv the R'M'eiver. I Share Stock.
Mempliis Cotion Ex'-li'inge, to be held
i,v the Receiver. 2.51.'. Shares Stock.
Chattanooga, Rome A C<>lu.mbus R. 11.
8,162 Shares Stock. Mobile and G>-
rard R. R- Co. 10 Shares Stock. I led
nmnt i-Ixposition Co., to be held-by
the reeoiver. Capital Stock of title lu
laski Investment Company, to be beta
bv the receiver.
LEASEHOLD IN 1 I.REBIS.
In the following corporations:
The Southwestern R. R- ' ~f * , "' lr , ! }. l . a '
The Augusta ami Savannah K. K. lhe
Eatonton Branch Railroad lhe Mo
bile and Girard Railroad Cm Hie
Macon ami Northern Itailway (o ; Tbi
Georgia Railroad and ’.tinknig Co.
Original papers b<> be bold bx the Re-
CC MIS(' F.I ,T. A NE( >FS I 'ROPERTY.
Sundrv lots of land, with the improve
ments thereon, at various places, title
deeds of which are to be held by the Re
ceiver until conveyances are perfected.
EXHIBIT 15.
Form Os Note. Gold
New York. January, 18J3.
Eor value received, 11. M. Comer
as Receiver of the Central Railroad)
aud Banking Company of Georgia, acting
in this behalf, under tile order ot the
Circuit Court of the United States for
the Eastern Division of the Southern;
District nf.Georgia, granted January;
loth ls'.t3, promises to pay to the Mer
cnntile Trust Co., trustee, (under an;
agreement entered into January , 1893,1
between II- M. Gomer, as Receiver!
of the Central Railroad aud Banking;
(company of Georgia, the Mercantile
Trust Company, as trustee, and 11. B.
IlolliiiH A Co., as general agents and.
aWoriteys in fact), or order, on July’
Ist, 1.893, at the office of said Trust
Company, in New York City, six hun
dred thousand dollars in gold coin, of
or equal to the present standard of
weight ami fineness, with interest there
on from date al the rate of six per cent,
per annum until paid in like gold coin.
EXHIBIT C
Form of Trust Certificate.
No. 1. $ Gold
The Merchantilc Trust Company, of:
New York, as trustee, hereby certifies 1
that. has paid and ad-!
vanceil dollars out of a total
sum of six humlreil thousand dollars ad
vtinced by a Syndicate of lenders to II
M. Comer, as Receiver of the Central ;
Railroad and Banking of Georgia, under
the terms of an agreement, entered into
January . 1893, between the said Re-
ceiver. party of the first part, the Mer- !
cantile Trust Company as Trustee, party
of the second part, and 11. B. Hollins &
Company as general agents and attor
neys of the Syndicate, parties of the
third part, which agreement provides
that the amount last above named shall
lie paid on July Ist.. 1893, by said party
of the first part with six per cent, inter
est from the date of said agreement until
paid, the said principal and interest be
ing payable in gold coin of the United
States, of or e»pial to the present stand
ard of weight ami fineness, and payable
to the Mercantile Trust. Company of New
York. :;s Trustee, and further provides
that such payment shall he secured bv
Die Receiver by pledge with the said
Mercaurile Trust Company, as Trustee,
of certain stocks, securities and other
property described in said agreement, in
trust, for the holders of certificates, ns in
said agreement set forth.
Tltis certificate is transferable only on
the books of the Mercantile Trust Com
pany by the registered owner thereof or
his duly authorized agent, upon surren
der hereof duly endorsed.
Dated at New Y’ork this day of ,
1893.
MERCANTILE TRUST CO., of N. Y..
Trustee, by President.
INDORSEMENT.
In the United States Circuit Court
of Eastern Division of the Southern;
District of Georgia.—Term. 1893.
Rowena 31. Clark et al vs. Central Rail
road and Banking Company of Geor
gia et al. —Central Railroad and Bank
ing Company of Georgia vs. Farmers'
Loan ami Trust Co.—Petition tor
[ approval of agreement of January
I'.tth, 1593- Filed iu oilice this 25t;
January, 181 C.
S. F. B. GILLESPIE.
Deputy Clerk. U. S. C. C.
Lawton A Cunningham. Solicitors for
United States of America. Eastern Divi
sion, Southern District of Georgia—SS.
1. Lenoir 31. Erwin, Deputy I Jerk of
the Circuit Court of the United States
of America for the Southern District
of Georgia, do hereby certify that the
writing annexed to this certificate is a
true copy of its respective original one
i on file, and f'emaiuing of record in my
office, towit: Petition for approval of
agreement of January 19th, 1893; order
of court approving, and agreement be
tween H. 31. Gomer, Receiver, and the
Mercantile Trust Company and H. B.
HoUluh & Co,
In witness whereof, I ha tie caused
the Heal of the said court to be hereunto
affixed, a.t the city of Savannah, In the
Southern District of Georgia, this 29th
day of March in the year of our Lord one
thousand eight hundred and ninety three
nnd of t.he Independence of the United
States, the one hundred and aeventeeuth
LENOIR M. ERMTN,
Deputy Clerk.
THE CAROLINA
SQUABBLE.
Washington, D. C., Dec. s.—(Special.)
The South Carolina senators aud repre
sentatives were on the war path today.
The conference with the postmaster
general, iu which reform aud reform
members participated came very near
terminating in a personal difficulty. At
times the debate *was hot and exciting.
There were present Messrs. Bissell and
Maxwell, Irby, Butler, Talbert, Strait,
Latimer, Shell, Hemphill uud John
stone.
The purpose of the conference was to
allow Messrs. Stuart aud Latimer to
dear themselves of the charge of Third
Far yism preferred against them at the
postofiiee department. The debate was
opened by Mr. Hemphill. His arguinenit
consisting of a resume of the newspaper
charges already published and the posi
tion tlmt tippuuaitmeut to office was not
the exclusive perogative of congressmen.
The department having reserved rights.
Mr. Joluistoue followed iu the same
Line, directing special attention to Lati
mer’s alleged connection with St.
Louis and Omaha conventions aud 'Third
L’artyites now iu the state.
Mr. Talbert, ou invitation, adoresseu
himself to maintaining his Democracy,
asserting that it was always of the same
quality as that of the state aud national
purtv. He said it was mortifying to him
to be placed in the pillory and go l>e
fore the public xvtlh associates cliargeii
with political heresy. Mr. Shell
and stradled the fence. Then Senator
Irby spoke. . ~
He Spoke as the chairman of the Cen
tral Democratic Uommiuete of South
Carolina. His speech was an able, ex
haustive and yet concise review• ot
the conditions existing in South Carolina
after the nomination of CMeveland, ami
out of which the present personal cliar
ges against some of the state s congres
men had arisen. He did not kteek to
touch the opposition with any pluase
cakulated to intimate any comprouiiaa
after their arraignment of Latunen.
straight, ami McLaurin. He maintained
that ti>e elections iu South Carolina,
whether primary or final were conducted
bv him aceordiug to the rules Os the
Democratic party, and that if there
were any bad faith or broken pledges
that they could not be charged to the
successful eamlidates. He called at
tention to the fact that the Dvunocraey
of the reformers was not challanged
until Mr. Cleveland’s election offered the
hope of a few crumbs of patronage to
the anti-reform elemient. Ho layed
special stress and emphasis on the in
consistent position assumed at this day
by Democrats who followed the inde
pendent movement, headed by A. C.
Haskill, against the regular Democracy
in 1890, nml the position they now as.
snrne of charging regularly nominated
nnd eloirieil Democrats with being
Third Partyites. II" also called special
attention to the fact that the Haskell
movement and its adherents called to
their support t.he Repulilicau negroe.*mf
the state to overthrow itbe regular De
mocracy.
This of course, is only a very brief
synopsis of Senator Irby's remarkably
clear, logical and impressive defense of
the Democracy as it is now organized in
South Carolina. He challenged contra
diction of a.ny statement he had made,
and said he was personally responsible
for any allusion or facts brought out
in the course of his remarks. He spoke
distinctly, but impetuously. Those who
heard him say that his speech was suffi
cient to establish his reputation as an
eloquent, nnd logical retisoner and
speaker. He handled the subject and
lhe accusers with gloves off. There was
of conrse, a good deal of heat in all of
the discussions, but the personalities will
probably bo soon forgotten.
Senator Butler, who was invited by
Senator Irby, in deference to his senior
ity, to speak before him. declined ami
closed the debate. He expressed his re
grets that the difference should have
arisen: that heretofore he had not in
terfered in local patronage, but he an
swered that he had been treated discrim
inately by Strait ami Latimer, iu their
failure to give his communications con
sideration. Dr. Strait asked him if he
considered him (Strait) a Democrat.
FUmator BfiTler replied that Strait
must vindicate Ms own democracy, to
which Strait said he did not care whether
Butler endorsed it or not.
Messrs. Hemphill ami Johnstone in re
ply. said that they advocated Tillman in
their speeches after his nomination, to
which Senator Irby rejoined that it wak
the first that he had heard of it.
Tii* official record will be given to
Postmaster Bissell tomorrow evening. It
is generally believed here from the nt
terrtnes of the postmaster that he can
not fail to see the correctness of the po
sition set forth by the chairman of
South Carolina, and to remove Messrs.
Strait and Latimer from the black list.
THE ONLY ONE EVEK PRINTED.
Can Yon Find the Word.
There is a 3-inch display advertisement in
this naper this week, which has no two
words alike except one word. The same is
trne of each new one appearing each week,
from the Dr. Harter Medicine Company.
This house places a "Present” on everything
they make and publish. Look for it, send
them the name of the word, and they will
return you Book, Beautiful Lithographs or
Samples free.
CLAY'S SUCCESSOR DEAD.
Louisville, Ky., April s.—Ex-Governor
David A. Merriwether, the successor of
Henry Clay in the senate, died yesterday
at bis residence 7 miles below this city in
his 93d year.
RELIEVES all Stomach Distress.
REMOVES Nausea, Sense of Fullness,
Congestion, Pain.
REVIVES Failing ENERGY.
RESTORES Normal Circulation, and
Warsis to Toe Tips.
DR. HARTES MEDICINE CC., St. Louis. Mo.
Hood’s_Cures
Terrible Headaches
Distressed and Discouraged
Health all Broken-Thoroughly Built
up by Hood’s Sarsaparilla i
. Jfrs. Eva Covart
Cf Batb. N. Y.
•‘lam glad to have my experience with Hood’s
Sarsaparilla widely known, because the medl
i cine has done me so much good, I think It will
benefit others who are out of health. 1 was la a
very distressing and discouraging condition. I
had no appetite whatever; could not sleep well;
suffered with excruciating headaches. I felt
Tired and Languid,
Had no ambition and seemed all broken down.
After I had taken medicine prescribed by two
ot our best physicians, a kind neighbor advised
me to try Hood’s Sarsaparilla. I followed her
advice, and the result is. 1 nm perfectly well.
Ido not have the headacnes now, sleep well,
that tired feeling is vanished, and I am bright
and ambitious. I can eat heartily at every
meal, and have gained in weight from 94 to 105
pounds. I do not have any distress la my
HOOD’S
Sarsaparilla
CURES
stomach, and epileptic au, to which I was
formerly subject, never trouble me now. I
J cheerfully recommend Hood's Sarsaparilla and
! do not wish to bo without it” Mrs. Eva
i) Covert, Bath, Steuben County, N. Y.
Hood’s Pills act easily, yet promptly and
efficiently, on the liver and bowels. 26c. ,
WAYS THAT ARE DARK.,
I
How Chinamen Are Being Smuggled Into
II the United States.
' Portland, Or., April 4.—ls the inves
tigation into the methods of the Chinese
at this port and at Puget Sound, com
, menced by Special Treasury Agent
, Noyes, is carried far enough, it is said
some sensational revlatious will be made.
' Customs Inspector Todd, of Van Cou
ver, B. C.. who arrived last night, says
the steamer Ifaytien Republic has been (
J carrying a large number of Chinese to
,1 and that but a small proportion has been
Portland from Vancouver on every trip,
; sent back until the Inst trip when thirty
seven were deported. He says these Chin
ese all have certificates, which are pro
cured from Portland and Salem, and t
! that notaries and lawyers in the two i
cities are in the business of furnishing
them. Chinamen send their photographs. W
which are attached to bogus certificates.
For these certificates they pay ?80, the
Haytian Republic charges them SSO
fare, and then they have to pay an agent
$lO to see that they get in all right.
The Tacoma Ledger published this
morning it letter purporting to be in
structions from the Kin Wong Company,
of Montreal, to prominent persons of
Portland instructing them how to enter
the United States. The Irtter stages that
prices to be paid a smuggler is S!H>_a
head. Ami in throe eases $135 and s2.>O
nlso is to be paid to Mrs. Virgil Moore,
'of Portland, so soon as Chinamen ar
! rived Five Chinese are now held nt As
toria. awaiting deportation, it having
been discovered that names of five, well
| known business men of that city had
been forged to the certificates.
auditor martin drowned.
The Boat was Capsized in Charleston
Harbor.
Charleston, April C. S. Martin, audi
tor of Hie Charleston, Sumter and North
ern Railroa ! Company was drowned
in the harbor this morning. He, w.tlj
Col. Knox Living-ton, counsel of the road
was out sailing in a small boat which was
sailed by Frank Cooper, colored. W bile
off lhe Battery a flurry of wind struck the
i boat ami capsized it.
Mr Livingston ami Cooper were
I rescued by a pacing tug. Mr. Martin was
drowned before assistance '•ould reach
i him.
TO AWAIT A TEST.
! Charleston, April s.—The council, em
nlovod by the Liquor Dealers Association
1 t > resist the dispensary law have submlt-
I ted an opinion advising their clients not
I to resist the inforcement of the law until
I its constitutionality Ims been decided in *
! test ease to be made after July Ist.
DEMOCRATIC ’ CONGRESSMAN.
■ Milwaukee. Wis.. April 5.—P. J.
j Somers, democrat, was elected to con-
I gross in this (the fourth) district over
Theobald Oetjen. republican, by 1,200
majority. In the election to fill the va
cancy made by the election of Col. John
L. Mitchell to the senate. Judge New
man, democrat, is probably elected to
the supreme judgeship by 4,000 over
Judge Webb, republican. The majority
of cities elected republican mayors. Ash
land's populists elected O’Weefe by a
small majority.
JUDGE GIBSON DEAD.
He Quietly Passed Awav at his Home in
Mensena Yesterday.
I News was received in the city yesterday
I morning of the sad death of Judge Wil
liam Gibson, at Mesena, Warren county,
about 42 miles from Augusta up on the
Georgia railroad.
Judge Gibson was a prominent and able
judge and jurist and for years he was con
sidered to be one of the ablest lawyers
at the Georgia bar.
During his life of 73 years he .held a
I number of Important official positions and
was a man noted for his great integrity
and high honor, and was generous and
warmhearted toward all who knew him.
The deepest sympathy is exteded to the
bereaved family in this their hour of
affliction and trouble.
The funeral will take place from St.
John s today at 10 o'clock and the follow
ing will act as pallbearers:
Hon. H. C. Roney, Hon. Claiborne Snead.
Hon. George T. Barnes, Hou. Joseph B.
Cumming. Hon. Charles C. Joues. Jr.,
Hon John T. Shewmake, Hon. W. W.
Montgomery, Dr. W. H. Doughty, Sr.,
Frank H. Miller. Esq., James E. Harper,
Esq.. Mr. George Adam, Mr. William M.
Dunbar, Dr. Joseph H. Spears, Mr. Wil
berforce Daniel, Mr. Charles H. Howad,
William E. Keener. Esq.. Hou. Patrick
Walsh, Hon. Robert H. May, Hon. John
S. Davidson.