Newspaper Page Text
Ijc (Iratufarfc J Canuti) 1 ijentifo.
VOL. III.
. . Kaiiroad _ . of . Georgia _ ,
me central
id t&e Hands of a Receiver.
OBJECT OF THE MOVE 18 TO FIGHT
1 CENTRA!, LEASE—GEN. E. P. ALEX¬
ANDER IS TEMPORARY RECEIVER.
'he Cen rai Railroad and Banking
Upany ot Georgia, with all its a-sets
‘ entire property, passed into the
hs of a r ceiv, r at 10 o’clock Thurs-
[ni<.dit, federal when court, Jud*/e signed Emnry order Speer, of
iting an sp¬
G n. E. P. Alexander tempo-
lr< [ ceivcT.
M Clark, of Charleston, was the
lioner, and the hill was fi ed by Dan
[ntree, of Atlanta, and a Mr. Perry,
ne Charleston' ar.
ne bill is quite lengthy, and attacks
Georjia Pacific’s ie se of the Central;
!ess im - of the ins de history of the
pany; declares that the interests of the
ariiy stockholders are endangered by
upose i absorption of the property by
c .rjioration, and asks the court
the i roperty from the design-
,uiond and vVest Point Ware-
and Terminal company.
averments of the bill briefly are:
the purchase of the Ge rgia Pacific
ny, or the Richmond and West
Terminal Company, <>f forty th< u
shar, s of stock of the Ccntril Rail-
and B inking Compa y for the pur-
of controlling violation the policy paragraph of t- esame, 4,
plain of
2, article 4, of (he cons ituti n of
H'iopted in the year 1837, which
I fo low’s :
Bhe gen ral assembly shall have no
It to authorize any corpora ion of
ptate or elsewhere, or to make any
■•act or agrenn-nt whatever with any
I corporation, wi ich may have the
It, or h intend, d to have the effect,
lucourage ft. mouopoly; and all such
cis aud agreement shall be illegal
m id.”
lintills i sist, therefore, that the
Bids ny which the Teimi ,ai company
Brntrol of the stock was void, and
■ney took ini it js to the same.
Bs is a move to break the lease Sus-
ia rests on both the minori y and the
I'ity lion, -toe ho deis. The geueral im-
liual however, is ihat the Richmond
it sell is the real party seeking
Icetvership. Id Two reasons are as-
by those informed on ihe situa-
■ 1 One is that the Wall street opur-
who now control the Terminal are
ft>f the 7 per cent lease to the Geor-
ftucific. The other is that they are
lo anxious to break he lease as to
Ik the Central and wipeout the heavy
paliz fie tions and fixed of the charges, bill is for the
maio purpose
t, through its receiver, to bold the
iurty and pteserve it fiom any unwar-
sd acts ol a board of directors tlect-
y the holders of the 46,000 shares of
i until the next annual meeting of
legally qual fied to vote, to-
the preseut min -iity stockholders,
the boaid - aid of minoritfc|iockiiol<Jers direct^ in sympathy will
a
i them and having their best inter, st
lew. Then the court will turn over
snl ‘ re assets and property to such
of directors for their future con-
ind m inageroent.
tblic opinion inclines to the theory
Wall street is behind this move-
Public opinion may be wrong,
f Wall street mmipulators did not
re the receivership tins blame is still
there on account of the methods in
Rthe Central has been handled of
hv the Richmond Teiminal.
mural he is Alexander states emphatically beeu
very glad the issue has
k that the propertiesof thecompany
been very muen jeopardized by the
^uncertainty mblic which bad peivnded the
uiiud with reference to
I; that that uncertainly was of a
| fo d c aiao.ter. the 1. Were the of lessees their
PJJ to carry out terms
[> pbiiity 2. Did to the lessees it have and the finan- the
carry out pay
I amount they had agreed to pay the
ral stockholders? 3. Was the lease
legul or so valid that it could be
Id out? He felt, however, that when
[ h uncertainties of all the Central were properties removed would the
Fgely increased.
STOCK HuLDEItS EXCITED.
K excitement prevailed when the
-i s fate became known and eytry-
Lise was lost sight of in the discus-
d'he court and its possible results.
I'Oniere Were intcusely worked up,
[fr L 1 . c ^ on uttered. OI ru i Q Many to their seemed interests
to
h the matter as the thtfm n *rt of
r scheme on the part of j r-
rcKhoulers to Depreciate the value
crea ^ u 8 & panic among
° rit y Adders. l Mr. Rountree was
P l^ Djr thi8 ^The filling of
-
ROBERTA, CRAWFORD COUNTY, GA., FRIDAY, MARCH 11, 1892.
this bill,” said ne, “is the best thing that
could have happened for the i-tockhold-
eis, and there is no reason for them to be
panic stricken or think less of their
stock.
The question of a permanent receiver¬
ship comes up on March 14th, and Judge
Speer will ask Judge Pardee, of N< w
Orleans, to preside. Il is expected that
a vigorous light is will said be made on the re¬
ceivership, as it that it. those most
intire.-teJ arc opposed to elected
General Alexander was presi¬
dent of the Central iu January, 1887,
when the Calhouns and H. B Hollins
secured control of the property. Prior
to that Captain W. G. Raoul aud a dt-
rectory ot Georgians controlled ihe com-
pany. days of President Wad ley, the
In the
stock went up a id do n u and the system
expa, d’d. The Central was a Georgia
institution pure and simple. Its stock
was held in sm .11 blocks, owned all over
the state. In 1886 the control of the
company was a, quired by a northern
syndicate, stock went up fr»m 69 bo 135,
and the dividends increased from 4 per
cent, to 8 per cent.
Las June the Central was leased to the
Georgia Pacific. The Term/ al controlled
both roads. Since then there have been
many predictions of a receivership The and
threats to break the lease. Central’s
stock and bonded indebtedness stands
about thus:
Stock ............................ $ 7,500,000
G eneral m rtgage.................. 4,899,080
Consolidated mortgage ............ 7,000,000
Collat ral trust bonus.............. 4,880.000
Certiticdcs of d bt ................ 4,600,090
Oc an Steamship Comjtany, first
mortgage....................... 1,009,000
Savannah aud Atlantic,first mortgage 251,000
Total $80,229,000
The mileage of the Central system is:
Central, 504; S uithweAern, 334; Mont¬
gomery ai d Eufaula, 80; Port Royal
and Augusta, 112; Savannah and Atlan¬
tic, 18; Por- Royal and Western Caro-
lini 230; S.- vannih and West rn, 620;
total, 1,904 iiiles, exclusive of the steam
ship line-* from Savannah to Philadelphia,
New York and BostoD.
THE CENTRAL’S LEASE
Is said to be Void, as it was Never
Approved by the Terminal.
A Ne* Yon dispatch ;ays: A new
feature of the Central receivership and
theRchmond Terminal situation devel¬
oped Tuesday. The lease of the Central
to the Georgia Pacific has never be>m
confirmed hr the direct rs of the Rich¬
mond and Danville, which is the lessee
of the Georgia Pacific.
This leaves a good sized Terminal loophole
through wliich the Richmond
can escape any complications the Central. on ace Tne unt
of a receivership t. r
direc'ors of the Richmond and Danville
can refuse to ratify the leas - of the Cen¬
tral by the Georgia Pacific, and that will
drop the control out of the Terminal
system. impression Wall street that
The on was
this would be done. The terms of the
lease require the Georgia Pacific to pay
7 per cent, on the Central stock . 4 he
Georgia Pacific has not b en earning
money enough to p y int rest on its own
stock, barely enough in faut to nay the
fix' d charges. It has been a burden on
the Terminal comp toy for six months,
and if there is any chance, it may be
dragged fr >m the system.
NOT COMING IN.
Another new fenu e regarding the
Central rece ve;ship matter is that Mrs.
Clark and her attorneys have been disap¬
pointed up to the present time in their
expectations of a long list of the Central’s
minority stockholders to join in their ap-
plicttion fer a receiver.
SOUTH CAROLINA FARMERS
Are C utious and the Cotton Acreage
Will be Greatly Reduced.
The latest statis.ics show t.mt there
will be a decrease of from 40 to 50 per
cent, in the fertilizer trade of Charleston,
S. C., as compared with 1-st year. This
goes to show that there will be a decrease
in the acreage of co ton, owing which to the all
extrem- ly conservarive w-y in
merchants through ut the entire sou:h
must necessarily cond ;ct their business
during the pres nt year, thus reducing
to h large extent, the aid th y havs been
in the habit of extending to far-
mers, aid hence re Ariel ing them
in their acreage. All iadi-
cations p Jut to much less shipments
during Match and April of this year as
compared with March and April of 1891,
ami as numbers of cts ern manufacturers
have reduced th< ir shipments to the
south very largely as compared with last
year, and es some have absolutely de¬
cline 1 to ofLr tons of goofs, it would
appear that when the season is ended
and statistics are carefully compiled,
there will be a decrea-e in the consuraa-
tion of fertilizers shown of *b ut 40 or
50 per cent throughout the south.
THE SOUTH IS BRIEF
The News of Her Progress Porfrayed in
Pithy and Pointed Paragraphs
AND A COMPLETE EPITOME OF ITAPPEN-
1NGS OF GENERAL INTEREST FROM DAY
TO DAY WITHIN HER BORDERS.
Mrs. Annie E. Semme-, widow of the
Admiral Raphael Scmmes, cora-
mander of the confederate cruiser Ala-
b ,m 'S died at her home in Mobile, Ala.,
Monday, iu her seventy-fourth year.
A Knoxville, Tenn., dispatch says: into
The Cherokee land company ivent
the hands of a receiver Tuesday with
assets of $600,000 and liabilities less
than forty thousand. The c mipany owns
600 acres of land immediately across the
Tennessee river from Knoxville.
A Savannah dispatch says: The Ocean
house, the Beach house and Dearly all of
the cottages on the north end of Tybec
Island were burned Sunday night. The
fire broke out in the Beach house, which
several attempts have beeu made to burn
within the last few weeks.
The news of Hon. Judson C. Clem¬
ents’ appointment as heralded interstate with commerce great
commissioners was
delight in Rome, Ga. Mr. Clements is
universally popular in that city, and his
appointment was a subject of great inter¬
est to his many friends in Romo.
Fire Tuesday morning at Birmingham,
Ala., in Turner Bros, trunk factory caused
a loss of about eight thousand doll irs on
the stock, which was insured for $5,000.
The L*wy Commission Company, in the
same building, lost $2,000 on stock, in¬
surance, $1 500. The loss on the build¬
ing was $5,000, covered by insurance.
A Birmingham, Ala., dispatch of the says: 10
The first friction growing out occurred
per cent cut in furnace wages
Tuesday when the Tennessee Coal and
Iron Company put the cut into effect.
Their employes struck, but their places
were soon supplied, the number of labor-
ers wanting work being unprecedented.
The reform association of Charleston,
8. C., got in its work Monday by closing
the barrooms. The orders of the chief
of police were generally obeyed, but five
barkeepers were fined for violating ;he
law. The Epsten Brothers, two cheap
clothing storekeepers, were also lined for
refusing to close up. There was no per¬
ceptible diminution, however, in the
number of urunk aim liisoiucrly cases on
the police court docket.
A Middlesboro, Kv., dispatch of Sat¬
urday says: Because of the high tariff
rates charged by the East Tennessee,
Virginia and Georgia railway the Ralis-
ton mines have been forced to shut down.
'I he suspension is only pending, temporary, and as will ne¬
gotiations consummated, are now giving right of
soon be
way to the mines over the Knoxville
Southern, Several hundred men are
thrown out of employment.
A telegram of Wednesday from Savan¬
nah, Ga., states that the new law firm of
Harden, West & McLaws has secured in¬
structions from a number of mi¬
nority stockholders owning several
thousand shares them of at Central Macon Jtock
to represent on
March 14th in a protest against the ap¬
pointment of a permanent receiver. Law¬
yers have estimated tint the expense of
the litigation to the railroad before the
end is reached may pas* considerable
beyond a hundred tboussnd dollars.
The Cochran cotton seed oil mill and
fertilizer works at R ck HiU, S. C., were
de-troyed by fire Sunday night. 'Ihe
plant is valued at $60,000. The Rock
Hi 1 Cotton Seed Oil Company, from
whom the Cochian company leased the
plant, lose $35,000 of the above value,
besides machi ierv. The Cochran com¬
pany lose the st ck on hand, valued at
$13,000. This l itter loss includes 150
barrels of oil, 1,000 tons of seed, thirty
bales of lint cotton, 1,000 bales of fibre,
twenty-five tons of cake and ten tons of
meal. Insurance $52,000.
A Chattanooga dispatch says: Theen-
tire property of the Chattannoga, Rome
an 1 Columbus in Tennessee was levied on
Monday night by Deputy Sheriff Bates,
und'T the attachment out of thechaneery
court of Hamilton county, in the case of
II Clav Evans vs that road. The com-
plain.it claim, that .he -oa) ha, no char
Jf„“ ;;„n Z5X* mndWaa attached.
belong to the
even to a tin lantern. The road has no
charter in Tenneaaof, but hu,b«o domg
bn-in ess in the state for some time. The
affair has caused a semation m railroad
circles. The Chattanooga, Rome and Co-
lumbus is operated by the Richmond and
Daaviile.
A Richmond, Va., dispatch says:
Uoder authority stockholders granted at of the a recent Chcs-
meeting of the
apeakc and Ohio Railroad Company, a
general mortgage deed on &U its property
BOLIVER H. RAY.
COTTON FACTOR.
Groceries and Plantation Supplies, Guano
and Acid Phosphate.
409 and 411 Poplar St-, - MACON, GA.
1 also handle Guano at Roberta, Ga., which I will Champion, he pleased to
sell at the lowest prices. Write me or call on J. I. or
31. H. Cornis, at Roberta. 1 respectfully
SOLICIT YOUR PATRONAGE
In Cotton, Groceries anil Guano.
WRITE FOR PRICES.
MALPASS & BUSSEY.
-DEALERS IN—
FINE LIQUORS, WINE), BEER,
JSoda Water,
Cigars t 'Jobacco and Candy.
We keep none but the best, and cat
supply you with anything from a drink
of Soda Water to a gallon of Imported
7ren h Brandy.
West Kuo villo, Ga
QSilh. 1900 Iv
was on Monday recorded in the city of
Lynchburg, from said company
to the Central Trust Company, of
New York, and Henry T. Wickham,
of Hanover county, Virginia, trustees.
It is to s< cure the payment of $70,000,-
000 4£ per cent gold mortgage bonds for
the geueral uses of the corporation, re-
dempti >n of bo ds formerly made, etc.,
and additional bonds not to avenge over
twenty-five thousand dollars a mile for
the purpose of double tracking tho
Chesaoeake and Ohio system, etc.
A RACE CLASH.
A Row Between Whites and Blacks, in
Which Four of the Latter are Killed.
A telegram from Edmonton, Ky , gives
particulars of a b'ondy tight which took
place at Clark’s cross roads, five miles
east of that place between a party of
twelve wagoners, white, on one side and
eleven negro farm hands on the other,
in which four negroes were killed and
three or four wounded and one of the
wagoners seriously hurt.
The wagoners, who haul lumber for a
saw mill, while on ther way to their homes
they met a negro farm hand who is em¬
ployed oa the farm of John Anderson.
In passiugftlone with his whip, of the which wagoners the struck
him to negro
remarked that he would see him again.
The negro then went to the house of An¬
derson, who employs a large number of
negroes, and in company with ten others
started for Maxey’s distillery, a short dis¬
tance beyond, where the wagoners made
a bus ness of stopping.
When they arrived at the distillery all
of the wagoners wore inside tho houses
purchasing whisky except two. These
the negroes assaulted with rocks and
clubs, and would have made short work
of them but for the timely appearance of
the ten oihers. who sprang among th-m
uni in a short rime shot and killed four
and w uoded three or four others, two of
whom, it is said, cannot recover.
HILL’S SOUTHERN TRIP.
The Itinerary of His Journey After
Lea »i»g the tapital.
A Washington dispatch of Tuesday
says: Senator David B. Hill has arranged
the programme of his southern trip. He
ls to accept invitations from but two
S Jackson and Savannah. Bu ie
U. wlS
IS- ^.^Bi.mingh™ Sunday niitht at Jtcridi'an’ 11 oVock, pin S
' and
to
j - .T.h.'mh, ^,5%. r ;ck«m
and -ill
there that niht ^ He wiU 8top over
iQ Birminahatn Vtral bou „, and con-
ti ueoQ thr0U2h At!anta to SlVannah ,
w ^j ch pj^ w jn re ach on the morn-
ing of 1 hursday, the 17th. He leaves
Savannah on Friday morning, and per-
b aps will return via Augustn, hoping to
spend twenty-four hours quietly there,
an ,j t 0 reach Washington on the morniDg
0 f Sunday, the 20th.
Bakst (J. Mrs. B. A. 0. EvXMrrr.
SHOES
MIX & EVERETT,
—SUCCESSOR TO—
MIX & OUTLAW),
Established in 1840,
SHOE DEALERS
CAN FIT
ANY FOOT
WITH THE LOWEST
PRICE SHOES
IN THE MARKET
CALL AND SEE US,
107 COTTON AVENUE
Macon, Georgia.
f.T.SMuiglserili?
DEALERS IN
Foreign and Domestic Groceries t
Fruits, Vegetables, Canned
Goods, Sugar, Coffee, Poultry,
Sutter, Eggs, &o.
Whiskies, Brandies, Wines, Beer, Ac.
We pay the highest price for Chicken*,
Eggs, Butter and Country Produce.
Parties wishing to purchase family gro¬
ceries, produce, &c., will find we sell a<
lowest prices.
Call and see us at Nos. 003 to 008 Fourth
street, nearly opposite Brown House
and Passenger Depot,
MACON, GA.
lv
A. & N. M. BLOCK.
—WHOLE BALE DEALERS IN—
Wines, Liquors, Beer and
Ci§ftI*S*
Manufacturers of Soda and Mineral
w Al Champagne ££, Cider
ftnd other 8oft DriQkg Ag for g*
An h euser Bush Brewing Association Cal¬
ebwted Bottle p aJe
Bu( j we £g er> Agents for the Moerlaip
T.', fXato tff 'ZSftg anl'tW-t
^ ^ ^ P ° P '*
Macon, Ga.
....
^ 00 track,
of Centm R,lllroa(i -
25 C75.
NO. 7.
Hi
Best Synip. Tastes Good. Use
R^jniaSojdbyai jiaims
"2 5% ,c is.