The Texas Republican. [volume] (Marshall, Tex.) 1849-1869, 1858-06-05

Crest excitement has prevailed AZ tous,
ton. on account Of ccs,Ais disclosures con.
neci.d with the issuing Of some $3.50 900
worth Of stock IN the rexss Central Road.
With view to control the election OF the
/ President and Board Of Directors, for The
: ensuing year. fas issaancs OF this stock
WAS a movement. on the part Of Bsemcnd
and Baker. in order TO meet a counter
movemen, OF the stockholders in Northern
Texas, which contemplated a removal Of
the old directory, and rigid investigation
[ of the financial affairs OF the company, OF
which it appears but little is kno~n, aud
many grave susoicions are entertained.
/ The dissTected stockholders published
their proceeding. and resolutions, to which
tho old Board, through Mr.. Bremond, the
setting President, have replied. lie de
nounces the charges against tEr old Board
rs unqusliiiedly false, jas'ides the issuance
OF the $3.50 900, as being done in good
faith, aud in conformity to the charter, &c
lie asserts tina, exclusive Of this stock, the
present Board. substantial, the same rs
tho old one.) were elected by majority,
and tina, the opposition are in the minority.
The details Of this railroad controversy
would prove uninterestng to the mass OF
redy. 1t forms but another chapter in
that mistaken and reckless policy, which
p.aced the character and credit Of our
State in the hands of irresponsible rail,
road compauies, which were ncofporated
; without placing around them any safe
guards to prevent Encouragement and
, fraud a policy against which we inveghed'
bu, with unavailng remonslrances, and for
which we were denounced, by the lmrc.
) date benedciaries in these schemes. and
: the presses in their interest, as an enemy to
: internal improvements.
! The Dallas Herald comments upon the
t management Of this road with grea, sewers
, ity. We copy few pungent paragraphs
. . feeling Of uneasiaess has grown IN
/ the minds OF stockholders, as to the man
aremeut of the affairs OF the company
Inima,ious of foul play have ripened into
charges OF down right ,enaity, No stock
. holder In all Northern Texas. knows any
thing about tho management OF the cons
cefn. They cannot learn how their mons
, ey ia appropriated, what the road is cost
ING. they are assured this, while tue
books Of the company may perhaps be in'
spected, that vouchers are not to be seen
Tor certain money appropriations. They
bear grave charges Of the great interests OF
the road, and the stockholders en- maSSe,
being made subseryien, to the private in
terest of the Board OF Directors aud favor
ed stockholders, and sacrificed TO their un>
scrupulous private speoulallons. They
know that they subscribed to the stock of
the road gave their notes IN good tam,
expecting to pay them promptly, and os'
paetiur that every cent they paid should
20 to the completion OF the road. and they
know that their notes have, withou, any
notice to them, been discounted at ruinous
rates to spectators. so tina, IN many in
stances half their money only, will 90 To
tho building OF tho road. aud halt to the
~.s'.,s Of sneeulatots All these things
have combined TO la the faint OF sGspicion
on the operations OF the Directors. In
order % satisfy themselves Of the truth OF
the charges the country stockholders took
prompt steps to be represented at the an
nual meeting in May. 1t WAS their un
doubted right to DO there In person or 10y
proxy, 10 examine for themselves Their
/ is no doub, IN our mind. that IN the meet,
| my Of Ma, Bird, what is called the opposl.
ton, represented majority Of the valid
bona hde stock present. They represent
ed nearly $1,000 stock. when accord
I ing TO the secretsr, oi the old Board, there
was only some 5000. 600 on the books, 10
cuding the s350.000 objectionable stock
This $3.50 900 Vas issued on the eth and
2slb of April, four or five DAYS before the
annual meeting, aud alter it had become
| apparent that the opposition would oat
vote them, to Mr.. Bremond and other mem,
bers OF the Board Mr.. Is. taking Si50,.
900, when according to his own showing
all the old Board before owned only Sos.
900. The issuance Of this STOCK we feel
justified in saying, from all the cifcumstan
ces. was a moral fraud, aud An outrage on
the rights OF bona tide stockholders. To
recognise such practice, will he virtual,
to place the Board of Directors wholly be
( You'd the reach aud control OF the stock.
/ holders. They can retain tho management
and control OF the road TIL d0omsday, BY
simply issuing enough stock to their crea,
lures. TO control the elections II is in
vain to say that this stock WAS subscribed
for in good faith The circumstances
show conclusively, that it was issued for
the especial purpose of controlling the
election OF Directors after "A couu, Of no
SEES had convinced them, that such an ex,
pedIent only could save them. If not, why
WAS the resolution Of Col Henderson, call.
ing for an investigation of the manner OF
issuing stock objected to. aud so summarily
IaId on the table by the friends Of the
Boards 10 there anything behind the cur,
tain that they are determined shall not see
the 'i1hti Why ia it that the Board man.
iiest such a keen desire and stubborn deter,
minalion, to retain the Directory, Have
they the vanity to suppose ,bst they alone
are qualified to conduct such an enterprise
Have they any privileges or peculiar rights
in this corporation above other stockhol>
dersf Have they any inalienable or pre-.
...i.xf s.-.Lk A..