Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1869-02-03
IMPORTANT RAILROAD MET.
ING.
The Subscribers to the p.
& II. 1. II. II. stock ask
to be Released.
uNANaMoUs ACTION.

sf the Rock Island 1 Camden r. r., eth
sewiss known ~ the Peoria / Rsck Islant
X. r., held a meeting at the City Hall las
evening. for the purpose Of taking som,
actisn in regard to being released from
thsir subscription. The meeting was call
cd At the request Of large majority of th,
stock holders and, a. the subject Of othel
Eastern Railroad connections was to b.
discussed. 4 large number Of our business
men and citizens interested in the pres
perity Of the city, also assembled.
Ths meeting was called to erdsr BY Jno
l.. Swits, Esq, Who moved that Hen. Jns
l.. Davies be appointed Chairman, ant
Samuel Perry, Esq, act as Secretary.
IL was then stated that the meeting had
been called at the request Of . large mum
Der ofths subscribers to the stock Of th'
P. 4 r. l. R. R., who were dssirsus o
Of taking some action whereby they nigh,
b relieved efpay ing their; t
ths capital stock Of that rad, which had
been obtained Under the fairsst efprsmisss
every one Of which had bssn ignored and
violated.
The Directors agreed not to call for slch
subscription, until they had money snsug b
to build the road. and esuld see their way
clear to put it in running order. They
did call for it, and it was turned ever ts
them under such assurances, and after.
wards they tell us they have ne. money
enough, and therefore they must sell the
road to eur greatest enemy, thereby cheat
ing US out Of cheap csal, competition in
frsights, and an Eastern connsctiss. Con-
sidsrng the Inducements. whereby they
subscribed, they thought |. best to sppsini
. Committee to confer with the Directors,
and ask to be released frsm oil their sub
seriptions. Il vas the opinien Of most Of
those prssent, that the Directors would do
% without any hesitation.
Mr.. j. l.. Swits moved that committed Z
Of three be appointed in accordance with
the wishes Of the.stsck holders. The me
ton was seconded BY Mr.. Perry and came
before the meeting fer discussion. Mr..
Swits wanted them to thoroughly investi-
gate the manner in which the sub.eriptiens
we're turned over to the Company. and to
take legal counsellor the following points
!. Have the Directors right to lease the
road without consent Of the stockholders.
9. If the road is leased with its franz
chises, stock, &c, all transferred to Mr.
Cable, have the Directors . right to release
the Davenport subecribersf
Sons three or fsur Of those present whs
we're acquainted with the terms Of the sub.
scription, and. who were present at the
meeting when DR.. Hamilton and the Di
rssters had made the prsmiiss alluded 70
above, expressed themselves Of the epinisn
that ~ the inducements whereby the SUBJ
scriptions had been turned over, have net
been fulfilled, that the Directors would
not hold them to payment.
The opinion Of Mr.::w. II. Holmes (~ho
Vas absent on account Of severe acsident) }
was given by J. 8. Drake. who had been
wilh him subsequent to tho accident. Ii
was briefly as follows: Tha. the Directors
would not think of holding on TO the sub
ecriptions when they learned the feeling z
that existed in regard to their action; that
he (Mr. Home,) was ready to pay his, 50
that he could be on the fighting side, but
that il was unjust for them to call for .
single dsl,ar, in view OF the violation Of oil
the promises they had made, publicly. and
individually to him. These promises be-
ing the same as those alluded to above.
In addition they had said they would
not take Cables route unless they could
swn and operate it tho came a. any other
mile Of the read. they further promised
thataftsr We had done ell that ws could,
and they should have enough to warrant
the building Of the road, they would take
our money and have nothing further to do
with Mr. Cables route but. instead, they
took the money and then cold themselves
10 Mr.. Cable, body, soul and brssches, per.
pstuslly leased.
Geo. H. French, ESQ.,, Director Of the P.
&R. l. r. r. being present. was called
upon for bis opinion. He stated that, -
= citizen, he agreed with the majority oi
the subscribers; but a. . Director, he could
cay nothing that would be bindisg upon
the Beard. He gave . detailed account Of
the different steps in the P. I II. l. r. r.
proceedings in Davenport. but By no in
timatisn did be justify the action Of Dr.
Hamiitea. He reviewed the preceding,
In regard - the subscriptions and the
transferring Of the saas to an uncondi.
tiseal agrssoent, and remarked at The close
that smother installment Of 20 per cent.
was due, and hs was ready - receive it.
This raised . laugh, and be tosk his seat.
In aceordancs with Mr. Swits metisn,
the Chair appointed Msssrs. Jao. L. Swits,
Robert Krsuss and Gee. L. Davenport q
the csmn;ttss called for. They we're in>
structed to confer With al the Dirsctera
and report q meeting Of the subscribers,
to bs held upon call Of the Chairman.
On motion Of Mr.. Perry the meeting
passed to the consideration Of the second
object Of the meeting, viz: Eastern Railread
esnnsctiens-a competing line 10 the East
srn markst-ehsap frisghts and cheap
ssal-by the appointment Of csmmittss
to confer with similar committees frem
Rock Island and Moline. The fsllewine
were appoistsd - that COMMITTEES: Asssrs
W. H. Helnes, A. c. Fulton and ". @
Wsdswerth.
The necessity for some immsdists action
On the part ef the people to secure an east
srn connection 10 evident from the eendi
tisn Of the Leading lines Of the East. Th,
Psnnsylvania Central road By the recent
lsass Of the Columbus, Chicago I Isdians
Central r. R., and BY their favorable as
rssgsnsats with the Tslsde, Pssria
Warsaw r. R., have an uDintsrrup ted cen
msnieatisn from Philadelphia to Peesi,
and via. Lsgansport to Chicago, and ais,
to the Ess. Illissis State line, From