The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-03-11

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rnent, and they are of opinion that some of
these roads have too many officers, and sal.
aries too large for the work done, and that
the expenses may be reduced by the rcduc.
ton Of the number Of existing officers.
@. Do not Mr.. Walters and his associates
expect, If the offer of these nine Richmond
gentlemen is accepted, to shape the man.
agement Of the Richmond, and Petersburg
railroad, as also the management Of the
Petersburg and Weldon railroad9
A. am satisfied that the offer Of these
nine gentlemen was made seriously and
gravely as business transaction, and that
/ they and MIR. Walters are seriously anxious
that the General Assembly will accept their
offer and sell them the State stock on the
terms proposed. All these parties. verify
believe, expect and intend that the nine
gentlemen above referred to as the holders
and the owners of the legal title to the
stock on the books of the company shall
exercise all the power and control which
the law gives to them as the owners Of 80
much stock over the affairs and manage
ment of the company, and that such con-
troll shall terminate only when the compa-
ny, by vote of a majority Of its stockhold-
ers, (Which majority will, I presume, in
clude MIR. Walters's private stock now
owned by him. shall have given and
executed legal contracts of guarantee that
the Richmond and Petersburg railroad
shall be forever an open highway between
Richmond and Petersburg, equally accessi-
bic to all railroads now or hereafter con-
Meeting with it, without partiality, prefer
ence, or discrimination for or against any
other railroad whatsoever, upon the pay
ment of uniform tolls and fares. And when
such guarantees shall have been executed
| satisfactorily to the nine gentlemen afore-
said it Is understood and expected that the
nine gentlemen aforesaid will transfer the
stock to Mr.. Walters, and that after such
transfer Mr.. Walters will possess and
exercise all the powers which the
law gives bim rs the owner of so much
stock, subject only to the obligation to keep
the road an open highway between the two
cities, as above mentioned. In respect to
the Petersburg railroad, it is expected that
Mr.. Bridges, the president of the Whining
ton and Weldon railroad, and Mr.. Walters,
| if they possibly can do so, will attend the
annual meeting Of the stockholders, to be
held on the 18th inst, and will there make
such propositions to the stockholders, in
general meeting assembled, as will induce
the stockholders to instruct the president
and directors to make such contract with
| the Wilmington and Weldon railroad on
the one hand, and the Richmond and Pc
tersburg railroad on the other hand, as will
insure the safe, speedy, and cheap trans
portation of all through passengers and
freight between Richmond and Whining
ton. With the details of these propositions
have not been made familiar, nor am
sufficiently expert in railroad matters to
say what their terms will be. Mr.. Walters
and his associates expect not to control but
to persuade the Petersburg Railroad Com
pany by intellect, will, and liberality.
G. | must pay you the compliment of
saying that your answer is a very pretty
piece of defamation, but not at all re-
sponsive to my question. Twill repeat it ::
If the offer of these nine gentlemen is ac-
cepted by the Virginia Legislature, has not
Mr.. Walters himself or his attorneys right
to expect that Mr.. Walters and his asso-
ciates, owners and controllers of the Will
mington and Weldon road, will be permit
ted to shape the management Of the Rich
mond and Petersburg road? Answer yes
or no, if you please.
A. | do not please to answer either yes
or no, because neither Of those monosylla-
bles would be an answer to the question.
In my opinion Mr.. " alters would have the
right to expect that the gentlemen afore-
said would respect and fulfil his wishes and
follow his advice in respect to the manage
ment of the road-aways, however, i'll SUBJ
ordination to the independent judgment of
these nine gentlemen as to what was neces-
sary to make it an open highway, as before
described.
Q. From your knowledge of the purposes
and plans of these nine gentlemen, can you
say that it is at all different from the pur-
poses and plans of the owners and control
lers of the Wilmington and Weldon roads
a. / do not know what are the purposes
and plans of the owners of the Wilmington
and Weldon road, and therefore cannot
make the comparison called for in this
question. am willing to state, however,
| what believe to be the purposes and plans
lor tha ,,ipn an, 4afnro1.tiH an1 MIR
Walters. l believe that they are in entire
accord, and have perfect confidence in each
other-that
GOOD FAITH WILL BE KEPT ON BOTH SIDES.
| Q. Are the purposes and plans Of Mr..
| Walters and his assocatesAyith reference to
the Richmond and Petersburg railroad diff
ferent from what they were prior to the
proposition of these nine gentlemen to the
General Assembly Of Virginia!
A. In no way whatever. have always
understood that it was the purpose of Mr.
| Walters and his associates to make the Rich.
mond and Petersburg railroad
CONNECT FREELY AND IMPARTIALLY WITH ALL
RAILROADS
connecting with it, and the only modifca'
ton, if it can be called one, was this: That
Mr.. Walters accepted cbeerfuly the offer Of
these gentlemen to stand in certain sense
AS GUARANToKs TO THE VIRGINIA PUBLIC
and the Virginia Assembly that such were
his real purposes.
Q. Are you intimately acquainted with
MIR. Walters and his purposes and plans in
regard to the Richmond and Petersburg