Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1871-01-16
Alexandria & Fredericksburg IL. IL.
From the Richmond Dispatch.


The House Committee on Roads closed the
investigation in the affairs of the Alexandria
& Fredericksburg r. r. on Friday night Judge
Ould said: The committee stands charged with
an inquiry directed by the Legislature of Fir-
GINA. The State Of Virginia comes almost in
person to inquire how the gentlemen who have
obtained this franchise have used it. So far as
my inquiries have gone | can say in truth that
so far from a compliance by this company with
the terms Of the charter or the general railroad
law, defy my friends on the other side to show
compliance with any one Of them.
At the time required by law books were sent
| to three cities in Virginia and one to Washing
ton to receive subscriptions. 1t is not pretend
ed that any subscription was made in any city
except Alexandria, nor does the evidence show
| that any attempt was made to get subscriptions
| in the Others In Alexandria several gentlemen
met TO organize the company Now they should
have known the provisions Of the bill that in
corporated them for one Of them, Mr. Stew
art, drew it up. There was no compliance with
the provision of the charter in the payments on
the shares. Does any one believe that Jos.
Stewart, the patron and author of the bill, did
not know of that provision? But was there 4
compliance even with the provision requiring
payment Of 50? don't think that there is
any positive proof that even this amount was
paid 1t is in evidence that 5000 in cash was
| deposited, and $1,000 in check, but no one
familiar with the operations of Stewart and
Huyck as given in the evidence here, will be-
| leve that that check was not bogus operation.
| think will also show that no other money at
any time was deposited on account of this COM
pany.
In his affidavit Huyck of not very fragrant
memory, swears to Il little too much. He
swears that 500, 600 1.-THE $40 per share) was de-
posted in his bank something that our friends
| on the other side do not now even claim
| Huyck swears that the fund in his bank subject
! to the check Of the company was 5000 in adj
dition Why does he swear to that sum? Be-
cause that was exactly the amount that Bodtish,
Mills & Go. negotiated in New York on the
$4,000 of the company's bonds which no one
other than Huyck pretends ever went to the
credit Of the company. We all know that it
went into private pockets, and remains there to
| to know that a check may be given, and with
drawn before it is tested whether it is good or
not And that is what was done. Leonard
Huyck, or whoever drew that check, did with
draw it before it was checked upon, and it nev-
CT was in bank for the use of the company My
friends on the other side call that 'irregulary,"
but think the committee will agree with me
that it is fraud
The old honest railroad law prescribed that
in the organization of railroad each person
taking shares should put down his name, to
show that his intentions were good to make the
contemplated improvement. Now, it has been
shown here that of all the persons at the Or
ganization on that day-scven persons, repre-
senting fourteen-only one was interested in
the road, and that person, we have reason to
believe, was JOS B. Stewart. The record in
the minute-book we all agree, is lie, because
it certified that the subscription required by the
charter-to wit, 10 per cent. on 1000 shares
subscribed to shares, but We all know from the
not man to use so strong 4 word without [
believe it, though often believe it without cx-
pressing it. But there is no other word to suit
that case. The only man who may, in charity
we may suppose, have been stakeholder, was
Mr.. j. B. Stewart, who must have known that
no such subscription as was required by the
charter was made He knew the persons re-
presented there were not bona ide sharehold-
ers. The issue Of the bonds was most hagiti-
Gus. We come to Bodfsh, Mills 4 Co., who
became the corporation by the transfer to them
of all the stocks and bonds Where is the law
for this? 1t was scheme for building rail
road on its stocks and bonds without paid-up
capital. appeal to this committee as honorl.
BILE gentlemen, guarding the honor and interest
of Virginia, to say that not one provision of the
general railroad law has been complied with
First it requires the officers to give bond. That
was not done. Second, itrequires that the bonds
shall not be sold at a greater discount than ten
per cent That was not complied with Third,
the law requires that certificates shall not be is
sued until the stock is paid up. They have not