The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-01-16
The Railroad Investigation.
~,Ocr OF THE ARGUMENT.
CLOSE NF TIL
sprEcuES RY JUDGES oSLD AND
MARS7fiLL.


III, Ironsr Committee on Roads closed
administration III the affairs of tho Alex
.,..,rf, and Frederick >hur& railroad on Fri
5.v ui,,ht. The proceedings opened with
The
Argument of Judge Robert ouid.
NJ. Chairman ana gentlemen OF the
,..,,,nit,rr: | shall cndcavor TO occupy as
email 4 portion of the time OF the commit
,c, O.. j consistent with the circumstances
N which here find Iur$eE placed.
qug srArETur INV ESTlGAToH IN THIS MATTER.
Thrra.nmitiec stands charged with IN
INQUIRY directed by the Legislature OF VIZ
liu:a. Il Is not the Fredericksburg road
nor Mr.. Daniel that comes here TO invcstl-
rate or 10 make inquiries. but it is the
Stale ot Virginia that comes almost IN per-
son to inquire how the gentlemen who
hay, obtained this franchise have used it.
Mg. Daniel NAV he c>toppcd, but the great
State ci Virginia cannot be. Her voice Is
sli powerful, and must be heard. TO her
~, mu,t Ill bow. and to her we must all
weld obedience. so far as my inquiries
have .gunr I can say in truth that so far
from compliance hy this company with
the terms al The charter or the gcneralr rail-
road law, ! defy my friends on the other side
o.how compliance with any one of them.
At the time required by law books were
sent 10 three cities IN Virginia and one 70
Washington 70 receive subscriptions. 1t Is
not pretended that any subscription was
made in any city except Alexandria, nor
does the evidence show that any attempt
was made to &c, subscriptions in the others.
In Alexandria several gentlemen met to
organize the company. Now they should
have known the provisions Of the bill that
incorporated them; for one Of them, Mr..
Stewart, be licvc, drew ii 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
ntthat provision: But was there Il COM
p4ncc even with the provision reGuiringa
payment of = !: | don't think that there is
any positive proof thai even this amount
was paid. 1t is in evidence that $500 in
cash was deposited, and $500 in ii check,
but no one familiar with the operations Of
Stewart and lIuyck. rs given in the cvi-
Gcncc here. will believe that that check
"a> not bogus operation. ! think / will
also show that no other money at any time
was deposited on account of this company.
nrYCE rRoYES TOO MUCH-KITE-FLyISa-~ ~-
IN his affidavit IIuyck, OF no: very fra
grant memory, Swears TO Il little too much.
He swear, that $4,000 Uhc SO per share)
WAS deposited in his bank, something that
our friends on the other side do not now
even claim. Huyck Swcars that the fund
in hj- bank subject to the check of the
company was $4,000 in addition. Why
does he swear to that sum: Because that
WAS exactly the amount that BodtiSh, Mills
K Go. negotiated in New York on the Sll0,-
VOo Of the c0mpany's bonds, which no one
other than lluyck pretends ever went to
the credit Of the company. We all know
that II went into private pockets, and re-
mains there TO this day. We all know
enough of banking rules to know that Il
check may be given and withdrawn before
it is tested whether it is good or not. And
that is what was done. Leonard Huyck, or
whoever drew that check, did withdraw it
before il was checked upon, and it never
WAS in bank for the use of the company.
Ny friends on the other side call that
irrcgularity," but think the committee
will agree with me that il is fraud.
The old honest railroad law prescribed
that in the organization of Il railroad each
f,tl. Ii
name, to show that his intentions were good
10 make the contemplated Improvement.
Now. Il has hccn shown here that of all the
persons ai the organization on that day
seven persons, representing fourteen only
one WAS interested in the road, and that
person, We have reason to believe, was Jos.
Il. Stewart. The record in the minutc-book,
We al agree, is a lie. because it certified
that the subscription required by the char
tcr-to wit, 10 per cent. OH 1000 shares
had been made. Reuben johnson and
Others subscribed to shares, but we all
know from the evidence given here that
that Was
LIE.
an not man TO Use so strong Il word
without | believe il, though often believe
II without expressing it. But there is no
olher word 10 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 sub
>rrpt!on as was required BY the charter
Was made. He knew the persons repre-
scnted there were not bona it'd" sharchold-
Cr>.
THE' IRREGULARITIES OF TIE ALEXANDRIA
AND FREDERICKSBURG ROAD.
he Issue Of the bonds was most flagitious.
We come 20 Bodiish, Mills & Co., who be-
came the corporation by the transfer TO
them OF all The stocks and bonds. Where
Is the law for this! II was a scheme for
building Il railroad on its stocks and bonds |
Without paid-up capital. Iappeal to this |
committee as honorable gentlemen, guard
in@ the honor and interest Of Virginia, to
say that not one provision Of the general |
railroad law has been complied with. First
IL requires the officers to give bond. That
"as not done. Second, it requires tina, the :
bonds shall not be sold at 4 greater discount !
Than ten per cent. That was not compiled !
with. Third, the law requires that certiti-
Gates shall not be issued until the stock is !
paid up. They have not done this. Even !
LeonnFd Huyck's affidavit does not save
'nem here. That is one of The "irreeular-
i'ieS" spoken Of by my friend Mr.. Smith. .
That Is that certificate may be issued SAYING
" man has paid 500 on his share, when he