The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-03-13

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,,,,,n,i.,cton snd Manchester railroad 70 III a
,MM;,n,irgton and Weldon road road. !, t.a,d
lawn this part also TO tnen' AM . ~
kno~n a..t # thew would purchase this STOCK
tnem . n,or,d give them small majority.
Also :. ..,dorataniing was that It was not
nay S 90. ring or on a common under.
uou S;no Il, hold for each other, but for an
,as,n,ent. and that portions OF it might
10 bought now for fair consideration, q
,.ree part of the stocks yet being owned
IN the State Of North Carolina, and it would
take very little to transfer the control oaeN
to that State, large majority OF Tue
directors living in that State, and
THE MANAGEMENT OF TIE ROAD IN no "loh
rSrERrERED WITH BY THE STOCKHOLDERS
IN BALTIMORE.
These gentlemen have always assured me
that they purchased this stock for invest
ment and have no intention OF selling the
same. and no transaction they have had has
vet come to my knowledge in which they
had not previously consulted with me.
In seeking to purchase the stock OF the
Richmond and Petersburg road, have
had no other purpose or view except to
get to Richmond as an independent rail-
road centre and to increase the business of
the road which I represent. AS for the
Petersburg and Weldon road, they had the
same interest with the Wilmington and
Weldon road. and we did not wish to pur-
chase the stock Of that road unless to keep it
out Of the hands of rival. AS to Mr..
Lyons opposition to the amendment Ito
General Mahone's charter, he did it not for
me, and without my knowledge OF consent.
Nothing else now occurs to me, but Will
answer any questions that may be pro-
pounded.
.NR. sRIpGERe's ASSOCIATES.
Mr.. HILL: Who are your associates in the
purchase of the private stock in the Rich
mond anti Petersburg road?
Witness Mr.. W. T. Walters has fur
nished the money, with the understanding
that other stockholders in the Wilmington
and Weldon railroad would take portion
Of 1.-THE intention being to secure har
monious working Of that road.
Mr. HILL: State the names of the othel
stockholders in the Wilmington and Wei
don road who are interested in the pur
chase. 2..
WITNESS: Mr.. Walters and Mr.. New
conner have been associated with me in THE
purchase of it with Mr.. Walters's money
MY understanding from the beginning ha;
been that it would be divided among tho
Baltimore or any other stockholders Ill the
Wilmington and Weldon road so as to be
held In the interests of that road.
Mr.. HILL: Are you not president OF the
line of road from Weldon via Wilmington
to Kingsville, S. c.:
Witness am.
Mr. HILL State the names of the non.
resident directors in the road of which you
are president.
Witness: B. F. Newcomer, w. T. Wal
tiers, j. D. Cameron, S. NJ. Shumaker,
Thomas Kensett. These are all the non
residents. A majority live in the State.
Mr.. HILL What connection, if any, has
either of your nonresident directors win
the Pennsylvania railroad or roads trlbu-
tary to it!
Witness: Mr.. J. d. Cameron is president
of the Northern Central railroad. Mr.. New
conner is a director in that company, and
owns. think he told me, twenty shares at
$50 each. Mr.. Walters told me he had
never owned stock in the Pennsylvania
railroad, and, l think, none in the Northern
Central. Mr.. Shumaker don't know. He
is director in the Northern Central rail
road and in the Bay.l line and Seaboard and
Roanoke railroad. My impression is that
Mr.. kensett has no connection with 1t. and
nv understanding is that none of them have
any connection with the Pennsylvania rail-
road ITSELF don't know about Mr.. Came
ron, but the others have not.
Mr.. SEGAR: What amount of stock does
MIR. j. D. Cameron own in the roads OF
which you are president:
Witness About 500 shares. 1t may be
few over or few less.
Mr.. WooD suggested by Gen. Mahone] {:
In saying that Gen. Malone would under
take to purchase the State stock in the
Richmond and Petersburg railroad "for
us" you did not mean for yourself and as
sociates?
Witness No; but my idea was that II
was bound to be bought to carry out our
understanding.
Mr.. SEGAR: What is the aggregate amount
of stock held in the companies OF "hlch
You are president by those gentlemen whose
names you have mentioned as nonresident
stockholders?
Witness can give you only an approxi-
mate answer-cannot pretend to precision.
! think Mr.. Walters owns between 4,00O
and $500; MIR. Newcomer, think, some
where between 1900 and 1,4Oo; Cameron
owns 500; shunaker owns 5Oo; am not
certain about Kensett, but from 300 to 800.
A recess was then taken until 8 o'clock.
AFTERNOON SESSION.
A. +ha ,fyarpoon session Gen. Malone