The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1871-01-06
bonds have been issued, and what was the col
sideration received for the same"
PRESIDENT ROBERTS TEsTIFIEs.


sideration received for the same"
PRESIDENT ROBERTS TEsTIFIEs.
George l.. Roberts, President of the Alexan-
dria and Fredericksburg Railroad, testided:-
The attention of the Pennsylvania Central Rail-
road Company was attracted to this road from
the fact that their line was locked up at Balti-
more and they were unable to make satisfac-
tory arrangements to get freight and passen~
gers through to Washington; That company is
now building line from Baltimore to Washing
ton under charter from the Maryland Legisla-
ture. When we got 10 Washington we found we
we're still as bad off. There was gap between
Alexandria and Fredericksburg which there had
been effort to fill. 1t subject to Interrupt
ton from ice in winter, and was unreliable.
Parties approached the Pennsylvania Central
with an offer to sell the franchise OF the Alex
andria and Fredericksburg Railroad. MIR.
Lincoln was the party, and said that he had
control of the charter. We examined the mat
ter, and found that the charter was imperfect;
that 500 900 had been expended on the road,
and that $210 900 had been issued by the COM
pany to pay for it. We told Mr.. Lincoln that If
he would get the charter perfected and made so
as to extend to the end of the Long Bridge, and
would bring us all the bonds and stock of the
company, we would pay him $S0000 In the
early part of June, 1870, he brought to us the
charter perfected as we wished, except proviso
that the line from Alexandria to Washington
should not be constructed until the line from
Alexandria to Fredericksburg had been COM
pleted. This proviso, which was Objectionable,
he explained by saying that 1t was inserted by
another interest to give them the advantage of
o few months more control of the traffic. We
accepted the charter. Mr.. Lincoln then brought
us all the bonds, stocks, ETC., of the company,
and the designations of the President and
directors. then gave him my check for
$4,000. We since changed part of the loca-
tion of the road and are now working on it.
In the early part of the spring we thought
we could make connection at Fredericksburg
with the Richmond and Fredericksburg Rail-
road Company. Mr.. Moncure Robinson told me
owned stock enough Richmond
fredericksburg and Potomac Railroad, and
controlled enough held in England, to carry any
point he might promise. That company desired
to build the first ten miles of the road, aud Mr..
Scott our agent, agreed 70 it. l should not
have done it. The agreement entered into be-
tween the Richmond, Fredericksburg, and
Potomac Railroad was that the two
roads should be run as unit, and we
should have the right to put agents any
where South to solicit freight for any
poiut North the Richmond, Fredericksburg and
Potomac Railroad Company to receive its pro
rata. Mr.. Robinson submitted the proposition
to Mr.. Daniel, President of his road, and after
wards said it was rejected and gave several
reasons for it, one of them that he owned seve-
raj steamers. and the Pennsylvania, Central
might put freight down so as to render them
useless. We then made another proposition
TO lease the Richmond, Fredericksburg, aud
Potomac Railroad, and pay to the shareholders
per cent. This was refused We then offered
to buy out the stock mt 50 per cent. above the
market pride. That was refused. We offered to
buy his stock, and fixed the price at
$4,CC0,C00. OF course this was out of the
question. We could build road at half the
money. He estimated the value of the road at
$4,000, 600, and its not being taxed by the State
at 81 COO 900 additional. We didn't believe that
the State would long exempt it from taxation,
and thought the value set fictitious. We
then saw no other way but to apply to the Legis-
| lature, and we now propose to build road from
| the end of the Long Bridge to Richmond to
| carry passengers from Richmond to Washington
| at one-half the price and in one-h9lf the time.
We are forced to ask this from the Legislature
! in view of our investments in Virginia. We
| understood that Mr.. Robinson was able to sink,
and was sinking, his interests in the roads in
! which he was interested in order that he might
make his property in steamboats, more valuable.
With reference to the legality of the COM
| pany whose road we purchased, that question
has been tried in two courts with, to us, success
| full results. We knew nothing, and suspected
! nothing, of fraud. All the agent who sold to us
contracted to do he did in good faith, and got
| his money. We have seen nothing to move us
from our belief that the company was legal, and
the transaction perfectly fair. All the stocks,
bonds, ETC., brought to us we investigated and
believed to be correct; and believing so we stand
upon the legality of our position.
THE MONEY ALREADY PAID BY THE PENNsYL'
| VAKIA CENTRAL.
! We have paid for this road $50 600; $15 00C
for engineering and $40, 600 for turnpike road
which we intend to use. We supposed that II
there was anything wrong in the original char
| Ter ln6 Legislature WOulQ nave curSu II
! when it revived the charter. We never had any
suspicion of fraud in the matter. 1t is one hun
| dred miles by the road we wish to build from
| Alexandria to Richmond, about sixty miles
shorter IL an the present route. Mr.. Moncur'
Robinson is going on to build the ten miles o
road, expecting to connect with us at the en-
of it.
THE PENNSYLVANIA CENTRAL COMPANY HA
CONTRACTED TO TAKE $40000 IN BONDS
of the Alexandria and Fredericksburg Railroad
Company at par. 1t backs that road in its con
struction from Alexandria to Richmond. TIL
money is already collected for that purpose
and is now out at interest az per cent?. pal
81 for coming here from Washington. We ca
carry passengers between Richmond and Wash
ington at SO 25, and passengers can go t
Washington and return in a day. In relatio
to freights, / would say that the passenge
rates on the Richmond, Fredericksburg
and Potomac Railroad are double what ar
charged on Northern lines, and the rates o
freight rather more than double. The road
throughout the South charge more than
charged up North, which probably accounts fC
the condition of the Southern roads. If we al
0llowed to 90 on building the road from Ricl
mond to the Long Bridge, we can finish 1t in Il
teen or eighteen months. There are 100 or II
men at work on the road The reason more
not under contract is the delay occasiOned
, relocating the road. am Vice-President of Il
, Pennsylvania Central road.
l Welded WOE.
{ A Rich Petition for Divorce.