The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-02-05
VIRGINIA NEWS.
Letter from Petersburg.
correspondence Of the Richmond Disnatch.
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l. 4
PETERsBURG, February 8. 1879. i
Judge Weisiger had sustained the de.
murrer entered by the counsel of-the CITY
Council against Mr.. Paurs bill of Injunction.
and had dismissed the bill, with costs. MT the
time sent you my special dispatch Mt II
O'Clock last night. / will presume the sit,1a.
ton of things Mt that hour to be understood
tby your readers. The committee, on its re-
turn to the Council chamber, reported the
decision that had been made by the Judge,
and the motion. was made at once to accept
and ratify the contract with Mr.. Ragland,
and to adopt an ordinance carrying its pro-
visions into immediate effect.
AS a substitute for this, Mr.. T. L. Fl.
Young moved to sell the stock ut auction to
the highest bidder; which move wus de
feated, when the original motion Of the
Finance Committee was unanimously
adopted. =
After the adoption of a resolution offered
by Mr. McCaleb, appointing O committee Of
three to inquire into and report upon the sale
Of the AppomattoX River railroad to the
Southside Railroad Company, the conditions
of that sale, and whether or no they had
been respected, the Council, close on the
stroke of II, adjourned, after the most ex-
it ever held. Public interest never tagged,
and up to the hour of dispersal the lobby was
crowded with spectators.
1t Is my business to write you news, and
not to express mere opinions. 1t is proper
to say, however, that this railroad transaction
has been the theme of very voluble discussion
everywhere about town to-day, as yesterday
also, and that every man you meet has a
fhao IF TO- ,boflt no, nd
under, and has inspired the remarkable series
of events. Intelligent and mature opinion
has, however, very generally agreed upon this
view Of the case: that the purchase was
merely colossal private speculation of Mr..
Ragland's, who is one Of our most acute and
bold fnanciers, who was backed in it also to
the tune Of over hundred thousand dollars
by prominent banker Of your city. The
suspicion that the rival railroad corporations
were moving the hands of the individual bid
ders has been removed or certainly modified !;
for Mr.. Ragland, it is stated, is ready
to sell for the highest price to the man
who will give it. But another complica-
ton arises here in the refusal of Mr..
Raghnd to comply with the contract, which
he claims to have been vitiated by the in
junction and his declared withdrawal of his
offer. The purpose, it seems to be, is to
induce the Council to compromise on some
thing less than SS5--say SG0-rather than incur
the risk and delay of suit. I don't think
the Council, however-even the slippery
ones--will surrender SO large an amount as
$4,000 Of the peoples money without
struggle for it's retention.
In the debate last night it was stated by
DIR. John Lyon, who is said to be retained as
counsel by the Petersburg Railroad Com
pany i'll pending case, that the company
had not paid a dollar Of dividend since the
war, except from the proceeds of the sale of
bonds at eight per cent, having borrowed
100000. for that purpose. This creates no
small sensation here, though it has been
whispered about for considerable time.
I learn that suit was instituted against Mr.
S. B. Paul to-day for $1,000 to compel him
to pay the expenses of the injunction trial.
This is rather heavy bill for the services of
three lawyers for two or three hours. Major
Sringfellow, however, earned his fee if
services for so short time could be reckoned
worth so much money. His speech was q
model Of eloquence and logic.
The debate before the Judge and the scene
in the Council chamber, rs the members
awaited the result, were without parallels in
our municipal history.
The Board of Trade held meeting yes
tcrtlay, and appointcda committee OF three
McssrS. S. W. Venable, George Cameron, and
J. L. Aiaclin---to petition the Ways and
Means Committee of the House of Repre'en.
tatives of the United States for uniform
| tax Oh tobacco.
We never have had worse weather here
1 aboutsThan we have suffered from to-day.
Mayor Wood has returned.
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