Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1872-11-26


doing. Mr. HeiskeU said he ap-
peared as proxy for stockholders
and as Mahone's lawyer.
Mr.. Baxter then referred to the
prosperous condition of the road un-
der Capt. Jaques and his associates.
He said five years ago the stock was
worth 20 cents; now it is worth so
cents. In the meantime, the State
debt had been paid at a saving of
one million four hundred thousand
dollars to the road :; it had settled
its claim with the Government and
saved the company about four hun
dred thousand dollars it has better
rolling stock and q better road bed
than ever before; and while it has
done all this, it has reduced IocoL
| Jreights % per cent, and passenger
rates from ) to cents per mile. He
thought it the best managed road in
the South, and did not think stock
holders wanted Malone, who was
operating rival road, to come, by
his paid counsel, and dictate who
should be their officers.
The real cause of the SOlicitude of
General Malone for the interests of
the holders Of the minority OF stock
is that he is afraid his line will be
injured by the competition of the
Western North Carolina road, pur-
chased by The East Tennessee, Vir-
ginia and Georgia Road, which is to
be pressed through to the Atlantic
cost, making it rival to the Nor
folk and Bristol line. This, it is al
legged, is the secret of MahOne's cf-
forts to overthrow MeSSrS. Wilson,
Jaques and McGhee.
Concluding, Mr.. Baxter moved to
lay the report of the President Oh
the table until the business of elect
ing the judges of election and in
spectOrs Of proxies was accomplish
ed. Agreed to.
Mr.. Baxter then moved to lay the
substitute offered by Mr.. York to
the resolutions by Capt. Jaques, on
the table-the vote to be by stock.
Mr.. York asked how a vote By
stock could be taken until it was as
certained who held the stock. Let
the stockholders vote ciUG Uoce. If
the vote was taken by stock, who
could vote?
Judge BartOn-Of course nobody
but stockholders.
The Chair stated that in accord
ance with q resolution, the Secretary
had made outa complete list of stock
and the list was now on the table.
Mr.. Eeiskell said there could not
be q stock vote taken until it was
ascertained who held the stock.
JudgeBartOn answered there could
be no trouble to take the vote. MIR.
Heiskell is here as q pIOXy. Even
if President Wilson had sold his
stock he can vote as proxy.
Mr.. HeiskeIl replied that he
thought not. IF president Wilson
is a proxy for the Southern Security
Company he could vote, not other
wise. He insisted that he had q
right to ask if GfT. Wilson is the
bona fde owner Cf The stock he claims
to hold, or whether he has sold it to
the Southern Security Company
He mad frankly answered Mr.. BaX-
ter that he was here on behalf of
Gen. Mahore and he might retort
that Baxter is a retained counsel CT
this Road, as well as an individual
stOckholder. He had been informed
that Gen. Malone had made a pro-
position to President Wilson to pur-
chase the entire stock Of the E. T.,
Va. & Ga. Road and to pay 100 cents
on the dollar for it, and had desired
President Wilson to call his stock
holders together TO act on the offer.
He asked Mr.. Wilson if this was so.
President Wilson replied No.
Col. Heiskell, continuing his re-
marks, said: Mr.. Wilson answers
no. 1 (IIeiskelD viii make q state
ment in regard to what I understand
to be the facts OF the case and the
stockholders can judge for them
selves. There is 10 one on this floor
who will dare question the integrity
of Gen. Malone. Gen. Malone told
me that ouch g proposition was made
to President Wilson through Major
Moses J. WicllS Of Memphis. I
know Major Wicks personally. l
know him to be a gentleman of both
honor and integrity. Major Wicks
told me that such proposition was
made to President Wilson by him
on behalf OF Gen. Malone. And
now there is a gentleman on this
floor, sitting in front OF me, who is q
well known resident OF Knoxville,
who informed me that Mr.. G. NJ.
McGhee, one Of the Directors of this
Company had stated to him that
this proposition of MahOne'S was
made, but not until they had sold
their stock to Tom. Scott and his ass
sOciateS.
Mr.. T. S. Webb responded that
Mr.. McGhee came TO him and after
considerable conversation said that
he (NcGhee) wanted to put him
Webb in possession Of the facts,
that the proposition from Gen, Ma
hone to President Wilson was not
made until after they had traded
with Scott,
Col. Heiskell cOntinuingsaid, Gen.
Malone says that he made this pro-
position. Major Wicks SAYS that he
did make this proposition to Presi-
dent Wilson on behalf Of Gen. Ma
hone. Mr.. McGhee tells Afr. Webb
that the proposition was made to
President Wilson, but not until af-
ter the trade with Scott had been
made. And now upon the state
ments of these gentlemen the stock
holders present can determine tCi5eth-
er President Wilson'S denial is tr3te
or untrue. The gentlemen in charge
of the East Tennessee Virginia &
Georgia Railroad may not have fail
ed in its management, but in this
matter they have not regarded the
interests OF all the stockholders.
A discussion then followed par
ticipated in by Messrs. Heiskeil and
York on the one side and Baxter and
Barton on the other.
1fr. Henry Hoss of JoneshoTo' IA
stockholderj when Col. Baxter was
calling for the vote upon the point
of order raised against lir. York,
appealed to Baxter TO allow the dis
cussion to continue; that the infOr-
nation being developed was OF great
interest to tie stockholders nd he
hoped that Col. Baxter would allow
it TO be continued.
I'M Taylor. also a stakeholder,
said s'that if to stffle discussion is
YOUR, Mime we want to know il.
o. i,-icfoI t1,.nfa h;c rOf,af