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


Respectfully, submitted in behalf of the
DIRECTORS.
1t was moved that the report be
received and approved.
Col. HeiSkeil, Attorney General
of Tennessee, said that he had heard
with great deal OF interest the Re
port of the President and Directors,
and he saw in il the idea Of railroad
expansion clearly set forth that the
Company had been making pur-
Chases with view Of forming new
lines OF communication. The point,
however, which he wished to come
To was this. lie had read in one Of
the city papers that the Southern
Railway Security Company had sue
ceed2d to the management Of the
line from Bristol to Memphis, with
Capt. JagueS rs General Manager;
this article, though published six
weeks ago, had not been contradict
ed and was republiShcd in Jones'
bOrO' paper recently. This is an
important statement and should
have been referred 10 in the Report
Just read. He said 81 wish TO ask
you, Mr.. Wilson, as President of
this Road, is this statement true OF
untrue"
Mr.. Wilson, President Of the Com
pany replied: off the Southern
Railway Security Company have
anything to do with Encouragement
of this line of Road / k2OlC nothing
about It,"
Col. Heiskell said: It is stated
further in the JoneSborO' paper that
the Southern Railway Security Com
pany had come into the manage
ment of this Company by the pur-
chase of a majority of its stock aud
it is further publicly reported that
such sale as this alluded to has
been made. Addressing Mr.. Will
son, Col. Heiskell said, Il ask you,
sir, as the President, respectfully
but directly, whether such is the
fact or not? Whether or not you
have sold your stock and whether
McGhee and others of your Board
have not sold their stock, in all some
5000 shares to the Southern Railway
Security Company or its agents? ?"
To this question Mr.. Wilson an
swered "The books will show who
are the owners of the stock"
Judge Barton thought it was sim
gular, and, he might say, an iInper-
tinent question, TO ask what had
been done by private stockholders
with their shares Of stock.
Col. HeiskelI said that it was not
an impertinent question; that he
thought that any stOckholder had
the right to ask another Though he
be the President or a small share
ho,der) whether or not he was the
bona EGc owner Of the stock stand
ing in his name.
Mr.. Baxter said the Southern Sc
curity Company were not asking to
vote. 1t would be time enough
when they did, to prohibit them
He reviewed the affairs of the East
Tennessee, Virginia and Georgia
Railroad for the past five years. The
stock, five years ago, was worth but
90 cents on the dollar. Under the
careful and successful management
of officers. it has risen until it is
now worth 60 cents. It's business
had largely increased, its road was
in thorough repair and it was COM
paratively out Of debt. Mr.. Heis-
kell was here as the paid attorney of
Gen. Malone. If this was not so
Mr.. Heiskell would correct him.
Col. Heiskell said that he would
be frank with the gentleman that
he was present as a proxy represent
ing shareholders aud also as cOun-
sci for Gen. Malone aud that he
hoped that Mr.. Baxter would be
equally as frank with him in an
swering such questions as he might
PROFOUND.
Col. Baxter then said that he was
n stockhoider of the road and as
such felt content with its manage
ment. General Malone might have
made such proposition as was re-
ferred to, but making ii was one
thing and paying for the stock was
another. He thought General Ma
hone had enough to do to manage
what roads me had. He said he was
authorized by Mr.. Barrett to say
that some time ago the stock OF Ma
homes road was worth thirty-five
cents on the dollar, but now it was
only seventeen. He then asked MIR.
IIeiskell if he was not paid rs coun-