The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-02-10


! makes such O charge against me. / have
| always shown a disposition to act honestly.
Judge Crump: The resolution of the
Board Of Directors which ! read directed
| that stock to be issued, and supposed, OF
course, it had been done.
Mr.. Raeland: You could not suppose it
could be issued unless had laid myself LA
ble to prosecution. Your good sense taught
you that.
Judge Crump: On the contrary, my idea
was, on reading this resolution of the Board
| OF Directors, that you were required to do it.
Mr.. Easland: Required to do it when It is
called for. If 1t is never called for it will be
never issued, and it viii be never issued until
| that stock which it represents is brought III
and cancelled, stamped, and cut up. Then
the new scrip will be issued; otherwiseit
will not be; and thought you knew me too
well to ask such q question.
Judge Crump: did not ask such a ques-
ton.
Mr.. RaSland: ask every man here if it
had not that colorin2! Any man that i'm
peaches me in any sort Of way ! will have my
recourse at him.
Judge Crunp: do not mean to do any
thing in this case outside Of my line of duty
TO burt your feelings, or to impeach any
mars integrity, unless the evidence i'm
peaches Eim. have not the slightest per-
sona feeling against Mr.. Rasland +; but still,
in 'hc doing OF my duty, if anybody takes
offence at il, holi myself
PERSONALLY ACCOUNTABLE.
Mr.. Ragland: I only meant to convey the
idea that profess TO be an honest man, and
defy any man to bring evidence that | am
not. Lawyers very often say good many
things that they don't exactly feel that they
are responsible for.
Colonel Taylor: hope that from this time
forward all reference to what the opposite
side may mean as to personal matters will
not be made before this committee. am
not aware what questions have given offence,
but think can understand how the mis-
| take arose. AS understand the resolution,
| the stockholders directed new scrip TO be
| issued, and that scrip to be marked new
scrip. Then the Judge asked whether any
nf this had been issEed. 4lr. Ra9land said
| No, but il would be issued when called for.
The Judge then asked il any person had re-
ceiyed any OF this scrip. and Mr.. Raglnd
| said no one had, hut they could have it when
ever they called for it and the subsequent
question was calcul ted to produce the i'm.
preston that some of that scrip had been
| issued. Il WAS all mistake. | do not see
any necessity for any one feeling personally
! agsricved 10y tie questions asked this morn
| ing.
Mr.. Lyon: The mistake has occurred, no
| doubt, as you have Indicated; but Judge
CrumD Was under the impression that we
| had caused scrip to be issued in lieu of the
scrip held rs security in this office, and that
was the drift Of this question. As l knew
that Mr.. Ragknd could not do that without
fraud certainly not without doing thing
| foreign to bis whole naturc-I wanted to de-
vclop that fact entirely, that tic
| $500 SHARES OF STOCK HYroTEECATED
with the State have not been substituted by
auy other stock whatever.
Jndgc Crump: Then l understand, Mr..
Ragand, that with regard to the scrip held
hy tie State-3,500 shares--tlere has been
no ether scrip issued in its placer
Mr. Ragand: No, sir.
Judge Crump: There was an increase
made upon that scrip by the direction of the
Board Of Directors of fifty per cent.
| Mr. Rag land: Well, you must ask somebody
| that knows more about that than do. /
know nothing about it except what the
books show. had nothing to do with the
railroad then.
Judge Crump: You don't understand
me. There was q scrip dividend OF fifty
per cent. declared in 1S5l-'G2. This
capital stock was increased to that
extent. IL the year 1872 you claimed,
after hWiag received this purchase from the
city, thst you were entitled to this increase
OF nifty per cent. on t!iiS stock, which ought
TO be treated rs preferred stock. That is to
had from tie city OF Petersburg, which they
delivered to You, that you insisted that that
stock was preferred stoch-partUok OF the
character, was OF like kind with the original
preferred stock which the city held. Now
want f. ask you whether, with respect to
that 900 shares which had been held l'y the
city us common stock up to the time you
bought it, and which, hy your application 10
the company and by the information Of the
counsel of tic company, WAS changed into
preferred stock-wlctHcr that 600 shares.
of which you held the scrip as common
stock, has been issued again rs common
stock or as preferred stockI
| Mr. Ragl:ind: It is not issued at all !; | told
You tlat aw bile ago.
Judge Cru9r: But you got the 1,G0O
shares from tue city Of Petersburg, didn't
you?
Mir. PaSland I got ,255 shares.
Judge Crump: We'll, the increase was 81
per cent on ,2jj shaleS. Las that scrip
been transferred Oh The books to you:
AR. Eagland: Yes, sir.
Judge Crump: When it was r,ISsucd was
it rcl>,tlcd Is common stock or as preferred
stock! When the ,2j5 shares was given by
the city TO you, and transferred on the books
Of tie company to you, in what form was the
new scrip representing those shares issued
was that issued as preferred scrip under tli:
resolution?
Mr.. Isagland: no, sir, it was issued JUS
the same as before. We had no new scrir
made out. We have prepared book whic!
dcsignHtcs preferred stock, and we have
scrip-book which is common stock. When
ever tHi> preferred stock is transferred j
will have the car-mark-it will be marked
on the face OF il "Preterred."
Judge Crump: There has never been any
issued from that book?
Dir. Rasland: None at all.
Colone! Taylor: Would you be entitled t.
the same amount Of preferred stock il yol
presented your common stock that you have
received from the city Of Petersburg? L
there any authority which would enlitic vol
to receive for that common stock the same
amount Of preferred stock?
Dir. Ragand: Certainly; because the city
Of Petersburg transferred it to me.
Judge CrUmp: understand you are en-
titled to take this stock which you received
from the city and turn it into preferred stool
ut your pleasure.
Dir. RagIand: And not only that, but these
$500 shares here.
| Judge Crump: But you have
NO POWER TO TRANSFER THAT STOCK.