The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-04-07


fDNDA !. RlLss, Aoso
Ine WING and the Transfer OF slook J.
The Whiy Of SATURDAY contains an al. sas
IL rep,y 10 one in the Dispatch BEADED
So Ta,e DESPATCH against the Board OF raohs
yynrss aud o,bers.o A very adroit MODE o.
l.tattnp the adverse parties to the consfo
.rsrsy. The Dispatch Is oaly supporting tne
reaftruth and justice Of tbis question OF @ the
.rsnsfer OF t.l the stock held by the State In
.be pruyile railroad, and In, Of course, op
posed to everybody who takes the side oppo
Site 10 That st maintains. ,fssg,5, ,,,s - sss
~ The only point in the controversy dis
cussed bs the Wing IS that assumed By the
committee OF stigation, appointed by th'
Houss Of Delegates, that the State was ignoI
rant s,f the fsct that her number OF snases
!, had been Increased at the annual meenng ot
Che 9Danytjle Railroad Company held 40
,rsecarns,er. 1866. While this point mas 20
ssnes:aIrine whatever upon the question, since
,.ba la,o authorizing the sale OF the state 9
8 .stos.e 10 the road ordered the Board OF Puo5
lie Works TO sell all Of the stock owned oyI
her In it, even on that point the Wigs testi+.
,mony 10 worth absolutely nothing. .rs
The Whis brings forward four witnesses
10 prove that the State Of Virginia did not
kao,c ,chat she Das doing when she ordered
an her stock in the DanvIile railroad to be
sold for a certain amount Of her o'oa
bonds; the aggregate value Of which amount
Of her own bonds was greater, according TO
their market price at the time of sale. than
the aggregate value of ali her stock In the
5Dsnyille railroad at the then market price ofB
that stock! These witnesses are the Cow
.ernor of the State, Auditor TAYLOR, Thomas
Fl. DEWIrr, former secretary, and WrIrtAa'I
D. COLEMAN, present secretary, of Che Board
of Public Works. And what do they say!
.WnIIAa D. CoLEMAN asserts that the NUM-
her OF shares held by the State In the Dan;
Vile Railroad Company on the 18th July,
1870, according to the books Of the comparf
nv, was q, 1000; yet that no scrip had been
issued to the State, and that the State had
not been politically notified Of any increase
s,ofthe number Of her shares above 10000
u Governor WALKER testifes that be only
knew of the property held by the State IN
the Richmond and Danyille Railroad Coms
pany from the books Of the Board of Public
Works. He supposed it to amount to
81 100000 in shares of the par value OF Sl00
(which property was not increased in value
one cent by doubling the number Of the
States shares]. se,,.s. .sestal .ssisa
Mr.. TAYLOR, a member Of the Board Of
Public Works, protested Ignorance Of the
increase Of thenuna5er of shares of the State
in the company, and Mr. DEWITT is in the
same category. zfT:hs |
U.s. Well, what Is all this worth? Everything
! eqainst the WING. Mr.. COLEMAN testifes
positively that the State was credited on the
books OF the Danville Railroad Company on
the 18th July, 1870, with $4,000 shares, Gas
appears from the reports Of the said company
to the Board of Pubkc Works for the years
1857, 1868, 1869, and 1870" This was off
F3cial sohJscation to the State fortn this MAJ
!. ter TIC Board of Public Works Is The State
sitself however Mr.. COLEMAN may have UNI
derstood it. -: ssata '4sA&i
=. 8; This might be enough. The case might
rest here upon the statement of the Wings
witness but we will show below that. the
Board of Public Works reported that 1t had
.grbeen thus officially informed Of the, increase
of the number Of shares of the States stock
.stsaithe company. ..5;I -.s<:. ~.
80 We say .s ~ So
First. The State was owner of three-ffths
OF the stock of the Danville Railroad Com
pany--was represented by proxies in the
annual meetings. and by directors in The
meetings of the Board of Directors of The
I company. Her eyes were always upon the
] .company-har votes always given upon al
questions originating in annual meetings and
in meetings Of boards-and in law and
5 equity she is completely estopped from The
J. plea OF ignorance Of what was done by The
company, H., d. s.1gi . !, 1.''..
But the fact is, that according to the WiuS.
own witness the action of increasing The
number Of shares was officially aadstknowr
sato the State OF, the Board of Public w orkb,
(Which, as we said above, is the Stately fol
four successive years, and that thisincreas.
was in accordance with authority gsper !,
an act of the General Assembly. 49,. s.ss
y And the Board of Public Works itself, II
9.i its own report, acknowledges that tit hsi
the official information Of the doubling .
:, the number OF shares Of, stock held by tn
u state. q sss $3.50. s4s'v'i s''' s's''sefi.
Mr.. BuFoRD, president Of the Danyill
railroad, In his testimony says 49, s ,ss
.sg / also call the attention Of the ceininitte
to q volume Of Reports Beard Publ
- Works 1s87-'70, herewith submitted, a du
plicate Of which may be found Id the 0ffc
of the Boasd Of Public Works, PARTICULAR
g TO the letter ai dressed to the General Assem-
bly, by Thomas III. De Wit, Secretary Of tn
]. Board of Public Works, BY order Of tn
Board, dated January 2lst, 1870, in which
is to be. found on the first page, numbered
Y iii, statement showing that the amount o
stock subscribe by the State was 81, zoe, 600
81 and That it was z increased 81 100000
y so that The Beard of Public Works and Mr.
s / homasH . DE w nc had in their possessio,
q reportH from this company showing fully ant
s. distinctly that the capital stock OF the Stat
M had been incre8sed, and the exact amount o
Z such Increase s[HoW does this tally Wit
tha evidence Of Auditor TAyLoR, membe