The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-02-08

stock RS your own?
Mr. Ragland: l certainly bold it as much
US any man ever held anything in the
world 3'-'tf
Judge Crump: Iknow you hold it; but
you have not the certificate in your posses,
sion. The legal title to that stock is in the
Board of Public Works with the scrip that
it holds. !. 81 vi
Mr.. Lyon: That scrip still stands in the
name Of the city Of Petersburg.
Judge Crump: Yes; but held here under
mortgage. Mr.. Ragland. youhave not yet,
as understand from your statement, paid
for the whole of the stock?
MIR. Ragland: have paid for all received,
and more to. 's.s,t
Judge Crump: You have not paid for all
Mr.. Ragland: I have not paid for all be.
cause. they have not delivered it.
Judge Crump: What is the difficulty in
delivering it.? ~, ssssg
Mr.. Ragland i think I can explain it,
For the Endorsement Of those bonds the
stock was held as collateral, and until the
stock was taken mp. Those bonds have not
matured yet, and when they are taken UP
the stock will be transferred to me in case
urged the delivery of the stock. This act
was passed by the, Legislature. 1t was done
because if wanted the stock sooner could
get it. 1t was done at my request, SO that
they could substitute some other security.
Judge Crump: understood you bought
the city stock. : l.. ese f. .,- rt
HOW MUCH OF THAT STOCK HAS BEEN PAID FOR
Dir. Ragland: Well. I would have to GO
into calculation about that. paid them
one hundred and ffty-four thousand and
some odd dollars. G, ~
Judge Crump: And are to pay the balance
whenever you choose? i'
Alr. Ragland: Provided they can deliver
the stock, which ! suppose they can after q
little time. a.a'S,
Judge Crump: Your statement was that
you originally agreed to pay So share?
Mr.. Raglan1: made purchase of the
stock from the Finance Committee at $50 per
share, and the writings were all arranged
for the City Council to act on it. 1t had to
get the action of the Council before they
could close the transaction, and when we
went into the Council that evening, and the
Finance Committee laid the question before
the Council, everything that had agreed tc
was in writing-my proposition and theiI
acceptance. After being in there few min.
utes, very much to my surprise Mr.. Boiling
| came. in with Mr.. Tennent and Mr. McIl
waine, and the first thing knew Mr.. Boiling
made bid of 500 share for the stock. HI
| got up and ranted and foamed at the moutl
| good deal, and said he was not willing tha
| the stock should be sold at S55. I got u,
and asked the chairman of the Council
| whether it was an auction goin- on, O.
what was meant--whethcr he took out
side bids from outside men, or whether
l,if they made a bid for the stock i
was to be put in writing-somethin,
| binding. 1t seemed that the auction ius
went on. bid S57. The auction went o.
| that way until we run it up to $50. Mr.. Bo
ling bid $50 and Idropped it. Well, as 500
| as / dropped it he seemed to be somewha
who was going to join him in it: and how
could pay for it. returned again, and b
said he would not be bound. returned an
bound myself in writing till the next eve
ming. that would stand by my bid. Th
| next morning these gentlemen who had bee
opposing me-NIr. McIlwaine, Mr. Leslie, an
| the two Bollings-and the whole ring whic
had been fighting there, pooled their stoc
| and gave it to broker, and sent the broke
to me q will not give the name Of til
| broller) and offered to sell me majority (
| the stock in the Petersburg road, with wht
| had, at 500 sbare, provided would NJ
stand by my bid on the city stock. T,
| mai kcd to the broker / would not buy the
stock at $40. They made out there in Coul
Gil great hurrah about it that the city w;
parting with thing she ought not to pal
with; but these identical gentlemen ba
come and pooled their stock. and were vii
ing to take advantage Of the city at go rathe
than TO see the city get SS5 share. Said
No; j would prefer to give the city $S5 t
giving these gentlemen $40 for their stocl
They said they thought it very sinSula
SaysI, Well, you have your hotiot's about j
and l have mine. The next evening tll
Council met and determined to sell me til
stock. They did sell it to Inc, and compile
| with all the terms, and went even further.
Judge Crump: Who was the chairman {
the Finance Committee?
Mr.. Ragland Was it Mr.. Donnap, MI
Lyon S-I don't recolect just now.
Mr.. Lyon: don't remember. I will te
you who they were: Young and
, BROOKS,
Donnan, Richards, and Raine. Donhan We
chairman recollect now.
Judge Crump: Your arrangement ha
been made, then, with the Finance Commit
tee to buy it at $50?
Dir. Ragland: l treated with the Financ
Committee because that was the proper char
| mel. They laidit before the Council.
! Judge Crump: Were you buying for you
self at the time you made this proposition
the Finance Committee?
Mr.. Ragland: Well, the thing has turne
out to show whether | was buying for m.
| self or not.
Judge Crump: You stated in your formt
examination that there were others inte
ested in the stock besides yourself. Wei
the same parties interested at the time yo
made the bid for the stock? -.....
Mr.. Ragland: No, sir.
Judge Crump: Dir. Brooks. you say, wa
one; of the Finance Committee that ottere
to make the sale to you. How long after thi
was the contract made !? - =. a.. = :. 49,"
Mr.. Lyon: The 18th day OF February tt
contract was made.
| Mr.. Daniel: Who were the purchasers ?
Mr.. Lyon: Mr.. Ragland bought the stoc
on the I'd day Of February. y
he OFFERED 1T TO MR. ROBINSON, AND THEN
AR. WALTERS.
Mr.. Maben then came on from the Nortl
| and Mr.. Mallory and Mr. Plummer and N
| Brooks made the five. That was on the lit
day of February that the contract was made
Judge Crump: The question was,whethe
those parties were interested ut the time tn
original proposition was made?
Mr.. Ragland: | just told you that the
| were not. %
Judge Crump: Who were the parties /
interest, then? Who were the purchaser
at the time the offer was made to the Cour
Gil committee2
Mr. Ragland: That is going to get us int
| mass Of private matters. II it has an,
thing to do with this case | will answer it.
| Judge Crump: I only want to kno'
whether any of the persons who afterWa
1 .-:l ,..;th. 1a,a 1.ri,or. nlad