The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-02-08
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PURCHASE.
WHO EowM rzaE SYNDICATE"

FERRrAKY 6, 1878.
-,nq!c Committee OF Roads met ut lo
o'clock.
t..gul TlyIor In the chair.
4 BoAB-suEll. EXPLOSION.
vr. Page, counsel for a. J. Broadnax, W.
J. Eloadnax. and +. W. wilkins. read 4
r,.irI6n which had been presented TO the
-,ut'r and referred 10 the committee.
Tn, petition is rs follows:
oJa Gy G,n.ral ASSembly Of Virginia
Your petitioners. 4. J. BroadnaX. ". +,
rr,9dnax, and r. ". wilkins, citizens of
rr,,u>wick county. in this State, respectfully
r. p..scn, that they hold in the aggregate four
l,,niyrd and forty-iiye shares of the capital
sock nr the Petersburg Railroad Company
that Tie said stock, with the exception Of five
ur six shares, Was bcqucathed to them by a
relative. who lived near the line Of said rail.
road. and who subscribed said stock for the
,r,rpo>r of aiding in the construction of i
J.lliuai between the city of Petersburg and
i,,r town OF Weldon. in North Carolina.
"Ycur petitioners further represent that
rsF,y are deeply concerned as 10 the fate of a
hin NOW prndin. before your honorable
taa, the object Of which is To authorize the
SIT ,p,alnny To- build n new road in conncc.
rinu with ij> own, orto purchase other roads,
ssu- - secure Il continuous line from Wei
don 10 Washington.
"To cilrc; This end the bill in question pro.
llt,- that the sad company may increase its
s,uth to 1900. 900. and issue bonds and
uor'.ctsc upon the property. rights, and
trm h,.s ut the said corporation.
; -t,.,tt ttny 1Sn
h"I their stock, with no speculative view
tar 4, m investment, and they believe, il
it,. proposed measure receives the sanction
m ~" GcilrJl Assembly, that their rights
ia rhr said railroad will be greatly impaired
a.,i their Interests utterly destroyed.
Your petitioners further show that in
,'uHr last the president Of said company
A,rr,ir"u kagiaud} and his associates, having
acquired Il majority oi the stock, declared
IA IT stock preferred stock, voted to said
I;,.itnd a salary ot $l2,nU0 pcrannum (morc
taH twice as much as any lormcr president
r. th, road ever received and further voted
/, Themselves, and have since appropriated
{" ,IIcIr own uses, I'll" large sum Of $40 ,GQ0
cl tI... money "t ilI" said corporation, upon
tac lTctcnre that the sum aforesaid was the
aggregate OF dividends accrued on the 50.
u
tATly Years.
Duriug tlT- long lapse Of time neither the
>,a'e OF Virginia nor the city OF Petersburg,
tie former owners Of said stock, ever init.
mated such cIaim--a claim which your pc.
tIliomcrs are advised is without foundation
either in law OF Justice.
And they are further advised, and believe
thai The proceedings last referred to are q
fraud and Outrage upon the rights Of the mi
nority stockholders. by mtn clothed with q
hi-h trust. whose duty ii WAS to guard anC
protect their Interests. and not to sacrifice
t:.tin tor his own selfish ends.
Your petitioners also show that, as tflt
nttural consequence Of their wrongs, their
stock has greatly deprecated in value, and
they icnly believe that if their property,
ihu, deprecated. is TO be diverted from its
legitimate purposes and applied to a new
and different enterprise. with which they
desire 10 connection, it will become utterly
worthless. And your petitioners do mos
earnestly protest against any legislation in
this CommonwCaith which will give sanction
to >Gch frauds upon the rights of her cti.
1"us and effect to 4 private job and spccula-
tlun
"OtAer stockholders, who stood as your Pc
ttioncrs now stand, and with WHOM it was
their purpose 10 unite, instituted Il suit in
equity TO set aside the fraudulent actings and
doings Of Tie SAID Ragland and his associates
hIt your petitioners, living some distance il
The country, did dot get here as early as
iHoFcd 10 be necessary, and upon their ar
rNaI they found that the ring had bought out
the plaintiffs ut $50 per share, and were not
III want of any more stock.
II But your petitioners aver that Ii Is their
purpoSe AT al early day to apply to the courts
iog relief from this unjust discrimination
against their stock, and to compel the sale
l@-'and to di>gorge his ill-gottcn gains.
"lour petitioners further show that the sale
l,a-ttnd has taken from the treasury of the
,nu road, without authority of the stock
h"d"r>, the sum Of 5000. which has been
Psi! 10 the Commonwealth as n tax to Sc
rt.Ic Tie consideration Of the bill ia qucs
ton, the objects of which are foreign to the
purposes Tor which said corporation was
c!rltrd, and destructive Of their rights.
And your petitioners will ever pray, &c.
[>igncdl "a. j. BRoADNAX.
"W. T.. BRoADNAx,
"E. W. WILKINS.
By their attorney, Legh Il. Page"
Mr. Rag!and: l would like to ask the gen.
ucMau il he is counsel for those parties?
Mr.. Page: am, sir.
Nr. Rag!and: What does this mean? Is
II lompoyed in the interest Of the Robinson
DYNASTY, or is it black-mail?
Mr. Page: It is in the interest of the gen.
A"i"rN whose names are signed to that petit
''"n, whom represent, and ask the chair
A!ia o! this committee TO protect me from
'"i remarks tilat would impute that we are
ir'riti'ig to biack-naiI.
Colonel Taylor: The Chair suggests that it
i better not to impute improper motives to
AZ! one If that is 10 be done it should be
u'ne outside the committee.
Dir. Lyon: One of the men whose name
Is >lSncd to that paper WAS present, John
A'll'ian, and participated in the proceedings
"' 'hsl meeting, and heartily agreed to and
'"bd for i'll that was done.
Nr. Page In response 10 that have to
81! l!'at my client never gave any power Of
attorney 70 MIR. Donnan to represent him in
l."'t meeting. and that record SO far as
i.appears, that Mr.. Donnan voted by proxy, is
FALSE.
Mt. Lyon Mr.. John Donnau was there,
aud his tyower OF attorney Ia filed