The Van Buren press., 1873-12-23
Little Rock ~ Fort Smith Ra:lrOad--
Two Sets Of Directors Elected.
Special Report to the Press.
DEAR DUSHAM

DEAR DUSHAM'-
lust on my way from the city Of Little
Rock, where CHANGED to be on the 18th inst,
the day for the meeting of the Stockholders
of the Little Rock and Fort Smith Railroad,
and believing you are without mail perhaps
a summary Of the meeting will be orsome i'm
portsnce to you.
That you may fully appreciate TIE situation
it VIII be necessary to refresh your memory
with some past events You remember that
the stock issued to Fisher & 90 was TO be-
come voting stock not until the completion {
the road. and therefore the franchise legally
existed only in the original Stockholders.
lou remember too, that Through courtesy to
the Boston capitalist, as well as to give conf
dence, and hasten the completion Of the road
and thereby arrest the embarrassment and
suspense and give relief to the people Of the
Arkansas Valley, they were permitted by the
old Stockholders TO have a voice in the elec-
tion Of Directors for the road. You, perhaps,
distinctly remember too, that, for the want OF
funds, Fisher failed to complete the road ac-
cording to contract and therefore WAS entitled
to no stock, but that he transferred the con-
tract to Atkins q Co other Boston capi-
talists-and that in the great vortex Of events,
it falls into the hands of Sheriff Oliver Of Pu-
laskL Hon. Mcdonald, Henry Page aud
others became Directors, You remember
with what patients the old Stockholdcrs wait
ed and conhded upon the promises of the
controlling powers, and not until patience
ceased to be virtue were they aroused from
their fatal sleep to find the road under an eX-
ecution, and further, that S0,O00oOO Of bonds
had been issued, that the lands of the road had
mortgaged, the State aid for 100 miles of the
road gone, and yet road Of 100 miles, which
according to Barney's report. should have
been built for an amount between 100000
and 100000, not built, and yet calling for
more money.
Without endeayoling to refresh your MEM
ory further suffice to say the old Stockheld
crs deemed itunwiSe and even ruinOus to t tst
the aforesaid company further as a controlling
power, they therefore resolved to resume eX-
elusive control Of the road by excluding the
so-called new stock, thus preventing the
fraudulent election of Directors. To do this.
they obtained an Injunction from Judge
Withcrs cnjoinng said stock.
Early in the morning of the 18th cometh
Bowen Mcdonald, Oliver, Page, &C., with
full purpose to vote, Bowen being. as he said,
the representative of four millions dollars
Boston stock desired muchly to begin voting
All meeting at the office of the Secretary
j " -. ( ht,ir IA nj
the meeting, whercupon one Whce,cr and one
McDaniel-who bad been appointed as two OF
the commissioners for holding the election
refused to obey the injunction ofJudgc With
ers, Willie the Bowen party claimed Alex,
Mcdonald as chairman OF the mcctinE. The
organization of two bodies in the same room
ol course created much confusion. Coy. BaX-
ter now appearing in the scene, showed him
self this time if never before entitled TO the
high respect OF the honest and good citizens
of Arkansas for taking such an unreScrycd
position upon the side of law and justice. lie
demanded of the commissioners by what au
thority they so di,rcgardcd the action of a
Court; told them further, that no good honest
man would disobcy the injunction and he
therefore called upon them to obey. In the
meantime Bowen was mancuyerug as if the
moved that the meeting adjourn to meet at
the Office Of the Little Rock and Fort Smith
Railroad whereupon the Boweuitcs hastily
said 4" L." Thus clear of the intruders, the
Stockholders proceeded to an election. result
Ing in the election OF Sol +. Clark, .. T. Cra-
venS, Anderson Gordar, John u. adams H.
Potts, y. 5, Howe, John T.. Pcay, NJ I. Locke
and Ben. +. Danley Directors.
see from the RepubiicGR that Bowen was
elected President Of their board. Thus we
have two Boards OF DIRECTORS. Night before
last a restraining order was issued preventing
the legal board from taking charge Of the
rond. The train has been stopped at the dis
erection of the Bowenits. Much confusion
seems accumulatiug. The courts must decide
WHO shall reign. Much could be told ol fraud
upon the part Of ,jewentes. Hope you'll
hear all in due time, More anon.
Yours, y. I" B.