The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1874-03-03
A Gard from General M. w. Cary.

Z A Gard from General M. w. Cary.
MR. EDITOR: In reply to the remarks
of Mr.. Hurley, ON the Tax.Payers' Me-
mortal, delivered in the Legislature, I
deem it proper to make the following
statement from memory, the records not
being accessible:
To the year 1871, prominent members
control of the Greenville and Columbia
Railroad. It was feared that it was the
settled purpose Of that party to secure
the control of all of the most important
corporations Of the State, and thereby
perpotuato the power Of their party.
The Financial Board Of the State Go,
vcrnment, under an Act. .ofst6e- bqgisla:c-
ture, was empowered to sell 81, 800, 600
worsh 81 stock in the Blue Ridge Rail-
road, which was held by the State, and
which was sufficient to control suid
corporation.
was approached by SIr. George S.
Cameron, President of the Loan aud
Trust Company, of the city of Charles
ton, who had advanced q large amount
OF money 10 relieve portion OF the
bonds Of the Blue Ridge Railroad, that
had been plnced by President Harrison
as collateral for loans made to him by
parties in the city Of New York; nlsu,
by Mr.. Thomas Steers, a contractor Of
the Blue Ridge Railroad, who had u
lien on 50. 10000 of the bonds of the
Blue Ridge Railroad, on account of his
contract. They stated that if the stock
of the State was purchased, it would
give those who purchased it the control
of tho ROAD new President and new
Board of Directors-which would enable
the bonds to be placed at higher figures.
and that Mr.. Steers would be enabled
to go on with the work, and the road
would be completed. Afterwards had
a conference with Mr. ". J. Magrath,
President of the South Carolina Rail
road, and be expressed himself as nnx
ious to secure the control of the Blne
Ridge Read. and said that if we sue
ceeded in purchasing the State stock,
he would use his influence to induce the
Directors Of his board to purchase from
us.
Believing that an opportunity VAS
thus presented to pass the control Of
this corporation into the hands of those
whose Interests were identified with tho
State, I, together with others. formed Il
company for the purpose of purchasing
the stock held by the State. The stock
was purchased and transferred for the
benefit of George S. Cameron, Thomas
Steers, il an J. Patterson aud their
associates. IF there was any bribe
offered or paid to the Financial Board,
to induce thom to make the transfer Of
the stock, I know nothing Of it. was not
party to it, never paid dollar, nor
| fn
dollar for that or any such purpose
The city of Charleston owned about
81 ,O00 200 of stock in the Blue Ridge
Railroad Company; private individuals
about Sl34 .O0U of stock; and the amount
owned by the State. tho controlling
interest, was about $1,000 600, which
which was purchased ut one dollar pcr
share.
Having purchased this stock, and
thereby secured the control of the Blue
Ridge Railroad, on the 18th November,
1871, the following members were elect
ed Board of Directors: Gen. John A.
Wagner, Mayor of Charleston; Henry
Gourdin, of Charleston; Wm. J. Ma
grain, rresluena poutn Carolina isalI-
road; Andrew Simonds, President First
National BANK, Charleston; George S.
O"taSiObb ASoloCdt boOutu SaTOilII
Loan and Trust Company, Of Charles
ton; Gcn. NJ. G.. Butler, Of Richlanl;
Gen. A1. W. Gary, of Edgcfeld; Col. J.
S. Co.hran. of Abbeville; Wm. L. Gu
lick, Cashier Carolina National Bank,
Columbia; J. j. Patterson. Vice. Presi-
dent Grcenyille and Columbia Railroad;
Cold. 3. Palmer, President Centrni
National Bank, Columbia; Gen. j. w.
Harrison. Of Anderson; Thos a. Scott,
President Pennsylvania Railroad Com
pany; Hardy Solomon, President South
Carolira Bank and Trust Company, Co.
lumbia; L. J. Steers, of O:ouce. This
board organized by clecting the follow
ing officers: james S. Cothran, Presi-
dent. aud j. l.. Palmer, NJ. G. Butter,
NJ. ". Gary, j. J. Patteron and Il. j.
Steers. members OF the Executive Com
mittee. It will bn seen that we gave
Charleston five directors to represent
her stock. MIR. Magrath, President Of
the South Carolina ltailrond, was one of
them, and was present Mt the meeting
and participated IN the election Of the
above named officers.
One Of tho first official acts Of the
Executive Committee was to tender the
stock purchased from the State to the