The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1876-04-27
TILE VALLEY RAILROAD.
Mr.LA. saxton Defines His Position


A McGREeoR. ESQ In yorr report OF
tho Valley railroad meeting there are er-
ynr rors I did not say that the Marietta
connection would cost about the same as
the Bowerstown or Wheeling connection,
as il IS not true. The Marietta connec-
ton will not cost one-tourth ana perhaps
not one.eighth the money the Wheeihg
connection will. Neither did L say thaV
tbe other Directors of the Valley road
"ail hnt myself, were notacting according
to the wishes of the stockholders" -Four
If the directors have told me that they
we're in favor of the Marietta connectloh,
and would vote for it; in fact SO have
Messrs. Farmer and King, but DelleVe
the other four are and would yote lor II
if they could, but President klhg, anu
Vice President Farmer and Payne are
not and have always done all they could
to prevent any arrangement oelng mace
aid not read any communication pur-
nortInc TO come from Mr.. King; neither
did | saw did not remember WheIher
had attended the meeting OF our board
when a committee was appointed 10 meet
the M. and P. directors. was ADVISED
of the appointment of acommlttee OF me
narties who proposed to furnish the
money TO finish our road, to meet our
hoard or a committee of them lew
weeks AGO. Our board was then in ses-
sion in Cleveland. l telegraphed them
to anpoint favorable committee, and
thew appointed King, Farmer and COOK
the committee therefrom. knew was
not at the meeting, | mtold there were
a majority of the directors present VINO
appointed themselves. 1t being com
mittee composed mostly OF persons that
the other parties had not met before on
this subject, and whose views they knew
as well as did. There has been no meet
ing ofthe two committees YET =,
Your reporter says that Mr.. King sad,
cone of the Valley railroad board hau
attended a meeting ofthe NJ A. r. dlrec-
tors in New York, but no proposition was
made TO him favorably or nntavoraDly,,
but omits TO state that King admitted al
forwards that he was mistaken; that the
gentleman he referred to did not attend
tbe meeting. The meeting in New York
that | attended by invitation was not
meeting of the directors of the Marietta
and Pittsburgh railroad, but were the
representatives and owners of the bonds
of the Marietta and Pittsburgh railroad,
a part of whom had met Messrs. King,
Farmer and | think Payne at Canal DO:
yer previously, and asthey and King told
me, that these gentlemen would meet
in New York, and after consultation with
their associates, would meet with the
representatives of the Valley road, and
see if some arrangement could not DC
made to finish it. After examining our
road and consulting among themselves,
they telegraphed to King and Payne, as
they advised me, but could get no reply.
Knowing our board was in session al
Cleveland, | also telegraph ed to them
but received no reply. At one of their
meetings, for they waited here some days,
one of them said they would take our
bonds at par for the actual cost OF build
ing and equipping our road provided we
would give them an equal amount OF
stock with us, and no one objected to it
but Mr.. Ellis, of Winslow, Lanler & Co.,
who said he had better not make such a
proposition, for he might not be able to
carry it out 1t is true, Mr.. Wagner said
in meeting of part of our board that he
thought | was mistaken in the PROPOSE
ton, but I am very sure | am not, and
that we could have made that arrange
ment then, but through thenon action of
King, Farmer and Payne, las most OF the
other directors were not advised OF it,
the opportunity was permitted to pass,
l have been trying to get the same kind
of proposition from them again, but as
vet have not succeeded, but are promised
proposition soon. In justice to Mr.
King he says the telegram from these
parties to him he never received 1t, hav'
ing been sent to Canton, but Mr.. Payne
admits he received his, and King receiv-
ed mine.
There are other errors and omissions
in your report, but l have not the time
to correct them, and have now perhaps
taken too much of your space.
]. A. SAXTON
New York, April II, 1875.