Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1877-07-07
WASHINGTON and Ohio Railroad,

| had cxpt ct4d after my reply to Dir. h. s.
AcComb, of the 23d of June last, to hear no
more from him through the newspapers. But
it seems he wont stop writing, even after ne
has evidently nothing to say. He charges me
with bitterness, passion aud loss of temper
This is all CANNON. 1t the same shallow de-
vice which is practiced By certain class OF at,
toroeys Of the lower courts when pressed hard
by iilaSputeLRs facts No, it is not my temper
which discJmposes Mr.. McComb. but the array
Of recorded facts, taken from the Journal of the
! W. 4 0. Il. H., Of which be and bis confede'
rates were directors; from their deed Of trust 10
avcr Of the ". & D. bondbo ders and their
Contract with themselves OF the q OF July 1869,
by which they took s33S,000 Of the bonds OF
toe Alexandria, Loudouo and Hampshire Rail
.,,ad, and agreed lst to adVanc. thereon $40
| 900; u, 10 Construct acd equip the road from
| hamilton 10 Winchester, TO be paid Tor out OF
| further negotiation Of the bonds. They further
covenaoted by article !, that should the com
plny change lis corporate name the contractors
would cali 10 and caucel It's first mortgage bonds
! 1.-THE l. & H. and substitute for them the ".
T. Q. boods. Constituting part OF the board OF
Gtrcc!ors they BIZ their deed of trust of Apri! |,
ISL. 30 Herman and BaI'zar, trustees for the
! ". t .. boudhoidcrs, represented and guaran
,tsd hat the bonds issued aod sold TO said
bvuthuiders wers the first lleo OF the road With
the exception of SIS 900 to the A., l.. & RI.
Railroad and deot to the State and one
to Clarke county. o. the 30:h Of May
1872 The executive committee, composed OF h.
:. MeComb, j. Efa'ey Smith aud Lewis, OF
whicn Il. :. MeComp was chalrmao, were au
thur.Z.d 70 retire the A., l. Il h. bonds %
| IL. Of no ~ X
equal amounts. Accordingly the President mad.
tender OF said boods 10 the several contractors:
anl Messrs Ames, Kennedy aud Bardwel
Md, the exchange, bu; the very men who
composed the committee, NlcCoub, Smith and
Lewis, were thc c3utIacto7s. who have failed 10
do SO, tui still hold said boDds and claim them
az rriorit!es Now al! these stubborn facts Mr.
nlcCainb attempts to goZs over BY what he
call. avery simple case 'Tha, they loaned the
ccupauy eight years ago, large sums or money
10 Ie,v. it Ufits pressing embarrassment, &C.
But during that time they have not received
dollar pritciplc or interest ~,
His simple case is reduced to this That
ttoush t!ivSe pa,tes made contract With them
selves q, dire or5 aud received from them.
selves 1888 900 OF the bonds OF the company II
opposition to all law aud the rules Of the com
pauy, which made the contract void that
though they failed entirely to perform their
nart Of the couLraci, to wlt: the making OF the
road, the negotiating OF the bonds, or the cX'
chausc OF The bonds for the ". i 0 bonds as
soVn q they should be issued; that though they
had represented 10 their deed of trust and mort
gage - the ". & O. bondholdrs that there
we're outstanding, as prioriies. only tweoty-
i've thousand dJars OF the l.. l. II. Ii. Il.
bonds not pledged to be returned, when there
were aud are hu !dreds of thousands which they
refuse 10 return; ~ which representation the
purchasers Of the ". j. 0. hoods We're de-
cei7rd aud lefrauded into purchasing bonds
butd ned with len times the amount OF -prlori'
t tiea represented; yet they, McComb & Co.,
ought % have their money hack, principal aud
intcrca.. ihi: Is 40 exceedingly simple case,
: and such one as 90 one not afflicted With the
simple wcud ogard for a moment.
Mr.. McC0nb relies much on the action CT
: the hoard Ct August |, 1874, which he seems
10 thick vas complete estoppel 10 any claim
or protest Ct the parties whose rights were then
tioa!y decided. This WAS a nice little private
arrangement. He says the &c: vas performed
. with great s3!cmn!y. Never having been dig
olled with the bon:T q! seat d: the board OF
railroad | can 0Gy sur!ulse what these s0ie1l'
miles Hcrc. In Waitsr OF this vast import
aarc, in which the rights aud fortuocs of con,
GIins vidoas aad orphans, Old men past the
lIuio Tor work, c!ergymen, contractors who had
bulk, aud employees who had worked CD the
road through summers heat and winter 5
, tier bonds AID deed Of trust aud 10 the
yeal'g reports Of the board, had put their
LITTLE al 10 thasa securities. | suppose
these proceedings were opened with prayer aud
Invocation IRON % high that their Deliberations
should be guided By wisdom and Justice.
!: thick | seq half dozen or SO directors
aIouad their table, deIiberating with all the
!; solamEity 0! birds Of Digh:, aud, coming. final
IS. to the following sage conclusion :-C0nsid.
erinr that Fl. $. Mcromb aud Others received
1888 900 eli the l.. s. Il. T r. bonds, AID
ogrccI 10 advance thcreoo 1926, 900. aud 10
build esd stock the railroad to Winchester, ioy
which BE- VAS to be furnished, from t!ne 10
,ituc, With other bonds 10 raise money Tor that
rGrr2Ss considering that the said McCoub
!. l. c.. have In 90 reSp'c. performed their
Cy1;rGc: Oh ;h!0T0 spadetul OF dit towards
the c2as'ru,li1o Of The said road; considering
h it It was iuttjer agreed that on said Me-
Co1!b aud uue others furnishing $3.50 900, the
COn?aog agreed % 6 i've them a. bonus, a
lsj3rjty q TIC stock Of said Company. 50 that
they sh?uI! haze controlling power thereto,
and that The said Contractors furoshcd but
= 80 w. 'ul 5dfS ~ tiCu VI Luz Oa!ouCS tLS
names 10 the contract OF Two MN Of straw
M4ss:s Chadwick aud Sykes-8hose actioo
ceased with signing their pames to the said
conir4ct, but, nevertheless, the said McCoub
Co. g: the stock and a controlling
posoT in said road; considering that, Of
TT they thus become directors in said
read and made L cootrac: with them,
-eiVrs ~ when they got toto their possession
most o. the available masns Ct said road {;
,asidering that they made covenant IN
der tcelr seas tbat MS soon as the W. s. y.
K. J. should issue thsir bonds they would eY-
change Al. their L. s. Il bonds for the same ;
considering thai, - directors, they made mort.
gage snd deed Of trust to the bondhoider; Of the
". s .. K. K, representing thst only So 90
o. outstanding bonds Of the L. & u. R. K. stood
8: PRIOR liens 10 their bonds: considering tia.
Il. . MCComb. as chairman, and 5. F. Smith
srd Lewis c-muosed ni!tee to retire said
L i =. bonds AID substitute tie W. s. o. in
Their place, and that after eff-cting the exchange
with three OF the contractors, diminishing to
,ha. extent the l.. & Il. bonds, which stood, as
they supposst IS liens prior ID the W g. o.
bonds, they declined making the exchange, but