Lexington weekly intelligencer. (Lexington, Mo.) 1871-1887, 1877-02-17
SALE OF THE LEXINGTON AND ST
LOUIS RAILROAD.


Our readers know that for some weeks
past the Lexington and St. Louis rail
road has been advertised for sale IN the
lutelllgencer. such sale to he made At
the east front door OF The court house in
the city of st. Louis. on Thursday
March LIST, 1877. i'll the interest Of the
first mortgage bondholders. We have.
during the last few days. heard a great
deal of talk on the subject. and as we
think that in all things the peoples in
terests are best subserved by throwing
the fullest light upon every public mat
ter. we shall lay the tac:s before the tax
PAYERS Of Lafayette county. without.
probably, drawing any conclusions from
them in this article. And that there
may be no misunderstanding regard
ing what We shall say, we will mention
the names of all parties. SO that the
subje ct may be brought fairly before
the public. Our readers are tsmiliar
with the tact that there is in Lexington
a corporation. known AS the Lexington
coal company, whose officers are Messrs.
VIM. Morrison. John Reid. John w.
Waddell. Tilton Davis and Edward VIM
SCR. Mr.. Morrison is interested in the
Morrison-Wentworth bank, aud Messrs.
Reid and Naddsll in the Lexington
Savings Bank, and while Mr.. Morrison
is president of the coal company. it
seems that in this matte he is ranked
as more in the interest OF the bank than
in this paper we publish a letter from
Mr.. F.. WinSor, which presents the ar
guIneut made in the matter by the coal
company, but as it is not SO fully set
forth As it has been 10 us in conversation,
We will give it, rs we understand it, in
full. Mr.. Winsor is the secretary oftle
coal company. which generally employs
about one hundred and fifty hands, but
which has been compelled to discharge
these miners. recently. because OF the
reduction in the amount OF coal taken
by the Missouri Pacific railroad. the
principal consumer From Mr.. WinsOr
We learn that the coal company thinks
that there is X combination to sell the rail-
road III such a way As TO leopardlze the
interests of Lexington and of Lafayette
county. This combination. it is limited.
IS between the county court. the county
agent in the matter, who IS Also the
agent OF the foreign bondholders, Mr..
James Wentworth. and Col. Thos. 7.
Akcrs. OF this city. L member of the
board o: directors OF the railroad compa-
nv'and some Of the directors who live in
Pvtiis. That there is some sort OF 4
Combination IS said to be evidenced by
the fact that Mr.. Wentworth was. sew
eral weeks ago. sent to Europe to con
suit with these foreign bondholders. 1t
i. further thought that Mr.. Wentworth
and Col -Akers are working IN the mat
ter with a view solely to secure what
commissions they a from the bond
holders. without regard to the interests
OF lie xiugton and Lafayette county. and
that when they get possession OF the
road It will be leased 10 the highest bid
der. whether it be the Missouri Pacific
railroad. which should have the control
OF tho road. or some other railway
which would operate it iniIulcallv to
10 Lexington and Lafayette county. Mr..
Winsor claims that should the u = be
sold or leased to The North Missouri
railroad, there would be no competition
in trai gifts to this point, and that the
county would lose Slju.OCU per annum
in enhanced t~reights. He further be-
lieves that the Lexington coal compa-
ny would in that event be compelled to
suspend operations. as the Missouri Pa
citic would not buy coal that had to be
hauled over An opposing line. when it
has coal upon Its W track, and that
thi, would seriously injure the business
of Lexington, and through this place be
Il great injury to the county. He also
believes that the county can gain moth
ing by being a stakeholder in the road,
as the road can earn nothing beyond the
interest on the first mortgage bonds.
Mr.. Winsor further thinks that the
county should not have appointed Dir
Wentworth its agent in the matter, and
that it did not understand the effect such
appointment would have when it wal
made. Alter hearing a full expression
ofthese views, we sought Judge VIM
Young, who was or the bench when Mr.
Wentworth was appointed. and who
was the county's agent in casting her
vote for the board of directors of the
Lexington and St. Louis railroad com
pany. After we had introduced the sub
ject, Judge Young SAID: The court
appointed Mr.. Wentworth agent from
the very fact that he WaS the agent Q
the foreign bondholders, and that the
only chance to save any Of the county
r~angemsnt with them, as the road WA.
bound to 60 into their possession.
appointed Col. Akers a member of thu
board Of directors because he was tn
only person that suggested a feasible
plan whereby the county could save an,
OF her stock. ! Can explain the who'll
matter to YOU. but you had better Sc,
Col. Akers, as he originated the idea
and will tell you all about it. One thin.
| will say. and that is that the court i
this matter has acted tor the benefit O
the whole county, and not OF Lexington
in particular. The only party that ha
ever reaped a dollars direct prof
ont OF the road is the Missouri
Pacific. which has nearly worn the roa,
ont without paving a dollar tor its use.
, With this much from Judge Young, WI
sought Mr.. Aker-, at his residence
= where he has been confined all winte
Ivy Illness. and laid the case before HIM
asking an explanation of his ~connectio
VIII! the matter, what had been done
! and what was still proposed to lie done
MIR Akers replied substantially az 10.
! lows: This subject WAS first broache
, to me last Spring. and | was asked m
views as to whether or not it was poss