The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1880-08-17
Belluire Independent.

Bellaire Independent.
The SPIRIT OF DRMocRACY has for
some time been making bitter attacks on
the management CT the B. d S. W. Rail-
way Company, and more particularly on
President Mooney. Latterly the SPIRIT
has been advising stockholders not to
accept the proposition looking to the
surrender of the stock to parties that
propose to take it. giving the holders a
guarantee against an assessment TO pay
the floating debt of the company. Re-
Gently an enquirer of this place has been
trying his hand at assisting the SPIRIT in
its effort TO impair the confidence of the
stockholders on the directory, and joins
in the work Of advising the owners Of
stock to hold to it. The enquirer is too
well informed not 10 know that the stock
is worthless, and that unless by some
means the debt is soon paid the holders
of it will, at no distant dav, be called on
for an assessment, which may be only
IL per cent, hut which will, in all prob
ability, be twice that amount A great
many subscribers to the stock we're de-
ceive0 by the representations of the en-
quirer and others IN regard to the divi
dends and drawbacks to be paid 10 the
holders of stock, hut large number put
no confidence in the statements made Ivy
speakers anxious to induce men 10 sub
scribe for stock, and this class suhscri-
bed expecting to lose the stock entire.
but many of them have carefully, long
ago, disposed Of their stock, to avoid,
lif possible, being reached by the now
threatened assessment, and the wisest
thing that the present holders of stock
can do to-day, if they can get good
guarantee against assessments is to, Al
the earliest possible moment, dispose Of
their stock 1t is now absolutely value-
less, and there is not the slightest chance
that it will ever have any value for the
present owners, and there is no telling
to what extent they may be assessed up
on it However, II they wish to hold
it there is no power to COMPEL them to
transfer to the parties willing TO take it
and pay the debt. The proposition is q
perfectly fair and plain one, and II hol
ders OF stock think hest TO keep IL, and
pay their, assessments, few people will
object, but the parties who advise them
to do so are neither friendly TO them or
the management of the road.
II the above cost the Railroad any.
thing, somebody has been badly cheated,
because it's q tissue OF falsehoods as
far as this paper is concerned, and con-
cerning other matters about which it
pretends to give information.
We are stockholder to the amount
Of $500, and have demanded, repeated.
", as we had right to-, that the Direc-
tors Of the road make detailed state
ment showing how the money (about
S400, ,000) that was entrusted to their
management was expended. This de-
mand was met by Mr.. MOONEY and Mr.
MONKS with abuse, and they have not
to this time, and we assert that they
never will, voluntarily, present detail.
ed statement of their management OF
the money of the stockholders 10 the
members of the company.
II "the stock is worthless" why are
these men. who are travelling the coun
try. go anxious to shoulder all of it that
they can get2 Why do they agree to
indemnify holders of stock il it is
"worthless p
Is it not novel proposition for sane
men to agree to pay $50, 1000 for lot Of
"worthless" stock2 Men who ask 500 :
600 in stock as security for an expendi
ture of $4,000, which latter sum we
.bSieve they intend to raise by selling
enough of the $4,000 issue of bonds
to make up, are too smart to be caught
investing in anything they believe to be
"worthiess." Aud il paid by selling
bonds will the debt be lessened cent
Enquirer" is well posted about the
management Of the road, and Is able to
defend himself
Mr.. Independent: When any man in
forms you that we are attacking the rail.
road management, please say to him
that We have demanded, what every
stockholder, in any company, has per-
feet right to-a detailed statement of
the receipts and expenditures from its
inception to the present time, and that
the men who handled and disbursed the
funds have not and dare not furnish 1t.
And their excuse, which is an insult to
the members of the company, is that the
company cannot afford the expense.
We have said, and we here repeat it,
that the stockholders should refuse to
transfer. their stock 70 these men, and a,
the next election should turn out to the
last man and elect Board of new men
linen who will not hesitate TO let the
broad light of day shine upon their ev'
cry action in connection with the man
agement Of the road. Fair, square
honest men are the kind the stockhol
ders at this end Of the line intend te
vote for. II you consider that "bittel
attack" you are perfectly welcome t.
make the most out Of 1t you possibly
can.
Report of the Antioch Sabbath
- ~. school Institute.
The sixth session of the Woodsfielt
Sub District S S. Institute was held al
| Antioch. Ohio. .Julv 81 and 22