Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1880-09-08
Is THIS THE RECORD
OF A
CHAMPION
Seventh-of: Julyer!
RCadjusting n Railroad Com
pany-Eiminating Sl3,20O
and more.

re adjusting n Railroad Com
pany-EIminating $4,000
and more.
One A. W. Jones. sometimes affect
ionately entitled "Colonep A. w.
Jones by the Seyenth-of Julyers, and a
shining light IN that organization, has
lately been trying the game Of the
friends of Col. Lamb, OF Norfolk-mak-
ing capital out Of the circumstance that
Senator Barnum was civil enough to
recognize him, so far as to reply to q
letter! But Brother Jones will require
innumerable coats Of whitewash tocover
the stains on his reputation, unless we
have much mistaken the gentleman,
and he had better set about the business
of cleaning up forthwith. He Is fond
of referring to New Jersey authority for
his reputation, and we propose to seek
information at that high source. In
1869, the Legislature Of Now jersey
Incorporated a company entitled 1.-THE
Perth-Amboy and El'ze bethport Rail-
road Company" providing that when
500, 900 OF the capital was subscribed
for, and $4,000 of paid in. 1t could go
into operation. Five parties, o f whom
one was a certain Il. ". Jones, surb~
scribed for the 500, 900, and one Of them,
williamson, gave his check, which was
accepted as cash for $4,000, Jones con-
tributing nothing.
Nothing further was done until June,
1871, when Jones, with three others OF
the subscribers, by contract in writing
dated June 5th, and signed by Jones,
sold out the charter for $4,000 TO John
7. Johnston, Esq, and JONES POCKET
ED $4,000 OF THIS MONEY Thereupon
Jones transferred his stock to Johnston,
except five shares which he held to keep
himself in Office as president of the
company, by an agreement with john
ston, who allowed him a salary of So
COCA year.
Johnston nut $ll8,OOO into the COM
pany and proceeded 10 build the road.
On the 14th of Feb, 1872, Jones, with
out Johnston's knowledge, called
meeting of the stockholders Of the com.
pany to elect directors and on the
day designated TWO STOCKHOLDERS
Jones and q man named Carpenter, held
the meeting! This precious couple
showed each other stockholders list in
order to establish their authority, from
which list tie name of Johnston, ,ohO held
chiefly by their o'cn assignment, 40 ont
of the 200 shares ofthe company, was EX-
CLUDED!
These two precious pals held a stock
holders meeting, elected five directors,
who being conveniently on hand, i'm
mediately met aud elected JONES
PRESIDENT Shortly after, Jones
directed books to be opened for sub
scorpions to the stock of this company,
and himself subscribed for FIFTEEN
HUNDRED SHARES, and presented
claims against the company for sl3, 200,
which the directors forthwith alloiced,
and credited him with this sum, or ten
per cent. on 1920 shares of his 1900
and thereupon Jones sold Isl OF his
shares, as he sworc, to a third party for
1856, cash
He ihon drove of JoLnstoil' tpon
from the line OF the road and took pos
session Oft. Johnston injoiucd Joues
from further proceedings, and on the
motion to Dissolve the injunction, the
case went before The Court OF Chancery
of the State Of New jersey.
The court perpeiuated the Injunction;
and in the course OF its opinion, deliver
cd by the Chancellor Of the State, the
court ventilated Col. A. w. jones
wholesomely. 1t showed
l. That Jones had committed pGJWy
when in his answer he sworc that the
original subscribers had actually paid
ten per cent. of their subscription. The
language Of the count is this, after quot
ing Jones' contradictory statements
under oath:
"There may be some way TO recon-
Gle these statements so as TO avoid The
charge of PERJURY, but none that can
commend belief for the ayerment that
each subscriber paid this ten per cent.
in money, especially when contradict
ed by the oaths Of seven Of these snb-
scribers."
2. That when Jones denied that the
transfer and other books IN Johnston's
possession were the true. records Of the
company he knew that he himself had
constantly treated them as the books Of
the company, and had presented them
to Johnston as such official records and
induced HIM TO act upon that repres-
entaton."
3. That Jones committed a further
fraud on Johnston in calling a meeting
of directors without notifying him, who
was at that time acting as treasurer OF
the company.
4. That the proceedings when Jones
and Carpenter got together aud held
their STOCKHOLDERS meeting, choosing
inspectors of election, &C., &C., were
both farce and fraud.
5. That neither Jones nor Carpenter,
the two parties who held that stock |
holders meeting, lever paid any
mo ney for, or had any actual interest
in the stock subscribed for in their
names"
e Thof fha onlv rnlor of iufnrpsf |