The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1881-08-16

the Richmond ana Aleghany Railroad
Company that George +. Harrison" whC
sues on behalf OF himself and all other
stockholders will on the oath instant
apply to Judge George l.. Christian for an
injunction TO restrain said company from
consolidating with the Atlantic and North
western aud the Ohio Central Railroad
Companies, or IL said consolidation he found
legal, then to restrain the consolidated com.
pany and the Syndicate Committee from
issuing the stock and income bonds pro.
posed, and that all proper accounts be taken,
&c. Judge Christian is now out OF the
city, but Mr.. Harrison (whO is member OF
the law firm OF Harrison d BurWel) eX-
poets him to return to hear the motion on
the day here designated. The clse, how
ever, belongs to the Chancery Court. and
the following bill, TO be tled at an early
day, sets forth with great particularly the
charges made and remedies sought by the
complainant:
TO the Hon. Rd,oGrd II. Fitzhugh, judge
! Of the Chdncery Court Of the city Of Rich
| mOnd;
Humbly complaining, sbOweih unto your
| Honor your orator, George b. Harrison,
Who sues on behalf OF himself and all other
stock holders OF the Richmond and Alle-
ghany Railroad Company in like situation
who will come in and contribute, &c, that
ne is the holder for value Of ten shares OF
she fuIl-psid capital stock Of said corpora
lion, OF The par value OF one hundred dol
lars per share, having purchased the same
on or prior to the 4lh day OF June, 1881.
That said corporation was chartered By
the General Assembly Of the State OF Vir-
Haia with very valuable rights, privileges,
a.. liz ID 20
ACQUIRE all the rights, franchises, and pro-
perties OF the James-River and KanaUba
| Canal Company, and did so acquire them
as contemplated, whereby the stock Of the
said Richmond and Alleghany railroad be-
came very valuable and Of
READY SALE on THE MARKET
selling in the early part OF June, 1881, at
about seYenty-two or three dollars per
share.
That the acts OF Assembly and said char
ter, which is PRAYED to be read and taken
as a part Of this bill, authorized said Rich
mond and Allegheny Railroad Company 10
consolidate With the Buchanan and Clifton
Forge Railroad Company. and said CONSOLE
daiion WAS duly effected. hut said Richmond
and AlleghauY railroad was not author
| izcd to consolidate with any other corpora
ton. The said charter limited the amount
OF stock Of said Richmond and Allegheny
Railroad Company 10 five millions OF dol.
lars that i, fifty thousand shares.
That said charter limited the amount Of
mortgage Indebtedness 10 either 4 first
mortgage Of five miliions Of dollars and 2
second mortgage Of four millions OF dollars
upon the main line and its branches and eX-
tensions, or a first mortgage OF four million
dollars upon it, main line, omitting IT.
branches or extensions, and thereby gave
It an election TO do either, but not both, and
said corporation WAS not authorized TO issue
any other or further mortgage or lien upon
its works, properties, and franchises; that
said corporation made its election which
mortgages il would issue, and did so issue
them, and that said corporation IS bound by
its election so made and acted upon, and
cannot issue any other or further mortgage
or lien upon its works, properties, and
| franchises.
That by reason OF
THESE LIMITATIONS
above set out the stock OF said corporation
was very valuable, and sold on the market
at a high price and readily, the stockholders
having reason to anticipate early dividends
upon their stock.
That the Board OF Directors OF said cor
pOration called q meeting OF the stOckhOld-
ers thereof for the 231 day OF June, 1881,
to consider certain contracts and proposed
consolidation OF said corporation with the
Ohio Central Railroad Company, corpora.
ton Of the State OF Ohio, and with the At
| lantic and Northwestern Railroad Company,
q corporation Of the State Of West Nir-
glUia.
That at said meeting, and in the absence
OF a quorum OF the stockholders, the said
proposed Consolidation was declared ap-
proved and accepted by the stockholders OF
said corporation by the votes OF ---,
who claim TO hold power OF attorney, ir-
reYOcabe for a number OF years, TO vote the
majority Of the stock ns they please, from
former owners Of the stock-many OF whom
lave sold their said stock and have now no
beneficial interest therein.
| That said
IRREVOCABLE POWER OF ATTORNEY
is claimed under an agreement Of the 29;h
day Of December. 1880, between Samuel
| Shelhar, james r. ClOssOn, and Others, on
deposit and In the custody Of the Mercsn.
tile Trust Company, in the city Of New
York.
That the stock Of your orators was voted
| by the said parties above named In their alb
sence by virtue Of said power OF attorney
| that your orators never gave any power OF
attorney 10 the said parties above named TO
vote their stock At any time or place.
| That your orators are unable to give the
names OF the parties who voted their stock
and the other stock under the said agree
ment OF Goth Of December, 1880. That
your orator applied TO +. X. Leland, secre-
tsry OF the Richmond and Allegheny Rail
road Company and eb-oticIO keeper OF the
records and minutes Of the meeting OF
stockholders OF said corporation, for the
names Of the parties who voted said stock,
and that said secretary failed and refused 10
furnish said names.
That your orator applied to the Mercan-
| tile Trust Company, where said agreement
Is on deposit, and the custodian thereof, for
copy OF said agreement, and that said Mer-
camille Trust Company failed and refused
TO furnish your orator copy thereof.
Your orators ale advised, and so charge,
that the holder OF stock in corporation
cannot give power OF attorney to vote said
stock not coupled with an interest that will
be Irreyocsble after he has sold the same
and parted with the beneficial interest
therein; that upon the vendor parting with
his beneficial interest his power OF attorney
10 vete bis said stock is ipS0 Jdct0 revoked
and said
POWER OF ATTORNEY IS VOID;
that said parties who claimed TO vote The
stock OF your orators, having no power OF
attorney from them, could not vote the
stock Of your orators, and that their pre-
tended voting OF your orators stock was
Therefore illegal, null and void, and Of no
effect