The farmer and mechanic. [volume] (Raleigh, N.C.) 1877-1885, 1881-07-07
The Atlantic & North Caroline
Railroad Leased to Mr.. Best.

The stockholders Of the Atlantic &
North Carolina Road met in annual
meeting at Morehead City on Thursday
of last week. Nh. F. NJ. Simmons,
State proxy, announced the following
Directors on the part of the State, viz:
Jno. ID. Whitford, G.. G. Clark, w. +.
Caho. Paul f. Faison, II. F. Granger,
} e. Davis, G. s. Wooten and j. f.
Parrott, and the following constitute the
Directors on behalf Of the private stock
holders: Jas. A Bryan, Eugene More
head, John G.. Wooten, ST., and G.. r..
Thomas.
Propositions for a lease of the road
wore made by Messrs. Il. r. Bridgers
and John +. Devine, on the part of the
Wilmington q Weldon Road, and by
Mr.. w. j. Best, President Of what is
known as the North Carolina Midland
Railway We have not seen either Of
the two propositions, but learn that both
proposed to lease for a term of thirty
years, and pay a rental OF $40, 900 n
nually for the road. Messrs. Bridgers
and Devine made a plain, s%traightfor-
ward business offer, ~obligating them
selves to furnish ample collaterals for
the faithful performance of the condl-
tons OF their lease, and agreed that the
tariff and classifications existing on the
line of the road April st, 1873, be the
limit Of freight charges, but Mr.. Best
evidently had the State and the larger
private stockholders on his side, and
although the Midland Railway scheme
at present has existence only on paper,
and may be said to be a speculation, the
road was leased to him by an over
whelming majority, the vote being
| ,327 for and sol against the lease.
On Friday the lease was submitted to
the Board of Directors for approval in
accordance with a resolution adopted by
the last General Assembly We learn
that there was a considerable squabble.
and at one time a deadlock prevailed,
the vote standing 6 to 8. as follows: For
lease Jas. A. Bryan, II. +. Granger,
J. r.. Davis, j.. C. Wooter, c. T..
Thomas. and Eugene Morehead. OPP
posed p. F. Faison, G.. S. Wooten. j.
ID. Whltford, G. G. Clark, w. II. Caho,
and j. L. PARROT. The deadlock was
broken Saturday noon by Mr.. Parrot
changing his vote to the other side.
W. understand that the Midland
Company hopes to get possession of the
Western North Carolina Road, and it
is part and condition of the lease that
they will build a connecting line from
either Goldsboro or Raleigh to Sails
bury, work ON this new road to be be
gun within three months from date of
lease and to be completed inside OF
three years, failure in either case to be
considered cause for forfeiture of the
lease. We learn also that Mr.. Best
has made a deposit of $50, 900 at New
bern to cover rental and damages, and
the now management have already as
sumed charge OF the road.
Mr.. Best and his associates arrived
here by special train from New Berne
yesterday, and left for the North on
the 10 a. NJ. train. Mr.. Bests' private
secretary, Mr.. Caddagan, is here await
ing the arrival Of Mr.. Bests' chief En-
gineer, when they will 60 over the At
Road for the purpose of taking
an inventory of of its property. We
that the new management is in
toll charge Of the Road and that for
the present Col. Jno. d. Whitford has
beer designated General Manager OF
termed THE Atlantic Division
of the Midland Railway Goldsboru
Messenger.