Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1881-06-07
LEGAL COMBAT.
The Stockholders Of the City
Railway Company Stirred Up.


granted against Mr.. +. s. Davis and
Mr.. Vredenburgh, ofthe street railway
company, in behalf of Mr.. Thomas
Barrett, the late superintendent
and purchasing agent of the
company. The bill claims that
Mr.. Davis and Mr.. Vredenburgh
are in arrears to the company
in many thousands of dollars, and that
they be enjoined from drawing any
more money or issuing any more bonds.
The injunction restrains defendants
and all officers Of the railway COM
pany from issuing or selling any bonds
of the company, and restraints Davis
and Vredenburgh from receiving sala-
ries from the treasury Of said company
and from buying up any Of the stock.
Among the papers to be presented in
the case is the resolution of the street
railway companys directors as below.
1t is stated that the company sunk
$1,000 in this enterprise.
RESOLVED, Whereas the street rail-
way company has been greatly dam
aged by certain violent and scandal
Gus attacks made upon it by the Mem
phis Evening LEDGER, and to protect
the company and defend it from great
continued loss which it is sustaining
by reason of said attacks, it is the
opinion of the board Of directors that
it is advisable for the interests Of the
company to loan some money, not to
exceed 1880, to an opposition evening
paper; therefore,
Resolved, That the company loan
to the Memphis Evening Herald from
time to time such sums as it may re-
quire, not exceeding $500, for such
purpose.
Seconded by II. V. Vredenburgh
and unanimously adopted.
Within the past day or two Mr..
Thomas Barrett has been removed
by the company from his position as
superintendent and purchasing agent,
and Mr.. Raphael Semmes, son Of the
late Admiral Semmes, has been ap-
pointed to fill the vacancy. The fol-
lowing was the act from the company S
minutes removing Mr.. Barrett:
Il. Townsend moved the adoption of
the following
WHEREAS, An attorney has ap-
peared at this meeting Of the board,
and stated that he represented Mr..
Thos. Barrett and L. Bills, two Of the
stockholders of the company, and has
\ exhibited written authority signed
by Mr.. Thos. Barrett to so represent
him, and stated to the directors that
he protested against the board taking
any action at its present meeting.
That Mr.. Barrett would file a bill in
the courts to enjoin any action of this
directory, and
Whereas, Said Thos. Barrett occu-
pies the important position of super
intendent OF the company, and it is
believed that for him to longer con-
tinue in that capacity, is inimical to
the interests of the company, therefore
Resolved, That Thomas Barrett be
removed from his position of superin-
tendent and purchasing agent Of the
company, and that the president be
directed to employ some suitable and
proper person as superintendent, and
place him in charge at once. Adopt
ed-ayes 3, noes |.
In the chancery bill prepared by
Mr.. H. M. Hill in behalf of Mr..
Leonidas Bills, Of Hardeman county,
it is stated that Mr.. Bills, the COM
plainant, is stockholder to the ex-
tent of $4,000, paid up. He invested
in the same, believing the railroad
company, under a faithful and honest
administration, would be safe if not
profitable investment. In 1871 the
company had been under the control
of +. S. Davis as president, r. V
Vre1euburgh as president and
treasurer, and Thomas Barrett as su-
perintendent. and it is still under the
control and supervision of the said
parties.
He charges that according to the
statement furnished by parties familiar
with the affairs of the company from
May 1st, 1871, to May 3lst, 1880, the
receipts sum up Sl,00O,790.05;
credit by expense account, $6S3 GA 48;
salaries paid Messrs. Davis, Vreden-
burgh, Townsend and Barrett, slOl,-
83l.79; leaving the net profit Of $2l5.-
34384. Notwithstanding the immense
profit so realized and the duty Of the
officers to distribute the same by way
of dividends, no such dividends have
ever been declared, save ten per cent
paid complainant within the last few
weeks, which he alleges would not
have been paid but for his threat to
file this bill.
Complainant further states, that
while he is advised at this step Of the
proceedings, it is not essential to enter
into the details Of the wrongs and
Irregularities which have character
lied the official conduct of Messrs. Da-
Wis andVredenburgh since their Undue
tion into their respective offices, yeI
Mr.. Davis, on the 23d Of December
1873, sold to the company his stock
therein at the figure Of fifty cents on