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

That II II admitted by said corporation
that two thousand six hundred and forty
(2.640) shares OF its stock were not repre-
sented In said meeting OF June %, 1881, In
any manner or form.
And your orators believe and charge that
without the votes Of said pool nominees
under the said agreement OF December 40,
1880,
THERE WAS NO QUORUM
OF stock holders present or voting.
Your orators further show unto your
Honor that the said proposed scheme OF
consolidation declared accepted as aforesaid
involved a consolidation Of The three said
corporations into one corporation under the
name OF the Richmond, Allegheny and Ohio
Central Railroad Company, extending the
whole length OF the three said corporations
In the three said States.
That because Oi the great and exceedingly
I valusble properties and franchises OF the
said Richmond and Allegheny Railroad
Company and the depressed condition OF
} the two other corporations Zone being a
/ mere paper cOrp0rstiOn), the SAID scheme OF
I consolidation proposed that the holder OF
each share OF stock in the Richmond and
| Allegheny railroad should receive 120 per
cent. thereof 10 stock and 80 per cent.
| thereof in income bonds OF the consolidated
4
company.
Tnat it also involved an election Of dIrec-
tors OF the consolidated company, and that
/ the following. named parties were at the
said meeting OF June 90, 1881, declared TO
| be so elected-to wit:
VIM. II. Barnum, Calvin s. Brice, Daniel
p. Els. Thomas Ewing. Francis o. French,
Joseph II. Gray, Jos. s. Miller, Henry c.
Parsons, George j. Seney, Samuel Shethar,
George f. Stone, Samuel Thomas, and
Charles T.. WorIhsm.
And that the call for said meeting gave
no notice OF the election Of board Of di-
TectOrs.
That your orators cannot give
FURTHER DETAILS
with accuracy, because, although said pro-
posed scheme Of consolidation was printed,
yet +. Il. Leland, secretary Of the Rich
mOnd and Allegheny Railroad Company,
upon your orators application filled and
refused to furnish him copy thereof; but
said secretary did state that the full con-
tract was subject TO the inspection Of stock
holders st his office, In the city Of New
York.
That II the names OF said directors are
not accurately given above 1t is because said
secretary failed and refused, on your ora
I
and your orator has gwen them as accu-
rstely IS he could.
That said Francis q. French is president
aud director and said Henry c. Parsons
T. vice president and q director, and SAID
Joseph II. Gray, Samuel Shethar, and
Charles L. WORKMAN are directors IN said
Richmond and Allegheny Railroad Com
pany.
That very soon after said 23d day OF June,
1s31-'o vii, on the 1St day Of July, 1881,
although the necessary notice had not been
gwen or the time come for regular organ
zation OF said Board Of Directors-there
being an evident purpose to
RUSH THINGS
4 majority OF said directors met in the
city OF New York, State OF New York,
and adopted 4 scheme for raising IS 000,
600 under their supervision aud con-
troll as q Syndicate Committee, with said
Francls q. French as chief or head, for
the purpose OF building said consolidated
railroad from Corning, Ohio, 10 the cross
| ing OF the Chesapeake and Ohio railway.
That said Board OF Directors or SyDdi-
cate Committee put forth in the city OF New
| York a prospectus OF said scheme under
| the nominal date Of July |, 1881, the date OF
said meeting, copy whereof, furnished by
the said secretary Of the Richmond and Al
leghany Railroad Company, is herewith
Glsd, marked Exhibit -, and prayed, &c.
| That the said prospectus recognized the
right or privilege OF the stockholders OF the
Richmond and Allegheny railroad 10 sub
scribe 20 said loan to the amount OF $4,000
| 900: that is To say, i'm the ratio Of ~ per
cent. upon each share OF stock, the payment
OF the subscription to be subject to the call
o. Cvn6iaatn a (ompfiffpp nd fh Al the
right or privilege to subscribe 10 future
| loans would be limited to those stockholders
who could or would exercise this right or
privilege.
But that It was further stated that the
right or privilege was limited to the holders
of one hundred shares, and to Saturday the
| 10Th day Of July, 1881, as the balance Of sub
ScriptiOn not then taken had been placed.
That said
SYNDICATE COMMITTEE
had thus arranged to secure for themselves
| the bulk OF said loan and TO reap the bulk
| OF the enormous beuen's and profits herein
after set ont, ~ to be derived from the sub
scription to said loan, and at the expense OF
the other stockholders not admitted; Tor
! IL WAS well known that much OF the
stocl. was held by parties who owned less
! than one hundred shares ; and while said
! prospectus proposed TO raise the large sum
OF two millions OF dollars from the Rich
mond and Allegheny stockholders, and re-
quired the cash payment Of tTO hundred
! thousand dollars in the short time hereafter
set forth, and although issued nomnally in
| New York under date OF July Isl, was first
published in
THE "DISPATCH" NEWSPAPER,
OF this city, on the l2th day Of July, 1881,
only four days before the stocknolders'
subscriptions should close, and The cash
payment be made I'm the city Of New York,
and express assent to said consolidation
was required.
That said prospectus contained no state
ment OF what 4 stakeholder should receive
for his subscription, or how or whether he
should be secured, though the facts in these
regard, were fully known to said Syndicate
Committee, composed 0i said directors, who
were, as above set out, directly interested
in reducing the amount Of said subscription
TO be taken by said stockholders, and were
not disclosed to said stockholders.
That your orators were not advised there
OF until subsequent 10 the
CLOSING or SAID SUBSCRIPTION
on the 10th day OF July, 1881, when your
orator, with due diligence, applied to the
said secretary OF the Richmond and Ale
ghanv railroad for Information, setting
forth the facts, and inquired il he would be
admitted to share the benefits OF said sub
scripliou, and was Informed that he would
not be.
That your orator was lately informed by
said secretary that each subscriber OF
S4, 900 will receive therefor
so per cent. first mortgage 8 per cent. ooo
on erc.rt y nor cont, incorne bOuds- - 3 200