Savannah morning news. [volume] (Savannah) 1868-1887, 1881-09-28

who own the Sharss-The Several
Transfers-The Management of the
ROad-Summary of Testimony Be
fore the Legislative Committee.

The following facts with reference to the
State Road lease, drawn out from witnesses
before the joint Legislative Committee of
Investigation, will be found of interest:
Governor Brown testified that the origi-
nal lessees and the amount OF stock they
held were as follows: j. E. Brown, IL
shares; H. I. Ktmbsll, ~ shares; Simon
Cameron, IL shares; Thomas Allen q
share; B. H. Hill, w. S. Holt, w. B. John
ston, Charles A. Netting, w. c. Morrill,,
John F. Grant, John 8. DelanO, w. T. Wal
tiers, E w. Cole, Thomas A. Scott, George
Cook, H. B. Plant, Benz. May, Ezekiel
Waitzfelder, VIM. B. Dlnsmore, John P.
King and Richard Peters, l share each;
making in all % shares Alexander Steph-
ems had half share, but he returned it to
the State, and it was taken by George I'll.
Hazelhurst and s. K. johnson. Governor
Brown gives a full history of the various
transfers of the stock, saying that he had
disposed Of one share of his stock to W. NJ.
Wadley and E. P. Alexander. Mr.. c. 1.
Brown obtained his two shares from Mr..
Wadley and Mr.. B. F. Newcomer. New
conner at one time held "a shares, but has
transferred them all G. FL. Phinizy got
his hares from Mr.. Wadley, and he trans
ferred Is and Is shares to Leonard Phinizy.
j. B. Cummings and n. Il. Hutchins re-
ceived their shares from Newcomer.
In answer to a question as to whether
majority of the shares are held and con-
trolled by Georgians, Governor Brown said:
81 know nothing to the contrary" He tes-
titled that he had always endeavored to pre-
vent any discrimination in the management
of the road.
Mr.. N. L. Hutchins said he owned his
share in his own right. Last February there
was dividend, and he requested General
Alexander to have it placed to his credit on
the note for the purchase of the share.
General MacRae testified that there had
not been any discrimination by the Western
and Atlantic Railroad. The original lessees
still have control OF the road, and the per-
sons who have since acquired stock stand
in the light of holders of bonds Of the road.
They cannot even get passes over it. He
may have said that the road was owned by
the Georgia and Central, but did not re-
member when. There is a rumor to that
effect. He did not know from whom the
recent purchasers bought their stock, or
whether they really owned it. He supposes
that General Alexander now lives In Louis
vile. About the time of the completion of
the Cincinnati Southern, the Louisville and
Nashville claimed the right to direct the
policy of the State Road.
Their demand as to the schedule of the
regular trains was conceded to, and an extra
train was put on to connect with the Cincin-
natl Southern. The demand was conceded
to rather because the Louisville and Nash
vile had the power to iDjure the State Road
than because 1t controlled that road. There
were several demands made by the Louis
vile and Nashville. Mr.. Newcomb de-
manded that General McRae should be re-
moved from the road because he thought he
favored the Cincinnati Southern.
Governor Brown, on being recalled, gave
the committee the correspondence contain
ing the demands Of the Louisville and Nash
Vile on the management of the Western
and Atlantic Railroad.
General Alexander testified that the
shares sold to G. !. Brown, Phinizy, Cum
miDgs and Hutchins were, 80 far as he
knew, sold In good faith. He said that
Louisville is his home.
G. l. Brown testified that he owned two
shares in the lease in his own right. He
gave General Alexander his note for them,
and has paid on these notes some money
arising from dividends due on the shares.
Mr.. Wadley stated that he had disposed
of several shares to various parties, but
objected to naming the price paid. BE had
never tried to influence the management of
the State. Road.
G. H. PhinizY testified that he paid sea-
500 on the three shares held by him, and
for the Is share paid cash. He had claimed
right to participate IN the management Of
the road, but was refused on the ground
that he was not an original lessee. He had
instituted suit to secure his rights, but had
reluctantly dismissed It. He intends to
resume it some day. The shares pay the
stockholders about IS 900 year.