Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1882-09-01


its effect on the railroads, and said how easily they
might combine, if they choose and take the State
from us adding that 5000 600 would carry Virginia
either way and if he of the railroad men he
would urge them to subscribe it and win.
ATLANTIC, MISSISSIPPI AND OHIO RAILROAD
have time taste to trace up and expose
the whole tortuous and obscure course of General
Malone in this matter or by this light. But some
things are worth noting and bordering. Very soon
after the election last fall the Richmond WHO an
nounced that the Readuster party had debts to pay
to all the railroads of the State and that they
to discharge them. But at the time this threat was
addressed to all the railroads there sort of
an arrangement with one of them which would argue
that with that one at least there could have been
menace, nor thought of any. That the Norfolk
and Western Railroad Company successor to the
Atlantic, Mississippi and Ohio Railroad Company,
whose affairs Mr.. Colley charged had been grossly
and criminally mismanaged by General Malone
According to the first annual report of General
Malone to the Atlantic, Mississippi and Ohio Rail
road Company in May, 1872, he had arranged with
the State to exchange her debt against the company
amounting to Sc 81, 1870 IS, including ST. 844 693 49,
secured mortgage debt for second mortgage of only
$4 10000 Nine years afterwards w.t. the latter
part of last sulnmer-when he was engaged in nego-
hating the sale of this road to the Syndicate that
Immediately afterwards bought it, he waited on
Messrs. Massey and Reynolds two of the Board of
Public Works, and persuaded them that it was a
patriotic duty to ratfy the sale in consideration of
the sum of $500 900 to be paid the State it being
fortunate" thing he truly represented, to get
that much, it being one eighth part of the 81 600.
OOO second mortgage Later these gentlemen were
upon authority which at liberty to surrender to
proper application-that General Malone had been
much more fortunate" in
NEGOTIATING FOR HIMSELF
than for the State For the reorganization of the road
under the of the Norfolk and Western Railroad
Company embraced 150 600 shares of preferred stock
equal to 15 000 600 distributed among the
at $35 per share. General Malone subscribed for
5000 shares at 1886 per SHARE equal to S175 900 on
which he paid not cent it being scarried' for him
by the syndicate until it in the market to 4S so
per share, when they took the whole block off his
hands at an advance of $67 500 paid in cash. Besides
this he obtained 900 from the same COMPANY
upon claim for services rendered when he was mat
president OF their predecessor, the Atlantic Mssis-
slppI and Ohio Company-under decree in which
Judge Hughes said he only gave it because the Nor
folk and Western Railroad Company wished it to be
done; thereby clearly intmating that there was no
legal claim to it. With this gratuity of 1897 500.
about to be put into his pocket by these generous
friends it would seem to have been ungracious to
mediate the discharge of this debt by anything but
favors That however, it would appear is not
always his style of settlements for in no great while
after these transactions closed it was said that
the Norfolk and Western Railr Dad Company refused
to remove Mr. Fink the vice president of the com
pany, and another of their trusted officers both of
whom he had prescribed, and shortly thereafter a
substitute was introduced for House Bill No 1911
10 Rssu1ats freig.t and Passenger Tariffs
But whilst recusants RENTED to this bed of
justice, the more compliant found favor at the hands
OF this new master of transportation !" favor some
times IN inverse ratio to their former offences Thus
THE RICHMOND AND DANv1LLE RAILROAD COMPANY
had been active against the Readiusters: and it's
president was among the most Jealous members of
the Funder Executive Committee; going through the
city in person as once him doing, for the pur
pose OF raising election funds. And hence when re-
conclllauoh was talked OF with that company, was
not surprised to hear the rumor that his head had
been demanded as the price of his misconduct, and
as one of the conditions of peace But soon an ALI
ance was formed with this president as one of the
contracting parties, of which, though the air was
filed with rumors of its terms, only this much
though that ought to be enough is or may be- known
to the public: gentleman known to be one of