The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1883-09-13
A STRANGER IL THEIR MIDST.

-.
A stranger rose and said that he begged to
offer resolution. The whisper went
round. "Who Ia he? What's his name ?"
Nobody seemed to know. The stranger
Immediately began to read his paper. 1t
proposed the appointment Of Il committee
OF seven, 10 be composed Of stockholders
none Of whose stock is pledged to any pool
OF stock speculation. to inquire
!. The amount OF the actual earnings Of
this company and Of each company con-
troled by it during each month from Janu-
airy !, 1880, to the present time.
2. The amount and nature Qn detaiD OF
all expenses and charges OF every nature
OF this company and OF each company con-
trolled by it during each month within the
same period.
g. From what sources have the divi-
dends which have been paid upon the
stock OF this company within the same pc
riod been obtained, and to what extent
have such dividends been paid from the
actual net earnings Of the company.
A. Whether upon the book CT this COM
pany, or OF anv company under its con-
troll, disbursements properly chargeable to
the expense account have been charged to
construction accounts, and il so, in what
each item; also whether the system OF
keeping the books OF this company Is such
rs TO show the true condition Of its affairs,
&C., &c.
q ,. Whether the franchises OF the COM
pany or any OF its securities have been used
or diverted from the interests Of the COM
pany to the benefit or interest OF other per-
sons.
{ 6. What speculatiOns have been entered
! irto for the account OF the company, or
with its property, or securities, or credit,
and the results and figures OF each such
speculation.
: This is the substance Of the long paper.
: In another section il was provided
that the directors should afford the CON-
mittee access TO books and papers, and that
I they may report at the expense Of the COM
pany, and the company shall pay the eX-
penses Of the investigation; and the COM
mittee shall send a copy Of the report to
every stOckholder.
WHO ARE YOU?
! Before the stranger had gotten half way
through Mr.. Scott rose rather eXcitedly and
protested against further reading. as the
paper went far beyond the range OF the COM
pany's powers and duties in one direction
and was restrictive in the other. The
/ stranger calmly waited to hear Mr. Scott
| through. After that the Chair said, "May
/ ask whom YOU repreSent?" The stranger
answered. " am stOckholder Of record;
James 5. Bearns is my name"
/ Mr. Foster said that he looked upon the
resolution as entirely proper, and las TO
pledged stock1 'it is the law, Mr.. Scott, in
the State you and | come from. He only
wants to bring the New York law down TO
, Virginia"
Mr.. Bearns having been pormitted TO
real his resolution through, Colonel Bu-
ford calmly pointed out the objections to
! the resolution.
The Chair Colonel McAnerney): al
shall decide that the resolution is not in or
der; il is business not pertinent TO meet
I ing OF the stockholders Of the Danvillc Com
pany; and it proposes to investigate COM
panies and matters over which we have
no control"
/ AN APPEAL.
| Mr.. Foster appealed from the decision of
the Char, and expressed Il willingness, as
3 Colonel Buford OF some one had suggested,
| 10 have the resolution referred TO the
/ Board OF Directors. lie declared that
stockholders in New York wished to know
what the real value OF this property is.
Mr.. Clyde hoped the Chair would re-
view his ruling and allow the resolution TO
/ go TO the Board, and that was done, every
body so agreeing.
! NEW BOARD.
The following is the complete Board :
Colonel H. ;. Buiord president and di-
rector, c. :. Brice (yice-president and di-
rector, w. p. Clyde, George :. Scott,
George +. Baker, George /. Seney, +. {.
Fahenstock, General Samuel Thomas, Col
onel John McAneney- all now OF New
York, except Colonel Buford. Mr.. CLYDE
and Colonel Buford were on the old Board.
Colonel McAuerney was heretofore inte-
rested in the company, but not as d.
rector.
40 PROPHET.
After the meeting was over Mr.. Forster
was asked bya newspaper reporter whether
the question about the Wal-Street Operi-
tions were to bc carried into the courts.
Iii, reply was a laugh and II am not a
prophet
wEST-POINT TERMINAL.
A meeting OF the West-POlnt-Terminal
pcopc was held after the adjournment Of
the Danvile Company. II was private. and
the secretary said that there was nothing
for publication: but it was understood
outside that the Board OF Directors had
been, or would be, put i'm full accord with
the new ownership OF the Danyille Conn
paRy.