Mower County transcript. [volume] (Lansing, Minn.) 1868-1915, 1885-04-15
MINORITY REPORT or THE LEaIsI.A-
TIVE COMMITTEES INvESTIGATING
z THE ST. CLOUD RAILROADs SALE.

MINORITY REpORT OF THE LEGf9LA.
TIVE COMMITTEES INVESTIGATING
z THE ST. CLOUD RAILROAD SALE.
Messrs. p. A. Foster, and A. Har aid
son of the committee appointed to in-
vestigate the matter of the st. Cloud,
Mankato & Austin Railroad Company,
report as follows:
This committee was appointed at
late date in the session, and at first con-
sisted of five members. The committee
made arrangements to take the testimony
of several of the old directors of the COM
pany on the evening of the Goth of Feb
ruary As the House adjourned on that
day, motion was made to add two more
members to the committee. but was not
acted upon before the House adjourned.
At the meeting on that evening aquorum
of the committee being present, Nessrs.
Campbell and Baker appeared before the
committee and asked as favor that two
more members be added to the committee,
which was unanimously agreed to. SAID
parties then objected to further proceed
man of the committee introduced the re-
solution for two more members on the
next day, which resolution was adopted,
and Messrs. Sadley and Cornish were
thereupon added to the committee.
After the addition to the committee the
chairman made repeated calls for com
mittee meetings, but quorum has been
present at only two meetings since, to.
wit on March I'd, 1885. On March I'd
Messrs. Baker and Campbell came be-
fore the committee and presented the
written statement which appears in the
majority report, and it appeared by said
statement and by further testimony that
on the consolidation of said railroad with
the said Minnesota & Midland company
200 to 800 shares of stock were issued to
parties holding the stock in the last men
toned road, which stock was soon there
after assigned to several of the directors
of the St. Cloud, Mankato & Austin COM
pany: What they paid for this stock
does not appear. For the purpose of
raising money for making the survey of
the route and for other matters, stock tit
does not appear how much) was issued to
citizens along the line of the road, who
were interested in having it built. These
parties paid 10 per cent. on the stock re.
ceived by them and the same was subse
quently procured by several OF the
directors to be assigned to them person
ally, and these then acquired and held as
their own personal property all or
nearly all of the stock of the same
company. Subsequently they sold this
stock to the Railroad Improvement COM
pany of North America, corporation Of
and resident in the state of New York.
The directors were asked by the chairman
of your committee how much they re-
ceived in consideration of the sale of this
stock, but objected to answering the
question, which objection was sustained
| ny the following vote. viz: Cornish, Du-
rant, Lee and Sadley to sustain the OBJ
lection and Foster and Haraldson to
override the Objectionable Meyers not
there was any written contract of trans
fer, or rather written agreement between
said construction company and any of
the directors of the company; and an
| swered that he did not know. The same
question was asked of Mr.. Campbell and
he refused to answer, which refusal was
sustained by the same vote. The COM
mittee then directed the chairman to draw
up report and adjourned to meet at the
call of the chairman. The committee
was next called for March 9th, at 8 a. m >,
but quorum was not present until II
a. m. The committee then decided by q
vote of to not to take any more testi'
mony in the case. 1t appears that there
was issued 700 shares of stock of which
all but nine shares appeared on the books
Of the company on January l, 1883, as
held by said construction company. The
undersigned report that from the sigh,
evidence adduced they are unable to re-
port as to the probability of the road be-
ing built, or why the same has not been
built. No witnesses have been before the
committee except the directors Of the
company, Messrs. Campbell and Baker.
and however high the character. standing
and reputation OF the parties, the u 'des-
signed do not feel warranted in rendering
decision on ex parte evidence; and no
other has been taken. We therefore re-
port. that we are unable to report frohl
the evidence adduced, who is the real
owner of the stock. nor why the road has
not been built nor whether it will be built.
! p. A. FOSTER. chairman,
| A. HARALDsON.
| Mornh Rth 1919