The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1886-03-16
Tie Railroad Meeting.

was present at the meeting OF the
stockholders OF the B Z and C. R'y.,
held in the Court House on the "a ult.
While am not stockholder and have
no direct financial interest in the qnes'i ion
Of assessment or no assessment TO pa,
the detts of the company, yet l feel
such an interest 10 the presert and 70
ture welfare OF the road ana the man.
ayers thereof. as we'll as an ardent desire
that the stockholders shall estape on as
easy terms ss possible, that ! observed
closely the proceedings of the meeting
aud recollect in detail most OF the state.
ments 10 regard to the nnarcial condi.
tion OF Tie Fad which I will here fur.
uish for the benefit OF those st,ckhold
ers who we're not present at the ma, ng
II was ssid that the f,;tng debt l.
about S4s, 600; due directors Tor none,
advanced by them, $3l 900; unsecured
debt due syndicate, $4,000; esiims ted
costs and expenses # assessment, 8l0,-
600; total amount tor which assess melt
will be made il suit goes on, $92. coo.
1t is estimated th,t there are abou,
thirty one hundred shares OF $50 esch
of solvent stock liable to be assessed, OF
which the syndicate owns about eleven
hundred shares. Leaving about two thou
sand shares o: individual st ,ck The
svndica'e which is composed OF s L
Mooney, w. T. Morris, DR. T. H. Arm.
strong, Christian Weber, Henry Miller,
A H Caldwell aid Thomas. Welsh CT
ot whom are directors of The road, ami
,re interested as such in the S3l 0O0 an6
$4,000 debts agree {, release the st OK.
holders from oil listi.lts on these dehis
and run the risk Of collecting them from
the railroad company. II the slnckhold.
ers will pay the sum OF ten dollars pei
share on their stock,
At frat sight II ID Difficult to zee how
the syndicate can aff ,rd to do this. and
must confess that cannot at this time
see il quite clear, yet it is immst rial ia
the stockholders If they get rid Of thei
stock nv assignment, AMI obtain The
bond of indemnity, and thus escspe oil
liability Of being assessed or made liable
for anv fntnre Indebtedness whether th.
syudicst. makes or loses Money BY tie
operation.
The assessment Of $l0 per share on
the solvent stock, according to the esii-
mate will realizs 83l 00U, and it is be.
lieved ut the Al 600 debt can he com
promised and settled for that sum
Whether the debt can be thus adjusted
and settled is matter OF great impor'-
snce t. the syndicate, but as before sta
It'd is entirely hnimportsnt I'd shch stock
holders as ihay have assigned their stock
and accepted the bond Of the syndicate
As | understand the proposition. they
will acceIt all stock that may he trans.
fered and assigned to it before the 6rsi
OF April next, together with tue pay
ment by the stockholders of ten dollars
per share for each share OF stock go
transferred and assigded by bim, add In
case be has not the ready money st the
time, q banksble note will be taken in
payment, due any time before the 25ta
OF April next.
1t will be- readily seen that u the suii
against the stockholders goes on, and
the liens against the compsuv are Gil
bought in, to the amount of Sgs 600, 1t
will require an assessment OF about thir.
~ dollars per share to the solvent stock.
holders, Ia place OF the ten dollars as
now proposed.
| was much pleased I'd see q disposi.
lion manifested by many Of the stock
holders to accept the situation and look
the matter sduarely in the face, and &C
cept what is Internationally the best
thing they can do, BY paying ten dollars
per share and assigning their stock and
taking the bond OF indemnity against
future liability. However. il any stock.
holder wishes to hold on to bis stock be
can pay ten dollars per share and hold
it, and run bis own risk in the future.
SPECTATOR.