Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1888-04-15

The SiocLhOlders' Committees An
swer-They Believe an Emer-
EencY Haa Arisen.
Especial telegram to the Dlspalch.


NEW YORK, April 14-Messrs. Libbey. Clark,
aud Rice have issued 4 circular addressed 10 tho
stockholders Of the Richmond and Nest Point
Terminal Company, IN which they reply 70 me
recent circular issued by The Committee OF TX
PLANTATION. They deny the insinuati0n that thoy
arc not stockholders, saying that each are large
owners. In rsgard 20 the purchase on Easi ! en-
p0-see preferred stock az expenditure OF
s6.aOO00. by which, 10 Is claimed, majority OF
stock vas secured, the circular says that while
this Is true tho East Tennessee retains control
by a clause in the collateral deed. which only
allows the Terminal 20 elect minority ef mem
ters of tue Fast tennessee Board. As 70 the
GEORGIA Company. it is admitted that como gen
tleman connected with tho present movement
g. interested 10 tho Georgia Company, ont inc
sfO Eholders are rs1nindcd That TO-DAY me Ter
mtnaL controlled by tho Fast Iennssnce, IL a
much moro dangerous rival Than the georgia.
sellers Of East Tennessee STOCK get the money,
ptcentrol Of the East Tennessee aRd acquired
control OF fbe Terminal In addition. The inain-
usticn that Tho parties In control OF the Georgia
Company are dc..rOus Oi selling STOCK 10 me
Terminal Company WAS raiiaed ny the stAle-
mert tEst SEINE Terminal directors maze al
yances % purchase Georgia stock, when were
rejected. A. 20 The attempt ~ the present board
{, cscape tho responsibility Of those acts by
claiming hoy are q new board ana only came
irto control December 3lst last, tho circular
COMPARES the make up Of Inc present aud for
mer boards ard ERd that tairtesR members OF
the Ol& board are also @eHbers OF the now.
"(ould there be anything cOmicAL" says inc
{.
Aiessrs. scott. Thomas, Brire, stone, and Lau-
fsrUarh " the NrW board. tWftipg Msssrs.
scott Thomls. brics, sions, and LautsIbach,
Of The Ola board, for spending s5JVD
Wa Wa necessary. AMI Messrs. scott Thomas,
Brics. stone, and LauterbSch, OF the new board,
slyly limiting that Messrs Scott, Thomas, Br.ce,
StoHe and Lauicfbach, II tie 0id board, were
n0l wise 20 cIpcnd so large an amount en- the
various properties Of the system as 10 involve the
Nieir,luI aud uunvie railroad IN hoRung
deb. OF $500 200. ard 10 declare In all seriousness
that Mes-r-. scott, Brlce. Thomas, stone, ana
IGut-rbach. 81 tne new hoard. cannot De expect
od 10 provide for the dividend declared oy
Nessrs scott, Thomas Brice, Stone, ana Lauter-
bach, % he old board"
summing M tho dazzling display Of figures
presented upon the purchase OF the DanyiHs
SOCK, waoa nothing was heard OF uoatlng
deLt Rod tire statement was made that inc
Terminal was in a magnificent cOaditlen, the
circular claims thst rs soon the sleek was ac-
CURED il was found that tho road was in any
hing bufH -atsfg tory shape. and among oihef
things if N0 tois OK steel rails had becn puF-
CHASED and ia sixteen months since the plIcnise
could only pay pHtry dividend o. per cent.
Ina Wow Of this feet ms stockholders are re-
minded Of the probability tsat the earnings
Of - 3-i0 rer cent on STOCK nell GUY
by the circular may not DC avsuAbIe
unic. the 80. kh0ldcr- take charge OF me pro-
party OF tho wal point OF passing dlVden's
the stockholders are reminded that TIC Terminal
Company has no income % lie own. me pflh'l-
IA resources being $500 shares OF DdnYille ana
g. 200 OF East Tennessee. aud II no income IS 40
r.yod from these properties It must mean
n0auns debt, and eventually default on lss
own OBLIGATIONS. Passing Dauyills aud tass
Tennessee dividends, therefore, Is great con-
Germ % the Terminal. sad when tho Terminal
Board declared = dividend last December,
a. the game m9-iing instructed the DanViHs
Board n declare a dividend. both boards oe!Hg
practically tie sane people, the IeTmlRal
Csmpany thus provided Tor it, own dividend.
H-oluently tho TERMINAL E0ard Iescinaed rae
lr-fruct. Ga 10 tLs DGnvilIc Board, vel kEo6ing
thcritlertthem no rea4y means 70 pay tho div-
dond declared. This made 10 necessary for me
president 10 horrOF. Tho Same eEiculty &C
cured WheB tho Fast Tennesses Board refused
70 declare dividend. thus falling 70 provide tho
rnopev for interest on colia'eral-trust bonds. In
concluding tho circular states mat 81 extra
Ordinary emergency makes the agitation Tor a
change Of management necessary 10 prevent
manifest Wrone doing.