Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1888-06-01
report was received and filed.

L
/ 29s. .0U6.
The report was received and fled.
THE CONTEST.
As soon as this was done an amiabe con-
| lest between Messrs. Lauterbach and Rice
began, which lasted throughout the meeting.
/ These two men reprcsented the two ele-
ments present, the majority and the minori-
ty. aad were the Inain spOsesmen f0r the
/ opposing sides.
| Mr.. Rice said that one OF the objects OF
I the meeting was 10 examine into the condi-
iiou OF the ahllrs OF the company, aud he
1 prc.ented n series Of questions which had
| been prepared, and which he desired 10 he
read and answered. The questions had been
/ printed In pamphlet form and distributed
among the stockholders, and some weeks
ago a Synopsis OF them was tc,e-rahhtd the
| DSpd;ct from New J ork.
Mr. IautarLach moved that they be re-
/ ccyed aud flied. He said thlt the dire ctorS
had already been advised OF the questions
and had prepared a list ot answers, and he
would read them il the patience OF the meet
ing would permit.
Mr.. Rice rose Ia objection. lie moved 10
receive aud file the answers along with the
questions audtnst asui'ablc number OF copies
/ Of tae answers be printed Tor distribution
/ among the stockholders.
Mr.. Lauterbich said that the queries were
m The nature oi criticisms and should mol De
I treated irlyOlously.
Alr. Rice said be would protest agalnstany
action exccut to tie the answers.
Hs. joan r. Branch moved hat the q1es-
| tions and answers be read. Agreed to.
QUESTIONS AND ANSWERS.
| Mr.. Rice read the questions and Mr.. Lau-
tcrD1cb Inc answers. The reading consumed
/ about an hour
/ pr. Rice then moved that the answers be
/ printed aud sent out among the stockhold-
/ ers.
Mr.. LauteIbach objected TO this as a use
! less expense.
MIR. Rice then asked that copy be given
/ him with the understanding that he he al
! lowed 10 printit. Agreed to.
The following is the document Just as sub
mittcd to the meeting. The queries 10 which
| these answers were made I'LL pamphlet OF
I twenty pages, but il /, unnecessary to repro
| duce them in full here. a. the heading OF
each one prccede, the answer given. and.
/ generally speaking, the answer reveals with
! sufficient fulness for the public the nature OF
! the ntcTrogatOry.
/ ANswrRs or TIE BOARD OF DIRECTORS or TUE
! RICHMOND AND WEST POINT TERMINAL RAIL
WAY AND WAREHOUSE COMPANY TO THE
QUESTIONS or POINTS rs RESPECT TO WEIGH
/ THEY ARE INFORMALLY APPRIsKD THAT ~
FoRATION WILL BE DESIRED AT THE NEXT
GENERAL MEETING or The COMPANY. TO RE
held IN TBE CITY Of RICHMOND, or MAY
| 81. 1SSS.
First. The lIafier Of the Purchase Of
! Sirfl Ire Thousand Shares Of the Frst Pre-
/ f1rla Stoc2 ot the East Tennessee Rauroad
/ Company.
/ The purchase in question was made in the
month Of January, 1857, at time when
/ Messrs Thomas. scott, Brice, and at least
Que hall the present board, were not mem-
/ berS OF the Terminals Company's Board OF
! Directors. and when MessIs. Rice and
/ Lehman, az whose suggestion we believe
/ these questions are propOunded, were mem
/ bers OF the board (Nr. ~uly being lis preSi-
/ d,nO. and voted ior and approved Of the
| Transaction.
/ The present board might content Itself by
/ turning over this question and all the ques-
/ tons 10 those Who PROFOUND them to be an
| swcred, rs they are bett-r advised concern
! ing Their own motives than any one else
could possibly be. IL is but fair to state,
/ however, in justice 10 them, that every cir
/ cumsilnce connected with The purchase OF
he Tennessee stock was absolutely fair; that
the interests OF the Terminal Company were
thoroughly cared for, and that no stockholder
/ ~ tbe Terminal Company need regret
+ the purchase Or feel that tdat company has
suffered the slightest disadvantage thereby.
4 II those gentlemen were 10 answer their oSn
/ questions we believe the response would be
about a. follows:
/ l. The directors bought C5,000 shares Of
/ the first preferred stock Of the East Tennes-
I see Railroad Company because the owners
/ Of the majority OF the stock would not sell
/ bare majority unless the rest OF their hold
lucs were purchased at the same price.
! = A. to the purchase OF the Danville MI
noriiy stock. IL is conceded by the question:
! ers Niie their argument under question
/ eleventh. that the main object Of this Dur-
| chase was ~ give the Terminal Company, II
/ possible, tie absolute ownership OF
I toe eatle Danvillc properly, and thuS
/ enable the ITrmiusl Company, II It
4 should become necessary 50 TO do, 10 use
the assets OF the Dsnvile treasury. About
1900 shares On addition 10 the 2j,O0l shares
purchased az a greater price by commi. &c
Of six. Of which Messrs. Rice, Lehman, and
Suy were members were acquired at q
/ price which has not vet proved sufficiently
/ tempting 10 TIE holders Of The remaining
! 1891 shares, who refuse 10 mske the cx-
n \.
. out 10 them for nearly SIX moths as were
/ held out to those who did self the 1900
shares ut pucc wbich the condition OF the
Redmond aud Dauyile Railroad Company
[ iuly iustlGe'.
3. The report OF the committee appointed
/ by ex Presideut SullV to conclude The pur-
I ehass both Of toe DaDyille stock and that OF
the East Tennessee, Virginia and Geofgia
! stock was unanimously adopted.
I ard ). The iease OF the Washington. Ohio
aud Western rallfold was made 10 the Rich.
moud and DAnyille Company for 80 per cent
OF The gross earnings. which the latter CON-
pany guannteed should amount 10 per
cent. per annnm ou the then outstanding
bonds $1,000 900, the remaiulng bonds be-
mg turned into the treasury OF the Richmond
aud Danyille Company. The directors made
this lease 70 eoDtr0l the entrance 10 the
city oi WASHINGTON and prevent the
Inlrusion OF rival line. None oil tue
directors were interested 10 she securities
OF The Washington, Ohio and Western, but
subsequently, and TO avoid litigation With
the minority hosders Of these bonds were
81. "a. ~ ".