Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-07-07
lBE GORDON Land COMPANY.
REPLY TO THE COMMUNICATION OF
THE BOARD OF DIRECTORS.
The Stockholders Committee Ley Their
Report Before the Public for
Its Judgment.
To the Stockholders in the Gordon Land Conn

To the Stockholders in the Gordon Land Com
pany;
In SATURDAYS D1spArcH an article ap..
peared headed an "Official utterance, .
emanating from the Board OF Directors OF
the Gordon Land Company.
In this article the directors undertake 70
criticise the work of a committee sent TO
Gordonsville By the Richmond stocknoiu-
ers for the purpose of investigating the az
fairs of that company This criticism s. seems =,
out of place when it is remembered tnat IN
the first part of their "official utterance
thew distinctly state that they have not
been able to get hold of" the report.
But tor the benefit of stockholders not
present at the meeting in Richmond, we
will say that this committee was appointed
by the Chairman of that meeting, who 10
large investor in and friend OF the COM
pany. The committee notified Mr.. NJ W.
bowe, the supposed president, OF tneir
coming. visited Gordonsville, went ove5
the main or business part of the proposed
city, spent about five hours IN examining
the condition of the company. returned 10
Richmond, and made statement OF facts
without expressing an opinion. These tdcts
rere furnished by the directors Of ne company
and If qiring them publicity hurts. these promo
ttrs can blame no one but themselves. We give
the report in full-namely
"To the Stockholders of 0.e Gordon Land Com
pGnv:
"The undersigned committee appointed
by your body on Monday last with instruc-
tions to investigate and report the condi-
ton of the Gordon Land Company submits
the following report:
lon Wednesday the 18th instant We
visited Gordonsville and were received 10y
the local officers of the company, and after
examining the property the officers ex-
pressed willingness to give us any IN
formation within their knowledge and to
assist us in any way in arriving at all the
facts connected with the organization ana
man agement of the company.
"Your committee thereupon proceeded
to OBTAIN from these several officers the
facts now set out in this report-namely
THE company was organized on the
18th day Of September, 1890. under q char
ter fixing the minimum capital at S50,000
and maximum at S750.000, with the follow
ing officers N. W. Bowe. president; ".
J.. Fleming. first vice-president W. l..
Walters. Jr.. second vice-president; II. l..
Hoover, manager; Il. II. Stratton. trea-
Braxton, attorney; J. A. Cooke, GeorgeC.
Walters, p T.. Barbour. J. B. Bland, Z. Q.
Thompson. and William II. fager.
These gentlemen subscribing for one
share each of stock upon which they paid
S5 per share. or 65 tor the thirteen parties.
After this subscription was made these
stockholders entered into o contract with
one G. Is. Linney, one of the above parties,
agreeing to buy from said Linnev Uinney
styling himself az trustee. the officers
stating that he was trustee for the above
gentiemen). certain land to the amount of
500, ,9li.lO, of which sum Sl66,9l4
was said TO have been the costs
of the land, and the 1890 the amount
10 balance. was the amount to be divided
among the thirteen promoters. or. in other
words, the promoters were to have $4,000
apiece, the same to be paid in stocks or
bonds of the company as they might elect;
receive in stock the amount of stock set
onnosite their respective names, to wit: