New-York tribune., 1891-01-29
RAILROAD INTERESTS.
WEST VIRGINIA CENTRAL,s AFFAIRS.

TIE REPORT SHOWS.

Baltimore. Jan. % (Spcclal-The minority stock
holders Of the West Virginia Central Railway Com
pany caused a sensation at the annual meeting at
Piedmont. W. Va, to-day, by making grave charges
against the man cement Alexander shaw, who makes
the charges holds $500 shares OF stock. Associated
with him in the minority fight Charles Marshall.
John X. shaw ". l.. Shaw, Irwin Cross and several
Others The minority submitted protest to the
annual report OF the president and directors In which
they charge that the new works OF construction
piling up the company's debt; that the company's
only valuable coal property Is being rapidly exhausted.
that the accounts between the company and the sub
sdiary enterprises I'm which ts officials Interested
full >tery. and that II the stockholders Of the
company do got begin to look after their property
they find they have no property TO look after.
The protest further says: seldom have such long.
persistent and open efforts been made by the officer,
OF company TO keep their stockholders in the dark
only when armed with order Of conrt has stock
holder been allowed the commonest rights. In spite Of
the fact that the only cont where the question has
been raised has twice decided that the mno ity was
entitled to a Representative the Board Of Directors.
the managers have twice deprived the minority Of this
right and by appeals taken for delay st evading
the scrutiny Of then acts for which the law has pro
vdcd,7
resolution offered by Mr. Fikins declaring that
the protest SandcrouS. malicious and hl-e In
every particular providing that II be tabled without
discussion was adopted. Another resolution offered
10y Nr tlElpS wa adopted approving an me ~ u 'h"
dong> If the president and ofhCcr- of the company,
authorizing the president 70 open and operate any
mine on f1e companys coal lands. empowering him Ia
sell the 1000 shares Of Tia common stock OF the com
pany now IN The treasury and all part ne',-
Sary Of the S:doOoOO II bonds stll remaining uli
issued for the extension Of the road. This amount
il - 100000 there being $500 600 now on The
market nv this resolution. also. the president Is to
receive a salarr OF $1,000 year
The total number Of shares OF stock represented AT
the meeting was j:3p33 sidcnt Davis held proxies
for the holdings Of James G.. Blaine. william Window.
Thomas r. Eayard and other. senator Goruah
brother. ". II. German. held his proxy. President
Davis and Vice President Eldns were r. elected ana
the following directors Henry 6. Davis. : T. Ehn,,
Thomas -. D->i-. John \. iIamhlcton, lame &.
Elaine W. H. Taylor and II. {. kcrn' The 'h1"
party sought TO place W. Irwin Cross on the board by
voting
The total net earnings Of the company for l-"o rom
mines and railroads T2C,.H-O - interest on
bonded debt due July |. l-OO. and January !. l-"l,
21li-ll 3G: balance after drducng all hNed charges,
41Oi. .O1J -. During the wear f2H1i1l - wa. cN
pended in rolling stock. The bonds of The company
sold la, wear all placed ~ premium. 100 ana
upward with interest added Total Issue of l0nd- 20
date -. 100000 The cOmpany'S lines have teen
extended and improved. and arrangements are beng
made for connection with iftsburg on the north ana
--c-r hesapcake and ohio road on the south