The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1892-01-21
GONE TO RICHMOND.

GONE TO RICHMOND.
Roanoke Moving Against the Railroad
Commission Bill.
At mass meeting held at the Com
mercial Association rooms on Monday
evening to protest against the pas
sage of the railroad commission
bill the following gentlemen were
appointed committee for the purpose
of deyising proper methods for bringing
before the committee of the house the
feelings of this community on the SUBJ
ject of the railroad commission bill,
with power to add to their number:
Messrs. II. S. Trout, j. Allen Watts,
Col. Thomas L. wis, j. Il. Engleby,
James S. Simmons and e. c. Pechin.
The committee held meeting on
Tuesday morning and very thoroughly
discussed the matter. 1t was decided
to prepare memorial to the legisla-
ture, to be signed by the leading bank
ing and industrial companies of
Roanoke.
The text of the memorial as printed
below gives the sense of the meeting:
THE undersigned, representing the
banks and industrial companies in the
State of Virginia, respectfully show to
the legislature that they have the
amount of capital set opposite their
respective names invested in Virginia;
that 1T is their effort to get further capt.
tai and to enlarge the field of their use
fulness; that the sources from which
this capital is derived exists, almost
without exception, outside of the limits
of the State of Virginia.; that their in
vesngations and efforts to get additional
capital have made it apparent that. il
any railroad bill restricting or controll-
ing the operations of the railroads DO
passed, foreign capital will be cautious
about making any further investments
in this State: that already they have
felt tho bad influence of this railroad
bill in the reluctance of investors to put
money in their hands for investment.
In the case, for instance, of the Roanoke
and Southern railroad, which was built
almost entirely by the capital of per-
sons living in Virginia and North Caro-
lima, with the expectation of reimburs-
ing themselves in the end by selling
their bonds. it has been found that no
one will buy their bonds during the PEN
dency of this bill.
ut is argued by capitalists outside
the State that all of the numerous de-
velopments which are taking place to-
day in the State of Virginia are due
directly and primarily to railroad com
panies, and that If their operations are
restricted, industries and investments
will languish and become Improbable.
AS capitalists wish to put their money
only where they will have fair return,
they are unwilling to take the risk of
adverse legislation.
'"They therefore respectfully petition
your honorable body that no bill restrict
ing or controlling the operations of the
railroads be passed. They respectfully
urge that any sue. bill would be dele
terious to the interests of the State, and
bill even less Objectionable than the
one known as the Kent bill would,
from the suspicion and caution of out
side capital. have almost as bad an in
fluence as the original bill.
They hope that the legislature will
appreciate the effort of the undersigned
to develop the resources of this State,
increase It's taxable values and give en-
ployment to its citizens, and that moth
ing will be done that will permanently
injure them"
Colonel Thomas LOWS started out
yesterday morning and soon had tho
signature Of every banking institution
and land company in the city to the
petition.
Messrs. Lewis, Pechin, Trout and
Stewart representing the Commercial
Association. and Messrs. Buckner and
Engleby, of the Council, who took with
them the resolutions adopted by that
body at the meeting Tuesday night,
left on the afternoon train for Rich
mond, where they have an engagement
to meet the railroad committee of the
house to-day. Mr.. Engleby will leave
Richmond for New York tonight and
will return to Roanoke Monday.