Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1892-10-27
NOT DECIDED BY LOT.
RICHMOND, VA, October 90 lsvI.
- n rafa..1f.I
Special Advisory Board, Department
MEETING OF THE TERMINAL.
The Investigating Committee Not Ready
to Report-Mr. Bsnton's Views.

An adjourned meeting OF the stockholders OF
the Richmond and West Point Terminal Rail
way and Warehouse Company was held at the
Exchange Hotel yesterday at noon. The session
was a very brief one, hardly lasting I'VE MIN
utes and only four persons we're pfose era attor,
ney, representing 400, 1000 shares: John A.
Rutherfurd, vce-president; Samuel IA. Benton.
OF New York, representing 100000 shares, ana
Mr.. Charles VI. Crump, OF this city. In the aD-
sence OF Mr.. Clyde, tao president, Mr.. Ruther-
furd. the vice-presdent, was elected temporary
chairman. In taking the chair Mr.. Rutheriurd
read the following:
.'.rhe chairman is instructed by the directors
90 state that one OF tho first acts OF the present
board was TO appoint an investigating commit,
too 10 carry out the stockholders resolution OF
September 10th. Its members are hessrs. -
Adolphus Lowe, j. A. Hutchinson. and AleNnn-
der +. Van Nest, neither OF whom have had any
previous connection with the companys man.
agement
"A special committee on reorganization was
also appointed. Both such committees have
been diligently engaged and have already &C
cOmplishcd much work. Their lahors, however.
involve careful examinations OF so many con-
tracts leases, mortgages, and trahic statistics
that they are not yet prepared to submit any
final report.
"As soon as the reorgauizing committee can
conclude its examination and give the conslde-
ration necessary TO equitably adjust the large
and complicated interests ia the property em-
braced IN the system the plan concluded on VIII
be promptly presenter 10 lne slochuOiicio.
CHANGED THE DATE
Mr. Crawford offered resolution changing
the time for the annual meeting OF the Terminal
stockholders rom the second Tuesday in Deem
Der 10 the Thursday after the first Monday IN
September. This was adopted. Mr.. crawford
voting 4O2, 900 shares in favor OF and Mr.. Ben
ton casting his vote Of 100, 900 shares against ~
The meeting then adjourned until December
18th, when II is expected that the investigating
committee will submit its report.
TALK ABOUT TERMINAL AFFAIRS.
Mr.. Samuel II. Benton, who attended the meet
ing a. the representative OF the interest OF the
Calhouns and others, Is evidently not much OF
Clyde man. He Is OF the opinion that the pres
ent president Of the Terminal Is only deslrous
OF operating IL 20 the best interest OF his steam
chip lines. Mr. Benton was called upon nj the
Exchange Hotel by DISPATCH reporter yester.
day afternoon, md quite lengthy chat was had
with this gentleman atout railroad matters.
Mr.. Benton is a stock broker at No. A. Broad
street, New York, and knows great deal about
the financial world. Ilo realizes Mr.. clyde
power In the Terminal controversy and says that
the smaller factions have TO submit TO II De-
cause they can't help 1t.
THINKS THEM OLD sTORIEs
In speaking about publications in the news
papers that some interesting discoveries had
been made by the investigating committee, and
thst criminal proceedings would probably be in-
stituted against well-known parties hitherto
identified with the management Mr.. Benton
stated that he thought these were simply areyl-
val OF the old charges against inc talhOuh. ~
will be remembered that Mr.. Patrick Calhoun,
at the September meeting OF the stockholders,
offered a resolution asking Tor the appointment
Of an investigating committee 10 consist Of mem-
bers OF the orr iCalhoun) faction and the Clyde
element, who should have access TO the compa-
ny's books and papers. This was defeated, and
a resolution was adopted instructing the Board
OF Directors to make these examinations. Mr..
Benton thinks that the books will not be opened
for the inspection Of any one.
WOULD HELP THE SOUTH.
He IL Of the opinion that the financial condi-
ton OF affairs in the South is largely due TO the
chaotic state in which this railroad corporation
has been for the past year or 80. He hopes that
the reorganization plan will be completed and
submitted at the meeting 20 be held December
18Th aud believes that II II shall be a success
full effort not only the company, but the entire
South will be benefited.