Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-10-25

CleCk, etc. his Wtlo .So4ioI uou ~
mean that some Of the gentlemen who
had subscribed were afraid that after
the subscriptions had been paid in and
expended the endOrsers of the notes
might step in and seize the available
property of the Company to recoup
themselves fer the 500 notes, thus
leaving the subscribers in the lurch.
This imputation hurt some Of the en-
dorsers on a sore spot, and the wounds
still smarted when last evenings meet
ing was convened.
And. bv the way, the meeting was not
at all what it was hoped it would be,
like 4 good deal else about the ferry.
mDelled bv the refusal Of subscribers
to pay, FIVE hundred circulars were
prepared. addressed to stockholders IN
the company. and were placed in the
D0stOfice about noon Yesterday. Ihese
circulars read as follows:
'yTheeling. w. Va, October p, 1885.
"Dear Sir: You are urgently request
ed 10 he present, either in person or by
rrovv at the meeting TO be held on
Thursday evening. October p, 1880, at
7.90 o'clock. in the vacant store room
adjoining Burts drug store, Penn street,
as e is Of vital importance TO the ferry
Company to have a full representation
of stock at that meeting.
by order Of the
"BOARD OF DIRECTORS"
These circulars were mailed at noon,
in the hope that they would be sent
ont i'm the afternoon delivery, yesterday,
but being second-class matter, they
were held over, and the stockholders
consequently did not get their invita-
tons. As q result the attendance at
the meeting was rather slim. Such OF
the circulars as had not been put IN
lock boxes at the p0stofice were re-
called by Secretary Watkins, and fresh
invitations will be sent out for a full
meeting Of the stockholders Tuesday
evening.
Mr.. n. c. Hamilton was called to the
chair last evening, in the absence Of
Mr.. Sommerville, and after the expla-
nation about the circulars had been
made. Captain Mccoy took the floor and
narrated the obstacle encountered by
the committee appointed 10 collect sub
scriptions About the time he had con-
eiuded BIr. McCully, one OF the com
mittee referred to, came in, and made
a verbal report to the same effect add
ing that there appeared TO be a general
/ misunderstanding about the situation.
Mr.. Moies said the notes, represent
| ing Sc. 600. would undoubtedly be taken
/ care OF by the endCrsers, and ne could
see no possible objection to subscribers
| paying up. In response to this, Mr..
Lash said the fear on the part Of sub
| scribers was that the endOTsers OF the
| notes might look TO the boat for their
| reccmpense, and the boat be tied up and
sold after the 81 400 of subscrip dons
! had been paid in. Mr. Mo.es said it
was perfectly understood that those on
Jhe 500 notes would care for them,
and tha. no such risk would be run.
/ Mr.. Lash rejoined that there was but
one honorable way out Of the trouble.
/ The stock of the Company was not
worth a cent as matters stood, for
| the debts amounted TO more than the
boat was worth. In his opinion the
stockholders ought to meet and volun-
/ t8r.ly throw their stock overheard, and
] If possible, make the endOrsers on the
notes preferred stockholders. In other
words, hand over all the assets of the
/ Company to the endorsers, and let them,
with the aid Of others, clear off the 9th
| er debt and keep the boat going
( Somebody suggested that the endors-
: ers had contributed most of the money
on the subscription papers, which
brought out the explanation from Capt.
/ Mccoy that there was about 81, 400 out
side of the sums put down by the en-
| dorsers. Proceeding, he said:
The idea of the Directors was that
the notes would be taken care Of and
| the boat 90 right along, if $4,000 addi-
tional was raised. Five hundred dol
/ lars of that $4,000 would be used for re-
/ pairs. 1t appears, however, that the
/ people of the Island think the men who
/ are upon the notes are not honorable,
and that they will sell the boat from
under the subscribers after they have
paid up. Ii appears to me that the dis
/ honor is on the other side. If the people
/ of the Island prefer to look at it in that
/ light l suppose we must make the best
Of it. What was the object of the Isl
and people in making this fight? Why
/ did they organize the Company and buy
! the boat? 1t was to fight the bridges.
| Now they are not unit on anything,
| except in getting something for moth
| ing. They are not fighting the bridges
now. but they are fighting the Direc-
tors of the Ferry Company, they are
frhting the stockholders and they are
fighting among themselves.
MIR. Z. T. Mccoy said: For one, I'm
ready to ties the boat up and let it rot
right where it is. 1 am sick Of the Whole
business. Let her rot
CAPTAIN McCoy-We want to get.the
sentiment of the Island people. they
can either pay up the subscriptions and
oct the boat out OF debt, or the Direc-
Tors will either advertise her for sale
or resign. One OF these two things
viii happen.
After some further talk about the
situation. the Secretary was instructed
to mail new circulars for general
/ meeting of stockholders, Tuesday eve
ming. and the meeting adjourned
After the adjournment there was
some sharp talk among two or three Oh
those present one gentleman accusing
another gentleman of doing more than
| auv one else to bring about the existing
state of affairs by your kicking. 10
This the other gentleman retorted: I've
Maid in twenty-five dollars and I've got
y ricbt TO talk. an willing to give up
nv stock. Let the rest do as well.
In this cheerful manner the gentle
| men present dispersed.
The ladies are to meet again this
evening.