The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-09-19


Acted as Peacemaker and the Meet.
ing Broke up After a stormy Session.
Special to the News and Observer.
GREENSBORO, N. c., Sept Is
That was Almighty interesting railroad
meeting held here to-day and the result
of it illustrates how near you can come
to doing a thing without doing it.
The meeting had been called for q
double purpose, One was to ratify the
lease recently made to the Southern, the
other was to have the charter tax OK
emption surrendered
The first was necessary because both
sides were shaking in their boots for
fear that somebody would get out an
injunction, and when it was hinted Mon
day night that such a move was on foot
it almost created panic The private
stockholders shivered visably, the direc-
tors held hurried conferences and even
Col Andrews seemed i'll at ease.
The question of surrender was also a
very troublesome one and more than
once it looked as though there would be
no meeting.
The ultimatum was submitted by the
private stockholders in a conference
early in the day, and that was that if
the State proxy did not promise to say
nothing about charter exemption they
would not 90 into the meeting. Mr.. Err
win, representing the Plant interest,
wanted peace and harmony, but he
wanted the State to furnish both. Judge
Barnes, of Georgia, preferred char
! Col. Cameron wanted both charter eX-
emption and harmony. Col. Andrews
wanted peace, harmony and ratification,
| especially the latter, and he wanted the
| two former because he thought they
| would insure the latter. Judge BurWen,
of Charlotte, was ready to ratify and
! surrender, but he was a mighty lone
| some private stockholder on the ques-
tion Of Surrender. Gen Hoke wanted
! the lease ratified, but on the
| principle of a fighting commander,
| who believes if you don't run the other
! fellow will, he stood to his guns she'll
! ing with grape and canister any propo-
sition to surrender. Col. T. F. David
| son, who fought tax exemption all tie
| time he was Attorney General, was just
| itching to get whack at that section of
| the North Carolina Railroad charter and
was ready to strangle that famous by
| law, which gives the minority the right
to break quorum, and consign both that
and the charter exemption clause to
everlasting oblivion.
An agreement was finally reached in
the preliminary meeting, the terms of
which were that they should pass resO-
luton instructing the president of the
road to list the property for taxation
whenever the dividends or profits ex-
ceeded per cent, which was mere re-
iteration Of the charter.
Just as the joint meeting was about to
be held however, it is understood that
telegram came from the Governor saying
that he desired a specific resolution sur
rendering the charter exemption. This
threw some CONSERVATION into the camp
and the private stockholders, proxies
and all began a stampede for the open
air.
The situation looked serious and had
not Col. Andrews been on the scene it is
likely that then and there the meeting
would have ended, but it didn't, and
after another hours conference
and consultation the resolution,
which reads like the silver plank of the
last National Democratic platform, was
agreed upon; the meeting was held and
as the clock struck FIVE the resolution
was passed.
~ Of n DNawah mn thn hill
and down again business. The State di-
rectors and the State proxy marched up,
then came the private stockholders with
their attorneys. They tore up the earth,
wrangled and quarreled for long while,
finally Col. Andrews marched up, and in
a little while they all marched down to-
gether.
Peace and harmony; surrender, no
surrender, and ratification were all
blended most beautifully. President
Alexander, Mr.. Maxwell, Mr.. Manning
aud others knew that the charter ex-
emption had been surrendered because
the president had been instructed
to list the road for taxation,
and because the word "when-
ever had been changed to "when."
Mr. Erwin, Judge Barnes, Gen Hoke,
Col Morehead, Mr. Cameron and others,
while they had given up "eyer' with
some reluctance, knew that the charter
exemption had not been surrendered,
because the resolution specified June
1st after January 1st, 1896, when diyi-
dendS or profits exceeded per cent, not
till then and never after then except upon
like conditions. 1t was merely instruct
mo the President tO carry ont tbp farms
of the lease and see to it that the South
ern railroad paid the taxes as provided
for in the lease That's the railroad
story up to date, both sides and the
middle, you pay your fare and take