The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1895-08-17

Whole Day in Considering This
Shameful Deal but The Private Cars
ON the Side Track Finally Win.
special to the News and Observer.
BURLINGTON, n. c., Aug. Is.
At six and half per cent for sixyeaTs
from January 1st, and at seven per cent
for ninety-three years, that's the decree
of the Board of Directors of the North
Carolina Railroad and on these terms has
the States greatest railroad been leased
to the Southern Railway Company. The
edict went forth at eight o'clock to night
after a session of ten hours.
Burlington had to day two heavy
showers, ona Of rain and one Of railroad
men. The rain came in torrents, the
railroad men in private cars. The ram
tried its best to dampen the ardor of the
railroad leasers, but it could not do 1t;
it pelted away on the roofs CT the private
cars and the office in which the directors
met. but neither the storm outside nor
the storms inside could keep them apart
but eight hours. In the meantime Pres
ident Spencer and Vice-President An
drews, with two private cars full OF law
yers, stenographers, clerks and porters
formed very exclusive side track pri
yate car colony. Across The way, IN
Secretary Ruffin's office, was gathered
together Messrs. Alexander, Overman,
Turner, Young, Morehead, Johnson,
Hoke, Allison, Maxwell, Fries and
Sprunl, the North Carolina railroad di-
reetors, except Gov. Holt, who was the
only absentee.
On the train this morning from
Greensboro were the directors living
west Of Burlington and on the same
train was NEWS AND OBsRvER repor-
ter: other directors had already arrived
and before the east bound train had
passed Haw River the directors were
In session. 1t was a preliminary meet
ing. After four hours session the meet
ing adjourned for dinner then came
another preliminary meeting to which
was invited the private stockholders
present Mr.. r. G. Erwin of Savannah,
Ga representing the plant interest,
Hugh McRae, of Wilmington, and Geo.
T. Barns, of Georgia, accepted the invi
tation, as did also d. ". Haywood, who
was here looking after the interest of his
clients, the private stockholders in mat
ters Of taxation.
After three hours session this meet
ing took a recess and several Of the di
rectors made for the telegraph Office, pre-
sumably to notify the folks at home that
they were unavoidably detained. / in
terrogated several of them, but they
opened not their mouths. There was
much talking inside, so it is said, but
not word outside. 81 don't know; /
can't tell anything yet" Such expires
sions were written on every contenance,
accompanied by a sort of an air that
would indicate that each one had rail
road of his own, the sale of which he
was negotiating and with which negotia-
tions the public had no interest or con-
Germ.
Alexander and Morehead were seen to
approach one of the private cars. More
head went in while Alexander stood out
in the rain, but only for moment; then
Col. Andrews and Mr. Morehead, Mr.
Ryan, the Southern Attorney, Mr.. Alex
ander and Mr.. Spencer were seen wend-
seven and a half o'clock | called at the
door. On the porch stood Mr.. Manning
and Judge Burwell, the directors attor-
neys, Col. Andrews and others, shiver
ing in the night air, while glifnmer Of
light shone Oh them from the director S
room within.
81 know nothing" said one of the At
torneys in answer to question as to how
much longer the meeting would last:
Even the night winds that murmured
about the quaint old office seemed anx-
ious for some news TO bear away to the
people, but the lattice was closed and
even the breezes were shut out.
The news finally came at s O'Clock
p. N. 1t burst upon the crowd that sat
around the Burlington Inn and the an
nounoement that the term was ninety
nine years came like thunderbolt. Even
some Of those who were known to
strongly favor lease looked surprised.
Mr.. Maxwell was the first man / saw
after the meeting adjourned. He shot
the news at me straight from the
shoulder. There was no longer any
mum business. 'We have leased the
road for ninety-nine years, beginning
next January at six and half per cent.
for six years and seven per cent. for
ninety-three years The Southern Com
pany to pay all taxes and corporation
expenses" said he. Mr.. Oyerman was
next seen and confirmed the statement.
After supper another meeting was held
TO arrange details, sign contracts, etc.