The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-11-20


Directors Because ne Is Not
in Accord With the
Management.
The stockholders of the Seaboard Air
Line system endorse the administration
af President Hoffman and Nice-Presi-
dent st John. This was done by u
formal resolution unanimously passed
sy the stockholders of the Raleigh and
aasten and of the Raleigh and Augusta
divisions at hir annual meetings yes
terday.
Tbav also EXPRESSED their condemnation
of the recent effort of the Ryan syndl-
cate TO secure controlling interest III
the Seaboard. This they did by drop
ming one of the directors, Mr.. Chas.
Fisher, and putting in his place Judge
Leigh X. Watts. Mr.. Fisher is an init
mate friend and supporter of Gen. John
Gill. president of the Mercantile trust
and deposit Company, of Baltimore.
through whom Thos. +. Ryan secured
options upon about $500 shares or the
stock. for the Morgan syndicate, While
Judge Watts is in full sympathy with
the Seaboard's present management ana
in favor of maintaining it as an inde-
pendent system.
1t had been intimated that Mr.. Ryan
would be here III person and make
things quite lively, but neither he nor any
OF his friends showed up. Although
every one in the meeting knew perfectly
well the meaning of the defeat OF Mr..
Fisher, no reference was made To Mr..
Ryan's or his failure to secure con
trolling interest in the Seaboard system
The meetings were all perfectly mar
rlonious. Reports of officers ON the con-
Sition of the road were received, the
management Of President Hoffman anu
Vice President St John was endorsed
and these officers were reelected by the
stockholders of both divisions and direc-
tors chosen for one year. rms was the
result of the meetings.
Those in attendance from distance
were President r. G. Hoffman, j. L.
Minis and Walter B. McAtee, of Balti
more. and Chas. t. Meyer, ex-president
Of the Baltimore and Ohio railroad; w
w. Chamberlain, of Norfolk; Leigh r
Watts, Vice President e. st. John, and
John NJ. Sherwood, of Portsmouth
Among the local stockholders present
were w. r. Tucker, w. @. Stronach
Ghas. e. johnson, A. NJ. McPheeters and
+. b. Bachelor.
RALEIGH AND CASTOR.
The first meeting held was that OF
the stockholders of the Raleigh and Gas
ton Railroad. 1t was called to order al
10 o'clock in the company's building on
Halifax street, President Hoffman pre-
siding and Maj. W. w. Vass acting as
secretary. The roll call showed a ma
jority of the stock represented. Presi-
dent Hoffman made most gratifying
statements in regard to the condition OF
the road His report showed that the
receipts were larger than ever before IL
the history of the road and that
for the three months ending September
80, which were the cut-rate months
they increased instead of decreased
as had been charged by the Seabcard's
competitors. At the conclusion of this
report the following resolution was
unanimously adopted:
Resolved, That the general manage,
ment of the officers of this line meets
with the hearty appreciation Of the stock
holders of the company"
Mr.. r. Cursor Hoffman was then re-
elected president and the following di-
rectors chosen: Louis McLane, w. w.
chamberlain, w. r. Tucker, Joseph b
Bachelor, Leigh Il. Watts, w. G. Stron-
ach.
All of these were members of the old
board kept Judge Watts, who was
chosen in place of Chas. d. Fisher, who
is strong friend of Gen. ellis.
RALEIGH AND AUGUSTA.
At IL o'clock the stockholders of the
Raleigh and Augusta Airline met. The
same officers presided as in the meeting
Of the Raleigh and Castor stockholders
and the business transacted was a very
much the same nature. The reports OF
the officers of the road were first sub
mitted and then the resolution given
above, endorsing the management, was
again unanimously passed. The report
of the president stated that the receipts
of this division. like that of the Raleigh
and CASTOR, were this year the greatest
in the history of the road. The receipts
for the three months of the cut-rates
also showed most satisfactory increase.
President Hoffman was reelected and
the following board of directors chosen:
Louis McLane, w. w. Chamberlain, b.
N. Duke. Bennehan Cameron, j. L.
Minis and Leigh r. Watts.
These are the same directors as last
year with the exception of Col. Bennehan
Cameron, who was elected in place of
Mr.. Joseph B. Bachelor.
DURHAM AND NORTHERN.
1t was IL O'Clock when the stockhold-
ers of the Durham and Northern branch
met. The officers reports for this road
also showed increased business for the
year. Considerable change was made
in the board of directors. The follow
ing compose the new boards: R. @. Hoff-
mar. president; ID. Y. Cooper, Leigh Il.
Watts, w. III. Branson, Chas. Il. john
son, Geo. w. Watts and l.. A. Carr.
The stockholders attending this meet
ing, in addition to those above named,
were. George w. Watts, B. n. Duke,
Leo. -. Heartt and T. II. Martin, of
Durham, and ). III. Bridgers, of Hen
derson.
At the conclusion of these meetings
President Hoffman, Yice-President ST.