The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1896-11-21
The Republicans 20 Not Deny That
They Oppose It eecause It Win
be Depriving Them OF
Patronage.
Patronage.

be Depriving Them OF
Patronage.
The temporary injunction restraining
al. stockholders and directors OF the
Atlantic and North Carolina Railroad
from leasing the road will be argueu
nv counsel before Judge W. ,. Y o.
Robinson at Chambers in Halifax on
.ext Tuesday. The plaintiff VIII DC
represented by Messrs. T. X. Purneii' OF
this city, and Seymour Hancock OF New
barn Mr.. p. M. Pearsall, attorney for
the Atlantic and North Carolina Rail
road Company. will be leading counsel
for the defence.
The restraining order was granted on
petition az one Robert Hancock, of New
bern. who is bitter Republican partisan
and heli the office Of collector of customs
under Uarrison's administration. lie
exvns only one share of stock in the road
but II is hinted that he represents MI
las A Bryan. of jamestown fame, MT
Rrvan owns is shares of stock in the
road and was once its president. Since
that time he has fought the management.
and when the directors met in Morehead
en- November i3. lie was the only one 70
oppose the acceptance OF the proposition
made hy the t2oldsboro and Moreheaa
Railway Company.
In this fight Ar, Bryan is backed up
by the entire Republican party Ihe
new administration is determined THAT
shere shall be no lease They want the
road kept in politics. it IS said, and they
do not deny it, in order that they may
give the Offices to the faithful, and even
wreck it, if need be, to keep them
selves in power.
REPUBLICANS OPPOSE IT.
On the other hand ii is charged by the
Republicans that the purpose of the lease
at this time is simply to take the road
cut of politics and cheat them Of their
hard-earned spoils-spoils for which they
have been hungering and lighting for
nearly a quarter of century. They
contend that had the Democrats been
successful in the last election nothing
would ever have been heard of the lease.
But the basic principle on which they
rest their case is that it is ultra wires,
or unauthorized by law or the charter
under which the road was built and is
being conducted. 1t will be argued that
no authority is given in the charter to
lease or farm out the road absolutely, as
is proposed in this instance.
In view OF these charges and counter
charges and because Of the fact that the
matter is to be heard and judicially pass
ed upon next Tuesday, it might be well
to review the facts touching the proposed
lease, the formation of the syndicate and
- rlfAva
The first notice that the public had
of the proposition to lease was a special
in the News and Observer from New
bern to the effect that there was meet
ing of stockholders to be held on 9th
of November. This was a special meet
ing and no purpose of the meeting was
put in the notice sent out to stockholders
or published in the paper, as is required
by the rules of the company, to be done.
Seeing this mistake the meeting, as first
called, was abandoned and a second no.
tice, for meeting on the 18th, six days
later, was issued This was sent out
On the 9th and gave only seven days
notice of the meeting. 1t then develop
ed for the first time that the directors
had, previous to the first notice, agreed
to make a lease for 40 years to a quasi
corporation, formed under the general
law, to be known as the Goldsboro and
Horehead City Railway Company.
THE GOLDSBORO SYNDICATE.
Following is copy OF the articles of
incorporation filed in the office Of the
Secretary of State:
'sWe, the undersigned, Henry We'll,
j. s. Bizzell and w. T. Yelverton, are
DESTROYS of forming corporation for the
purpose hereinafter set forth and to that
end we hereby enter into the following
articles of agreement:
81. The corporation named shall be the
Goldsboro and Morehead Railway Com
pany.
80. The business proposed is to lease,
maintain and operate the line Of railway
extending from the city of Goldsboro,
in the county of Wayne, to Morehead
City, in the county Of Carteret, in the
State of North Carolina, now owned by
the Atlantic and North Carolina Rail-
road Company, together with all the
property. franchises, privileges and ap-
purtenances of said company.
SO. The place where said business is
proposed to be carried on is along the
line of the Atlantic and North Carolina
Railroad Company.
81. The length of time during which
it is desired that said corporation shall
exist is forty years from the 31st day
Of October, 1896.
''5. The following named persons have
subscribed their names as stockholders
and corporators: Henry Well, j. s. Biz
zell and w. Il. Yelyerton.
"6. The capital stock of said corpora
tion shall be $4,000, to be divided into
shares of 500 each, with the right to
increase the same to $500 when a major
ity of the stockholders so direct, and
there shall be no personal liability upon
the Stockholders
This is signed by Henry Well, ]. s.
Bizzell and w. T. YeIyerton 1t is wit
messed by Joe Rosentbal and duly proved
before the clerk of court of Wayne coun-
ty and ordered recorded.
PETITION FOR INJUNCTION.
On November 7th Robert Hancock, Of
Newbern, a stockholder. in behalf OF
himself and other stockholders com
menced the suit now pending before
Judge Robinson, to prevent the leasing