The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-09-30

! which shows gross earning ot 'o'f y
rer mile: net earning Tor t.' S"'"'
4Iio,I Of 81. 543. 1n.S makes allle'
l,twrrn me gross eatnihg' 81 t"'
soufbe1n Railway and the Norta lalo
81, I,i1r. rs division 'of I"'
;ouflern Railway. for the same period
81 200. making a difference IN t"e ne
Awnings of tae North Carolina kalli"ad
4 division of the Southern Railway
nd tie rest Of the Southern Railway, al
20 er mic. for TIE same ttlod A~I
e tner it for the purpose oil pr"rlh%
t8e fraudulent manipulation OF t"'
'outhern Railway accounts, with II NteM
0 Il meciatng TIE value of the NortH
arcIina Railroad"
Mr.. Bust &c: The Southern Halfway
company objects to the Introduction q.
MS letter us incompetent ana Irrelevant
lud to the testimony as not properly
roven. 1t is further objected 10 counsel
making speech. which is in effect an
rgument. in the PRODUCTION of evil
dence"
Nj. Averitt answered that the man,
er in which he had reviewed the con,
eats of the letter was with vi2w to
aving the time of the court. He
uTtuST dISueu luul llit Tt(Sl was Sltht
V competent in that it showed what in.
luencgs were brought to bear on the
directors in the making of the lease.
1t was objected to on the part of old
directors. by Mr.. Manning, for the reas-
on that the letter was written yea;
lfter the making of the lease.
Judge Avery didn't think this was
material.
The letter was admitted by the Mas
ter subject to the objection of plaintiff S
counsel, who lodged a motion to strike
out the evidence as irrelevant and incom.
petent.
Judge Avery now offered in evidence
certain extracts from the testimony of
witnesses in the legislative investiga-
ton, touching the making of the lease.
Mr.. Manning objected to this ON the
ground that part of exhibits cannot be
put in evidence without putting in the
whole Of the pleading or affidavit. The
Southern Railway Company and the
Central Trust Company also objected.
Judge Avery said it was rule of
evidence that any particular part Of O
pleading or affidavit could be offered in
evidence. If the other side wanted the
other parts of the exhibit put in evil
dence they could introduce them.
The evidence was allowed by the Mas
fer. subject to objection by the plain
tiffs.
The testimony of Lee S. Overman:
former president of the North Carolina
Railroad, was part of this exhibit in
troduced. 1t showed the threats made
by Andresw in regard to paralleinc
the road and ha oil .,,l l. l..
to bear by him on the directors to COM
pei renewal of the lease. Touching this
point Mr.. Overman says:
MIR. OYERAIAN'S STATEMENT.
Il as President, called a meeting of
the Board OF Directors to NEE in Green's
boro on the 10th of July, the day prior
to the regular meeting, which was ON
the 11th. if | mistake not | asked Col.
Andrews to meet with us. He came
and submitted proposition to lease the
North Carolina Railroad. He stated
that it was the desire of the Southern
halfway Company to know whether or
not they would be able to lease the road;
that they had an option on the Atlantic
and Danyille Railroad from Danvil!e to
Norfolk; that they had charter for a
road, known, / believe, as the North Car
DINA Midland. which was completed
from Greensboro to Mocksville, in DAVE
county, and they also owned the road
from Mooresville to Charlotte, in Neck
lenburg county; that they only had a.
bout 30 miles of road to build to give
them their connections. That the desire
Of the road was-and they had already
made arrangementg-to secure property
in the city of Norfolk, Va; if they could
not lease the North Carolina Raj road,
they desired to build the link between
and Mocksv:lle, and they
would control, or own, or lease, the At
antic and Danville, from Danville to
but they preferred, if they
could get lease of the North Carolina
Railroad for a long term of years, to es-
tablish a great East and West line
through North Carolina by Paint Rock
via Salisbury, Greensboro, Raleigh,
Selma, on to Norfolk, as well as their
great North and South line from Wash
ngton to Atlanta; that the old lease pro-
1ided that they should have the right
o take off the betterments they had put
IN the road and turn it over to the
State in like condition as they found it.
he then said he was willing to take a
enewal Of the lease and pay taxes. The
Board of Directors (Col. Andrews then
eff discussed the matter among them
elves, and appointed committee COM
,osed of Gen. Hoke, Mr.. Maxwell and
myself. The next day we We're to meet
II regular stakeholder meeting, but the
meeting failed to materialize. The pri
rate stockholders would not meet, be-
.ause they were afraid we would put
hem on the tax list. We had meet
ng ON the 18th, of the directors. Mr..
kornegay, of Goldsboro, had died. We
elected Capt. S. b. Alexander to fill the
vacancy. / thereupon resigned the pres
dency Of the North Carolina Railroad
and the board elected in my place Capt.
Capt. Alexander was then
appointed chairman of the committee to
confer with Col. Andrews and get the
best terms possible. The board being
confronted with the fact that, in case the
Southern surrendered the lease, we
would have very little else to lease than
a road bed; the Southern having the
right to tear away many of the improve
ments made by them. / cannot desig-
nate the matters, but many. | thought