The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-01-31
CRIME OF A CENTURY
THE DIRECTORS SNAP LEASE OF
THE NORTH CAROLINA
RAILROAD.
TO THE SOUTHERN RAILWAY
For a Period of Ninety Nine
Years at Only Seven
Per Cent.
After a Session of Ten Hours

Af[er a session or len nOuTS
At Six and a Half Per Gent For the
Next zen Years and at Seven Per
Cent For the Next Ninety hree
Years Are the Terms on Which the
States Greatest Railroad Has Been
Battered Away Directors Spend the
Whole Day in Considering This
Shameful Deal But the Private Cars
on the Side Track Finally Win.
Burlington, n. c., August 16.
cat six and half per cent for six years
from january LIST, 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 tonight
after session of ten hours.
Burlington had to-day two heavy
showers, one of rain and one OF railroad
men. The rain came in torrents, the
railroad men in private cars. The rain
tried its best to dampen the ardor of the
railroad leasers, but it could not do it;
it pelted away on the roofs Of the private
oars and the office IN which the directors
met, but neither the storm outside nor
the storms inside could keep them apart
burt 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 a very exclusive side track pri-
vate car colony. Across the way, in
Secretary Ruffin's Office was gathered
together Messrs. Alexander, OyeTunan,
Turner, Young, Morehead johnson, Hoke,
Allison, Maxwell Fries and Spruill, the
North CaroEma railroad directors, ex-
cept Gov. Holt, who was the only absen-
tee.
ION the train this morning from
Greensboro were the directors living
west of Burlington and on the same
train was a News and Observer reporter;
other directors had alraedy arrived and
before the east bound train had passed
Haw River the directors were in session.
1t was a preliminary meeting. After four
hours session the meeting 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. Il. Barnes, of Georgia, accepted
the invitation, as did also A. w. Hay
wood, who was here looking after the
interest of his clients, the private stock
holders in matters of taxation.
"a flor Nfnraxa hor1>ct cacesin1 This moot
ing took a recess and several OF the d.
rectors made for the telegraph office pre-
sumably TO notify the folks at home that
they were unavoidably detained. l in
terrogated several of them, but they
opened not their mouths. There was
much talking inside, so it IS said but
not word outside. II don't know; /
can't ten anything yet" Such express
sons were written ON every countenance,
accompanied by a sort of an air that
would indicate that each one had a 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 i'm while Alexander stood out
Vn the ram, DlLL OHiy lOT HlOlutuLs buSu
Col. Andrews and Mr.. Morehead, Mr..
Ryan, the Southern Attorney, MIR. Alex
ander and Mr. Spencer were seen wend-
ing their way to the directors room. At
seven and 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 a glimmer of
light sshone on them from the directors
room within
81 know nothing" said one of the At
torneys in answer to a 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.
1.-The news finally came at O'Clock p.
m. 1t burst upon the crowd that sat a.
round the Burlington Inn and the an
nouncement that the term was ninety
nine years came hike a thunderbolt. Even
some of those who were known to strong
ly favor a lease looked surprised.
''Mr. Maxwell was the first man / saw
after the meeting adjourned. He shot
the news at me straight from the should
err. There was no longer any mum bush
ness. 1--WE have LEASED the road for