The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-01-31

rectors of the n. C. Il. r., met In Raj
e:gh, and had a long session with the
Governor The mertiGg was called CT
the heels OF the acceptance 10y the cfty
of Norfolk. Va, 81 IA Proposition matte
by the Southern Railway To make NorIoik
its terminus. That arranged, the SOuCn-
ern Railway authorities urged the Gov
ernor to enter into lease with the Sourn-
ern for the North Carolina railroad,
though the lease then had six years 10
run. The Southern people CLAIMED that
they were anxious to increase Their Dusa-
ness through North Carolina by hauing
adj freight from Greensboro VIA Selma 10
Norfolk instead of to West Point, va,
and that before making caange OF
route ii was necessary TO know that Uhey
could retain the lease of the Noruh Cafo-
Una road after the present lease eSplreu'
Rasultss have shown that SUCH route
tbroue-h North Carolina is of insignificant
value.
Referring to the meeting in Raleigh, the
Neus and Observer said in its local coll
umns ON the oath:
"In brief, by deliberations of last night
and this morning, they will probably
decide upon the terms of rent of the n. y.
Railroad to the Southern, the lease OF
which expires in six years. The ques-
ton will probably be settled whether the
Southern will renew the lease at the end
of six years, or lease from this time, ana
1T may be that a new rental Inquire may
be set.
In its local columns of July 10Th, the
News and Observer had this item:
TO LEASE OR NOT TO LEASE.
That was the Question That Occupied
ME Attention of the Directors.
s.In the office of VSce President An
drews. there was yesterday held meet
ing for the purpose of canvassing the re-
leasing of the North Carolina Railroad
TO the Southern Railway Company.
The meeting continued for four hours,
from ten O'Clock in the morning, with
the following gentlemen present: Vice
President Andrews, representing the
railway: Messrs Oyerman, Alexander
Maxwell. representing the States stock
and Mr.. r. +. Hoke, representing the
MI vate stockholders.
When these gentlemen appeared in the
lobby of the Marlboro, they We're met by
representatives of the press who were
anxious to learn in behalf of deeply
TDIPFtSleu puD1iN "ANe ANSNN 49, "
vest bew
But if there had been am agreement
amanp the eonferees not to speak to amy
one concerning anything that had tran
spired there could not have been great
or scarcity of words. All the gentlemen
had far-away looks, as if to say wen
tell YOU all about it IN about six years.
For then the lease expires.
nv .xght lsa "a Hold f0ilr
hours skirm.sh, and the reporter of the
News and Observer has many wand Fea-
sons for saying THAT propositions ana
counter-proposi;io were made
1t may be safely said that at the meet
ing there was no concealment OF the fact
that the Southern railway was quite
willing to renew the lease ON the terms
now in force, namely the payment OF
S273. 900 which include 61a per cent in
terest on S4 1000 600, $4,000 rent for the
Union depot and $4,000 taxes"
In an editorial on the same date, we
said:
THERE is NO NEED no CONSIDER
THE LEASE NOW.
1.-The Directors of the North Carolina
railroad were in conference here yester-
day with Col A. B. Andrews relating to
a future lease of the North Carolina rail-
road. The conferees stated that no a
greement was reached 1t is understood
that Col. Andrews made a proposition
that the Southern Railway would be
willing to release the property for term
of ninety-nine years and pay the State
65 per cent. ON its stock, and TO pay
certain taxes and other small amounts,
the aggregate of which could not be learn
ed positively.
.sOn the 18th day September, 1871,
the State. through the Directors of the
North Carolina Railroad, leased that road
from Goldsboro to Charlotte for the term
of thirty years to the predecessors of the
Southern Railroad at rental of 9 per
cent per annum. Then Durham, Sails
burg. Greensboro and Concord, now
fourishing young cities, were small vii
lagos; Burlington was nothing but the
shops of the company and was called
Company Shops; there were very few fac
tories where now there are dozens; bust
ness was small compared to what it IS
at present; and the business of the road
was much smaller than now.
The present lease of the road does not
expire until September 1901, and 1t viii
be time enough to consider extending the
lease in 1899 or 1900 Six years is long
time, many changes may occur, and what
might seem a wise contract to-day might
be most unwise six years hence.
'"rhe News and Observer protests a.
gainst any acton being taken by the di-
rectors at this time. There is no good
reason for anticipating the time for ac-
ton, and many reasons why, in a matter
of such far-reaching importance, the d.
rectors should make haste slowly.
''Three sessions OF the Legislature will
be held-in 1897, 1899 and 1901-before
the expiration of the present lease, and
the Directors will make a blmder that
will he equal to a crime if they make any
lease without first submitting it to the
representatives of the people. The leg
isEators represent the people, and there is
abundant time for an appeal 10 Caesar"
before taking action.
Under no circumstances, no matter