The news & observer., 1897-02-23
THE LARGEST CIRCULATION OF NORTH CAROLINA DAILY PAPER

difference was on account of rolling
stock charged up to the North Carolina
Railroad. The fact was brought out
that in the Generals opinion it cost more
to rum a railroad through mountainous
region than Through a level region. The
General said the private stockholders
endorsed their action to this day. The
points tapped by the Atlanta and Char
lOtte Cabout y were given, all operated
by the Southern.
Capt. Alexander: Told about the Hoff-
Capt. Alexander: Told about the
Hoffman bid. Hoffman, st. John
Mr. Maxwell and Col. More
head present. He received a note
from Mr.. TOmpkins to meet these gentle
men, when Mr.. Hoffman began arguing
the making of the lease, after which
Capt. Alexander had remarked that the
present tenant had made an applica-
tion and if terms were satisfactory he
was willing to let them have it. He
asked him would he make a bid: Hoff-
man said, mot now, they viii run the
road down on me-" 1t was within three
days after the interview with Col. An
drews (sometime in July suggested Mr..
Alexander thought sufficiently covered
by Gen. Hoke.
Cross-examined by Judge Avery, Capt.
Alexander was made president at the in
stance of Gov. Carr. Did not see Gov.
Carr until after the intervief with Col.
Andrews, when Gov. Carr said it ought
not to be leased at less than T per cent.
About two weeks between the Raleigh
meeting and the Burlington meeting. Gov.
Carr gave him no advice about the lease
Carr gave him no advice a.
bout the lease until the Captain
mentioned it when the Governor
suggested the seven per cent lease. Didn't
get his opinion either directly or Indirect
ly, but acted on his own judgment. At
Burlington, there was opposition to the
90 year lease, and here he told of the
80 year resolution told by Col Oyerman.
The Captain favored 90 years and did
not want to go to see Mr.. Spencer Mr..
Spruill did not go to see Mr.. Spencer
ON 80 year basis, but was with the
Captain and not in advance of him, as
suggested by Judge Avery, offering 80
years together The Judge suggested
that Mr.. Spruill was talking 80 or 80
years with Spencer when Capt Alexan-
der came up and proposed 80 years, but
Capt. Alexander said the Directors had
passed 80 years proposition and that he
had told themthat he would not go to
Spencer If they would back down The
Captain had stated to Col. Andrews and
then to Spencer that he was in favor Of
80 years, but had said at the same time
that the Directors would stand to the 80
year proposition. The Judge said that
his information was that Mr.. Spencer
was debating the 30 years or the 30 years
lease When Alexander broke in
with the 90 year opinion. Cap
tain Alexander said that Spen-
years lease, but not with improve
ments. There was old ground covered
about the S130,000 improvements.
Did majority of the directors prefer
a 90 years lease? Capt Alexander
didn't know. Some of the directors
thought it was better politics to make a
90 year proposition. If he had been
going ON politics he wouldn't make any
lease at all. He thought the people
might be thrown into a political furor-as
they would not know the conditions-he
took it as merely a business transaction.
Didn't you represent the Governor? Yes,
was suggested by the Governor. I con
sidered that / was as much bound to the
humblest stakeholder as I was to the
State. | was considered one of the eight
directors on the part of the State tall
these answers suggested by Judge
Avery's rapid questions.) The four direc-
tors represented $1,000,000 Weren't
you a trustee for the $3.O00.000 stock
held by the people? I was the president
Of the North Carolina Railroad, and was
responsible to the humblest stocksolder as
we'll as to the State. The Judge insisted
that he represented the people, but the
Capt. only modified this by saying he was
president, also, of the North Carolina
Railway.
Grant: We've gone along far enough
on that line!''
Avery: Il am only trying to develop the
subject"
did You buy or sell any stock in the
road between April and August?"
Yes, sir; I bought ten shares which |
own to-day"
Capt. Day reviewed the Hoffman meet
ing with the Captain refreshing his mem
ory with the result that Hoffman asked
him TO put off the lease until 1901, but
not, Capt. Alexander, thought, with ref
erence to bidding, but Mr. Hoffman. he
said, was describing how the country
would grow in that time.
Then the East and West and North
and South and permanent arrangements
story was reviewed over the old ground,
noting that it was nearer to Norfolk
by Danville than through Raleigh. Col.
Andrews didn't take the shorter route
because he didn't want to leave Raleigh.
(Laughter)
Mr. Maxwell: ''He was at the Hoffman
interview; told what led up to it-the in
terview with Col Andrews, etc, and in
sisted ON Col. Andrews paying per cent.
which he said he would not recommend
to the company. We reported to the Gov
ernor, who left it to out Judgment, but
insisted on Mt least per cent. He told
Editor Caldwell in Charlotte that he
thought the lease would be for 90 years.
He received 4 letter from Mr. Tompkins
la director of the Seaboard Air Line),
asking the Hoffman conference, and Mr..
Tompkins urged them not TO make the