Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-04-29
THE VA. T. CAROLINA.
Action Of the Petersburg Council
observation-disclosures Eager to he
gin Work-A Question Of Title
Raised.

| PETERSBURG, VA, Aprl -o.-e7Pe-
clal.)-A special meeting of the Com
mon Council was held this afternoon to
consider business concerning the sale OF
the Virginia and Carolina railroad. The
object OF the meeting having been ex-
planned by Mr. George ]. Seay. chairman
of the Finance Committee, that gentle
man submitted to the Council two let
tiers which he had received.
The first letter was from Mr.. Dewitt
Smith, dated New York. April 18th, ad-
dressed 10 Mr.. Seay. in which he en-
closed a letter from his attorneys,
Messrs. Alexander & Green. Mr. Smith
writes that the legal investigation which
he Is making in connection with the
road will cost several thousand dollars.
1 and as his interests and those Of the
city Of Petersburg are common, In that
both are looking to avoid any future
! distractions to speedy construction OF
| the road he hopes the Council Will APP
| preciate the nature of the present delay
and extend to him such time as may be
necessary TO conclude the investigation.
EXTENSION OF THE OPTION.
He asks the extension Of the option for
three weeks. Mr.. Smith declares that
! he is both ready and eager TO conclude
/ the matter and begin the work OF con-
struction at once, and that he will pro-
| coed to work just as soon as he Is in pos
| session of a favorable legal opinion.
| The letter from Messrs. Alexander &
Green, enclosed by Mr.. Smith, Is as fol-
| lows
New York, April oath.
| Mr.. Dewitt Smith:
Dear Sr.-I visited Petersburg on We'd
nesday OF this week, and had a very
satisfactory interview with Messrs. Seay,
Hablston, and Mason. Mr.. Mason
informed me that there would be no
| difficulty about getting from the Com
mon Council the additional resolution
which we think 1t desirable to obtain.
and IL was arranged that l should draft
a form and submit It to him. dis
covered for the first time, however upon
talking with these gentlemen, that in
October. 1891, the Common Council passed
resolutions creating $4,000 capital stock
| OF the Petersburg, Richmond and Caro-
| lima Railroad Company, and electinS
| president and set of officers. An attempt
was made TO rescind this action at an
adjourned meeting held five days later,
but the precise effect of these resolutions
Is a matter requiring consideration. Since
| my visit to Petersburg another serious
| question has arisen about the ute 10
property in North Carolina, owing to the
manner In which the deed OF trust 10
Messrs. Wexford & Daniel appears TO
| have been executed
have telegraphed and written 10
Judge MacRae. asking him TO examine
| the records in Warren county and ADVISE
us further upon this point. and we snail
probably have his opinion in the course OF
a few days.
In view OF all this and the numerous
| other questions affecting your proposed
= purchase, which require careful conside-
! ration, IL will hardly be possible 10 blVe
you the formal opinion you desire WITHIN
| the time now limited for the execution OF
| your agreement with the city OF Peters
! burg. and / would suggest that you APP
ply 10 the city OF Petersburg for an ex-
| tension OF say two weeks further time
within which to execute the agreement.
Yours very truly
CHARLES w PIERSON.
THE TIME EXTENDED.
The Council by unanimous vote granted
the request of Mr. Smith for an extension
of three weeks time in which to conclude
his Investigations.
ANOTHER PROPOSITION.
After the above proceedings the follow
ing communication from Mr.. L. Ariund
was read, but not acted on:
To the President Of the Common Council
of the City of Petersburg:
Dear Sir.-In case Mr.. Dewitt Smith or
his associates fail to put up the $4,000,
as was stated I'm his contract with the
city of Petersburg, in the stipulated time,
! wish to put in the following proposition
to the Common Council of the city of Pc
tersburg for the purchase Of the property
and charter of the Virginia and Carolina
railroad:
II The said Dewitt Smith fails to put up
the said money as aforesaid, | will place
in the National Bank Of Petersburg. Va,
a good and sufficient bond for $500 that
/ will fulfil the same contract which
Mr. Smith will then have forfeited. l
will also put up the same amosnt Of
money that Mr. Smith offered 10 put up
namely, N0000-as security that / will
act in good faith towards building the
Virginia and Carolina railroad. and that
/ will comply with the terms Of the con-
tract which Mr.. Smith offered, but will
then have failed TO have made good with
the city of Petersburg. If should fail TO
comply with the said contract in ten
days after the said charter and property
are ready to be turned over 10 me, / shall
have forfeited the 5000 bond. II my pro-
position is accepted by the city of Pc
tersburg and if, after ten days as afore-
said, | have complied with the terms of
the contract. the said 5000 bond Is to
be credited on the $4,000 which / shall
deposit in the National Bank Of Peters
burg Va. Very truly yours.