The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1897-04-27
The Atlantic and North Caro-.
lima Railroad Case.
THE PROPOSITION MADE
ATTORNEYS FOR STOCKHOLD
ERS CONSIDERING 1T.
CONCESSION BY 10Th SIDES
Judge Adams Refuses to Modify the
RESTRAINING Crd.r Granted BY
Him Friday Lawyers Re"
tus. to Talk.

There is very great probability Of a
compromise of the Atlantic and North
Carolina Railroad injunction cases.
A proposition has been made by the
attorneys representing the new director
ate and is now under adviscment by the
> private stockholders.
Exactly what the terms of this COM
promise are, and whether or not they will
be accepted l have not been able to learn.
But this much Is certain, concessions
are to be made by both sides, and both
the rights of the State and the private
stockholders are to be protected.
This talk of compromise became quite
strong yesterday afternoon, after Judge
Adams refused to materially modify the
injunction granted by him Friday morn
in, restraining the new board of directors
from meeting to-day, as they had intend
ed doing, or at any time thereafter with
out the consent of the court.
This request was made by Messrs.
Jones and Boykin, attorneys for Mr.. w.
X. Tucker and other private stockholders,
who asked modification of the injunc-
ton so as to permit the meeting to-day,
TO the end that the officers of the road
obey bylaw requiring the Finance COM
mttee to approve all disbursements in
the operation of the road. A bylaw to
this effect, together with many others of
a similar nature, was enacted at meet
ing of the stockholders in Goldsboro last
December; and it was alleged by the de-
PENDANT that it has not been observed by
the present officers.
The plaintiffs, who were represented in
this hearing by Messrs. c. r. Aycock
and +. M. Simmons, replied that this
bylaw. together with the others passed
at that time. were void, being in viola
ton Of the charter.
The second purpose of the meeting.
which was to be held to-day, as set forth
by the defendants, was TO take action on
the two ac.s of the last Legislature
touching this road. 1t was desired. they
said, to ascertain whether they should be
accepted or rejected, as amendments to
the charter
The plaintiffs contended that the modi- |
6cation of the restraining order to this |
extent meant the complete abrogation of |
it, and to grant the privileges asked would |
be giving them permission to do the very I
things they were enjoined from doing by !
the restraining order.
Judge Adams agreed with this view |
of the matter and declined to entertain |
the motion stating that the matter was |
now in the hands of Judge Timberlake
and would be heard in the course of few !,
days Mayo
As to the bylaw requiring the Finance |
committee to audit all accounts. the
Judge announced that he was willing to i
modify the order so as to put in force
the old bylaw requiring the officers to !
make a report to the Finance committee !,
Of all moneys spent in the conduct of the
road.
This, however, was not satisfactory to
the defendants, and they declined to &C
cept it. And the matter now stands Just
as it was after the granting of the In
junction Friday morning, except that
has been, proposed.
The lawyers would not discuss the mat
ter, however and little is known of the
terms Of the proposed agreement.
One of the defendants attorneys &C.
that such a proposition had
been made to them, and they were now
it, but ne could not say yet
whether it would be accepted or not
''There is no proposition of compro-
mise" said a lawyer on the other side,
ssbut there has been a discussion of
nos,,ihle basis Of compromise which may
lead to an agreement.
The next few days VIII probably see
sb. determination of the whole matter,
as neither side wants to go further In /
the courts.
FOR REyEN IL Pos ms.