The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-12-22
RYAN'S PROTEST TABLED
RESOLUTIONS FOR CONsOLIDA-
TION ADOPTED.
A REPORT OF THE ROADS CONDITION
Judge Watts Characterized the Protest Present
ed by Ryan's Attorney Against Consolda-
ton as impairment and insulting, and
it Was Promptly Tabled.

The Raleigh and Castor Railroad
Company stockholders meeting here yes,
terday had most sensational turn.
The object of the meeting was to take
action looking to consolidation of all the
roads of the Seaboard system
AS is well known Thomas f. Ryan, OF
New York, who owns small blocks of
stock III three of the roads, is fghtins
the consolidation scheme. In fact he
has been a disturbing element in the
corporation ever since he owned share
of its stock.
And it was out Of this that yesterdays
sensation developed. Ryan was not here
in person, but he was represented here
by attorneys w. Ii. Page and Lemue'
Eli Quigg, of New York.
Immediately after breakfast these
two gentlemen went before United
States District Judge Purnell and got
out temporary restraining order to
prevent the meeting.
Three hours later Judge Purnell, after
hearing argument from Seaboard attor
neys, dissolved the injunction.
The meeting of the stockholders was
accordingly held at p. M, pursuant to
an adjournment at noon, OH account of
the injunction.
Mr.. Bennehan Cameron presided and
Mr. John NJ. Sherwood was secretary.
The Committee on Proxies was MesSrs.
Chas. e. Johnson and r. T. Gray. They
found 14,9S3 shares of stock represented
by person or proxy. Of this amouu
sixteen shares belonged to Mr.. Ryan.
The purchase of the preferred and
common stock of subordinate companies
of the system was reported by Vice
President II. st. John with the prices
paid, and resolution approving and cou-
firming the same was adopted by a
vote of 14,967 shares to Is. This reso-
luton was as follows:
Resolved by the stockholders of the
Raleigh and Castor Railroad Company
that the action of the President and Di-
rectors in the purchase Of the preferred
and common stocks of the Carolina Cen
trail Railroad Company and of the Geor
gia, Carolina and Northern Railway
Company, at the prices stated in the re-
pert just Submitted to the stockholders
of this company, be and the same is
hereby ratified, confirmed and approved
Accompanying this resolution was the
following report read by Vice-President
st. John, signed by the president ami
the vice-president, for the board of Gi-
rectors:
ITO the stockholders Of the Raleigh and
CASTOR Railroad Company:
THE President and Board of Directors
report that acting under authority vested
in them by the resolutions of the stock
holders passed at their meeting held
at Raleigh on the ninth day of Deem
Der, they purchased from the Seaboard
and Roanoke Railroad Company, the
following securities at the prices named,
viz:
'3,02S shares Of the common stock If
the Carolina Central Railroad Com
pany at and for the price of $50 per
share.
Il ,040 shares Of the preferred stock Gf
the Carolina Central Railroad Compa
ny, at and for the price Of $50 per share
1857 shares Of the common stock o
the Georgia, Carolina and Northern
Railway Company at and for the price
of SO per share.
$500 shares of the preferred stock
of the Georgia, Carolina and Northern
Railway Company at and for the price
of $40 per share.
They would further report that tht
sale of the above named securities a.
the prices named, was specifically an
thoriZed by the stockholders of the Sea
board and Roanoke Railroad Company
at meeting of such stockholders hello
at Portsmouth, Virginia, on the 18th
day of December instant.
Such sale was made for the purpose
of providing funds to be used by tn,
Seaboard and Roanoke Railroad Con!
pany in improving its road-bed, to pur
chase heavier rails. additional engines
and rolling stock, including freight anc