The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-02-26
AT THE SECOND HEARING
SENATOR BRYAN AND OTHERS
APPEAR AND SPEAK
AGAINST 1T.
THEY ARGUE THAT ITS SrOCK IS RISING
And the business Of the Road Continually Pick
ing up. Hostile Management Would Ruin
Fish and Trucking Interests, Said
Mr., PeAsaIl,

The Senate Committee on CORPORA
tons, Senator Daniels presiding, gave
the parties offering to purchase the AT
lantic and North Carolina Railroad an
other hearing yesterday afternoon.
Several persons living on the line were
present to give information as to the
condition of the road. After the hearing
the committee decided that the matter
would be considered further on Monday
next ar 4:30 p. M, at which time q
large delegation Of interested parties Is
expected.
When the committee met Mr.. c. NJ
Busbee stated that he had two gentle
men present who would give information
with regard to the condition of the road
on Monday. and he hoped to have Others
who would give expert testimony as tC
the physical condition of the road. Il
am not prepared" Mr.. Busbee said, "tC
admit, as citizen of North Carolina
that the people living along the road
are the only ones interested in the sale
of TINS property. / feel that people liv-
ing in other parts of the State are inter
ested equally with them"
Discussing the reliability of the syn
dictate, MIR. Busbee said that among the
parties interested in the syndicate was
Col. Julian S. Carr, of Durham.
Mr.. w. d. McIver, of Newbern, ap
peared and made a statement. Mr.
McIver said:
II only know this about the road: II
has been a bone of contention among the
people of our town. 1t has kept our
people divided 1t has prevented any
unanimity on the part of the people OF
Newbern and Craven county. / hear q
great many men of Newbern say that
but for the road we would be q united
people. and prosperous community.
hear that it would be better for The
State and community to sell the road
even if they did not get the full value
/ know something about the price stock
has been selling at. il sold for S22.JC
share about two years ago. | have
heard that one share was sold at admin
istrator's sale at public auction fol-
$780,
Mr.. McIver then discussed, at consid
cradle length, the lease which had beer
proposed during Governor Carr's term
for period of nentynine years on q
2 per cent basis. This was gone over in
order to give the committee clear idea
of the qualities OF the road as a divi-
dend-paying property.
Mr.. McIyer continued: MY informa-
ton is that under Mr. Chadwick's adj
ministration at one time he was unable
to pay dividend. and subsequently. when
it went into Mr. Hancock's hands,
think it paid per cent dividend When
Mr.. Patrick came in it paid per cent
dividend for six months.
Mr.. Busbee: 'sDo you know upon
what terms Governor Carr offered the
Atlantic and North Carolina 10 the
Southern"
Mr.. McIver: 81 was told upon a basis
of 2 per cent. though | do not know
whether il was true or not"
SENATOR BRYAN'S SPEECH.
Il take it for granted that in a measure
Of such Importance as this that this
committee would not think that the
information that it had before it. or that
it is going TO get, Of bringing this bill
here and recommending it favorably be-
fore this body without going before a