The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-12-22

will make So,0O0.000 profit. In this
matter he is acting as buyer and seller.
and this establishes a case of fraud
Williams as banker on one side, Viii
lianrs as railroad president on the other.
1t is fraud that the president of the
company should profit 100000 at the
expense of the minority stockholders.
Il have been present at seven or
eight of the meetings and l have re-
ceived the same treatment at all of
them.
"At Portsmouth, when | questioned
the correctness of the report of the
proxy committee, / was told that if
went further it would be made a per-
sonal matter And Judge Watts there
is one of the men who said it..
Judge Watts: THAT statement is I'M
qualitiedly untrue"
Mr. Page: Il can only say it is true"
Judge Watts: Il repeat that it is I'M
qualiiedly false"
Mr.. Page: "Well, you at least stood
by and endorsed Mr.. Hoffman when he
said it. and for that you are as much to
be condemned as if you had held the
pistol to my head yourself
Judge Watts: Il endorsed all Mr.
Hoffman said
Judge Purnell interrupted by asking
Mr.. Page what irreparable damage Mr.
RYAN was about to suffer from this
meeting.
Mr. Page said it was that Ryan had
bought about one-ifth of the stock of
the Seahoard and Roanoke Railroad :;
that he bought this stock and none other
and he had right to it. To give him
something else, he declared would be n
violation of contract and contrary to the
United States Constitution.
"He bought Seaboard and Roanoke
stock. but now they are trying to make
him surrender it and take consolidated
Seaboad system stock. They have no
right to do this. As our property Is
more valuable than theirs they are try
ing to make us give it up for their bene-
fit There was never Il case i'll which
the rights of stakeholder was more
ruthlessly trampled upon"
while Mr.. Page was speaking Lem
my Quigg. Of New York, alias Rufus
II. Morrow, of Jersey City" had come
in and taken a seat where he could beam
upon Mr. Page and the court with the
latest Teddy Roosevelt smile. Now and
then as the argument waxed warm a
Whit of rose water would float like Il
halo gone astray from Lemmy's carefully
parted locks. But always that smile.
JUDGE WATTS REPLIES.
At the conclusion of Mr.. Pages speech
Lemmy slipped his chair near him and
modestly offered congratulations.
Judge Watts replied to Mr.. Page.
He began by saying that he had arisen
more for personal explanation than
anything else.
.sMr. Williams and his associates need
no defense from the UNANIMOUSLY false
charges just made, coming from the
source they do They are just what I'd
expect from Mr.. Ryan's attorneys with
a record of the Georgia Central the
Metropolitan of New York and some
others behind him"
With this Judge Watts read the steno-
graphic report of the Portsmouth meet
ing referred 10, to prevent he said, the
court from being mislead by the flag
rant Misrepresentation just made"
Il would have your honor to bear in
mind that | have and do now character
ize the statements of Mr.. Page as alb
soutely false--as false as are the
averments in his bill.'
At this Mr. Page sq,rirmed and tried
to interrupt Judge Watts, but he con-
tinued:
Ryan is trying to disrupt the Sea-
board system. He has been trying it for
three years This makes the twelfth
suit he has instituted for the purpose.
He has been whipped and driven out of
every court. State and Federal, in the
land, except in one suit now pending
trial
He owns only twenty-one shares in
the Raleigh and Castor Railroad and
over that he comes here to make trou-
BILE.
And why did they wait till today.
They knew forty-five days ago this meet
ing would be held. They Went before
Judge Waddell at Richmond last night
and tried to get an injunction and failed.
Now here they come today to make
another attempt. They have had seven
suits before Judge Simonton with like
result
Judge purnell: SIS it proposed, as
here charged, to destroy Ryans stock?'
Judge Watts: Most positively not
and as the best proof / can offer of this
| will read you "a telegram of recent
date from President John Shelton Viii
Hams to Mr.. Ryan. He read:
Richmond, Va, Dec. II, 1890.
Thos. Il. Ryan, 100 Broadway, New
York
have received your telegram. VIZ
have already submitted all the offers
suggestions and propositions that amy
fair minded man could reasonably desire
including propositions for the arbitra
ton by court or disinterested persons OF
the differences between us, and we have
nothing further to propose. Our efforts
to secure a peaceable solution OF the
question have been in no way reciprocal
ed by you, but you have appeared tx
be determined TO place in the way OF
this great enterprise which means Sc
much for this whole section of country
every obstacle within your power direct
ly and indirectly. AT the solicitation o.
yourself or your attorneys, meetings Were
postponed, hoping that an adjustment
might possibly be reached, and your at
torneys have endeayored to make capl
tai out OF these adjournments, by secur
ing the sending out of newspaper re
ports intimating that these adjournment
were forced upon us }by your opposition
Your attorney visited a newspaper oftlc