The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-02-20

Sold by all medicine dealers.
| leaving about 10000 shares, or One-six-
teenth of the whole, scattered about over
the country in small holdings in the
hands of other parties It, therefore,
happened that in December, 1898, when
Col. Carr and his Philadelphia asso-
ciates sold out their holdings in the
Blackwell Company to the Union Tobac-
co Company (which was then supposed
to be a rival of the American Tobacco
Company they did not and they
could not. sell all the stock of the
Blackwell Company, for other parties
owned the remaining outstanding ten
thousand shares
And here is where come in.
bought last June one of these remain
ing outstanding shares and had it trans
ferred to me in my own name on the
stock book of the company. l bought
it for a purpose as is manifest now. l
gave only SIS eighteen dollars for it. A
party in the interest of the Tobacco
Trust has recently offered me $50 for
it. which is its face value. declined
it, and told him it was not for sale at
any price"
your share of stock really worth?'
Major Guthrie: well, under present
conditions with the Tobacco Trust in
full control Of the business and manage
ment of Blackwell's Durham Tobacco
Company, with the power they have and
do exercise TO so manipulate the bust
ness as to allow the Blackwell Com
pany to make no net profits, but all the
profits to go to the stockholders in the
American Tobacco Company; under
these circumstances and conditions my
share of stock gets no dividends, and
| never will get any dividends under such
manipulation, and therefore my stock is
frozen out so to speak. and is not
worth the paper it is written on as
money investment.
But we shall see later on what my
share of stock is worth, if the Legsla-
ture passes my bill to repeal the chart
er and wind up the business and give
me as a dividend on my stock my share
of the capital and assets of the company
after paying off all it's debts, &c.
But whether my share of stock i'll
the Blackwell Company is worth much
or little, if | know myself the Tobacco
Trust has not, under present conditions,
enough money with its $15,000,000 sur
plus to buy this little piece of paper for
which | gave only eighteen (S1S) dollars
as before stated. | did not buy my
share of stock to make q big pie of
money out Of it. The fact is, l don't
need a big pile of money. My prayer
through life thus far has been Give me
! neither riches nor poverty"
Reporter: Major Guthrie, have you
OH ha I SIntt nc
ing your bill?'
| Major Guthrie: II have not and I
| think my confidence in the passage OF
the bill is we'll grounded for the follow
/ ing reasons:
Il. There is no possible doubt about
the legal authority being vested in the
| Legislature to do it. The State Con
| stitution. section 1, article s, i'll plain,
unmistakable terms, as plain as Ian
guage can express it, fixes that beyond
dispute and no provision in the United
| States Constitution applies to this mat
| ter.
80 ] know very large number of
! the members of the present Legislature
personally. and I know them to be men
Of character and integrity and beyond
the reach of improper or criminal in
| fiuences, and l believe that a very large
| majority Of the present General Assem-
bly, are men of that sort, and cannot be
bought.
20. | am publishing my proposed bill
nearly four months in advance of the
adjourned session. to inform the MEM
bers and also to inform their constituents
of its meaning and purpose, and that
there may be no excuse for delay. L
expect to have the bill printed at my
own expense and copy of it laid on the
desk of each member the first day of
the adjourned session.
Il make no threats against anybody
of course, but the Democrat or the Pop
ulist who absents himself from attend
| ing the adjourned session to make n
quorum had better fortify himself with
Doctors certificate to show to his CON
stituents or if he does attend the adj
| iourned session and opposes my bill and
votes against it, he will have a lively
time in explaining his action on the
stump when he goes to make an anti
trust speech in this campaign. This
Legislature has the power, of course, to
| kill my BILL but should they do so, my
friends who favor it will have the salts