Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-01-18

Mr. Everett St John. vice-president
ana General manager of the Seaboard
Air Line System of railroads, returned
last night from Raleigh, where he at
tended meeting of the directors and
stockholders OF the Raleigh and CASTOR
Railroad Company. He was seen and
asked for the news and gave out the
following:
Great progress was made to-day Mt
Raleigh toward the contamination of
the plans of the greater Seaboard Air
Line system.
Meetings were held of the directors
and stockholders of the Raleigh and
CASTOR railroad, and resolutions were
adopted providing for the immediate
merger with the Raleigh ana Castor
Railroad Company OF the Raleigh and
Augusta Air Line, Durham and North
,ern railroad Carolina Central railroad.
G q. and y. railway, Palmetto rail-
road and Chesterfield and Kershaw
railroad. Under the plan adopted, all
the hpysical properties OF the above
mentioned railroad companies VIII be
forthwith acquired by the Raleigh and
CASTOR Railroad Company. thus in
creasing the mileage owned by the
Raleigh and CASTOR to eight hundred
miles.
Arrangements were also made for the
issuance OF S5,000.000 first mortgage
bonds upon the Raleigh and CASTOR
railroad properties, including It's own
ershtp in other lines. of which $1,000
GOO one million two hundred thousand
is TO be reserved in the treasury for the
purpose of retiring the present out
standing bonds OF the Raleigh and Gas
ton Railroad Company. The total in.
debtedness of all the roads to be thus
Immediately merged with the Raleigh
and CASTOR railroad. Including new
bonds to be issued, will be about four
teen million dollars. or less than SIS
600 per mile on the 500 miles OF road
which will be directly owned by tho
Raleigh and Castor Company. The
earnings OF the system show a large
surplus over and above the interest ON
all bonds now outstanding. or on those
proposed to be issued The vote upon
questions submitted to the meeting to-
day stood 14967 In favor OF and IS
shares against. The eighteen shares
were voted by the attorneys of Thomas
F. Ryan.
Meetings were also held of the stock
holders OF the Durham and Northern
railway. at which every share OF stock
OF the company was represented and
voted unanimously in favor of the
merger with the Raleigh anu CASTOR
Railroad Company.
at the next meeting OF the stockhoId
ers OF the Raleigh and CASTOR railroad.
which Will take place later on in the
month. the acquisition OF additional
railroads will probably be reported.
MIR. RYAN APPEALS.
Thos. f. Ryan Tuesday, through his
attorneys. w. III. Page, Jr.. and r. q.
Burton, perfected his appeal from
Judge Purnelrs decision In -the-iniunc-
ton case heard at Raleigh on Decem-
Der 2Ist.
This injunction, it will be remember.
cd, WAS asked to prevent a meeting of
tho stockholders OF the Raleigh ana
Castor and the Raleigh and Augusta
railroads. called at Raleigh on Decem-
Der 2ist, for the purpose of consolldat-
Ing those roads with the rest of the svs-
tenn. Judge Purnel at first granted tho
injunction on an eS parte hearing, hut
later on. hearing argument from tho
other side, lie dismissed the order and
the meeting was held
The appeal is to the Circuit Court oe
Appeals, aud is based on the following
reasons:
First. That after the first order of
December 2lst was signed. by which
the temporary restraining order was
granted, and the bond was dulv fled
Continued on Page 5.