Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1901-02-20

date of November -, 1895, the follow
ing circular letter was sent out to the |
stockholders:
"MACON, Nov. 10, 1895.
"HO the Stockholders of the South |
western Railroad Company:
sit has become the duty, and it is |
the pleasure of your board to inform |
YOU, that the struggle which has been
so continuously and laboriously carried |
on for the past three years to preserve |
your property from the destruction |
threatened through it's entanglements
with the Central Railroad and Banking
Company of Georgia, after the insolv-
ency of that company, has reached a
successful termination. A lease in
perpetuitY has been signed and your
road delivered Hereunder to the Cen
trail of Georgia Railway Company. BY
the terms of this lease your company
is to receive rental equal to per cent
interest per annum upon Its capital
stock, beginning from November 1,
1895 under which the first payment of
rental is to be made on January |, next,
which Will cover the months Of NOvem-
Der and December of this year, and
thereafter payments will be made on
the first days of each July and January.
the lessee of all necessary expenses for
maintaining your organization and for
the transfer of stock and the distrlbu-
ton of dividends, so that per cent.
rental will be net to the stock
holders. Also your company is reliev-
ed and acquitted of any and all liability
growing out of It's being party to the
so-called trIpartite bonds and from It's
Endorsement upon the bonds of the
Montgomery and Eufaula Railway
Company, thus leaving your company
entirely tree from debt. La addition
to this, the lessee IS to pay to your COM
papy the defaulted rental of the Cen
tral Railroad and Banking Company
of Georgia on the basis of 5 pr
cent. that is, your company will re-
ceiye from the Jesse a sum equal to
per cent. annual dividends on it's CAPT
tai stock from July /, 1892, to Novem
Der /, 1895, amounting in all to $780,
1873 "a.
your board has determined, so soon
as this money shall be received, and
which it is believed will be during the
present year, to declare dividend of
10 per cent to the stockholders, paya-
bic to those of record at or about the
date of declaration, notice of which and
notice as to closing of books will be
duly advertised.
"Out of the said sum of 1865, 1873 "a
so to be received for back interest your
directors have agreed to pay approx
mately $4,000 which will cover all
ices aud expenses of litigation and
compensations for all services rendered
to this company by those who have
conducted the negotiations which have
led to the present most satisfactory
status of your company. After the pay
ment of said dividend of 10 per cent
and said sums to cover fees. expenses,
! etc., there will be left in the treasury
of your company about $4,000, which
| your directors think should be invested
| to meet such unforeseen cOnting encles
as may hereafter arise.
Your directors feel that.you should be
satisfied with the outcome, which
places your property free from debt
and entanglements of every kind and
upon such basis that for the future
there can be no reasonable doubt of
your receiving an annual per cent
dividend upon your stock. We at
least are gratif1ed at the result and,
believing that you will be, congratu
late you.
"R. T. WILSON, President.
So. S. BANTER, Vice-President.
''B. A. DENMARK,
90 F. MINIS,
''T. b. GRESHAM,
81. M. JOHNSTON,
''W. Ct. RAoUL,
wv. r. Cox,
Directors.
This circular letter, or what is sub
stant1ally contained, was published in
the newspapers of the day in different
parts of the state, and, probably, in
other parts of the country. There was
no thought of withholding from the
stockholders, or the public, anything
touching this fund or its disposition.
In matter of so much interest to the
stockholders and to the public, what
was done or contemplated to be done
could not have been concealed even
had there been any such desire.
There was no such desire. There was
no reason or motive for concealment.
No one having q claim on said fund
can now set forth the excuse or plea of
ignorance as to what was expected to
be done Herewith. 1t is not probable
that any one who then supposed that
he or she had any claim upon this
fund or against your company, was
uninformed, or that such an one was
ignorant of the contents of the circu-
lar letter of November -, 1895, here
inabove quoted. Certain it is that
Julius NJ. Alexander was we'll inform
ed; that he was not in ignorance. It
is, therefore, plain that his claim, now
set up, whether in his name or that of
Mr.. Farrar, was an afterthought and is
not of honest birth.
By order of the board.
Respectfully submitted,
B. A. DENMARK, President.