The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-09-25
Will be Considered on De-
cember the Tenth.
RESOLUTION BY D. WOOD
No Additional MOrtgaged indebtedness to be
Created for Any Purpose Whatever---Re-
election Of the Old 0fficers---
ident Bryan's Report.
(special to News and observer.)

Especial to News and Observer)
New Bern, N. c., Sept 24.-There was
excitement and deep interest at the meet
ing of the stockholders of the Atlantic
and North Carolina Railroad today, when
Dempsey Wood, of Lenoir, representing
LenoiI county, himself and also Mrs.
Florence p, Tucker, of Raleigh, the
largest private stockholders in the road,
sprung a surprise on the meeting by in
PRODUCING a resolution calling for another
meeting Thursday, December 10th, when
the private stockholders in conjunction
with the representatives of the States in
terest are to consider propositions to
lease the road, and it was declared as the
sense of the private stockholders meeting
that the road should be leased.
This action was not in official meeting
as the State proxy, ]. w. Granger with
drew, thereby breaking up the meeting.
There was a clash over an intimation in
President Bryan's report that the mort
gagged indebtedness of the road should be
increased and a resolution of Dempsey
Wood was adopted declaring that no ad-
ditional mortgaged Indebtedness should be
created for any purpose whatever. After
wards the report of President Bryan was
adopted
Jas. E. Robinson, of Goldsboro, presided
and Geo Green and J. B. Royal acted as
secretaries of the meeting.
w. w. Mills, of Raleigh, and H. L. Fin
layson, of Goldsboro, were present, and
though they made no proposition to lease
the road, the resolution referred to was
adopted and it was stated in the meet
ing that the resolution was not intended
as an invitation or advertisement that the
road would be leased to the corporation
offering the highest rental. 1t is ascer-
tanned that clause in the proposed lease
will nullify the lease if the lessees should
turn it over in any way either to the
Southern Railway or the Atlantic Coast
Line.
Mr.. c. E. F'oy offered a resolution in
effect that the road would not be leased
for less than four per cent, but no action
was taken on this J. w. Granger an
nounced Governor Aycock's decision
against the lease as already proposed and
President James A. Bryan spoke in favor
dent Bryan shows that the road made four
per cent. during the past year, but he de-
clares himself powerless as the Coast Line
controls the situation.
The opinion was expressed that the Coast
Line would not adopt a policy to injure
the tSate's property There is great in
terest in the effect of today's meeting on
value of stock.
The resolution introduced by Mr.. Wood,
of Lenoir county, was: Be it resolved,
by the stockholders in annual meeting as
sembled, that it is the sense of the stock
holders holding and controlling the pri
vate stock of the Atlantic and North
Carolina Railroad Company, that it is the
best interest of the road, the State and
the private stockholders that said road be
leased Be it further resolved, That when
this meeting adjourns it adjourns to meet
again on Thursday December 10th, 19O3
at New Bern, to further consider the
above recommendation in conjunction
with the representations of the States in
terest in said road.
This resolution was cirried by sos against
1872.
After the stockholders meeting the new
directors reelected President Bryan, Sec
retary and Treasurer Manly and Counsel
w. c. Munroe and recommended the con-
tinuation of all others at the pleasure of
the president. The directors granted the
use of right of way over its porperty to
the Pamlico. Oriental and Western Rail
way in order that they may enter the city.
This latter roaG is being pushed and lum-
Der will be delivered here next week for
the one mile trestle across Neuse River
1t is stated that Mr. Wood, when he
voted Lenoir county for DR.. Tull, chair
man of the board of commissioners, had
not consulted the latter as to the county's
position in the matter and it is thought
the county would not have favored the
resolution. The directors and finance
committee are same as heretofore.