The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1903-09-29
THE QUESTION OF LEASE
pcasidgnt Bryan Spoke in its Favor
and J. ". Granger Announced
Gov. Aycock's Opposition
Meeting TO Consider
Lease Dec. 10.

Lease Dec. IL.
-.e.aI he News and Observer
-..- Bern. Sept. 24-There was excite
u.a- and deep interest at the annual meet
. the stockholders of the Atlantic
r North Carolina Railroad today, when
4...,-.. Wood, OF Lenoir, representing
.,..1 county, himself and also Mrs.
rI.raace =. Tucker, of Raleigh, the
largest private stockholders in the road,
.rrrng II surprise on the meeting by in
.mfl.tng IL resolution calling for another
maa..-r Thursday, December 10th, when
.4a lryate stockholders IN conjunction
with The representatives of the States in
.sr,s are 10 consider propositions to
lusa the road. and it was declared rs the
s-u.e oil the private stockholders meeting
that the road should be leased.
This action was not in official meeting
a, the State proxy, J.. w. Granger with
dew. thereby breaking up the regular
m4ar-ng. There was Il clash over an init
. r~arIcn III President Bry3E's report that
tr mort5aged Indebtedness of the road
should be increased and a resolution OF
nma~ey Wood was adopted declaring
that uo additional m~0rtgaged indebted
mas. should be created Ior any purpose
whatever. Afterwards the report OF Presl-
dent Bryan was adopted.
After the States proxy, MI. j. w.
Granger. retired. Chairman Robinson at
tmgcci to reverse the famous ruling that
There can De no meeting without the
State proxy" saying that lie had excused
At. Granger for a few minutes, but this
.- mn. qrrpDTaI nd tho ITrppuI9r meet
ing proceeded without organization to
ls3ut the resolution which expressed the
sentiment of the majority of private
Stock. After the private stockholders
completed their argument the States
ugEv returned and the regular session
ra. resumed
Jos. E. Robinson, of Go!dsboro, presided
and Goo. Green and ]. b. Royal acted as
secretaries Of the meeting.
". ". Mills, of Raleigh, and H. L. Fin
Tyson. OF GoIdsboro, were present. and
tough they made no proposition to lease
The road. the resolution referred to was
iopted and it was stated IN the meet
ing that the resolution was not intended
IAN invitation or advertisement that the
uad would be leased to the corporation
Offering the highest rental. 1t is ascer-
tanned that a clause in the proposed lease
viii uulhfy the lease ii the lessees should
turn it over in any way either to the
Southern Railway or the Atlantic Coast
Line.
Nr. c. T. Foy offered a resolution IN
effect that the road would not be leased
ir less than four per cent, but no action
was taken on this. J. w. Granger an
bounced Governor Aycocks decision
against the lease as already proposed and
President James A. Bryan spoke IN favor
" leasing the road. In his report Presl-
dent Bryan shows that the road made four
per cent. during the past year, but he de-
Dalos himself poWerless as the Coast Line
controls the situation. He says. how
Ever, that the Coast Line is friendly.
The opinion was expressed that the Coast
Line would not adopt a policy to injure
the States property. There is great IN
teres- in the effect of today's meeting on
value ot stock.
The resolution introduced by Mr.. Wood,
81 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 prl-
waite stock Of the Atlantic and North
Carolina Railroad Company, that 1t IS the
best interest Of the road, the State and
the private stockholders that said road be
leased. Be 1T further resolved, That when
'AS meeting adjourns it adjourns to meet
again on Thursday, December 10th, 1903,
III New Bern, to further consider the
above recommendation in conjunction
win the representations of the States IN
lefest in SAID road.
This resolution was carried by sos against
l2.
After the stockholders meeting the new
"Iee.9Gs reelected President Bryan, Sec
-griF and Treasurer Manly and Counsc
w. Munroe and recommended the con
u"1"lion of all others at the pleasure OF
"a. president. The directors granted the
I7' OIL right of way over it's porperty tc
."e famlLco. Oriental and Western Rail
way .' order that thev may enter the city
"7 a'ter roa,, is being pushed and lum
-' "i3 be delivered here next week fol
'l+ mile tre>tle across Neuse River
h stated that Mr.. Wood, when h'
.''3d Lemon county for DR.. Tull, chair
. the board Of commissioners hat
-' consulted the latter as to the county,
,i7'+4a I'LL tho matter, and it is thought
'04h}y would not have favored TIN
'ol-''. The directors and finance
-'s~ee are the same as heretofore.