The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-03-26
E.C.DUNCAN HAD
THE FIRST CALL
He Turned Down McBees Proposition to Buy
$1,700 of A. & N. C. Stock Shares
for $4,000.

this matter since that time? with Mr..
Finch or Col. Hinsdale?"
II don't know that l have / don't re-
call any conversation that | have had
with them; not about the payment of this
money"
Ibid you have any conversation in any
way relating to this matter with Col.
Hinsdale''
II did not
Col Hinsdale was called next and tes-
titled that the money was left for hin
(Col. Hinsdale) by Capt. Day, just be-
fore he Capt. Day. left for Halifax
county.
From whom did you receive the mon
ey?" asked Gen. Gilmer.
MY impression is that he sent the
check around to my house. The money
was in the shape of a cashiers ch>
signed by a Mr.. Briggs, as President Z,
bank in Greenville, S. G. 1t was made
payable to me as John w. Hinsdale, at
torney.'
What became of that check?"
Il endorsed it and deposited it in the
Citizens National Bank
"By whom was it drawn out of the
bank?'
by myself on the day that 1t was paid
to Mr.. Smith"
| ''Who instructed you to pay this money
to h:m?'
| Il got my instructions from Capt Nc
Bee. He said the money would be sent
to my order and to pay it to Mr.. Smith,
| as credit upon the note that Mr.. Finch
had given"
4 ssDiJ bo toll ,,o,- Who 1,,,,
| the money in New York;"
| HE did not and 1 do not know, and /
have no idea as to who it was.'
! Col. Hinsdale first said suspicion y
and then changed it to ''idea'1
do you know whether that money was
| furnished by Mr.. Finch or not?"
| II do not" .S a
Eg'Don't you know that he did not fur
nish it?"
II did not know that it was not fur
nished by him. That is the impression
on my mind, but 1 do not know that /
| should state it as evidence"
Colonel, was there any letter accom-
panying this check?"
| There was"
| From whom?''
| From Mr.. Briggs. He is the president
OF bank of Greenville, S. c. l have not
that lette rwith me. The letter, as I say,
| accompanied the check, and when Capt
| Day returned he asked me for the letter,
and / returned it to him."
| Were there any directions of any kind
In the letter that YOU now reeall?"
| No, sir When | received it, however,
] knew from what Capt. BcBee had said
| before what it was for, and 1 had his in
structions to pay it over to Mr. Smith. "
| DO you know anything about the
soivency of Mr.. Finch?"
/. Only from himself. understood he
was worth about $500
| This concluded Gen. Gilmer's examina-
tic!l of Col. Elinsdale, and then MI
Maxwell asked Col. Hinsdale about the
sources OF the bill OF complaint. Col
HiLsdale in the course of his reply said
| that the question OF the ownership OF
| the stock, acquired as it had been, was
| carefully considered by Capt. Day and
himself, and they had come to the con
clusion that Mr.. Finch was the owner
OF the stock, just as he would he the
owner of piece OF land which he
bought by giving mortgage upon it,
He said further that the authorities
had been consulted as to the necessity
OF recording the transfer OF stock before
the ownership was legal The weight of
authority had been that it was not nee
Iessary to so record a transfer of stock
Col. Hinsdale took up paragraph alter
paragraph of the complaint, and at some
length gave the sources of each.
AS to that part of the complaint about
the withdrawal of the States proxy from
the stockholders meeting, Col. Hinsdale
Icn hot H. r. x1
informed that that was a meeting of the
private stockholders from which the
lState's proxy had right to withdraw
that part of the bill would have beer
dawn differently
When Col. Hinsdalc came to that sec
ton in which it is stated that the com
plainant had no intention of injuring the
IToad, he said:
Il know that the real purpose of this
proceeding was to bring about lease
of the road That was the expressed in
tertion of both Capt. McBee and Mr.
Finch, who were present"
Further in this connection Col. Hins
dale said: 1.-The receivership of the roaC
was subsidiary matter. the prime OBJ
ccs being to secure a lease OF the road.
II do not think said he, that it was
the purpose of either Capt. McBee ol
Mr.. Finch to depreciate the value of the
A. and ~ c. Railroad, or to injure any
individual OF corporation; nothing was
said looking in a remote degree to thai
end"
Col. Hinsdale dwelt much upon Presi
dent Bryan's report as showing the bad
condition of the road I'D the advan
ltages to tbe derived from the appoint
ment of receiver. "The idea." he con
tined, ''of the appointment OF a temporary
receiver and an order to show cause, was
not considered until near the close Of
lths conferences" Col. Hinsdale said thai