The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-03-19
Mr.. FOY DESTROYS THE FALSE
STATEMENT.

SIHt EmENts
In its issue of March 9th, the organ of
grafters and enemies of de-
published under the name
of the Raleigh Tribune and now called
the Morning Post-was glorying because
some stock in the A. and N. C. r. r. sold
at Kinston at prices averaging $43.50, one
share selling at s4700. From a long edi
torial of Finchism and McBeeism. these
1.-The placing of the road i'm the hands
of receiver certainly has not injured its
value in the estimation of the investing
public. Before the receiver was appointed
$35 was the highest price that would be
considered for the stock, and this was
based upon the prospects, as it was
thought of the early issue of the road,
Now, however, since the appointment of
the receiver and the prospects of the
road passing into better business manage
ment are more hopeful. the stock adj
vances even beyond anything before. hav-
ing reached SAT per share at public sale
at Kinston, and an active demand devel
Oped Tor IL etSeWnefe.
LAS the Post counseled in the begin
ming there was no occasion for alarm be-
cause of the appointment of a Receiver
that we felt sure good results would fol
low. 1t seems the public is taking this
view of it. AT all events the belief now
that the receivership will end the political
management of the road. and the conf
dence that, properly managed, the prop
erty would pay, has caused very sub
stantial advance in the present value oil
the stock. Upon which all stockholders
are to be congratulated. -
What was the truth about it? This
paper denied at the time that putting the
road in the hands of a receiver was re-
sponsible for the increase in the price
of the stock. Now comes an affidavit
from the gentleman who purchased the
stock destroying the contention of the
Conspiracy Organ. 1t is as follows.
ITO Whom 1t May Concern:
This is to certify that. at the sale of
the stock of the A. and N. c.. r. K. be-
longing to the Anthony Davis estate, and
which was sold at the court house door
in Kinston on the 7th inst. ] purchased
three shares of said stock for myself and
another party, who is an official of said
road and acquainted with its financial con-
ditlon and earning capacity. | was ad-
vised as to the value of the stock by
him and influenced to pay the price
did for the stock by the belief that the
recelvership would be vacated, and the
property turned over to the State and
private stockholders
Il was authorized to bid as high as
$4,000 per share for said stock, but
bought the three shares at an average of
$43.50 per share. But for my belief that
the receivership would be vacated,
would not have made any bid at ALL
sCHAS. II. FOY.''
''Knston, N c.. March Is. 1904.
"Nerth Carolina-LenoT County:
1.-The execution of the foregoing instru-
ment was this day acknowledged before
me by C. H. Foy, the signer thereof
Witness my hand and Notarial seal
this March Is. 1904
wv. B. BROWN. N. P.''
Mr.. Foy is one of the first business men
in Eastern North Carolina. gentleman
of the highest integrity and standing.
The conspiracy has ended and the
"orgin' of grab is shown to have tried
to help work the gold brick by false
statements.
The ''yaller'' journal will now look
around for some other Job. For years il
fought the regular national Democracy
but claimed to be true to the State De
mocracy. Then it tried to foist Russell
on the State as Chief Justice, and for a
whole month now has been the mouth
piece of a coterie of conspirators embrac
ing some fellows higher up than Nc
Bee and Finch who have managed to keeT
under cover If there is a single respect
able man in the State who before this
conspiracy doubted that the Post was ar
enemy OF the State. as well as Nationa
Democracy, its attempt to blacken the
State administration has convinced him
The old disreputable organ stands ex
posed in its indecency and abandon