The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-03-12
CRAVEN COUNTY ALSO PROTESTS.

Craven county owns 1898 shares of
stock in the Atlantic and North Carolina
Railroad, of the par value of $129,300. K.
S. Finch-he of the Wireless Telegraph
and LIQUID Air speculation-claims to own
43 shares of stock in the A. and n. G..
Railroad, but if he owns it he has never
made application to have the stock trans
ferred to him on the books of the com
pany. Now who ought to be heard as to
the management of the property-Craven
county, which has held the 1903 shares
of stock for many years, or K. S. Finch
who claims to have bought 4S shares in
order to get his confederate, Capt. McBee,
a job as receiver of the property?
At the meeting of the County Commits
sioners of Craven county, held this week,
the following resolution was adopted:
Circuit Court of the United States, East
ern District of North Carolina.
tx. S. Finch on behalf of himself and all
other stockholders of the Atlantic &
North Carolina Railroad Company, VS..
The Atlantic & North Carolina Railroad
Company.
''RESOLUTION.
"It appearing to the Board of Commits
sioners of Craven county that in the
above entitled action, one K. S. Finch,
professiong to act upon behalf OF himself
and all other stockholders of the Atlantic
& North Carolina Railroad Company, has
instituted and is prosecuting proceedings
against said Company, and in said action
has applied for and obtained a Receiver
of the property and effects of said Com
pany: And whereas, the county of Crav-
en- is the owner of 1928 shares of the
capital stock of said company and de-
sires to protest against said action, and
to deny that the same is for the benefit
of the said county, but on the other hand
to aver that, the same IS greatly detrl-
mental to the interest of this county as
a stakeholder in said company and detri-
mental to the interest of said Railroad:
Now, therefore, be it
Resolved, That this county repudiates
the action of complainant Finch, in thus
embarrassing the stockholders of said
road and causing great and lasting injury
to said road and it's credit; and in further
subjecting said road to great expense in
defending said needless action; and said
county protests against the retention OF
said Receiver, and respectfully AYERS that
such retention is unnecessary but is great
ly to the disadvantage of said road ano
its stockholders. And resolved, that the
court be respectfully asked to remove
said receiver. to dismiss said action and
to tax the costs thereof against the Com
plainant and restore said property to the
officials of said road. That a copy of this
resolution be filed in the above entitled
cause, if the same be permitted by the
court to the end that this county as
stakeholder in said road may file its pro
tests to the unwarranted action of com
plainant in assuming to represent the in
terest of the stockholders of said road
when in truth and in fact, said action has
and will cause in the opinion of this
board. great and lasting injury to the
stockholders of said road, to the injury
of the credit of said road, and for the
reason that in the opinion of this Board
said road was and can be operated and
managed by the, officials thereof, much
more to the advantage of it's stockholders
than by receiver thereof"
In Wednesdays paper there appeared
resolutions of like character passed by
the county commissioners of Lenoir coun
ty. That county owns 500 shares of stock
of the par value of $4,000. We have al
ready printed the answer of the State OF
North Carolina, which owns about II ,66t
shares of stock of the par value of ST.,
266, 800. protesting against putting the
property in the hands of a receiver. W
to date no single private stakeholder has
taken sides with Finch.
Have the owners of the majority stock
no voice in the management of theil
property superior to the Liquid Air and
Wireless Telegraphy speculator who is
said to have an option on 43 shares?