The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-03-05
NOT A STOCKHOLDER'
So It is Declared Of Finch. The Desire
of Various Parties TO Lease it Prove
that the Road is Not in the Bad
Condition Described---If so, Why
Did Finch Invest His Money? Con-
tracted for Stock to Put the Road in
the Hands of a Receiver.

March 10th to hear the application of
the owners of the Atlantic and North
Carolina Railroad to control their own
property, for that is the plainissue that
Is involved He has requested Judge
PurRell to sit with him. Most of the Off
cials and attorneys of the road are con-
fident that, when the issue is clearly
presented and the facts before the court,
the receivership will be closed and the
property turned back to the management
of its owners.
Yesterday the attorneys for the State
and the Atlantic and North Carolina Rail
roac fled their demurrer and answer
Usually court pleadings are dull reading
and not interesting TO the business man
not posted in legal phrases. But the an
swer in this case is different. 1t is a
clear and direct answer to the allegations
of Finch, showing that he had no right
to ask the appointment of a receiver in
the first instance, and that the rad is in
such good condition that various parties
wish to lease it. and that all the allega-
tions in Finch's application are either
erroneous or misleading and based upon
unsupported rumor.
Because of the far-reachiGg importance
of this matter below is printed the full
text of the demurrer and answer. The
full text of the application has already
been published The 1omulrer and an
swer are as follows:
In the Circuit Court OF the United States
for the Eastern District OF North Caro-
Ina.
Sitting in Equity in Raleigh.
*. S. Finch, i'll behalI of himself and
of all the c.hcr stockholders of the
Atlantic and i,orth Carolina Railroad
Company.
Complainant
against
The Atlantic and North Carolina Raj
read,
Defendant
Demurrer and Answer.
The demurrer and answer of the de-
fendant the Atlantic and North Carolina
Railroad Company to the bill OF COM
plant, filed in the above entitled cause.
THE DEMURRER.
This defendant. by protestation, not
confessing or acknowledging all or any of
the matters or things III the said bill
OF complaint contained to be true in such
manner and form as the same are herein
set forth and alleged, demurs TO the said
bill. And for causes OF demurrer, shows:
1. That it appears by the complain
ants own showing by the said bill, that
ne is not entitled 10 the relief prayed
By the bill against this defendant.
:. That it appears by the. complain
ant S own showing by the said bill that
he is not entitled to the relief prayed
by the bill against this defendant. for
that:
I. 1t appears from said bill that it
is brought by an alleged stoclholder in
the defendant corporation against the
corporation founded on right which
might be properly asserted by the corr
pcration, and does not contain an allega
tion that the complainant was share
holder at the time of the transaction
of which he complains, or that his share
devolved on him Evaporation OF law since
the commission of said acts, and ii does
rot appear that The suit not collusive
70 confer on Court of the United
States jurisdiction of case of which it
would not otherwise have cognizance.
t2). The bill of complaint does not
set forth with particularly the efforts
OF the complainant to secure such action
"a h, desires on the part of the managing
directors or the shareholders and the
cause of his failure to obtain action.
t3l. For that it does rot appear from
the bill Of complaint that the defendant
corporation or its, directors have been
rcarested to bring any suit cn account
of the matters and things alleged IN the
said bill of complaint and that they have
refused so to do.
THE ANSWER.
And the defendant answering the bill
OF eomDaiut fled in the above entitled
cause. says: Saving end resewng to
themselves the benefit of all exceptions
to the errors and imperfections in said
bill contained. for answer to so much
thereof as they are advised IS neces-