The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1904-05-06
sna to the ereat injury Of the stock

O40CxS
fourteenth. ID That your orator Is
informed and believes and SO alleges,
that the stockholders other than the
state OF North Carolina were almost
unanimous in their desire that SONS
favorable proposition of lease should be
accepted.
CD That in the month of September,
1903, at a meeting OF the stockholders
duly assembled, a resolution was intro
duced by Dempsey Wood. Esq, as fol-
lows:
B 1T resolved. by the private stock
holders in annual meeting assembled,
that 1t Is the sense OF the stockholders
holding and controlling the private
stock Of the Atlantic and North Caro-
n Railroad Company, tina 1t Is 20
the best interest of the road, the state
n the private stockholders, that said
road be leased"
B it further resolved, tina when
this meeting adjourn, IL adjourn to
meet on Thursday, December 10. 1905.
at New Bern, to further consider the
above recommendations in conjunction
with n representatives of the states
interest in said road"
u. w. Granger, state proxy. an
ounce that inaSmuch as the resoIu-
| ton is one which is inclusively di-
| rected to and expression of opinion by
ti$ pa liz Al Z :
| pending discussion and action thereon,
and accordingly retires from the meet
| ing"
The resolution after some discussion
is put upon it's passage and adopted
by a sock vote of S05 to 1872"
j. w. Granger, state proxy, re-en-
ters after the announcement Of the re-
suit of the vote on the resolution by
the chairman"
Fifteenth. That your orator is in
formed and believes and SO alleges that
the states proxy was instructed and
directed by the governor of the state
of North Carolina not to attend the ad-
journed meeting of the stockholders
which was to convene on the 10th day
of December. 1903, and that said fact
became generally and publicly known
to the stockholders and other citizens
of the state of North Carolina, and
that your orator is informed and be
lieves and So alleges in consequent of
the knowledge of this fact, nc meeting
Of stockholders Of said corporation was
held On said date.
Seventeenth. That your orator is in
formed and believes and so alleges, that
the governor of North Carolina testified
under oath in a hearing before a judi
cial officer that if a meeting should
NC l. ~ SOllSlueI TIE QucSllOU VI
leasing the property and voting upon
that question, he would direct the
states proxy not to attend the meeting
and vote upon the same or take any
action unless the proposition of lease
should be first submitted to and ap-
proved by him. Otherwise thai the
state proxy woul not attend and there
would be no quorum and no meeting.
That without the presence of the
states proxy, no stockholders meeting
can be held for the transaction of the
legitimate business of the said corpor-
alton and that his action in apsenting
himself from the stockholders meet
ing was arbitrary, destructive of the
right of private stockholders and
amounts to a usurpation of power to
prevent the stockholders Of the de-
PENDANT corporation from leasing their
property or otherwise protecting it.
(2) That a hotel has beer purchased
in Morehead City at a cost of forty-two
thousand eight n and forty
eight and 42-100 dollars (42, S4S.42). as
appears from the reports of the auditor
and treasurer for September, 1903.
That the said hotel, with it's bar n
billiard rooms, was conducted during
the year 1903 at a loss Of nearly ten
thousand dollars ($1O, G00), although the
ICpOl - VI liS III VI Liz Sdlu Sol-
poration do not exhibit these expendi-
lures except under general items.
Twenty-fourth. That you orator is
informed and believes the Int
Hotel, purchased and run by the man
ayers of the defendant corporation an1
al. the expense of the defendant corpor-
aston, was deprived of it's natural re-
sources by reason of the large number
of the friends Of the officers and others
connected with the anageman Of the
defendant corporation who were enter
tanned there as guests at the expense
of the corporation as will appear in the
affdavits of J. T. Turner and Mary
Baker, manager and cashier of the sail
hotel, copies of which are hereto at
tached and made a part Of this bill. .
That a considerable amount OF the
funds CT the defendant corporation has
been paid out in rebates, in violation
of law and to the detriment Of your
| orator and the other stockholders.