The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-03-09
DEGENERATED INTO A HOLD UP.

htt1ngly characterized as Ducc2neerlng
determination to compel the State
to submit to dictation by Nc
Bee & Co., under penalty of losing
all right to control it's property.
The State has $1,000, 600 worth of stock
! in the road, three counties have about
100000 and private stockholders own
nearly $1,SOO,0OO. Of all these stockhold-
| ers, only one-by name Finch whose
name does not appear on the books of
the company-asked to have the road put
into the hands of receiver. He claims
to own only forty-three shares out of
about 1870. Everybody knows that Finch
lis in "cahoot'' with McBee and his suit
was brought to put McBee in as receiver.
The appointment of McBee under such
circumstances has been condemned by
everybody except the railroad organs.
Yesterday it was announced that Judge
Simonton, who had agreed to hear the
matter in Raleigh on the tenth of March,
was too unwell to come to Raleigh until
March 18th. In the issue of the Morn
ing Post, which published Judge Purnell's
order twenty-four hours ahead of any
other paper by some ''hocus-pocus' and
has been the mouth piece of the McBee
combine, yesterday morning appeared an
inspired editorial which in effect was
direct message to the Governor: IF you
will lease the A. and N. c. R. R., the re-
Ownership will be annulled; if not, the
State shall have no voice in the control
of it's property That inspired message,
as official ande direct as if it had come
from the combine, is the same thing as
the highwayman uses when he stops a
man on the highway, grabs his property,
and says: STAND and deliver or l will
sanG-bag you" The message to the Gov
ernor is contained in two places on the
editorial page. The leading inspired
editorial endorses in full the whole Nc
Bee scheme of extension, and throws cold
water on any western extension. After
| urging a lease on the lines proposed by
McBee, the organ adds: "AND THIS
WOULD END THE RECEIvERsHIP IN
A JIFFY."
| The second message is contained in the
editorial announcing the delay in Judge
Simonton's coming. We quote: $50 let the
intervening days be given to the gather
| ing of all the facts, or THE AGREE
MENT ON TERMS OF LEASE"
We have no means of knowing how the
Governor received these two communica-
tlons. He must see that both are from
| the same source and convey the clear
meaning that if he is double-quick in leas-
ing to McBee & Co., he can have a show
of authority and agreement on terms of
lease which would end the receivership
in jiffy." Otherwise-well the intimation
is that the owners of the property have
no right or voice in it's future manage
ment.
| Ii the Governor has any just conception
Of the position of Chief Magistrate OF
| this great State he will scorn to treat
with men who have sought to degrade the
power of the State, to vest in the
alleged owner of forty-three shares full
control of property belonging to 1870
shareholders, to cast odium upon his ad
! into leasing the road to men whose policy
is ''rule or ruin" If the Governor should
even consider propositions looking to
lease, pending the settlement of the
greater question, HI would lose the conf
dence and respect of the people of the
State who elevated him to the great office
for such a time as this. The State of
North Carolina, as the owner of two
thirds of the stock in the A. and N. G. r.
r.. has right through it's Governor, act
ing with the county and private stockhold
ere, to control that property, or it has no
such right. Before the unwarranted ap-
pointment of McBee as receiver, without
a hearing, the Governor was giving con-
sideration to lease propositions. The
minute that the question of the right of
owners of property to control was raised
by Finch, the Governor, acting for the
State, had no right to consider any lease
proposition, with view to accepting or
rejecting, until the higher question shall
be settled If Finchs application stands,
the owners of the A. and N. G. r. R..
| have not as much to do with the prop
erty as a speculative seller of Wireless
Telegraphy and Liquid Air in New York,
who has bought few shares of stock in
order to put the solvent company into
the hands of a receiver-and, that, too. to
put it in the hands of bidder who is his
! friend and hacker. Men who would wreck
the road to get it would destroy its bust
ness if it suited their purpose.
There is not a public or private cor
poration in the State that is not deeply
interested in the only real question be-
fore Judge Simonton, to-wit: Can an al
| ell, M