The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1904-08-09
THAT RAILROAD LEASE. AGAIN.

Those of the state which
opposed an investigation of the affairs
Of the Atlantic and North Carolina
railroad and which wished to keen its
management IN the hands of the state
are pretending to think hat the re-
cent order by Judge Purnell is a
breakdown from his position in aD-
pointing Messrs. Meares and McBee
receivers of the property.
This order of July 9th does not
in the least change the former status
of the railroad company. Any candid
person who will look into the matter
will admit this. Governor Aycock
knows that at any time pending this
receivership he could. if he so chose.
have appeared in sthe federal court
and presented a proposition for a
lease of the property and that if The
court thought it advantageous to the
stockholders the LEASH would nave.
been assented to and The receivership
order rescinded. Judge Pur1eH made
in substance such announcement at
the time he appointed the receivers.
4CoaJ "oS IloI hCSCNcOiS
such announcement to have been
made at that time or for the addi-
tional order of July 9th to have been
made. to establish III right on the
part of the state authorities in con-
troll of the road. Ia would have been.
without such announcement or sucn
subsequent order. a matter of right to
present to the court such contract of
lease and ask that such lease be as
scented to and that the receivership be
annulled. There is nothing in the
original order preventing h stock
holders agreeing to a contract of
lease subject to The approval of the
court. OF course, the restraining Or
der would prevent amy Such contract
being carried into effect and the
status of the property changed with
out the consent of the court. and such
condition exists now under the sup
Elemental order. for under it's terms
such contract of lease must be pre-
scented to the court and a motion made
to dismiss the case. for the Judge eX-
pressly says in this order that "in the
event a lease is executed by the
SlOChltoluSlS LII VI lHO
Atlantic and North Carolina railroad.
and the same is presented to this
court. the court will consider it upon
a motion to dismiss The bill. vacate
the Injunction. which is continued,
and discharge the receivers"
When the receivership was first
established Governor Aycock declar-
ed. so he was reported. that he would
not lease the Dad 50 Ions ais he had
to do so by the consent and approval
Of the federal court. The governor
is now reported as DECLARING that he
will take up the cas- matter at
once.
Instead of there being a back-down
by Judge Purnell, it looks like the
! governor has taken the back track.
Under the first order the governor
| and stockholders had exactly the same
rights they now nave under the sec
ond. and they have no greater now
than before the supplemental order
was issued.
There is another inaccurate state
ment these papers who have been cry
ing conspiracy in this case are in the
habit Of making. That is that JUS
tice Fuller dismissed the ~receivership.
| He did nothing of the kind. He SIM
ply stayed the carrying into effect of
the order of Judge Purnell until the
case could be heard on appeal in the
circuit court of appeals.
There is n good thing this re-
ownership agitation has done. 1t has
drawn public attention tt the affairs
of this road to such an extent that
the state and private stockholders
will receive greater benefit from amy
lease which may be made in the fu-
ture than hey would have gotten
from a lease made some time ago and
before the receivership was agitated.
There is no danger now Of the prop
erty being leased at any such rate as
n and a half per cent. which. We
have been reliably informed. was al
one time contemplated and came near
being carried out.
We ask The News and Observer II
il cannot give the public some facts
about a plan to lease the Dad at such a
small entail to one of the latters Off
Gals md what part the editor of thai
and another prominent citizen
took. in the interest of the state and
Of the private stockholders. in putting
a stop to the scheme?