The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-03-11
HOW TO GET "THE FACTS.

the appointment of a receiver of the A. &
N. c. r. r., without notice to it's owners,
on the ground that it affords time Ito the
gathering of all the facts about the man
agement of that read. If all that Mr..
Finch wanted was the ''facts," he could
New Bern and demanding 'the facts. y
Stockholders have that right. If the of
ficers had denied him the right to 1.-The
facts, he could have called upon the di-
rectors for "the facts" and he would not
be justified in throwing the property into
the hands of receiver until he had ex-
hausted every regular channel. AS mat
ter of fact, Mr.. Finch made no request for
"the facts If he owns a share of stock
he bought it in order to bring his suit,
didn't want ''the facts" and never tried
to obtain them.
The Post and the other railroad organs
that stand by the unwarranted putting of
the railroad into the hands of a receiver.
proceed upon the theory that the only way
to obtain ''the facts is to put hostile re-
ceiver, who is trying to obtain possession
of the property in charge of it-wreck it
to find ''the facts" Let us suppose that
some person other than Cigarette Trust or
Southern Railway folks has obtained a
share of stock in the company that owns
the Morning Post. Let us suppose that
stakeholder to object to the Posts being
run openly and daily in the interest of
every trust, monopoly and CRATER that
has the stuff" Would he have a right
to go to Judge Purnell as his first step
and get some man appointed as receiver
who had previously been trying to get
control of the Post and convert it into a
decent and honest and unsubsidized jour-
nal? No His first legal step would be
to go to the representatives of the South
ern Railway, who own the majority of
the paper, and representatives of the
Cigarette Trust, who control its policy as
to trusts and tobacco, and say: See here,
1 own some stock in the Morning Post.
1t isn't run right 1t makes its turbulence
to the Tobacco Trust and the Southern
Railway too Open l want it run so as to
fool the people better-make them think
it can say one word not inspired by mo-
nopoly. 1t would then get paying sub
scribers instead of being forced to give
away the paper. 1t wouldn't then look
like combination of cigarette, whis-
key bottle and a rotten cross-tie. 1 de-
mand that the policy of the paper be
changed as a business venture, and 1 have
a right to know all ''the facts which
makes the paper smell like trust tobacco
and run off the track because of its rotten
cross-tes."
Judge Purnell would require the appli-
can't for a receiver to show that he had
made such demand before he would APP
point Col John r. Webster, for example,
or some other antitrust man, receiver OF
the property Why? Because the law
plainly requires it. Rule No. 81 of the
Equity Rules, declares that minority
stakeholder must set forth in an applica
ticn for receivership with Particularly
the efforts of the plaintiff to secure such
action as he desires on the part of the
managing directors or trustees, and, it
necessary of the shareholders, and the
cause of his failure to obtain such ac-
.:o:.'
My: my! what lot of stuff an
antitrust and anti-monopoly receiver
would find in the print-shop of the South
ern Railway and Cigarette organ. 1t will
be remembered that when the Raleigh
Tribune, the predecessor of the Post,
was sold at auction. evidence was found
proving that the Southern Railway folks
and the Cigarette Trust were behind it,
lust as they are behind the Post, the
only difference being that then it claimed
to be Republican because the Republican
marty was in power while now it claims
to be Democratic while it is Republican
all the time when it is safe to be so! IL
would be a great outrage, however, to
tn, Southern Railway and the Cigarette
trust. even though their paper is an enemy
to all good, to take their property away
from them without notice and turn II
over to an opponent of trusts and rail-
read domination. Property rights are too
sacred to ignore them even to get tine
facts" for the benefit of enemies or inter
ested parties or even the public.
CHANGE IN PRICES.