The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-05-29
Mr.. Beckwith Dissents
From Certain ConcIu-
sions of Special Com
mittee.
MATTERS OF OPINIONS
About Which Business Men May and
Do Disagree---Property Has Been
Well Managed by Mr..
Bryan.

the Board of Internal Improvement,
who presided at the taking of the evil
dence taken by the special committee
named by Governor Aycock to assist
the Board of Internal Improvements i'll
the investigation of the \. and n. c..
Il. r., yesterday filed non-concurring
report as to certain findings.
Mr.. Beckwith's report to the Gov
ernor is as follows:
To the Governor.
l have the honor to report: That the
Committee of Investigation appointed
by your EXcellency to assist the Board
of Internal improvements in thor
ough investigation of the affairs and
the management of the Atlantic and
North Carolina Railroad, in their very
exhaustive and critical report, say: 1T
is clear to us, for reasons whicn l,abe
heretofore been given, that the best
and most economical management or
the property cannot be attained under
State control"
This is their final conclusion # the
whole matter. 3 In this conclusion
cannot concur. / do not think that
the several findings of the committee,
set out in their critical, and. as a
whole, admirable report, or the cyl
dence taken in the course of the eX-
animation, justify that conclusion.
l must conclude that the road has
been for the last four years as well
managed under State control as any
like property under control of cor
poration in the management of which
the State has no direction or voice.
And this conclusion, contrary to the
above quoted one of the committee,
is based upon the volumnious evidence
taken before the Investigating Com
mittee and the Board of Internal I'M
provementS and upon information
and knowledge as to the management
of the road and of it's physical and
financial condition obtained by me in
six annual inspections of the affairs
of the road as a Commissioner of In
ternal improvements. AS Your EX-
cellency knows | was a member of
the Board of Internal Improvements,
which board has charge of the States
interest in this road for two years
during Governor Carr's administra-
ton and was re-commissioned in
March, 1901.
The Investigating Committee also
say: ''It is equally clear that it
(meaning the A. and n. G. r. R.) is
a va1uable property and that its con-
dition and earning capacity have
greatly improved during the last four
years."
In this conclusion of the committee
/ heartily concur, as it is not an opin-
ion conclusion simply, but one based
upon the facts as they appear from
a close personal inspection of the
property and the evidence taken be-
fore the Committee and Board of In
ternal improvements.
The truth is, the road was never
in so good condition as now,-that is
conceded by friends and foes of the
management. Photographs of the
buildings and shops, taken at the be-
ginning of Mr.. Bryan's presidency Of
the road. are in evidence, showing the
tumbled down condition of the shops
at New Bern and the decaying bull l.
ings along the line of the road, and
the generally delapidated condition ef
the property at that time.
It's business has almost doubled
during the present administration It's
stock is now worth $4,000 or more L or
share, although from time to time
during the last twenty years it sold
from two dollars per share up to
twenty-five dollars, but never beyond
twenty-five dollars until recently.
| doubt if its stock can now be had
for less than Seventy-fiye dollars Der
share. if at that price. And why is
this so 1? Do men of known business
capacity seek to invest their money in
the stocks of badly managed bank
is it so? Verify because those who
have money to invest in stocks and
bonds know a good thing when they
see it. and they recognize in this prop
ertv something worthy to be sought
after. Who can doubt that is why SO
many are al this time begging 20 lease
the road Offering as high as per cert
annual rental on the par value of the
shares of stock. They see clearly that
. the property is very valuable, and that
|khe future holds in store rich har-
kst of profits to its owners or lessees.
Aeompany is now building road
New Bern through Pamlieo
va distance of fifty miles. into
country as any in North
"a. and this new road is to use
kninal facilities of the Atlantic
th Carolina railroad, and will
AlabIe feeder. The proposed
13&2kf terway, when completed by
States government, will
adiately by the wharf of the
hid North Carolina railroad,
head City The section
which the road runs is the
Ecking district to be found