The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-08-30
TALK OF LEASE
CONSUMES A DAY
All Parties Interested
Meet the Governor.
WENT OVER 0FTAIl s
WENT OVER DETAILS
Who Will Get the Plum, if Any One,
Still Question Mark---The Three
Bidders and Invited Stock
holders 90 Over The
Plans.


Lease" was the thing in the air
yesterday, but while everyone felt it's
presence, it's form was still intangible
Who will control the Atlantic & North
Carolina Raildoad, even, whether the
property Will change hands at all, IS
still as much of a question as it has
been for the past several weeks, ever
since Nunc Pro Tune opened the road
to its definite consideration, in fact.
The syndicates-al except that one
which made a bid from Philadelphia,
lfter McBee and Finch and before
Cuyler had "queered the game
have put in their bids and complied
With the terms proposed by the Gov
ernor as to the proper guarantees.
The three lease proposals that are
now, as it were, qualified for consid-
Grafton are in the order in which they
were filed, are that of the Atlantic
Railroad Company, represented by III.
L. Finlayson, that of Mr.. K. ). How
land and associates. represented by
Mr.. Rowland, Hon. Theo. f. Davidson,
Mr. K. +. Foster and Mr.. f. l.. Mer-
ritt, and that of the Goldsboro, New
Bern and Morehead Railway, repre-
Anted by Mr.. w. l.. Kennedy and as
sociates.
All of the gentlemen above named
were here yesterday engaged in an all
lay conference with Governor Aycock,
rs were also Ex-Governor Jarvis, j. w.
Granger, l.. Hervey, G.. e. FOy, Sena
tor f. NJ. Simmons. James A. Bryan,
President of the A. & n c. Road, Carl
Duncan and Judge r. +. Womack.
The gentlemen last named, all of
whom are either stockholders of the
road or Representing stockholders in
terests. were invited by Governor Ay-
cock to be present and to participate
n the discussion of the various propo-
iitions of lease and to advise with the
Governor as to their respective pro-
visions and obligations.
Although it is known that each of
the several propositions were gone
over in detail and their provisions sub
jected to changes in minor details, the
confereeS were uniformly silent as to
That took place in the several meet
'ngs which We're held yesterday in the
Governors Office.
In general times. the situation is
his The Atlantic RAILROAD bid offers
! yearly rental to the State of practi-
cally per cent on an average for a
lease of fifty years, the Rowland bid
IN average rental of about per cent
FOR ninety years, and the Goldsboro,
eally the same terms as to guaranteed
.'eturn to the State as the Rowland
syndicate bid.
Of the three bids. however, that of
Mr.. Rowland is peculiar in and has
the advantage of containing the def
nite proposition to put the road in
first class shape and to expend there
on In permanent improvements the
sum of at least 100000 within four
-, -
AS 70 the guarantees of good faith
IN the performance of their contracts
n case the lease is made, the three
bidders stand alike, each depositing
100000 in North Carolina State
bonds as security. The Rowland bid,
which originally contemplated a de-
post of $4,000 in bonds and the Sc
curity of a guarantee company for an
additional $4,000 was yesterday
pany is relinquished and the deposit
made 10000 instead OF $4,000 as
At first proposed.
No one of the gentlemen interested
was talking yesterday. There was no
fight among the bidders, no criti-
cism or "mudslinging. All sides were
treating the question as a cold bust
ness proposition. There was not a
whisper of politics" in the negotia
tons or the discussion. Mr.. c. Il.
Foy of New Bern, who is n large
stakeholder. is opposed TO the lease;
The other gentlemen here may safely
be said TO favor one, although they
are clear of expressing themselves
either as favOring one or the other of
the leases in hand or of declaiming
that either OF them should be accept
ed. Despite the large number OF in
terviews printed in Sundays News
and Observer from people along the
line of the road-most of which ad-
vccated a lease of the property, Mr.
Toy stated that these expressions did
rot truly indicate the sentiment of the
people at large who live along the line
Of the road. Mr.. Foy, the extent of
whose interests in the property at
once prove his sincerity and give
weight to his opinion. declares that the
road is on the threshold of brilliant
future, and that for it to pass at this
time from State control would mean a
great ultimate loss to the people at
the expense of a temporary advance in
the price of the stock.
Governor Aycock, who was seen late
yesterday afternoon, stated that hei
had nothing to give out and that moth
ing had been decided or even tenta-
lively agreed upon at yesterdays con
ference. The Kennedy bid had been
filed, he said, an the guarantees We're
up. The day had been spent in dis
cussing with the various parties in
terested the terms of the several leases
proposed and in comforting as to va
rious foundations and additions which
weer considered advisable.
Asked for a statement of the terms
OF the several leases, the Governor
stated that he d d not at this time de-
sire to make them public, as such ac-
ton would not be fair to the parties
interested, especially since it was en-
.tirdy possible that other bids might
bY received by the directors of the
road before Thursday. when the stock
holders will meet according to call to
Consider the several propositions pro-
posed.
Messrs. D. W. Ballard. of Franklin
ton, and B. G. Beckwith, of Raleigh,
who comprise the Board of Internal
improvements, We're also present at
the meetings in the Governors office.
Although nothing definite could be
learned, it was Sin the wind" yester-