The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-03-17

Address DIR. X. V. Pierce, Buffalo, n. Y.
proposition. Later OH he came in with
proposition. Mr.. Edwards had talked
OF building from Goldsboro to Sanford if
he leased, ard when McBee was with him
Edwards still taxed this.
Later Judge Shepherd came with Nc
Bee and McBee said his idea was not to
build to Sanford, but from New Bern to
Plymouth, to Washington to Plymouth
and 10 Edenton. McBee said Edward was
trying to impose on me. That he was
not authorized to build to Sanford, but
his route to Edenton He submitted a
proposition, the first On February 6. kept
it under consideration some days, con-
ferred with several gentlemen and alked it
over. ] notified other bidders and then
made public memorandum of the low
est bids l would consider. There We're
bids from the Mills and Finlayson, Nc
Bee, the Raleigh and Pamlico."
'McBee said l had set my figures too
high, and it could not be done. On the
10Th of February he submitted another
proposition, in some respects near to my
figures. This was just as l was going
to Greensboro, and on my return ! went
on Monday, the 22nd to Southern Pines.
On the 23rd, before l had given his prop
osition consideration, l received a letter
from him Withdrawing his bid, and on the
same day the bill of complaint of Finch
was filed. On the same day Col. Hlns-
dale and Finch came to see me about
some swamp lands which l told them were
sold Then Finch said that he wished
that / would lease the A. and n. G.
Railroad, said it would be best for the
private stockholders and the State.
There was some objection to the
Governors statement as McBee was not
present, but as connection had been
shown Governor Aycock continued:
Finch asked me in substance il the
private stockholders wanted to lease the
road if l would let the State proxy go
into the meeting. l said there WAS no
need TO call meeting unit l made up my
mind it was a good lease, for under tho
charter 1T was only by the assent OF the
State and the private stockholders that
a lease could be made"
Col. Hinsdale said he did not know
that was in the charter. | tod him
thought it was, but l have since satisfied
my mind that this was in bylaw that
is in force
''As Mr.. Finch was going out l asked:
How much stock have you?' and he re-
Piled: Why I've got good deal. This
was about or o'clock"
McBce's letter of withdrawal Of his bid
was next introduced and read.
On crOss-cxamlnation Governor Aycock
was asked if he recalled saying to McBee
and Finch that few private stockholders
were against the lease. He replied that
he had, that the stockholders had been
willing 10 lease at 14 per cent, and on
up as offers were made.
q. WHO offered " per cent?"
4. James Bryan, Charles Bryan, II.
l.. Finlayson.''
c. THE president of the road, his son
and the soliciting agent?'
A. Yes"
@. rs Mr. Finlayson solvent?"
A. IL don't know. l know he is not
man of large means"
Further questions were asked Governor
hycocl about parties proposing to lease.
ic told OF these, and that the latest Of
fers had come from other parties, among
these the Atlantic Railroad Company, at
an average Of / 7-10 per cent. year and
the Raleigh and Pamlico at an average
OF per cent. a year. The Atlantic for
oo years, the Raleigh and Pamico for 80
10 20 years lease. He replied in the al
flnatlve when asked if FinIayson was in
the Atlantic Railroad Company. and also
that tha Mills and Finlayson bid had
been received before the 9th. tho
dGte he had made public for receiving
final bids. He said he did not know who
was behind Mills and Finiayaon, nor be.
hind any of the bidders.
Col. Hinsdale was recalled and asked
II McBco had taken charge as receiver
He said he had under Judge Purnells
second order. issued at Raleigh in open
court.
Mr.. f. II. Busbec, summoned as wit
ness, here arose and said as he had not
been called he waited to mako state
me- 1t, and it was that he had had no
connection with the affair at all and only
Knew OF it in the papers. That on seeing
il he had tclographcd Col. Andrews if he
hal any connection with the matter, and
that Col Andrews had replied that Meth
or he nor the Southern Railway had any
thing at all to do with the matter or had
any interest in it, / was surprised that
was subpoenaed and would like TO know
Why said Mr.. Busbce
He was asked if he had not had copy
of the complaint in his pocket. Yes"
he replied but it was cut out of a news
paper.
The Attorney General said that he had
issued q subpoena for Mr. e. c. Duncan