The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-02-19
North Carolina: A State for Sale;

To the Editor:-Under the head
Rhode Island; A State For Sale" III
the current number of McClure's
Magazine, we sec the name of AL
drch Perry & Company" captains of
most high finance" who, 1t is al
,egcd, by a. complicated process or
took transfers, leases (or 999 years.
and sales, all among themselves, but
through the medium of several under
Iylng operating and holding COM
panies. managed to develop a total
capitalization of forty millions of dol
lars out of THE Rhode Island COM
pany" with a capital of only two
| millions.
| Marsden J. Perry. Rhode Islands
first captain OF industry" is presi-
| dent of THE Rhode Island company.
But the United Gas improvement
Company of Philadelphia. owns it.
| That's good. Col. McClure's home
company.
| These. Aldrich. Perry & Co., they
! say by 1.-The masterpiece Of legisla-
/ tive treason" had passed, through
| the legislature of Rhode Island. for
themselves, a perpetual franchise
| charter -" q sort of omnibus grant
/ to lease, buy, etc. all gas, electric
light, street railways. etc, corpora
! tons in Rhode Island--an "irrepeai-
/ able, unlimited charter" TO hold" the
| public utilities of that so-called state
! We are informed that this Marsden
j. Perry. "chief captain of high IL
nance of Rhode Island, is the new
president of THE Atlantic Railroad
Company" sometimes for the pu1-
| poses of a lease, 1.-The Rowland I'M
| provement Company" Qate the "Old
Mullet,' alias THE Atlantic and North
Carolina Railroad '-built by tnis
State with the money of the people
| for their benefiD. and is seeking.
through the Secretary TO the Presi-
dent" a perpetual irrcpealable'
/ lease Of our road by an amendment
| to or of the charter--a grant 10
lease" "buy" and hold" In per
petual franchise the public utilities
of North Carolina.
If these thigh finance" charges be
| true, and they come from home
source the legislature Of North Caro-
| lima should so slow, mighty slow, Ia
extending leases or granting "oinnl-
| bus charters and perpetual fran
chises" to these captains of indus
try" and of high finance" of Rhode
Island to North Carolina public utili-
| ties lest we, too, shall soon be fof
sale.
| We suggest, with the greatest defer
ence, that every member OF the Cen
eral Assembly read "Rhode Island: a
| State For Sale" February Mcclure
Magazine, before voting to amend the
old charter of The Atlantic & North
Carolina Railroad Company, or grant
ing any charter to Aldrich, Perry q
| Co. who ever the Company may
be. to lease and to hold forever. and
! exploit that which our fathers left
| TO us TO leave unimDaired to our chill
drcn and to their children as "a price
less heritage. stop! lest we shall read
| in shame and impotent rage. within
| a decade. in the public prints. NORTH
! Caroliua: a State For Sale
| DO not, in memory of the past and
| III fear of the future. give our chit
dren's birthright forever for q mess
of pottage to those who have made
war on us for fifty years for profit
coiifiScatcd our property for gain
/ trampled upon our most sacred rights
and traditions in malice; and under
| the guise of Reconstruction" turned
! loose upon us a swarm of Tultures
| whose long, skinny claws reached into
the treasury of our future and steal
the patrimony Of the child then ull-
! horn.
These eagles of high finance" aud
these vultureS of reconstruction are
from the same nest. Shades OF our
fathers be with us, lest We foTget
They spare not their own evrie. How
| shall we escape?
Haiti Right dress! About face
| March to duty.
L. c. BECkWIIH