The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1905-02-12
mr.. BARR''S REPLY !
TQs,,k|l|R Williams
U,ontinuel F'rom First Page.)

(Continucp FROM tlTSt f,u6e'
placirlg, q larger amount Of six per cent.
bond So i'rhe arrangement obviously Il was
for Ia advantage OF both roads. We did
not charge or receive ~ dollar OF cons
mission. My firm and associates stu own.
the balance of Sayannahsnnd statesborD
RAILROAD stock not. given toSthe. ,seaboard
I Air Line Railway AZ #
III IN reply,$I beg to- say that MI Will
liams.s statement here wen does not
agree with the terrns3G OF " the contract
dated 4 August 2, 1903, N tho full text SIX Of
which is given below, In order to prevent
MISUNDERSTANDING al q smisconstructions:
Memorandum OF agreement between
JohnI,, Williams and Sons, of Richmond,
Va, and j. William Middendorf and COM
panS Of Baltimore M d.,t parties of tho.
first part; the SeaDoard Air Line Rail-
way [, corporation OF tho States Of Vir-
GINA and North Carolina partySo Of tho
second part, and&$the Savannah and
statesboro Railway Company, u corpora
ton Of the State OF Georgia, party of
the third part 5$s$ ~ rs 81 3
NJ w hereas the parties Of the first part
are the joint owners Of eighteen hundred
and ninety-seven5 (1S9D shares of the cap-
tal stock OF the III Savannah and States
boro Railway Company out Of q total
issue Of two thousand (2,OOO shares, and
also the owners Of one hundred "a nd SIX
ty thousand dollars ($1D0.00p) of the first
mortgage five percent. Is per cent? fifty
year gold bonds Of said Savannah and
Statcsboro Railway Company of an nl-
thorized issue OF five hundred thousand
dollars $500, COO ofBwhlcllt one hundred and
sixty thousand dollars (slfO.OoO) were Is
sued to retire anBold Issue o { two hun
drcd thousand dollars ($2OO,0OO) six per
cent. e per cent? bonds and Twenty-Five
thousand dollars (s25, 900 were issued and
placed In the treasury Of the company
for corporate purposes. tho residue re-
manning In the hands of the trustee to
be Issued and certified at the rate of
seven thousand dollars (s7, ooo) per mile
for the construction OF OK tensions and
branches Of said railway; and
Whereas, the Savannah and Statcsboro
hallway Company owns and operates a
line Of railway from stntesboro, IN Bull
|loch county. Ga, to Cuyer, in Bryan
county. Ga, where IT. connects with the
Seaboard Air Limo Railway, md
Whereas, the said Savannah and States
boro Raj way Is a valuable feeder to the
said scaboard Airy Line Railway. ma It
Is desirable that the latter company should
put Itself In a position whereby 1t can.
IL necessary, control the said Savannah
and Stateshoro Railway, and
Whereas, the said Savannah and States
1870 'N''"uS - Wis w
car equipment and depends largely upon
the Seaboarl Air Line Railway to fur
nlsh necessary freight cars 10 handle its
business; and Il,
Whereas 1t Is deemed essential thattthe
Savannah and StntesborOG Railway Com,
pany, In order to Increase its business,
should extend its line northwaM from
Statesborod y DISTANCE some fifteen u5)l
or twenty (2D mles;hnnd n
Whereas. the said Savannah 8; States
| Ioro alWay COmpanyeis without funds
or credit wlcrcbyIt can make such pro-
posed extension; ii5 6i
Now then In consideration Of the prom
ses and Of The benefits and advantages
others flowing, It Is. hereby mutually
agreed and contracted as follows;
/. rha parties Of the first part agree
that they Will transfer and deposit WIN
Il trust company to- be selected by the
seaboard Air Line Railway 4 ftytpne PSF
cent, al pcr cent? Of the entl Ire capltml
stock Of the savannah d 6tutcsboro Rnll-
| way Company and they further agree
that the seaboard Airgidne Railway shall
| have tho right to purchase the said st0GE
! at and for the price Of ten cents Q0c0
| per share at any time during the life OF
sa. bonds ana this without further notice
| To the parties of first part
9, In consideration OF Il he ~ mt 70 pllr.
| chase the said stock as ahope SCI fpItl',
| the Seuboard Air Line Railway agrees &
(a) THAI 1t. will gllaril tcs /, J ne pay.
ment Of lothfthe principal ana interest n 81
4 Inc bonds OF the sitv;s1pah M ~ lesp '
tsailwag eemsal;; ::ssFsd s;stil ss5pe ~ pa