The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1905-02-04
forced. Having obtained a lease on


the North Carolina railroad nobody
or parties on the inside" of the
Southern clique. The programme was
for these parties to buy the road, pay
ing about s7,500,000 for it, stock it at
SIS zoo. 900 and put in their pockets
$T.500.0O0 to the good" Enough
money is now being earned on the
North Carolina railroad to enable the
lessees to pay the owners seven per
cent as rental. and give nearly seven
teen per cent to the Southern Rail-
way without the investment of dol
lar. The actual earnings Of the North
Carolina railroad during the past year
aggregated $95S,664. Deduct the rem
664 net profits. 1t is thus seen that
if stocked at SIT, 100000 the earnings
would give n very neat dividend 1t
may be that the men behind the
scheme abandoned it when the full ex-
posture of it was made In these col
umns some years ago. But that
scheme had been formulated and Will
bob UP again if ever the Southern
Railway crowd then back of 1t thinks
Ii can put it through. They wish to
own the North Carolina Railroad and
to stock it at double it's present cash
value. That's "the milk in the cocoa
nut"
Mr.. Bushels denial Of the above
facts is worth this and. this only:
That he knew nothing Of such a
scheme. His disclaimer will be ac-
cepted. But the Southern Railway
crowd higher up has done many
things of which Mr.. Busbce knows
nothing. He is not in the inner circle
when plans are maturing. 1t is only
when the big-bugs in London and
New York have decided upon the ac-
ton they have resolved to take that
they notify Nh. Busbee II they
wish him to give his counsel and as
sistance. Therefore, if Mr.. Busbce
thinks he can broadly deny that amy
person or corporation connected Win
the Southern Railway directly or IN
directly" ever had the purpose above
outlined he is supposing he is Big
ger man in the system than he Is
There are more gigantic schemes con-
ceived and executed by men directly
and indirectly" connected with the
Southern Railway than Mr.. Busbee
has ever dreamed Of Therefore, his
denial Gin all capacities Will be ac-
cepted only for himself.
Mr.. Busbee is mistaken in thinking
The News and Observer has ever
sought to "injuriously affect his prac-
tice" This paper has criticized Mr..
Rusbee upon occasion with reference
to public matters where his connec-
ton warranted criticism, but this pa
per would not be guilty Of the little
ness of trying to take business away
from any man or work him injury.
With reference to the closing para
graph of Mr.. Busbee's letter. this pa
per repeats that some years ago GER
tain men high UP in Southern Kali
way councils fully expected, through
the threat of Schaffer bonds to COM
pei a sale of the States stock in the
North Carolina Railroad so that they
could buy It and stock It Tor Twice
the purchase money. The publication
of that fact may have put an emu 10
the scheme, but II was conjectured ana
seriously planned by men who look
far ahead. Mr.. Busbee says he never
heard of it. Very we'll, the gigantic
schemes Of the Southern Railway are
not presented to him for approval ana
his declarations do not reach further
than his own knowledge and such IN
formation as the big bugs see 1T To-
communicate 10 him.-Editor.I