The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1914-08-20
HELD STOCK IN AN
IMPROVEMENT CO.
This Company Built the
Original Pensacola, Ala
bana & Tennessee Rail
road. Which Later Be-
came the Pensacola, Mo-
bile & New Orleans.

Judge w 3. Sheppard yesterday
rendered a decision in the case of Ed
ward Davis. administrator, against
Henry Mclaughlin and others inter
ested in the Pensacola, Mobile &
New Orleans railroad, in which Davis
is awarded the sum of $10,500 with i'm
terest from 1898 to the present date.
The $1O,500 was the amount originally
invested by the Davis estate in the
Southern Improvement Company,
builders of the Pensacola. Alabama &
Tennessee railroad which was later
merged into the present Pensacola,
Mobile & New Orleans railroad.
The suit by Edward Davis as ad-
ministrator of the estate of David Da-
Wis, was instituted in the United States
court over a year ago and since that
time vast quantities Of documentary
evidence has been submitted, including
the briefs of attorneys for the COM
plainant and defendant, as well as
lengthy oral arguments.
THE DECISION.
The courts decision was as follows:
In the United States District Court,
Northern District of Florida Edward
Davis. as administrator. de donis non,
complainant, VS.. Henry Mclaughlin,
Charles II. Dishman, Southern I'm
provement Company, Pensacola & Per
dido r. r. Co, Pensacola, Alabama &
Tennessee r. r. Co, Pensacola, Mobile
& New Orleans Railroad Company,
knickerbocker Trust Company, Far
mers Loan & Trust Company, Elwood
Mclaughlin. individually, Elwood Nc
Laughln president of Pensacola,
Mobile & New Orleans Railroad Com
pany, respondents.
Administrator Of estate Of G. II.
Dishman, cross complainant, VS.. Hen
ry Mclaughlin, ct ais.
Memorandum-The material and i'm
portant facts cleaned from the huge
mass of testimony contained in the
record of this case leads to the in
eVitable conclusion that the original
intention of the parties creating the
Southern Improvement Company, was
that the contributions to the stock of
that company should constitute it's
only asset and be used to construct
equip and repair a railroad system
from Pensacola to the Alabama min
eral district.
The scheme contemplated the owner
ship of the Pensacola and Perdido
Railroad Company. then in existence.
and the construction of an additional
line of road to the Ala bama state line
to be known as the Pensacola, Ala
hama and Tennessee Railroad Com
pany. That the Southern Improvement
Company should become the holding
company for the stocks and securities
of the two railroads. (the P. & P. r. r.
Co. and the p. A. & T. r. r. Coz
which were to be accepted as a con-
sideration for the Improvement of the
Pensacola & Perdido Railroad and the
construction of the Pensacola, Ala
bama & Tennessee Railroad.
The contra"t between the Southern
Improvement Company and the Pen
sacOla, Alabama, & Tennessee Railroad
Company provided for the issuance and
delivery to the Southern Improvement
Company twenty thousand dollars in
stock and twenty thousand dollars IN
bonds for each complete mile Of road
payable upon the completion of each
section Of five miles.
WAS TO BE SECURED.
1t is evident that the parties in
tended that as the road was COM
pleted in sections of five miles the
Southern Improvement Company was
to be secured for advances to the