Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1921-04-15

meeting al hdIllnEen OH tne M
Grande railway question may b
summed up as follows:
Six months from yesterday
are given in which to complete
the payment of subscriptions to
the railroad bond issue Of SI91-
600.
Those who have already paid
their subscriptions will be ask
ed to sign releases to the
amount of $500 in order to
take care Of exceedingly pres
sing obligations Of the Rio Gran
de railway. bonds being given
in exchange.
An executive committee con-
sisting of r. II. Stuart of Har-
lingen, John p. Gordon Of Mis-
sion, c. l.. Jessup of Browns
vile, J. J. Elliott of Mereeres
and J. II. Holt Of Brownsville
was named to work out plans
hoF FGs1Hhhk aGhtwihy IN tnG
campaign, securing the releases
and, if possible, enough money
with which to begin actual re-
building Of the Rio Grande
railway.
The executive committee was
clothed with authority to take
whatever steps may be neees-
sary to rebuild the channel fund
Of $l25,OO0, which has become
depleted to the amount Of $685.
600. including $1,000 sent to
Washington, through withdraw
ais in some towns, declared not
to have been authorized.
This committee went into scs-
sion Immediately after the gen.
ersl meeting for the purpose
of formulating plans.
When the report Of the ways an'
means committee of the Rio Grand'
Valley Chamber of Commerce wa
submitted to the meeting, all sec
tions were adopted without mucl
discussion with the exception of TIL
third. which provided that sixty pc
cent of the stock of the Rio Grand
railway, together with signed agree
mcnts. should be placed in escrow il
trust company to be agreed upon
With the taking up Of this section
AN argument, at times heated, wa
projected which threatened at on
time to disrupt the meeting.
II developed finally. however, tina
all participating in the argument, in
cluding D. A. O'Brien, president o
the Rio Grande; j. j. Elliot, man
ager of Rio Grande Valley Grow
ers' Exchange, r. II. Stuart, presi
dent of an Oklahoma life insurance
concern and senior member of tn
firm of Stuart Bros, land owner
at Harlingen; Ford Bennett Of Mer
cedes, A. b. Walker of Brownsville
c. l.. Jessup and others, were al
laboring under MISUNDERSTANDING
of certain ideas advanced. When tn
atmosphere finally was cleared /
was found that some of those parti
cipating had not clearly understood
what was actually sought. Tn
whole matter was then adjusted
and a resolution introduced by J. II
Hott and passed. ended in the adop
tion Of the whole report Of the way
and means committee
The discussion started when j. j
Elliott. manager of the Rio Grand
Growers Exchange. announced tha
he would demand the signing OF al
agreement hv Mr. O'Brien as out
lined in clause in the bond subs
cription contract. Mr.. Elliott said h
construed the contract TO mean tina
Mr.. O'Brien would be required Z
sign the agreement TO turn Owe
sixty per cent of the capital stoc
of the railroad when the bonds ha
been subscribed, whereas. Mr.. o.
Bricn pointed out that the contrac
called for completion OF both subs
cription and payment.
Reading Of the clause develope
that one part Of il mentioned "suh
cription and payment" Of $l91, ,00C
while later portion said subs
cribed" only Mr.. O'Brien urged tina
this was technicality, and took III
floor and durng a somewhat heate
talk laid bare the situation that
being faced nv the Rio Grande raj
way at the present time.
Unless the people Of the Vale
give me the relief (thc release o
$25, ,000) asked. the whole deal
off" he said. 81 have offered to Civ
up sixty per cent Of my stock
there is hundred per cent if tn
people Of the Valley want IT,"
Mr.. O'Bricn explained that ne ha