Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1843-08-24
CHEsarEAKE AND OHIO CANAL.

The Stockholders of the Canal Company held
an Adjourned meeting in Frederick, Md. on
Thursdsy las,, and removed Gen. Mcneil from
the Presidency. Resolutions were also passed APP
proving the act Ct the Directors in aanung the
contract entered into between the President of the
Company and Letson & Rutter, declaring that
said contract was made without authority, and
consequently that the interests OF the company
quired change in the Office Of President. The
Stockholders have ordered their proceedings upon
the subject to be mode public.
Col. JAMES NJ. CokLs, of Frederick, was then
elected President of the Company.
The Frederick Herald of Saturday has the fol-
lowing notice of the proceedings of the Stock
holdets:-
CuEsAPEAKE AND ONO CANAL Both the
Boa,d OF Directors and the Stock holders met at
the flee in This place Wednesday last. The
stockholders meeting was unusually full, there be
ing present The State of Maryland by its agents.
Gov. Samuel Srrigg and A. 3 Davis. W Pur
nell ard John Vahleaf, Esp ;-rhe United States
by Col Abelt-and the Corporations Of Washing
ton, Geotgetown and Alexandria by the respec.
tive representatives together wlih sundIy private
Stockholders. a report was presented signedb by
the Directors Of the Company, giving full and
particular history of The late transactions Of the
President OF the Company in relation TO fhe exc
cutioB OF tie contract which he had made with
Messrs. Le,son & Ruuer, and stating at length
the reason Why il had bern annulled.- On Thurs
day morning Gen. Mcneil appeared before the
Stockholders and made detailed statement in
vndication of his cause.
The Stocklo Iders then proceeded TO consider
rhs whole suffice and finally passed series Of
outon-, approving Of the course Of the Directors
--decluring that the interests of the Company re-
qured change 10 the flee of President anil re-
moging Gen NcNciH from that efce. The vote
on these resolutions stood 1887 for the resoiu
tion., and 5000 against iher.
The Stockholders then at once proceeded. as
the charter required Them do SO, TO elect Pres
dent of the Company 20 fll the vacancy stoned
by the removal Of Gen. Mcneil. when Col, JAMES
NJ. COATS Of this city lafe a Director Of the Com
pany, was pn0nimousiy elected President.
Ia the SELECTION of Col COais for this oihce
the Stockholders of the Canal Company have fall
len upon a man who possesses the full confidence OF
the community and who from his integrity. Of char
acter, his intimate acquaintance with and kGowl-
edge ot the concerns OF the Company, and bis we'll
known ability and alents, is perhaps as well quail
lied for The station as any nah within or beyond
the borders of the State That il will be his pride
and his pleasure, 10 push this grea, work early
completion with the utmost energy and despatch,
consistent with the interests of the State, have
every assurance, ard We now posssss the strong
est conf lence that the Chesapeake and Ohio Ca
nal will soon become finished and productive
work, rejecting credit on those who prolecied il.
honor those who shall feet lis completion and
wealth upon the State which has had the public
spiri, undertake 50 grand and magnificent an
enterprise.