Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1846-11-20

four State Directors have not yet been appoin-
L.
Annexed ore some of the resolutions adop-
ted by the meeting.
Offered by Gov. Dudley
Resolved, That the proper notice be given
that this company will apply to the next Le-
glslature for an amendment of their charter,
with a view to an extension OF the road to
Fair Bluff, or some point on the South Carroll
Ma line
Offered by Nlr. II. |. Toole, of Edgecombe.
Resolved 1st, That in the opinion of this
convention material reductions should be made
in the salaries and expenditures; that emitting
any specifications, the convention recommend
to the President and Board of Directors a
searching examination how far and in what
particulars such be made
Resolved I'd, That the present Road must
be sustained that to secure that, it nut be cr-
tended. That in contemplation of the present
embarrassment Of the State, no direct pecunia-
ry aid can be expected or ought to be asked
from that quarter. That the General Govern
men, with a view to mail facilities, should
extend a fostering hand. That the new enter
prise strongly appeals to the State pride OF the
citizens of North Carolina, presenting the sim
| tofore III commercial vassalaGe to Virginia, S
| Carolina, and New York, or whether uniting
| all our efforts we shall aid to build TIP in No
Carolina city worthy of the State.
In presenting the above resolutions, Mr.
| Toole took occasion to express at some length
his views on the project to extend the Road sc
as to connect with the South Carolina Roads
He advocated the extension in an able and en-
| fro
the immense benefits which must of necessity
result to this town and the State upon The
completion of the work contemplated. Mr.
Hines, of Raleigh, spoke to the same poin
with clcarness and vigor. He forcibly urget
the people of Wilmington 10 push onward tht
extension project with an unninching determi
nation, relying only on what they themselves
Gun 10 to achieve success Both of these gen
tiemen cvinccl a hearty interest in the pros
perity of Wilmington, as we'll as that OF thu
State at large. The gratitude OF our citizens
is justly due to them.
Offered by Mr.. G. J. McRee.
Resolved, That we memorable the mex
General Assembly OF the State of North Caro-
lima, TO reiinquish the mortgage held by tn
State on the Boats and Wharyes of the w.
r. Il. Road Co.; to authorize said Company It
negotiate, Oh the faith of said Boats an
Wharves, as large q loan as possible to sub
scribe the amount OF said loan to the extension
of SAID Road south to some point on the Soutl
Carolina line-the said stock in the new Roa
being pledged to the State in lieu of said mort
gage on the Boats and Wharves, and for tn
same purposes.
Offered by Mr.. Thomas D. Meares
Resolved, That the President and Director
apply TO the Legislature for an extension o
credit on the debt due the Literary Fund, an
the Bonds of the Company on which the Stat
is now an indOrser, in such way as to then
may seem best.
Resolved, That the President of this Com
pany, with f. B. Dudley, James S. Battle, T
J. Hill, II. l.. Holmes and Thomas d. Meares
be appointed committee to attend the sittin!
of the Legislature for the purpose OF memorial
iZing that boly for the extension of the Char
ter OF the W. & r. R. r. Co., to enable thcr
to connect with the S. C. Roads, or to procur
another Charter for the same purpose, and
attend to the interests of the Road in all othe
particulars; and that the committee appointe
dis aforesaid, be authorized to add to their mum
Der, or fill vacancies in their body which ma
. occur.
Offered by DR.. Sugg, of Elgccombe.
Resolved, That in the opinion of this meet
ing, a Sinking Fund should be provided fc
, the liquidation of the debts Of this Company
and that we strongly recommend to the Stock
holders, to contribute for that object
Resolved, That the President and Director
be instructed to prepare without delay, an il
strument of writing and cause it to be preser
ted to every Stakeholder in this Company, fc
his or her signature, binding them to the pay
, ment of S. on each Share OF Stock annual
for five years on and after the lst OF Nov
1917, for the purpose OF raising, said Fund.
Resolved, That no such subscription sha
be considered binding until the assent of in
diyIdual holders OF at least 5000 Shares
obtained, and also the consent OF the Leglsla
ture, to a similar contribution on the Stoc
} held by the State.
Resolved, That all the net proceeds of tn
Road after the paying the expenses of the Con
pany and the interest on the debt, shall be ii
ded to said fund, until the whole debt shall
extinguished
, Resolved That after the debts Of the Con
pany shall have been paid, the whole proceed
of said Road shall be and are hereby pledge
} to the repayments to the Stockholders of the
contributions as above, until the sums so Col
} tributed shall be returned with the intere
thereon.
; Resolved, That the President and Directo
; be instructed to make application to the L.
gislature at the ensuing session, for its col
curence in the object of the above resolution