Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1846-08-28
For The Enquirer.

rpinlmenl Of Senator OF The United STATES!
VIRGINIA.
For The Enquirer.
TO THE STOCKHOLDERS OF THE
LOUISA RAIL ROAD COMPANY.
have heard with much regret, that during my
absence beyond the Blue Ridge, where was de-
nined by some interests of the Company, a few
CT the Stockholders becoming dissatisfied with
decision of the general meeting, have Instituted
some proceedings, although not SO intended, yet
calculated, think, 10 inure the Company As
the guardian OF the interests Of all the Stock
holders, holding the position OF srealest respon-
sibiliy have concluded il was my duty 10 take
some notice Of what is transporting.
TIE question of employing The Richmond and
Fredericksburg Company 10 do the transportation
OF the Louisa Road on the terms they have de-
named, has been a subject OF much reflection
and discussion for several years past. There
have been one or two special meetings held in r.
lalion 10 il. Al The general meeting in 1913, The
BoaId were instructed 10 make a report IL the
general meeting in June last, Of The cost OF doing
their own transportation, which was done alter
most careful and laborious enquiry without any
recommendation, presenting merely a statement
OF lacts Resolutions were offered 10 do our own
transportation The subject thus brought up Tor
consideration, Ct think The fourth time,) was again
discussed, bu more fully by those anxious 10 renew
The contract with The Richmond and Fredeiicks-
burg Company. Several gentlemen opposed the
proposition with great ZEAL and every suggestion
which could be produced was presented, 10 dis
courage doing our own transportation; yet there
were indications OF a majority being in favor Of
making no proposition 10 The Richmond and F'rede-
rcksturg and Potomac Company surprising that
none we could make would be accepted. a
COMPROMISE was then proposed, with The aynwed
ohee, OF securing harmony, and adopted, as will
appear from the following extract from The pro.
ceeGngs "Ths foiiOping Preamble and Reso-
M,ioes offered by HiLians Ore,kon, and amended
by T. X. Prize, re1e adopted arM great "na'i-
r,iiv'
Here follows The Preamble rcciting The fact,
lna the Board OF Directors had reported, as their
unanimous opinion, that the average paid the
Rchm md, Fredericksburg and Potomac Com
pany annually under the present contract, was
SIS 100, and M idst fseal year ct, 733, more h@.
i. aconta cast us 10 no our olrn traasPo,tation AID
The resolution embudying the proposition 10 them,
and concluding with this resolution:
"Rssolre@, in case OF the refusal OF The Rich
mond and Polomse GbePBnaTGE IL IL
Directors o! the Louisa Railroad Company pro-
coed 10 make the necessary preparations 10 do
their own transportation
Numerous declarations were made, that the
rejection OF our proposal would produce perfect
unanimiIy in favor Of doing our own lransporla-
lion The proposition was communicated in The
most respectful terms. approved by the whole
Board, and has been rele ted. The Board ef Di-
rectors oil the Louisa Company have commenced
their preparations, and Incurred considerable e1.
pensc in The execution OF The instructions Of the
IL. -, II
ings, petition is signed By few Stockholders 10
the Directors 10 arrest further action--call
meeting Of the Stockholders, and revive The dis
cussion and negotiation. | was not present, but
learn that four out OF five Of the Directors de-
cided that il was their duty 10 execute the orders
OF the Stockholders, which had been adopted in
an unusually large general meeting. However
much disposel 10 respect as doubtless they we're
The wishes OF any number Of The SlockhudeIs-l
think, regarding their obligation 10 the great bulk
Of the Company, that they decided correctly.
"A Stakeholder" has published The petition
above alluded 10, and proposes that those in ia
vor of a called meeting shall send their names
10 The Secrelary-(as am told; have mol seen
The puhlicalion.) This snbjccI has been disposed
Of, after the most mature deliberations in open
meeting. where both sides could be heard, and
there seemed 10 be great unannity." How This
strange reaction has been brought about, does mol
fully appear, but il seems panic has seized on
a few Of the Stockholders understand ina, Sc
veral Of those who signed The petition have de-
clarcd--cne has sent me mcs,age-ihai they had
done 50 merely 10 quiet some dissatisfied lndi-
vdnals, being sill firmly in favor ofcarying out
The Instructions Of the general meeting.
Now, address myself 10 The sober, deliberate
reflection Of all The Stockholders, but especially
10 those whose names are signed 10 The petition
fall, 49, 4
enemy had been consulted, could any course
have been suggested better calculated TO inlnre
The interests OF The Company than that now pur-
sued2 It is impossible The Company can ever
prosper, if there is continuation OF the same
yacillalion and unslealne,s Of purpose in the
execution Of lis measures which has existei-i
Tie energies of lis executive off ers are cramped
and crippled BIZ those who should Support them
in The discharge OF their duties.
feel the most perfect confidence that another
meeting would only decide as The last has done
as am possessed of information obtained since
our meeting in Jnue, which would have great
weight in satisfying those who might then have
doubted, and | am strengthened in my convc-
lions OF the correctness OF their decision.
In relation 10 the suggestion OF "A Stakeholder"
for taking the sense Of The company about call
ed meeting, The interests Of The stockholders are
loo oeilca'et0 De SUBJECTED 10 Inc Innocence OF an
&c Yarte mode OF proceeding, which is liable to
SO many objections and although not authorised
BY the parties 10 say SO, am disposed 10 believe
that many Of those who signed the petition 10 the
Directors, did not intend 10 proceed any farther
than to ascertain their views of The propriety Of
having called meeting. II The President and
Directors are permitted 10 execute the ns;ruc-
lions of the general meeting, without embarrass-
ment, ! believe everything will work well.
have conversed with only one Of the Board,
bur from what learn, feel authorised TO say,
that the views have expressed are entertained by
al leas. four GU, Of five OF The Directors
E. FONTAINE,
President OF The Louisa Rail Road Conn any.
August 2lst, 1916.