Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1849-05-10

than me ; ate, HE baaFd Of Public Works were reaulrel
II subscribe by seven thouSandfye hindrei shares On the
part of the Commonwealth. When the bill came NJ, m
the question OF It's eugrussmen' Mr.. Burwell .nflrmei ma
that several members Of he Senate apprisel him of tb.i,
Intention ID vote sgsinst the bIL, unless the private s,,
scHptiIn should be increased 10 seven thousand FIVE hua-
d-ed shares, 81 as To satisfy them I would not ~ , me-
iocal work consequently. the bill would be defeated IN
tie Senate, even should it passthe lower House. I, which
anrnt'nent | as'ented. and the amendment, offered by
hin. was intended merely 70 enlarge the private s,b
~scrpJions, and was y slated bv the mover al the time
AMI 10 enc ever supposed The principle Of The bill as t.
the States quota was tn BE- changed ii any manner what
ever as WIZ appear 5y reference 70 the l0th secion of
the 1Hl.
The third section provides f7 the 71rrent Of the
Stlte's Subscription in PREPARATION d that of Indi yidaals,
MT exceeding one hundred and fifty thousand dollars
within The first fiscal year. ending TIE 3ttl September,
'lei9. and no more than three hundred Thousand dollars
within The next fiscal year thereafter. ard TO more than
uar hundred Thousand dollars within each successive is
cal year thereafter. uni! tho amount IF tile StIie's suo-
scrlntinn shall be paid.
The fourth section authorizes the Board Of Public
Works 70 bGruw, from time 70 time, such sums as may
be necessary to pay the Commonwealth subscription.
and prohibits the President and Directors Of the company
from tispasi7r Of Ihe states subscription, Nv h~ypUtneca-
ton, or otherwise, at less than its par value.
The 9Th, sixth, seventh, eighth and ninth sfcuons.
are all in relation To the right OF connecting other railroads
with The Virginia AMI Tennessee Railroad, and were
NOT regarded as being very o0I5ellonaole ~ t9e TRENDS u
i Law. the SIZE reserved ali the rish1s eo4'aieei
\ [1iae - Vas. %55e {" S- yisI jed Of + your Sor' o r@Sai' rfg } ~
ts Ip n1 .eat" The s' s.ats Ia the m e : # the sio cEtoilItsa
Vt ths cimpany. shal! be authorized To give for The State
4 uumber III vJie5 eJnaI to three ftths Of the whole mum
brr present in SUCH meetings. ms IS decidedly otJec
i1naoe .bnt opposition was deemed mpJi.tic,tromthe fac
that by the report Of the rcvsJrs Of the State code. pro-
posing material alterations IN regard u J'lnt stock com
panies in iris PARTICULAR N winch beT Ieave io call
yonT attention, ana which Wa believed would BE- adopt
I'd By the Legislature, as a general law, this obnoxious
tenure would be removed.
The eleventh aeCiiin prohibits any persons from repre-
eagtlnr II any meeting VI the Slockhulders. BY proxy oT
.-iurgi-s 1.,rA rblu d1taI. the number of shares pf
,tt.t - ~, u. L.,r co r,o- A. ras,c,ts r.
-,
paw .'h' ! ''I'Ee w n c'"'tIep p ~ u-sl'eet Hill M
7'rFah' persons, mat some sncil res'fic'Io1 IS necessary 10
ensure tic welfare and good management ui J'Iut stock
companies. In nv opinion. 1T will have 4 beneficial effect
I'm r'str,Irinr 4r.eutive iur1apc. and power. rctlininJ il
~ tu, I'D e ,bo o,.t,,.n, h,Iy ,be ,,I, .oE. d-
iii '
p"1"s' =,