Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1849-12-17

pot. the letting Of the rontrac's for the eons,,n,;
the road 10 the Of Salen-an1 the official ., VI
orally Of he President and Directors deserve Tho su
balion of the Stockholders. fP0-
5. Reso'red Tina, in the further CONSTRUCTION If a.;
rad IT will be judeous t. divide the distance fou ~
town Of Saiem 10 the turnpike line, into Two diysor
nearly equal may be, aud that the resources IF "a %
Company be devoted 10 The successive construction If IL
divisions. practicable. 'se
3. Resotred. That the Board Of Directors be ,u,h
zed to receive from time 10 time, and upon such terms
they may deem indlcious, from the Stockholders snh
sums over and above the usual acquisitions, they nav
be willing to pay.
X. Crale, Esq, then offered the following res,,-
lions
Rcsolrcd, That the committee on the President.
port be discharged from the further consideration of ,s,
part o said report, which recommends the establishment
OF Rolling Mill by the company, for the burmese s
manufacturing the rails required in the CONSTRUCTION Of
road
And pending This resolution, the meeting admrnsa -
I'll tom ROW morning 10 o'clock.
Thursday morning, 10 O'Clock
The meeting convened pursuant TO adjournmen, .,,
qnrum being present. IN person or by proxy was oil
led to order by the chairman.
On motion of Mr.. Mosby, the resolution under consa
Grafton when the meeting adourned was laid on the ,ab
Mr.. Mosby, Chairman Of the committee upon Tho D.
sldenl's repo, then made further report and oaa,oI
herewith sundry utious which seyetay vntsJ
upon and adopied-vZ: Ma
The committee 10 whom again referred n, ,h
meeting last evening, the duty Of considering and ren,r'
ing on 50 much of the Pe,idenis report as recommends
The policy olerectlng rolling mill, for The manuG,c,n
Of rails for the Virginia and Tennessee Rail Road have
had the subject under consideration and beg leave IN
sent the following resolutions:
|. Resoiccd That at the present time it inc xpedi
ent to act on the recommendation Of the President and
Directors in regard to the erection ola rolling mill far
manufacturing rails and other iron, needed for the use
Of the company.
Resotred further. That in the opinion of the Stuck
holders 1t is highly DESIRABLE that Vrgia iron be used
IN the construction OF the road giving preference other
things being equal t, that which may be found on or ad
Jacent to- the line of improvement and TO effect this OH
Ject, the Board OF Directors be instructed 10 make i'm
mediate Efforts to procure such iron, by contracts with
individuals provided it be had fair prices and of
suitable quality And In aid Of his eri they be au.
'hoHzed To afford proper facilities such individuals to
enter into such contracts either by the purchase of The
raw material or advancing iron store, or otherwise
as they may deem hest but if. however thorough,
examination Of the subject, the Board Of Doctors deem
1t best 10 purchase other Ametlcan foreign iron for
the use Of the company. they be authorized do So
s. ResOlred, That, after making such efforts, if Viz
sna iron cannot be obtained, indicated above Jon terms
and ofqnaes approved by tho Board of Directors and
# the Board shall deem it inexpedent TO purchase other
American or foreign iron, then they be directed such
ime as they deem proper 10 call general meeting Of
the Stockholders, to consider and decide ultimate ac-
ton in the premises.
On motion of c. l.. Mosby, Esq,
Resored, unanimously, that the appointment of chief
and principal assistant Engineers, cordially approved
by The Stockholders and that the duties Of the Engineers
Department appear to have been most faithfully and eff
GENTLY performed
Resolved. That the annual salary of the President of
this company, be hereafter one thousand five hundred dol
lars in addition 10 his travelling expenses, TO be previous
y approved by the Board of Directors and that the pay
OF each Director, in lieu Of that allowed be heeaf.
ter three dollars per dem for the time actually engaged
IN The service of the company, and fifteen cents for each
nile OF necessary travel on the business OF the company,
but no per diem shall be allowed when travelling.
On motion of " III. Il, Yancey Esq,
The company then proceeded elect lis officers for the
ensuing year, when
Gen. O. &. Clay was unanimously reelected Pres-
dent.
Messrs. Henry Davis, + b. Deane jr., Tho J. Boyd
b. f. Wysnr, and Cha. II Lynch were unanimously
| reelected Directors and
/. b. Deaner was unanimously reelected Vice Pre-
sideni.
The chairman then appointed Messrs Samuel Garland
David r. Edley, A. H. Armistead. David Rodes John
H. Tyree, James NJ Boyd, Chs. w. Christian. James
l.. Clayton and Henry Dunningron, a committee as re-
quired by the Slh By law.
| Ga motion of Mr.. Mosby,
ReSolred That the thanks of this meeting be tender
ed the chairman for the dignied manner in which he
has presided during its deliberations and to the
Secretaries for The faithful manner in which they have
discharged their duties.
! The meeting then adjourned sine die
DANIEL A. WILSON, Charm,
r r. W W M nn,s Secretaries.