Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1849-01-11

vor first general meeting On the 10Th Of August last.
called together tie board Of directors in the town Of
LynchbuTg, Monday the 2lst If the same month. to
into effect such orders and resolutions Of The stock
holders IS had been past n their recent meeting
fulfil the duties that devovpd upoL Them. under the
charter Of the company aud the bylaws adopted by YOU
govern their proceedings in the business entrusted 10
their and likewise t. submit to their consideration
such matters as in my Judgment the interest OF the com
pany might require. Having appointed F. B. Deane, jr
Esq. "a member Of the board clerk pro tenn. for the
Transaction Of business. the frs subject that deemed
essential TO complete the organization Of the board,
to elect treasurer and clerk in accordance with the pro-
visions Of the act Of the general assembly, prescribing
general regulations for the Incorporation Of rail road com
panes. The board resolved proceed to make the ap
polnment TO fill those offices the day. Of which
due notice was gven that applicants might De informed
of their intention.
Il was unanimously decided that the duties Of the two
offices should for the present. be performed by per
son; that 1t should be his duty attend all meetings Of
the boards Of directors; 10 keep true record of their pro
ceedngs to keep the oks OF the company to collect all
the money due the company and dlsburse The same un
der such regulations may he prescribed by the board
Of directors, and TO do and perform such other duties
may be required Of him by the president in Of the
board he makes collections of the funds Of the compa
ny he shall, if practicable the day such collections be
made. deposit tie same to the credit Of the Lynchbug
and Tennessee railroad cnmfany." in Of the banks
IN the town Of Lynchburr that lie shall make weekly
settlements Tor Suct corrections Win line president. or IN
his absence with The vice presiden, If which settlement
record shall be made and atesed BY tie president vice
president, and reported TO the next meeting Of the board
Of directors The salary Of tie treasurer and clerk shall
be S3UO OO per annum, payable quarterly, and he
shall mold MS Dce at the pleasure Of the board of drec
tors All disbursements Of the funds Of the company
shall be By order Of the PRESIDENT counlersgned by the
treasurer and clerk and all checks the bank banks
with which the company may keep account shall be
made payable to order. and not TO bearer The board
also ordered that the funds Of the company shall be de
posted in the two banks Lynchburg nearly equal
amounts may be convenient. and that deposits may
likewise be made in the bank at " yhevle but in
whatever banks deposits be made, they must be made
the credit OF the "Lynchburg and Tennessee r all Road
Company" and not to any officer Of that company.
Having adopted these rules and regulations for receiving
and discussing the funds Of the company which they
deemed as being best calculated to faithful dis
charge of the dros Of secretary and treasurer the board
proceeded TO elect fiji and proper person fill that Of
flee, and Francis G. Morrison having received majority
Of the votes at the board declared duly elected
suer and clerk Of the Lynchburg and tennessee Rail
Road Company the penalty of his official bond was fix
ed at three thousand dollars which duly executed.
with John Nj. Speed and Charles L. Mosby as his
nes-was approved by the board and placed in the
hands Of the president for safe keeping.
The board appointed committee settle the account
Of the commissioners for the town Of Lynchburg, and
certain the arhount Of money actually received by them
who proceeded to examine the presented by Hen
~ paws Esq, chairman Of the board OF commissioners.
and reported that they had received in cash from
tn )usanI four hundred and seventeen shares Of Stock
two thousand eight hundred and thirty four dollars, from
which deducted the expenses of the commissioners
amounting to two hundred and dollars and forty eight
cents, leaving in their hands balance Of two thousand
SIX hundred and thuytwo dollars and ffy-two cents.
which amount was deposited by them, agreeaby to
order Of the board, in the Farmers Bank .ynchburg,
to the credit of the "Lynchburg and Tennessee Rail
Road company" since which lime the Secretary and
l reasurer has collected and deposited in bank the sum
forty six dollars twenty three shares Of stock which
were subscribed for before the general meeting and fly
dollars twenty-five shares that have been subscribed
since that time, making in the aggregate the sum Of two
Thousand nlne hundred and twenty weight dollars which
have been received from individual subscriptions four
teen hundred and sixty four shares Of stock Of which
mount there remains on deposit in bank, to the
credit Of the company, a balance Of thousand and
twenty one dollars md seventy five cents, showing that
an amount of ore thousand nine hundred and four dollars
and twenty-five has been expended ia the necess1
~ contingent expenses of the company incurred in I'LL
ling in part, the instructions Of the stockholders to the
president and directors for more particular account of
which VIII refer 10 the account rendered up to this
time by The secretary and treasurer and which accompa
MES this report.
While on the subject Of the finances Of the company
bee leave to inform the Stockholders, that in carrying
rigid economy in every department Of their business
compatible with the true interest Of the company there
will not be suiicency Of funds in the treasury
the demands that Will have to be made upon it,
count Of the surveys to the Tennessee line. Consequent
y the board have made further rcqulson Of two dol
lars per share, payable the office of the company on
the lst day December next, which small requisiion
hope will be not only promptly but cheerfully complied
with on the part Of the Stockholders and enable the
board to meet their engagements hUnoraby and unctu
ally
The board have appointed agents To- receive subscrp
tons to the stock ofihe company, in all the counties from
Lynchburg to the Tennessee line; disseminate norma
lion amongst the people upon the subject Of railway i'm
provemens, and to collect intelligence the trade and
resources, agricultural and mneral to ascertain accu
Tatey if possible, the rates of transportation paid
the import and export trade Of each county; aso pro-
cure specimens Of minerals from the region through
which the road is proposed TO be carried likewise
publish such matter will further the objects Of the
company All the reports that have been received on
these subjects are herewith submitted.
i he board have prepared and published form Of
proxy and provided common seal for the company, as
required by the general railroad law.
On the 2st of August the board directed the president
to address letter to the governor Of the commonwealth
asking that he would extend the furough of Capt Dim
mock TO such time would enable him to complete the
survey In which he WAS engaged under the direction Of
the commissioners at Lyncburg, which application his
exceency declined granting at that time, 50 that Capt
Dlmmock was compelled 10 leave the pary very much
to my regret. on the 18th of September had howev-
err previously been so fortunate to engage the services
OF Mr. Lewis Nj. Provost, able and competent eng
neer who completed the survey through the county of
Bedford under the direction Of Captain Dmmncl
whose valuable services procured a subsequent
application 70 the governor for leave Of absence IF three
weeks TO enable him curnnpte survey frnrn tba