Daily Richmond times. [volume] (Richmond, Va.) 1849-1850, 1850-05-29
RICHMOND AND DANvILLE RAILROAD
COMPANY

Charlotte Court House, Mr. WILLIAM I'll. DENNIS was
appointed Chairman, and JOHN PENNEFATHER was ap-
pointed Assistant Clerk. The meeting being orga-
nized the roll was caed-present, represented in per-
son and by proxies, 2,270 votes necessary to form
The President of the company presented a commu-
nication to the meeting, (Which will be found below in
relation to the act Of the General Assembly, passed the
18th March last, and other subjects OF interest to the
| Company
The Clerk then read the act of the General Assem-.
! bly,.
| On motion of Colonel George TONNES, a commit
| tee of three, consisting of Messrs. George Townes
| VIM. w. Crump and Hunter H. Marshall were ap-
pointed to examine and report certain amendments to
the bylaws, in alton to the meetings of the Board
OF Directors, and the per diem Of the same-they re-
ported amendments to the 18th, 18th and 18th articles
which were unanimously adopted
| On motion of Thomas T. Boudin, the following re-
solution, after animated discussion was adopted with
great unanimty, viz:
Resolued, That the Stockholders Of the Richmond and
Danvile Railroad Company, accept the provisions Of
act of the General Assembly OF Virginia passed the
18th day of March, 1885, authorizing a guarantee of
the bonds of the said Company.
On motion of COL Geo. Townes the following reso-
| luton was unanimously adopted viz
| Resolved, hat the Directors Of the Richmond and
| Danvle Railroad Company be instructed to withhold
the execution OF mortgage, under the authority of an
act OF the General Assembly OF Virginia passed the 18th
day of March, 1850, in relation to said Company until
the next annual meeting OF the Company and the Di-
rectors be empowered, out of the present means Of the
Company, to lay down heavy rail, from the Falling
|
ment it be expedient.
On motion of VIM. w. Crump, the following resolll-
ton, alter striking out the last clause, ncuded brack
cts, was adopted, VIZ
RESOLVED, That the President and Directors be in
structed to address memorial to the Legislature ask
ing for such modification of the OF the General
Assembly, passed the 18th day oil March, 1880 as will
relieve the Company from the necessity of appropatng
the certificates OF debt in the mode required by the 9Th
section of said act; from the obligation imposed by the
| 7th section thereof of "aying down no rail on sal
WnIOht 3 tn fha word. /n,J tn
define the extent and character Of the mortgage con-
tempated by the I'd section of said act
Onmotlon OF Mr.. William 7. Scott the fol lowing
resolution was adopted, viz;
Resotoed That the President and Directors be re-
CURED to make application to the next Legislature for
charter to unite with the Virginia and Tennessee
Railroad, at or Lynchburg, from the most eligible
| point on the Richmond and Danville Railroad
The President lead letter from Mr. H. l.. Kent, in
which he expressed great regret that in consequence
the urgent demands upon his time by his private engage
ments he prevented from giving such attention to
heinerests OF the Company he would desire; and he
therefore reluctantly rendered his resignation as Di-
rector: The President then moved that Mr. Kents re-
sgnaton be accepted, which adopted; and he fur
| Their moved-seconded by Mr.. Crump-that George w.
Muntord Esq, be elected Director to fill the vacancy
and Mr. Munord was unanimously elected to that Of
| flee.
financial statement prepared by the clerk showing
the operations Of the Company to 3lst March, 1850,
exh bted to the Stockholders present; and on mo-
| ton OF Mr. Bouldn, is was
ResolUed, That 1900 copies of the financial statement
prepared by the Clerk be printed, and copy furnished
each Stakeholder OF the Company.
On motion of Mr. Lewis E. Harvie, it was
| Resolued, That the proceedings of this meeting be
published in the Richmond newspapers.
On motion of Mr. David Chalmers, it was
ResoLped, That the thanks of this meeting be pre-
sented to the owners OF the Presbyterian Church at
Charlotte Court House, for permitting the use OF the
same by the stockholders of the Richmond and Dan
| vile Railroad Company.
On motion Of Mr. Clifford, it was unanimously
Resolved, That the thanks oil this meeting be given
VIM Fl. Dennis, ESQ., for the very able, digntied and
impartial manner in which he has presided over this
meeting of the stockholders
And then the meeting adjourned.
WIN. II. DENNIS, Chairman
P. VAN DEUERsoN, Clerk.
To the Stockholders of the Richmond and Danpille
Railrodd Company:
GENTLEMEN: 1t is scarcely necessary to remind you
that the object OF your assembling upon this OCCASION is
to take into consideration and decide upon the propre-
ty OF the adoption of the act of the last General As
semby, guaranteeing the bonds of this company to the
amount Of two hundred thousand dollars, to enable the
company to lay down the heavy rail and necessary
chnerv for such distance as that amount would autho-
rZe. A copy OF such act is herewith appended to
which most respectfully call your attention. have
no hesitation in recommending its adoption, The
bonds be made payable in 30 or 80 years. requiring
OF the company during that time, simply the payment
OF the interest upon the same, amounting to twelve
thousand dollars
OF the interest for the first year, there will not
be perhaps before the laying down of the rail- suff-
cent extent of road in operation as may justify
and above the necessary expense OF running the road
dividend sufficient to meet the demand, unless the
freghts from coal may, indeed enable TO do so, of
which there is strong probability. We have, however,
an assurance that there will be large and profitable
transportation OF stone upon the first three four miles
OF the road, which, if we not disappointed in, will,
with the COAL give ample means to meet the interest
Having procured the rail, and laid down the far
as Amelia Court House and farther, have hesta-
n q n inc
| the interest will be ample.
The stockholders are aware that the company has
already purchased iron of flat bar patterns sufficient
lay down some eighty or ninety miles. Ii, then, the
heavy rail is put down tar the two hundred thou
sand dollars will bring us, have quite iron and tim
Der enough procured to carry us to Danville. Can
calculate upon completing the road by any other
so readily eilectually ! There now remains some
eighty thousand dollars Of private subscription be
made up, which, with the States subscription dependent
thereupon OF one hundred and twenty thousand, make
two hundred thousand dollars. Where is it to come
from! From Richmond. She has nobly done her part
from the lower counties. They have the road, and
their nducemen is less than when their present mode
rate subscription was made. From Halifax her previous
action, though the line penerates her very heart must
answer the question Will Pittsyvana subscribe it 3
The small portion of road she is likely to receive for her
very liberal subscriptions must give the reply. Will
Caswell and Person, IN North Carolina Though
deeply interested their past action upon the subject will
| furnish us with conclusion.
We look then to other sources and inducements,
and the history and experience OF other railroads 10 the
country usfes the belief that when shall have pro-
crossed some distance in the interior with good and
substantial road with heavy rail- doing its work we'll
transporting certainly easily, rapidly and cheapy and
meeting public expectation, may reasonably cacu-
late upon increased subscriptions 1t will demonstrate
its value and necessity 1t will not consume its entire
receipts in expenses and repairs 1t will transport cheap
", and will thus draw freight and passengers from
greater distance than it would do when by being COM
PEELED to carry high rates TO meet repairs it must
necessarily cease to attract but drive off freight, except
in immediate contiguity The proviso which, in the
law require that rail of less than 81 pounds to the
yard shonld be laid down, mere inadvertence by
the phraseology Of the mover, aud meant to apply
to such rail only might be procured with the sum
borrowed for it was universally known that large
amount OF rail had already been purchased, and that
sixty or seventy miles The communication of the Pre-
sident to the last annual general of the stockholders
was laid upon the table Of each member of the egsa-