The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1851-07-16
From The Patriot.
Meeting Of STOCK Holders.


The stick hnlders uf The N. G.. Rail.
road Company having assembled in the
prrshy terrain CLurrh. AT 10 o'rlork on
Thursday. ll.r l0sh.. the meeting was call
cd 10 oni,r ny nr. 4. }. lIlll. Of Bruno
wick. and on his molion. lie lion. Cal
YIN Graves. al Ca.wrll, was called To pre-
ride over The meeting.
TIN assuming the chair MIR. Graves
made lew pertinent remarks. caIsi'laird
tn prpslure a .pi,il Of harmony IN the I'M
porlani sIrilhe ailuns Then commencing.
I'm moliun nl Mr.. tillmer. iiI. SIrud-
wirk. nf iliil>borougl. aud Z. l.. Banner,
E>q.. al Salem. ware appointed Sscrela-
RES oI the meeting.
A committee al three. viz: John A.
Gilmrr. r. ]. Hill, and VIZ. &. Means
was Then appointed To examine aud rrpnr
upon ,hr state uf HE slork and what por-
,ians were represented ~ the presen
meeting in person and by proxy. Afe
NECESSARILY tedious investigator the,
reported $3.50 shares al siark rrpresril
ted 81 in person and 3.4iS by proxy
and upwards Of one hundred siock
holders in personal attendance.
TN melton of MIR. Mebane. Of Orange
il was resolved. iha, hereafter al any An
nuaI Meeting the Stockholders shall re
port themselves aud Their proxies To lh'
Secretary aud Treasurer OF The Board be
fore the houI of mcr,Ing, IN order ilia
that officer may report 10 The meeting
without u, lay.
The President Of the Company ]. NJ
MDrphea,l, was then called upon lnr ~
Report. which he submitted IN writing. re
capilnla Ing The successive steps OF pro
p,pss in the work. anti referring L. iahola
statements shaving the expenditure al
seadv made. The detailed estimates oi ih
wulk. estimates of The amount 81 won
liza, can be dome entirely with North "a
rnlina material, a Isl al The engineers, DC
Ii appcals thai there has been 81 lar ex
DPn,lcd the sum of lulle over S2S,U0
nnly, for salaries, surveys. aud every ihIr
else an the rnute, leaving balance
over sci 600 Of money IN The lreasnr
unexpcule,l. The Report and accom-
panylng papers were received aud nr''rrr
10 be pr,a,ed wuh The minutes; we sha
not. ,aete.,ne. undertake 10 compress N
/. valuable information therein ron'ained II
: la our limited space thus week.
t Mr.. jones, III Rowan. m.rm.nccd q
/ solution, which was adopted, Ia 20 lnin y
\ election of directors. an that s"i'ah
names be proposed hy the stock holdr
Z M specified districts. according to tie p''
!, a,.ontei a, the FIST Annual Meeting,
Salisbury.
Mr.. alor,lecai. Of Raleigh. introduced
;. resniniion whmh was amended ny n
= G.Imsr, and AZ amended read as follow
7 Resoirsd, lha, no person who is now or m
! be hereafter contractor, directly or indirect
!, secretly or openly in his individual right OF u
, cnpartner IN any company of contractors un
this corporation, can, without violation OF
= act as director in the North Carolina kallr'
c. Company; and il any director thus in,eres
lc shall he elected, that he he required TO qua
a himself to act legally as such.
be An animated and able debate arose
If This resoluion-Messrs. Mortiecal. u.
i. Swain. Ralph Gorrell aud d. +. Calda
!, speaking in support, and Judge FL
: Glen. Leach aud Rev. i. Mcdonald
Nc oppnsi,ion. The resolution was iran
~ with. a view 10 the statute oi 10
e. which makes j, an indic.abis m's'eme
ar. or Tor any commissioners or director
es' any public work 10 become a conlras
IN, thereof; and Cav. Swain stated that
Ter, was prepared with authorities to show
! Of so,lfac. made IN disubedience To the
,i,i- i thereby vilia,ed. |. was Insisted
bsn ,ha other hand tia the stockhnlders
! ~ he Road, mciading'of course those
al sI.ouli become directors. Subscribed :
lion the understanding that they should !
Cd the privilege Of working out 'he'f saa