Weekly North Carolina standard. [volume] (Raleigh, N.C.) 1850-1858, 1851-04-23
INTERNAL IMPROVEMENTS.

|
Wilmington and Manchester Rail Road at their late
general meeting; letter from J. J. Jackson, Esq,
giving an account of the action of late meeting of
the stockholders of the Cape Fear and Deep River
Navigation Company; and also, brief account, from
the Fayetteville Observer, of the late general meet
ing of the stockholders of the Fayetteville Plank
Road. .. .s.& as
WILMINGTON AND MANCHESTER RAIL ROAD.
,.. WILMINGTON, N. c., April 10. 1851.
At a general meeting of the Stockholders of the
Wilmington and Manchester Rail Road Company,
held at this place, pursuant to the resolution Of the
Stockholders of said Company, adopted at their gen.
eral meeting held at Marion Court House, $. c., on
| the 18th of March last, on motion of Gen. w. w.
Hares, Dr.. F. ]. Hill Of Brunswick was called 10
the Chair, and Messrs. Jno McRae, il. and 7. Burr,
| Jr. were requested to act as Secretaries. ".
On motion Of Gen. Harllee, Capt. Jas. E. Wither-
spoon, Henry Mutt and John McRae. Jr. were con-
stitnted Committee to ascerain the amount of Stock
represented, either in person or by proxy.
Capt. James E. Witherspoon, on the part of the
Committee appointed to oascerain the amount Of Stock
represented at this meeting, reported that shares
of the Capital Stock of this Company duly rep
resented; 5.799 shares being represented by proxy
and IT'S shares in person.
The Chairman thereupon announced to the meet
ing that more than two-thirds of the whole number
OF shares If the Capital Stock of this Company were
here represented, and that this meeting duly Or
ganized for the transaction of any business within the
provisions of the Charters granted by the States o
North Carolina and South Carolina, respectively cre
atlng the same.
On motion of Vim. A. Wright. Esq. the following
Preamble and Resolutions were adopted
by the meeting:
WHEREAS, 1t is important that the entire line of
Rail Road from Wilmington, N. c., to Manchester:
5. e., should be speedily completed and the same put
into successful operation and it is deemed expedien
that for the purposes aforesaid the President and Dr.
rectors Of this Company be authorised to borrow
money, TO issue Certificates other evidences Of
such loans, to make the same convertible into the
Stock of this Company the pleasure of the holders
Of the same and to pledge the property Of tie Com
pany for the payment of the same with interest; it is
therefore
Resolred, That the President and Directors of this
Company, a majority of them, be and they are
of this Company, to borrow a sum not exceeding in
the aggregate Eight hundred thousand dollars, $SOO,
OOO,) and Issue evidences of such loan loans
as may be negotiated by them by virtue Of this
luton, Certificates Bonds to be signed by the
President and atested by the Corporate Seal Of this
Company, which said Certificates or Bonds shall be
redeemable payable not less than ten, more
than twenty years from their several and respective
dates; shall bear interest not exceeding per
centum per annum, payable semi-annually, and the
same shall the pleasure of the holders thereof be
convertible into the Stock Of this Company its par
value.
Resored, That to secure the payment Of the ceriif
cafes of loan or bonds as aforesaid to be issued,
and also of the interest accruing the same, the
President and Directors of this Company be and they
are hereby authorised and empowered TO execute
deed Of mortgage, transferring al! and singular the
real and personal estate, property and effects be-
longing 10 this Company, and subsequent deed of
all the real personal property or effects which may
the sales of the certificates Of loan or bonds to be is
sued aforesaid in which said several deeds, all
such covenants, conditions and trusts shall he
contained, TO the President and Directors shall
seem expeden, and proper.
On motion, the Secretaries of this meeting, with
Wm. A. Wright. Esq. were appointed COMMITTEE
to revise for publication the proceedings of the Stock
holders at their meeting in Marion Court House, s.
c., on the 18th of March, 1851, together with the
proceedings of this meeting.
On motion Of Gen. Alex. McFae the meeting was
adioured sine die. FRED. ]. HILL, Chan.
T"aeo@s 1Sas @sfaa; sSs., IL j.. Secretaries.
CAPE FEAR AND DEEP RIVER Nav. COMPANY.
PlTTsBoRoUGH, April 8, 1851.
MR. LoRINe: drop you line to inform you of
the proceedings of the Meeting of the Stockholders
of Our Company. We had Meeting we'll attended
considering the busy We ali regretted much
that Wilmington not present, either in the per-
sons of some of her enterprsing citizens by proxy
The Meeting was called, as you no doubt aware,
in consequence ola communication made to the Board
of Directors, about the first of March last, by Eng
neer Thompson, informing them, that to complete
our improvement during this year, it would be-
sary place the line force of 300 hands during
the working season, when the waters fall, and that
pay this force, would require twelve fifteen thou
sand dollars monthly.
| This communication was submitted to our Meeting
on Saturday last, by the President. Whereupon,
Resolutions introduced. and unanimously passed,
| to the effect, that the Meeting in favor of
prompt and vigorous prosecution Of the work, during
the coming SUMNER and passed resolution, also in
structing the Board to borrow. if necessary. sum
of money, not exceeding $4,000 for that purpose,
and in it should be necessary for the members of
the Board to borrow the money for the Company, on
their induiduai responsibiEty the resolutions 90 on
to pledge the remaining nstaments due subscrip.
tions of Stock &c. &C., as an indemnity to them.
The work will go on now and be finished. There
will he 500 hands OH the line.
| Very Truly Yours, ]. J. JACKSON.\/
ANNUAL MEETING OF THE F. AND w. PLANK ROAD
COMPANY. On Thursday last the Cd Annual Meet
ing of this Company took place in the Hotel Hall.
The Hon. J. G.. Dobbn was; unanimously appointed
Chairman, and Mr.. John M. Rose Secretary.
| Nearly $500 to 1000 shares were represented in
person or by proxy. The States proxy was held by
lesley Jones, Esq, of Wake. ... .a~. s
| The annual report of the President and Directors
was submitted and read by f. L. Winslow, ESQ.,,
President Of the Company. From it we CLEANED the
following facts. - '. GEO.
Of the Capital Stock of 100000 (&l2o,ooo by
the State and $50, 900 by indvduas) the State has
paid 500 900. and individuals 935 ,6S8 II. Leaving
Cue by the State 100000, and by individuals $44,-
36l e3. >' 80 st1'i "a % 'i''" - -
Tolls have been collected on only ls smiles-on 70
miles Of that distance durin the whole year. and
the remaining miles during months. The gross
amount Of tolls collected is Ss7is a., from which