North Carolina standard. [volume] (Raleigh, N.C.) 1850-1852, 1851-04-19

II me-
At geneia I'D Manchester Rail Road Company,
Winnings; Mace. pursuant to the resolution OF the
neio a. of said Company, adopted at tnel[ gen.
T netino held at Marion Court house, .: ". on
&c 19th of March last, on motion OF Uen' w. w.
tue IL Dr F. J. Hill of Brunswick was called to
HatlIs; and Messrs Jno McRae, Jr. and T. Burr,
1he ' one' requested to act as Secretaries.
Jr. VIZ eo,ion of Gen. Harllee Capt. Jas. E. Wther
on " uonry Mutt and John McRae, Jr. were con-
sPoon'd Committee to ascertain the amount of Stock
71ss,nresented, either in person or oy proxy
IoP Cn, lanes E. Witherspoon, on the part OF the
a,,ee appointed to ascertain the amount of Stock
Ontod at this meeting, reported that 6 ,574 shares
f.bo Captal Stock of this Company were duly rep
VI .onod. 799 shares being represented by proxy
and IT'S shares in person.
IL more than two-thirds of the whole number
rs t"ros If the Capital Stock of this Company were
80 renresented, and that this meeting was duly or
;d Cor the transaction of any business within the
srvsions of the Charters granted by Inc states OF
P.h Carolina and South Carolina, respectively Gre
atino the same.
a' ~. motion of VIM. A. Wright. Esq. the following
1.na.hIo and Resolutions were unanimously adopted
by the meeting: IL;
R,il Road from Wilmington, N. w. TO manchester.
G r. should be speedily completed and theSsame put
INTO successful operation, and it is deemed exPedlent
,.t fr the purposes aforesaid the President and Di-
roctoTs of this Company be authorised to borrow
money. to issue Certificates or other evidences OF
snch loans, to make the same convertible into the
Stock of this Company at tne pressure IN Ens
of the same and to pledge the property OF the Com
v for the payment of the same with Interest; 1t Is
therefore -:
Comuany, or a majority OF them, be and they are
hereby authorised and empowered for and In behalf
of bis Company to borrow sum not exceeding in
tbeaCoreoate Ell hundred thousand dollars $SOO,
OOO and to issue as evidences of such loan or loans
as NAV be negotiated by them by virtue of this reso-
lution Certificates Bonds to be signed by the
President and auesed by the Corporate Seal OF this
Companv which said Certificates or Bonds shall be
redeemabIe or PAYABLE not less than ten, nor more
than twenty wears from their several and respective
dates; shall bear interest not exceeding seven per
centum per annum, payable seml-annually, and the
same shall at the pleasure of the holders thereof be
convertible into the Stock of this Company at its par
value.
Resolved That to the payment of the certi6-
Gates of loan or bonds aforesaid to be issued,
and also of the interest accrung on the same, the
President and Directors of this Company be and they
are hereby authorised and empowered to execute
deed of mortgage transferring all and singular the
real and personal estate, property and effects now be-
longing to this Company, and subsequent deed OF
all the real personal property or effects which may
be acquired by this Company from the proceeds of
the sales of the certificates of loan or bonds to bels-
sued as aforesaid in which said several deeds, all
such covenants conditions. uses and trusts shall be
contained, the President and Directors shall
seem expedent and proper.
On notion the Secretaries of this meeting, with
VIM A. Wright, Esq. were appointed Committee
revise for publication the proceedings of the Stock
holders at their meeting in Marion Court House, S.
G., on the 18th of March, 1851, together with the
proceedings of this meeting.
On motion of Gen. Alex. McRae the meeting was
adjoured sine die. FRED. ]. HILL, Chan.
; JOHN McRAE, jr.,, Secretaries.
IALCOTT BURR.
CAPE FEAR AND DEEP RIVER Nav. COMPANY.
PITTsBoRoUGH. April 8, 1851.
Mr. LoRING: 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 season. We all regretted much
that Wilmington was not present, either in the per-
sons of some of her enerprsing citizens by proxy
The Meeting was called, as you are 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 neces
sary place the line force of 300 hands during
the working season. when the waters fall, and that
to pay this force, would require twelve fifteen thou
sand dollars monthly.
This communication submitted to GU Meeting
on Saturday last, by the President. Whereupon,
Resolutions were introduced and unanimously passed
to the effect, that the Meeting were in favor of
prompt and vigorous prosecution of the work. during
d
structlng the Board TO borrow. if necessary, sum
OF money, not exceeding $4,000 for that purpose
and In case should be necessary for the members oil
the Board to borrow the money for the Company, or
their individual responsibility the resolutions go
to pledge the remaining instalments due on subscrp
lions OF Stock &c. &C., as an indemnity to them
The work will 60 now and be finished There
will be 500 hands on the line.
Very Truly Yours, ]. J. JACKSON.
ANNUAL MEETING OF THE F. AND w. PLANK RoA1
COMPANY. On Thursday last the I'd Annual Meet
ing of this Company took place in the Hotel Hall
The Hon. J. G. Dobbin was unanimously appointet
Chairman, and Mr.. John NJ. Rose Secretary.
Nearly $500 to 1000 shares were represented il
person or by proxy The States proxy was held b.
Wesley Jones, ESQ.,, of Wake.
The annual report of the President and Director
was submitted and read by E. L. Winslow, Esq
PRESIDENT OF the Company. From it we CLEANED tn
following facts.
the State and $4,000 by individually the STATE h.
paid 100000, and individuals SS5, 63s II. Leavin
Que by the State 100000, and by individuals $44
36I SO.
Tolls have been collected on only 10 miles-on
miles of that distance during the whole year, and
the remaining miles during months. The gro
amount of tolls collected is $27ls A, from whit
deduct, paid toll-keepers $500, leaves $241s A
the net earnings on the 1s miles Of road-(equal
about nine per cent. on the cost of that part of
road.)
The number of vehicles which passed through
toll.gate at this place during the year is 9,546.
The Z resident expresses the confident belief, Il
out Tor the failure of the grain crops the income
me T road would have been double what it has been
ne s, COST OF the Road to Little River, 1873 mil
was $l9,46s So. Of the miles beyond Little r
er S7,727 IS. Of the 23R miles to Carthage SO
6SS %: 10 this should be added, cost of bridg
right OF way, toll houses, land, &c., which, with
above amounts Of $57,ss5 Is, makes the entire cost
miles IN MOI
average of $149s 27. CTo this will have to he .,
ed small amount for reducina sonaa &c H. 80