North Carolina standard. [volume] (Raleigh, N.C.) 1850-1852, 1851-11-22
WILMINGTON & RALEIGH RAIL ROAD.

-. ...s- ... - THURSDAY, Nov. 13, 1851.
/ The Stockholders of the WILMINGTON and Raleigh
Railroad Company, in conformity with the previous
resolution OF this Company, having this day assem-
bed, - r..s ~ -
On motion of Gen. Alex. McRae, Rice B. Pierce
Esq, of the county of Halifax, appointed Chair
man, and w. A. Wright and M. London, were ap-
pointed Secretaries.
On motion of L. H. B. Whitaker, Esq.
The Secretaries were appointed committee to ex.
anime Proxies, and ascertain the number of shares oil
this company represented at this meeting.
The Secretaries as committee to ascertain the
amount OF stock represented at this meeting reported
that 1927 shares were represented, of which 5,797
were represented by the holders in person, and 13O
by proxy.
Whereupon, it appearing that more than majority
of the shares of the capital stock represented
the Chairman declared the meeting as duly organized
for the transaction of business.
Gen. w. w. Harlee, as the President of the Will
mington and Manchester Railroad Company appear
ing the representative of the stock of the Company
held by said Wilmington. and Manchester Railroad
Company,
On motion of A. ]. DeRosset Jr, it was
ResofUed, That this meeting recognize w. w.
Haree, the President of the Wilmington and Man
chester Railroad Company the proper representa-
tive of the shares of the capital stock of this Compa-
ny held by said Wilmington and Manchester Rail-
road Company.
On motion Of C. c. Battle. Esq, the following res
olution was submitted
Resolued, That the States proxy is only entitled to
represent four hundred thousand dollars worth of the
ca pital stock of the said Company.
After an extended discussion this resolution was
laid on the table.
On motion of DR.. S. P. Suggs, of Edgecombe, the
following Preamble and resolution adopted:
WHEREAS, The State of North Carolina has here
tofore owned tUoJths of the Capital Stock of this
company, and virtue of her interest in the same has
exercised the right appoint tavOffhs of the Direc-
of this company, and the right to cast taDe-hs
Of the votes given at the general meetings of the
Stockholders of this Company. And whereas, the
State has parted with onehird of the Stock hereto
fore held by her in this Company, and the Act of the
General Assembly authorizing the transfer of this
stock is silent the power of the State to appoint
Directors and TO vote at the general meetings OF the
Stockholders of this Company; and whereas, the
State yet claims the right to appoint ttUoths of the
Directors of this Company, and the representative OF
the State claims the right to give t,OoJ5ths of the
whole number of votes given at this meeting, against
which claims this meeting protests. 1t therefore
Resolved, That the next General Assembly be re-
quested to remedy the evils existing, by limiting
the power of appointment of Directors the part of
the State and the votes of the representative of the
State at the general meetings of the Stockholders ac
cordng the ratio of the interest of the State in this
Company.
The annual Report of the President and Directors
of the Company, with the accompanying documents
was then submitted to the meeting.
On motion of Dr.. S. P. Suggs,
Resolved, That this meeting unanimously approve
of the action of the President and Directors of this
Company, declaring dividend of profits of three per
cent, payable to the Stockholders.
The report of the committee appointed at last meet
ing to audit the accounts of the Treasurer, SUBJ
mtted by Col. John McRae, Chairman, and on mo-
ton of DR.. F. J. Hill it resolved that said re-
port be received.
On motion of Dr. F. J. Hill, the meeting procee- |
ied the election of President and six Directors Of
this Company, when Gen. Alex. McRae duly |
elected, he having received 6,4s6 votes being the
tire vote cast by the individual stockholders, and |
John Campbell, having received 1924 votes cast by
The of the State.
The following persons were elected Directors on
The part of the individual Stockholders: Edward B.
Dudley, Edward P. Hall, Plat K. Dickinson, Gill
pert Potter, A. J. DeRosset, Jr., and VIM. A.
Wright.
The meeting then adjourned TO meet at 9 o'clock
morning.