North Carolina standard. [volume] (Raleigh, N.C.) 1850-1852, 1851-11-22
FRlDAY MORNING, 9 O'Clock.

The meeting met according to adjournment.
RESOLVED, that all matters connected with the decla
ration of future dividends of profits payable to the
and the creation of sinking fund.- for the
payment of the debt of this Company be referred tc
the President and Directors of this Company.
On motion of w. K. Lane, Esq, Messrs. John
McRae, H. Mutt, and M. FerralI, were appointed tc
audit the accounts of the Treasurer for the coming
year.
On motion of w. K. Lane, ESQ.,,
ResO!veG, That the thanks Of the meeting ten
dered to the Chairman and Secretaries for their re-
spective services.
On motion of Dr.. S. A. Andrews the meeting ad-
iourned.
The STOCKHOLDERS MEETING AND THE STATE
Proxy. We find articles in both the Herald and
Commercial of this morning, in which allusion is
made to the course pursued by Owen Fennell Esq =,
who held the proxy of the State in the late Conven-
ton of the Stockholders in the Wilmington and Ra-
leigh Railroad. We have no wish to enter into any
controversy about the matter. We merely wish to
correct some misrepresentation into which these pa
pers seem to have fallen. In the first place then, Mr.
FenDel acted under instructions whatever from
the Governor unless we consider expression of
opinion as to the extent of his powers such nstruc-
ton. The Governor expressed his opinion that un-
der existing laws, the State entitled its usual
vote. We should think that no one acquainted with
Sheriff Fennell, would believe that he would accept
any proxy unless full confidence reposed in him.
In the second place, are not that Mr.. Fen
nell did even know that Mr.. Campbell was MEM
Der of the Democratic party until after his had
been cast; so that political preuGices could have
had nothing to do with the matter; although if they
had, the Heralds party could have had no reason
complain. AS for personal influences, know moth
ing. We ale not aware of any. The whole amount
OF the matter seems to be that the States proxy did
not wish to vote for Gen. McRae, and he did not do
so. But that he did not wish control embarrass
the action of the individual stockholders, apparent
from the fact that effort made obtain ndi-
vidual proxies, although such might have been OBJ
tanned to considerable extent-nor canvass with
single stakeholder during the whole previous session
of the Convention He did not even state for whom
he going vote. He acted simply to the ex-
tent of the power conferred upon him, and furth-
Their.
When the Herald speaks of IS untried hands and
inferior knowledge, :" we presume it u.eans the ex-
preston general one, it certainly could not refer
10 Mr.. Campbell who is well acquainted with the
affairs of the road as any man connected with it.
AS we have already said, we wish to enter into no
controversy about this matter. We have not inter-
tered, and do intend interfere with it any way,
form or shape. We simply state facts because they
are facts, and are necessary to proper understand
ing OF the case in ponI. AS for. the wholesale ma
lure OF the States proxy, it is strange that it was
never round out beSore. For part. we wish that
me s!a'e could sell ont every share of stock she
Owns IN any and every institution, par 1t would
oe uch pet'er for the State and for the institutions.
Inc connection of the State with incorporated COM
Panles Is always an evil; the best excuse that can be
made for it, is to say that it is sometimes
e'h' --- WI. Journal.