North Carolina standard. [volume] (Raleigh, N.C.) 1850-1852, 1851-07-16
>,onru CAROLINA RAIL ROAD.

We copy from the GreenSooIouSH =
.,v last. the following account OF the Meeting =.
stockholders Of this Road. held in Greensoof0U
an Thursday last: osa Stock
MEETING OF THE STocK-AoLDERs. %onnsny
,.Iders of the North Carolina Kalif31 Irch a. m
hGelS aSse mbed in the Presbyterian Church' d. ="
"s.lock on Thursday, the lOh' me e " cd On
oe.o'n ID hv Dr f. J. Hill, of Bruns%icH' ana on
his motion, the Hon. CALVIN uiare'' - -
called |" PlesI ,Le chair, Mr.. Graves made lew
on aSs"" LIS calculated to produce spirit OF
peis'ue. =; the important deliberations men COM
mencing. .,, c;I,no- Dr Strudwick, of Hills
On ~ I'D q l., Banner, Esq, of Salem, were ap-
D,ed Secretaries OF the meeung'
POM soup,iitee of three, viz: John A. G;imer, r j.
t1;II. and VIM. G. Means, was men appointed 10 eX
NE and report upon the state OF the stock and what
ann we're REPRESENTED in the present meeting IN
pm and by proxy. Alter Il necessarily tedious
p,;Ga,ion they reported 1919 shares of stock rep
raernted-3,s7l in person ana S,44o oy ProNyIahu
upwards CT 0i7
tendance. ~, nL. sc n-,,,o :, ,y,s ra-
1,ad that hereafter at any Annual Meeting the
hoIders shall report themselves and their proX-
M To the Secretary and Treasurer of the Board before
,b hour of meeting, in order that that ofhcer may
rsoort 10 the meeting without delay; =, ,,,
tro President of the Company }. M. Morehead,
,Lan called upon for his report, which he SUBJ
;,d in writing, recapitalang the successive steps
rrpss in the work and referring to tabular state
,s showing the exPend lture already made me de-
iIJ estimates of the work, estimates OF the amount
IT that can be done entirely with North Caro-
~ .teraI 4 list of the eng ineers, &c. ltapPears
@ there has been so far expended the sum of little
Ia Sos 600 only, for salaries, surveys, and every
J;r else on the roue-leavlrg a balance OF over
n,I ooo IF money in the treasury uneXpenGed. lhe
PenoTt and accompanying papers were re celved and
dared 10 be printed with the minutes we snail not
,hrs(ore undertake TO compress the valuable lntor-
lion therein contained into Limited space this
week. .,I ,,;
tih ras adoptpd to 60 into the election Of Direc-
and that suitable names be proposed by the stock
tIJors in specfed districts, according to the plan
Jnntcd a, the first Annual Meeting, in Salisbury.
Mr. Mordecai, of Raleigh, introduced resolution
,bicb was amended by MIR. Gilmer, and as amended
read as follows:
P.SoIreG That no person who is now may he
hereafter contractor, directly or indirectly, secfey
r onpnly in his individual right copartner IN
oor companv of contractors under this corporation,
can without violation of law, act Director IN the
North Carolina Railroad Company and II any Il-
rector thus interested shall be elected that ne be re-
onired 10 qualify himself to act legally as SUCH
An animated and able debate this resolu-
,ion-Messrs Mordeca D. l.. Swain, Ralph Gorrell
ard D. F. Caldwell speaking In support, and Judge
Ellis Gen. Leach and Rev. Il. Mcdonald In OPPOSE
ron The resolution framed with view 10 the
statute of 1928, which makes 1t an IndIctabe mlsde-
rpauor for anv commissioner director on any pub
lie work TO become contractor thereon; and Gov
Swain stated that he prepared with authorities
10 show that contract made in disobedience to the
law is thereby viliated. 1t insisted the other
hand that The stockholders of the Road including OF
course those who should become directors, subscribed
with the understanding that they should have the
privilege Of working out their shares, and that the
directors in every way placed on an equal loot
ing with other stockholders regards contracts-all
ruled alike to the Engineers's estimates. But no
decided opinion against The application of the law, as
contemplated by the resolution, was expressed and
l.. NE,o !, 10,
MORROW morning, in order to give the stockholders
lime 10 consider of it more deliberately.
DR.. Williamson, Of CasweIl, brought to the notice
OF the meeting the programme of proceedings for to-
morrow (the llth) OH the occasion OF - breaking
ground ~ On The Railroad. Whereupon Mr.. Mebane,
of Orange. moved that Calvin Graves be appointed
10 remove the first spadefull of earh and putting the
question, it carried by reclamation.
Adjourned Until O'Clock Tomorrow morning.
FRIDAY MDRNISG.
Judge Ellis and Gen. Leach in graceful terms with
Drew the part ofthemseves and their friends, their
opposition the resolution OF yesterday in regard 10
directors becoming contractors, and the resolution
was unanimously passed.
A committee OF three raised on the revision OF
the bylaws.
Gov. Swain read most interesting letter from the
hon. William A. Graham. which was received with
much applause, and motion of Mr.. II. Z. Jones
ordered TO be entered upon the journals.
Gov. Swain called for more particular information
In relation to the letting OF the contracts and In rea-
non 10 he carrying out oil the Instructions Oh the last
Annual Meeting 10 observe the resolutions OF the
Salisbury, Greensborough, and Hisborough Con-
Henons as 10 preferences in contracts, &c.
Nhereupon President Morelead arose and made
clear Statement, giving detailed information OF The
progress OF the lettings and the principles which
governed them, hereby tappeared that the best was
done that could be done satisfy every Interest and
understanding Involved. His statement was lmPor-
'ant, and propose give at length hereafter or
the Information of the stockholders who were not
present.
MIR. Gmer and Gov. Swain each adverted to the
procuring of the subscriptions the Road, and the
pledges made by the several conventions in favor OF
The Hundred, and Of those who assumed the last
100000 the HiIIsborough Convention. Both
speakers proclaimed the necessity of carrying
cry understanding in good faith, and were warmly aP-
pauded by the meeting.
Nominations for Directors having been made at the
commencement; of the mornings session, and the
votes taken,-ihey now counted out and the re-
suit announced as follows:
Directors far tie enSuiag gear.
WILLIAM G. MEANS, of Cabarrus,
JOHN w. ELLIS, of Rowan,
D. A. DAVIS, of Rowan,
FRANCIS FRIES, of Forsythe,
JOHN W. THOMAS, of Davidson,
JOHN NJ. MOREHEAD, of Guilford,
JOHN A. GlLMER, OF Guiord,
CAD. JONES, Sem, of Orange,
EDWIN NJ. HOLT, OF Alamance,
K. NJ. SAUNDERS, of Wake,
a. r. jenkins, of Craven,
FREDERICK J. HILL, OF Brunswick.
The meeting, on motion, now took recess until
O'Clock this afternoon in order 10 attend the
mony of
BREAKING GROUND.
on coming down street from the place of meeting.
crowd Of people appeared ready for the celebration
Such as We may safely say never seen before in
our Town Tor numbers. Ii was one universal Jam oil