Weekly North Carolina standard. [volume] (Raleigh, N.C.) 1850-1858, 1851-11-26

THURSDAY, Nov. l3. 1851,
Inc Stockholders Of the WILMINGTON and Raleigh
Ied,oao company, in conformity with the previous
bled, r@' "'"s '"'' ''J "'''"''
On motion Of Gen. Alex. McRae, Rice B. Pierce.
Esq, of the county of Halifax was appointed Chair
man, and w. A: Wright and M. London, were ap.
pointed Secretaries. "r
On motion Of L. H. B. w hi,aker, ESQ.,.
The Secretaries were appointed committee to ex.
anime Proxies, andascertan the number of shares OF
this company represe nted at this meeting.
The Secretaries as committee to ascertain the
amount Of stock represented at this meeting reported
that lO.927 shares were represented, of which 5,797
represented by the holders in person, and 5l30
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. Hariee, al The President Of the Viii
mington and Manchester Railroad Company appear
ing as the representative Of the stock of the Company
held by said Wilmington and Manchester Railroad
Company,
On motion of A.. ]. DeRosset Jr, it was
Resoloed, That this meeting recognize w. W..
Harlee, the President of the Wilmington and Man
chester Railroad Company as 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: G. Battle Esq, the following res
Resoued. That the States proxy is only entitled to
represent four hundred thousand dollars worth of the
capital 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 was adopted
WHEREAS, The State of North Carolina has here
tofore owned t,0o.hs Of the Capital Stock of this
company and by virtue of her interest in the same has
exercised n off
tors of this company, and the right to cast taOohs
Of the votes given at the general meetings of the
Stockholders of this Company. And whereas, the
State has parted with oneird of the Stock hereto
General Assembly authorizing the transfer of this
stock is silent as to the power of the State 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 t,uohs of the
Directors of this Company, and the OF
whole number of votes give this meeting, against
which claims this meeting protests. 1t is therefore
Resoiued, That the next General Assembly be re-
quested to remedy the evils so existing by limiting
the power of appointment of Directors the part Of
the S.ate and the of the representative of the
State at the general meetings of the Stockholders,
cordng to the ratio of the interest of the State nhis
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,
Resoived, 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 appo nted at last meet
ing to audit the accounts of the Treasurer, SUBJ
mitted by Col. John McRae, Chairman and on mo-
ton of Dr. F. J. Hill, it was resolved that said re-
port be received.
On motion of Dr.. F. ]. Hill, the meeting procee-
ded 10 the election of President and six Directors of
this Company, when Gen. Alex. McRae was 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 representative of the State.
The following persons Were elected Directors on
the part of the individual Stockholders Edward b.
Dudley, Edward P. Hall, Platt K. Dickinson, Gil
bert Potter, A. J. DeRosset, Jr., and WIN. A.
Wright.
The meeting then adjourned to meet at 9 O'Clock
tomorrow morning.