Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1853-08-03
ANIMAL MEETING

fomnany. in conformity with the provisions Of their
Bylaws, met in Salisbury on Thursday, the l4tn OF
July, 1858.
organized by electing William A. Graham Chairman
Upon motion Rs Gorren and SsF. Pnlihps were
elected Secretaries
informally that majority of the shares held by pr
vate Stockholders was represented IN this meeting
bv more than one hundred individuals in person or
by Droxy; upon motion of r. M. Saunders H. c.
ZONES Daniel Coleman and F. Fries were appointed
a committee who with the Secretary of the Com
pany, should verify the proxies, and make their re-
port to this meeting.
Upon motors of R. Barringer, the President of the
Company was requested to submit any report which
had been prepared for the information of the Stock
holders. Whereupon John NJ. Morehead submitted
the following report, which was read and upon mo-
ton of j. w, Ellis laid upon the table.
REPORT
OF the President and Directors Of the North Caro-
Tina. Rail Road C0napGny to the Stockholders at
the Apanual Meeting held in Salisbury, 14th July,
(SENTIE,rEN: Since the last Annual Meeting of your
body the Directors ascertained IN December last that
the sum of five hundred thousand dollars had been
paid into the Treasury of the Company by the ndl-
vidual Stockholders, which fact was duly certified
under the seal of the Corporation to the Board OF
internal Improvements, required by the Charter
The subscription of two millions of dollars to the
Capital Stock of this Company on the part OF the
State, was forthwith made by said Board; ana the
Public Treasurer has paid into the treasury OF TINS
COMPANY five hundred thousand dollars on the part
of the State of which four hundred thousand were
paid prior the 1st instant and one hundred thous
and since.
= From the high credit of State and the premi-
um at which her Bonds sell, and from the assurance
on the part of the Public Treasurer of his determl-
nation to meet the engagements on the part OF the
State with promptness, the Stockholders may rest
assured that percuniary embarrassment will retard
their operations as long they faithful to them
selves.
viii be recollected that the contract for the COM
pcton of the entire Road, the first Division, was
let to Messrs John c.. AIcRae & Co. the work to be
finished by the first of january next In conse-
quence of the delay of the arrival of the iron at an
early day of the present year, the contractors were
prevented until within few weeks past, from lay
ing down the tract; considerable quantity OF IRON
having arrived and the laying OF 1t upon the Inc OF
the Road having commenced, 1t Is to be noPeo theTe
will be further delay in the progress of the work
The Board extended the time to the first OF April
next for the completion of their contract on this
Division account of the late arrival of the IRON
GRADING.-On the other three Divisions OF the
Road the grading is progressing rapidly, and with
but very few exceptions, it is believed will be finished
within the time limited Should any contractor be
likely to delay the laying down OF the
of any part of the Road by failing to grade his con-
tract in time he will be required to put on adduonal
force sufficient to do the work.
MAsoNRY.-The Stone Bridges at Bull Run and
Sugar Greek, and the Abutments and Piers Tor the
Bridges at Rocky River Caudle Creek Irish Buffalo,
and the Yadkin River are finished The masonry of
the Culyerts along the whole line is mostly finished
The abutments and piers for the remaining Bridges
progressing, and will be completed douotleSS by
the time they will be needed.
ssSUPERsTRUcTuRE-Co for the superstructure
ofsthe Bridges at Rocky River, Caudle Creek Irish
Buffalo, and in Yadkn River, have been agreed upon,
but have yet been reduced to writing which will
be done in due time. Contracts for the superstruc-
ture of the remaining Bridges will be made as soon
as the interests of the Road may require.
"A trac Thousand
to be put on ship-board in the months of March,
April and May last destined for the Port of Charles
ton made last October, with Messrs Baily, Bros
& Co., of England, at the price OF $44 70 per ton,
delivered upon the wharf at Charleston, free OF all
charge except the duty, which this Company to pay
So far this Board is in possession of no advces OF
the shipment of any portion of the lron but the con-
tractors, Messrs. Bay, Bros Co., by their agents
the Board of their anxious desire to meet their
engagements but are prevented from doing so from
the imPossiblity OF procuring shipping at ! even
two weeks past their agent visited the office of this
Board and assured the President that the iron was
ready for Shipment which would be done at the ear
lest possible day.
Arrangements were made with the authorities of
the South Carolina and the Charlotte and South
Carolina Rail Roads, to deliver this iron promptly in
Charleston at any time between April and Septem-
ber but it is to be feared that some delay may be
experienced from the great press of business upon
these Roads after September, should the iron not
rive in time to be transported by that period. But
from the courtesy and Kindness manifested towards
this Road it is believed these Roads will do all in
their power to forward the iron at early day
practicable.
The 5000 tons purchased by the Contractors on
the first Division of the Road, in progress of
being laid at the eastern end and this 900 tons to
be shipped Charleston for the western end of this
Road will be as much or than be laid down
during the present year.
SILLs.-Contracts for siIls have been made the
whole line of the Road, with the exception of few
Sections, some of which delivered, and many
more ready for deivery-and there is probability
of any delay on their account.
Since the last meeting of the Stockholders two
instalments, of five and one of ten per cent, up
on the stock o.. the Company have been required
making sixty per cent, including the five per cent
paid at the time of subscription.
The requiston of the last ten per cent. became
absolutely necessary in November last to bring the
State in at early day, of the stockholders
were defnquent and others refused to pay unless
they were released from the interest exacted under
resolution of your body at its last meeting The
Board to induce immediate payment, suspended the
collection of interest and agreed to refer the matter
again to your body, which is hereby done.
The Legislature at its last session passed an Act
entitled, " An Act to amend Act entitled An Act
to incorporate the North Carolina Rail Road Com
pany."
The question of the acceptance or rejection of this
samended Charter is one of vast consequence to the
interests of this Company and your wisest counsels
are invoked in the determination of this important
question.
Contracts for a locomotive and cars have been
mad 10 Irr3A L.