The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1853-12-16
LOCAL MATTERS.
P.ruuorD .uDD.ny,,,r

RICHMoND AND DANvILLE RAILROAD COM
pANY.-The Stockholders of this Company met at
Odd Fellows Hall, yesterday, at II O'Clock, pursu-
ant to adjournment, when the meeting called to
order by the Chairman.
Mr. Mactarland, from the Committee to whom was
referred the Presidents Report and other matters,
informed the meeting that the Committee had dis
charged the duties imposed upon them, and be gged
leave to offer the following resolutions
Resolred In view of his gratuitous services here
tofote and of their eminent importance to the Com
pany, and of the large gain of the Company by his
Judclous agency abroad in the purchase of iron rails
that two thousand dollars be voted to Mr.. A. +. D.
Clifford, acknowled gment of his ealous and eff
ficient devotion to the interests of the Company.
1.-THE resolution being put to the vote, it car
ried by accamatior; and we may add, the testimony
an appreciation of the services of faithful off,
and tried friend was most deservedly bestowed
Resotred, As the entire means of the Company are
for the present required to complete the road that
it would be inexpedient now to declare dividend
notwithstanding the profits which have accrued
would authorize dividend of five per cent and that
account of the annual profits hitherto and as the
same shall hereafter accrue, and be invested in the
WORKS OF the Company, be SO kept as that the same
may be spportioned hereafter among the stockholders
according the dates of the requstions upon ther
stock.
[Ate some little discussion and explanations by the
Chairman, the above was adopt ed.
ResolUeG That as the charter does not seem to nu-
thorise the Office of Vice President the same be dis
continued and that the Board of President and D-
reCtors des gnate the member of the Board who NAV
act for the President in his absence, in countersgn
ing checks and other official acts: and that such me-
derate compensation be allowed by the Board for his
extra services as shall appear proper.
1.-THE reader will remember, that on the first dav
of the meeting, Mr.. Clifford, the Vice President
brought this subject up by resolution believing that
no necessity existed for having such officer. The
resolution on being put to vote, carried
ReSoiUed That the President apply to the Legisla-
ture for authority to construct q Branch Road into
the county OF Patrick from Danville, some other
point the main road, and for subscription by the
State of threetths of the cost of constructing and
equipping such Branch.
THE Importance of this great improvement was
a holders that
admitted the necessity of its immediate construction
Passing through ofthe largest tobacco and wheel
growing counties in Virginia, and bordering on other
counties in North Carolina, which would readily
it the most direct outlet to the Atlant
ocean, IFS friends were sapguIne that It would prove
profitable inv yestment to the State while it would
afford ample of communication to a large tax
pay ing community who had never been favored with
an Improvement of any kind by the legislature
Justice demands that the Legislature should give
the required aid to these people which they now
asked for, and whatever the fate of other schemes
now pending or 10 be brought forward it would seem
strange indeed if the people along the line of this
Branch should be refused assistance in work of sue
infinite Importance to them and to all Virginia The
resolution was adopted.
The President. SaLaFy-Mr. Haryie, of Amelia,
offered the following resolution:
Resotred That from and after this time the salary
of the President shall be at the rate OF 5000 per
mum.
Mr. Tunstall was opposed to the resolution He
not now the President of the Company, but hav-
ing filled the Office for several years back, he ap-
proaehed the subject with embarrassment He
thought the amount proposed, under the present
condition of the finances Of the Company, more
than could we'll be afforded and IL the stock holders
were satisfied with his services, he was willing to
continue his poor ab ities for the paid him.
Mr. L. X. Watkins offered the folio owing u substi-
tute;
Resolred That the salary of the President shall be
$3.50 per year.
Judge Crump, and Messrs. Maefarland Harvie and
other gentlemen opposed to the substitute The
sum OF 5000 was more than q fair compens
for the services of the distinguished gentleman who
had labored arduousy for the of the great
work. Even that amount would barely afford him q
support and they could agree, Notwithstanding
the objections Of Mr. Tunsts that be should BE- 70.