Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1854-11-17
nhe stoeI<hoIders, MeetIng.

The official proceedings of the meeting held at the
Court House yesterday have not yet been received
We state the substance of the most important bust
ness. The report of the President and Directors was
received and referred to committee, who made re-
port thereon, through their Chairman, DIR. +. j..
Hill resolution, instructng the President and
Directors to memorabilia the next Legislature for an
amendment in the Charter of the Company giving
the election of the President to the Board OF Direc-
tors, was negatved by large vote. resolution to
raise the salary of the President to s. $780, also
amendment to that resolution making it 3,OOO were
lost
At the evening session, commencing at o.
clock, an election was had for President and Board
of Directors Hon. VIM. S. Ashe, having received a
majority of all the votes cast, was declared duly
elected President of the Company for the ensuing
year. The candidates voted for were-Hon VIM. s.
Ashe, VIM. A. Wright and John c. McRae, Esqs.,
and General James Owen. Previous TO the vote Of
the State having been cast the vote Stood nearly
as we recollect, about as follows Mr. Ashe, some
thing over thrty-one hundred Mr.. Wright between
twenty.nine hundred and three thousand-the bal
ance of the individual Stock being divided between
Mr. McRae and Gen. Owen. The State then voted
for Mr.. Ashe, which gave him decided majority OF
all the votes cast
After the election of President, the Stockholders
proceeded to the election Of Directors. the old
Board being elected with this difference, that Gene
raj Alexander McRae was chosen in place of Mr.
Wright, who has been appointed Director on the
part of the State.
A resolution for the establishment of an Office il
New York, for the transfer of Stock was lost. The
recent Schuyler Developments have destroyed con
fdence in New York Transfer agents.
We believe that we have given the gist Of the do
ings the report of the Secretaries which will probably
be ready for publication tomorrow, will furnish thu
details, which will no doubt be found interesting
Having given the most essential items we do not care
to occupy our space by anticipating that report.
Naturally enough perhaps, there was some feeling
in regard to the election of President But this will
pass away to great extent, as it is the obvious IN
terest of all concerned that it should do So and WI
should consider ourselves nexcusable if we willingly
used any expressions calculated TO perpetuate othe
feelings than those tending TO the promotion OF har
mony and goodwill The new President, we fee
confident will have fair showing and we feel equal
ly confident that his best exertions will be used tt
Justify the choice which has been made, and to merl
the confidence reposed in him.
A sense of Justice demands that we should accor(
to General McRae the mede of praise which he ha
fairly earned by the faithuness and ability display
ed in his long and successful administration of tn
affairs of the Wilmington and Raleigh Railroad com
pany as its president He carries with him into hi
retirement the respect and gratitude of the Stockhod
ers. Daily Journal, 10th inst.