Loudon free press. (Loudon, Tenn.) 1852-1855, 1854-01-17
STOCKHOLDERS CONVENTION.

At the annual convention of Stockholders of
the East Tennessee and Georgia Railroad Com
pany, held at the Office in Athens, on Monday
the I'd day of January, 1854, ON motion, VIII
LIAM GRANT, Esq, of Bradley county, was call
ed to the Chair, and j. A. COFFIN, of Monroe
and W. S. CALLAwAY, Of M'Minn, were appoin
ted Secretaries.
The annual Reports of the President, Engin-
eer and Treasurer, were submitted, received
and one thousand copies ordered to be publish
ed in pamphlet form.
On motion, the Presidents report was refer
red to a committee consisting of the following
gentlemen, to wit: A. G.. Jackson, D. w. Bal
lew and J. R. Howard, with instructions to re
port, who submitted the following:
The Stockholders of the East Tennessee and
Georgia Railroad have heard with much pleasure
the annual Report Of the President of the com
pany, and rejoice to see that the general condi
ton of the company is so rapidly improving, and
that the prospects are so bright for an early re
muneraticn upon their investment. The earn
ings of the road for the fiscal year just closed
are highly satisfactory. and present an earnest
that the predictions of the President as to the
future profits Of the con- pany will be more than
realized. The stockholders now begin to view
their stock as an admirable investment of capi
tai, and congratulate themselves and the State
that dividens for so many years deferred, will al
length soon be realized, and that the amount
they have invested, which they have so long
considered in the light of mere donation for
the public benefit; has at length assumed the
character of property, and in future may be re-
garded as a source of profit.
The stockholders appreciate fully the sugges
tions of the President in reference to the claim
Ge6rgIT rrtAft,' g90n the instiee of the State O
Railroad, and upon her hberality in the adjust
ment of a fair tariff of charges upon her grea
State work, so as not to discriminate to the in
jury of our interests and in favor Of the termn
us of her road, when such discrimination Is not
source of profit to herself. They feel, also
that protection is due from the State of Tennes
see to that portion of the Georgia road which
lies within her limits, and that our Legislature
should at its present session take such action as
may prevent in future unjust annoyances TO the
State of Georgia in the matter of their road, IN
whatever way they may present themselves, or
to the citizens of Georgia while IN the peace.
ful discharge of their duties as officials of said
road And it is equally to be hoped that the
Legislature of Georgia will adopt similar meas
ures in reference to our agents whose business
confines them within the territory and jurisdic-
Resolred, Therefore, that our acknowledg-
mentS are due to the retiring Board for their ef
fcient management of the road during the past
year, and hereby assent TO the suggestions OF
the President that dividends shall hereafter be
declared semiannualy to the stockholders.
Resolred, That it will meet the hearty concur
renee of the stockholders should the President
adopt such measures as he may deem most ex
pedient, to bring to settlement the claim o
the company against Georgia as to the Union
Branch Railroad, and to accomplish q satistac
tory rate of freight charges, so that our road
may be placed upon an equal footing with other
means of transportation connecting with the
Western and Atlantic Railroad.
Resolred, That the Legislatures of Georgia
and Tennessee lie requested to pass laws which
will prevent unjust annoyance in every shape to
each road under their Jurisdiction; that the wor
king of the two roads may be done harmonious
", and that unnecessary strife may not be en-
gendered between citizens of the respective
States.
On motion of T. ]. CAMPBELL, ESQ.,
Resolued That in the event the present Leg
islatnre pass law authorizing the East Ten
nessee and Georgia Railroad Company tC
change the time of their annual Convention
we hereby accept such law, and agree to receive
the same as part of the charter and laws of sale
| Company.
The Convention the ad journed.
WILLIAM GRANT, Chm'n.
IA, COFFIN, Secretaries.