The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1854-04-07
local MATTERS.

KENT of Louisa, and j. GARRETr, and c. J. METH
INLAND of Richmond, were appointed Secretaries
While the Secretaries were engaged arranging
and preparing the proxies JAMES LYONS, Esq !,
who felt assured of the presence oil quorum NOV
ed that President FoNrAINE proceed TO read the
port to be submitted on the occasion, In order
that the Committee, to whom It would be referred
might be acting upon it while other business was
being prepared.
The motion, on being put, was carried in the
affrm native.
President FoNTArNE then read the report q syn
opsis of which we subjoin.
The Report recapitulates the fate of the applica-
ton to the Legislature for aid and states the object
of calling the general meeting to be to provide for
the exigency in which the Company is placed by
the failure ofthe Legislature to aid them Is es1
mated that deficiencies for which provision should
be Immediately made amount to S99o, 0OO.-
It Is proposed to raise this partly by subscription
and partly by loan upon mortgage OF the proper
ty of the COMPANY. Richmond ana some OF tne
western counties are expected to make subscrip
tons.
secuon OF their road and defeat the connection by
way of Covington with the Ohio urges that the
Company should push the Central Road with more
yigor than ever to defeat the schemes hostile to it.
The question about dividends to the old Stock
holders the operat ous OF the finished part of the
road is discussed The principle it is alledged is
just and it is stated that the dividends that have
been made do not include all the nett profits $685.
357 SO remaining reserved out of the surplus fund
applicable to superstructure &c.
Mr.. LYONS moved that the report just read be re-
ferred to .scommittee of nine with authority to
suggest such action as might be deemed necessary
for the Stockholders to take. Carried.
The Chairman then appointed the following gen.
tlemen to act as the committe of nine viz: James
Lyons of Richmond; Gen Gordon of Albemarle;
Mr.. Hunter of Louisa Col Dimmock of Richmond
Williams Wickham of Hanover; DR.. Woods of
Albemarle: Mr.. Imboden of Augusta; John Tim
berlake of Albennarle and j. J. Amber of Madison
tto m hono furpiahod with ~
the report, retired for consultation.
DAVID ANDERSON, jr.. one of the Directors, Of
fered the following resolution, which was referred
to the committee of nine:
Resolred, That it is expedient to make annual
cash dividends OF the net profits of this company.
Mr.. PAGE of Hanover, offered the following re-
solution, prefacing it with few pertinent re-
marks:
Resolped. That committee of five be appointed,
who shall take into consideration and report atthe
next regular annual meeting of the stockholders
whether reduction of charges for freight and
transportation on the whole road, and especially
the way travel would not add to the profits of the
company.
Mr. ]. H. McCuE, of Augusta, offered the follow
ing as substitute for Mr. PAGES resolution, which
was accepted by the mover of the first:
ResOlUed, That the President of this meeting an.
point committee of three stockholders to report
what action, if any, should be taken by the stock
holders in relation to the tariff of rates passen
gers and freights on the Virginia Central Railroad
4,
offered the following a substitute for Mr. McCue's
resolution:
Resolced, That the Board of Directors of this
company be and they are hereby instructed to re-
wise the tariff Of tolls upon freight well as upon
passengers, recently enthusiastically them, with
view to ascertain what reductions, if any, may be
made therein, consistent with the interests OF the
company.
the Directors would revise the tariff of tolls and
reduce them if they deemed it expedient to do SO,
and he therefore moved to lay the resolution and
substitute on the table.
The question was then put on Mr.. McGruder's
motion and lost
A vote was next taken ON Mr.. Sktnner's substi.
tute, and it was adopted.
DR.. BnowN invited the attention of the Directory
to the present tariff on corn and remarked that
farmers in his neighborhood were debating the
question whether it would not be cheaper for them
to haul it in wagons to the canal, and send it to
market in that way, than to pay the present rates
on the railroad.
Dr. NELSON offered the following resolution;
ResOlred, That it be referred to q committee of
three stockholders to enquire into the manner in
which the transportation of freight along the road
is manageable confer with the President and Di
rectors upon the subject-and to report thereon to
the President and Directors at as early day as
possible, and also to the next annual meeting of
the stockholders, with any recommendation touch
ing the same which may seem to said committee
advisable-and that the said committee pending
| the said examination be allowed the per diem
improvisation paid to Directors, and to pass free
over the road.
MI. WOOD offered as substitute that the sub.
ect matter of the above resolution be referred to
the committee appointed at the last annual meeting
| to examine the condition of the road. Lost.
Ms. PAGE moved to strike out the per diem
Lost.
The vote was then taken on the resolution and
carried in the affirmative
The Chairman then appointed Messrs CHRIS
TAN OF Augusta, PAGE OF Hanover, and WooD of
Albemarle, as the committee of three to act upon
the resolution of DR.. Nelson.
The Secretaries, on being called upon, reported
that the total number of votes were 75S3-neces
sary to choice 1897: Of this number the State
proxies gave 3o37, while the number OF proxies
listed amounted to l066-the two combined being
more than quorum, without the votes of the indi-
vidual stockholders who were present.
tbeing ascertained that the committee of nine
were not prepared to report the meeting adjourned
until half past 4 o'clock, P. NJ
AFTERNOON SESSION
At half past o'clock the meeting was called to
order by Gen. PEYToN chairman, when JAS. LYONS,
Esq , from the committee of nine, arose and in a
few neat and appropriate remarks, presented the
following resolution:
Resolued, That the President and Directors of
this Company be authorised to raise by sale of
the Company's bonds or otherwise, such sums of
money as the necessities of the Company may re-
quire from time to time not exceeding in the ag-
gregate one million fire hundred thousand dollars;
ana tnat TO secure the payment OF the pflncpal ana
interest thereof, they be further authorised and
empowered to execute general mortgage on the
entire property of the Company Prorided, That
the bonds OF the said Company which may be is
sued shall be payable in not less than thirty years.
The question being taken on this resolution, it
was unanimously adopted.
Mr.. Lyons, from the same committee, to whom
was referred the resolution of Mr.. Anderson rela
tive to the cash payment of dividends, presented
the following resolution, which was also adopted:
Resolced, That it is inexpedient at this time to
adopt any resolution on the subject of dividends
that being subject proper to be left at present to
the wisdom of the President and Directors
Gen GORDON thought the course just taken by
the stockholders would do more to increase public
confidence in the Company and raise the price of
the stock, than any thing that had yet been DONE
He spoke IN warm terms of the effect of the i'm
provement upon the commercial prosperity of the
State, and urged its friends to active exertions.
Col FoNTAISE offered the following resolution,
which was passed unanimously:
RESOLVED, That the thanks of the meeting are due
to the Chairman and Secretaries for the courtesy
and fidelity with which their duties have been dis
CHARGED