Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1855-03-14


DEEP RIVER NAVIGATION COMPANY.
At meeting of the Stockholders of the Cape
Fear and Deep River Navigation Company in Vii
mington the 9Th March, 1855,
On motion, Col. John McRac was called to the
Chair, and Henry y. London and Joseph r. Bios
appointed Secretaries.
On motion, the Secretaries were appointed a Com
mittee to ascertain the amount OF stock present, in
person and by proxy, and duly reporting large
majority of the whole stock to be present. the meet
ing proceeded to business.
On motion, the report of the President to the Lee
gislature read and brief statement of the pres
cnt position of the Company allrS made by John
II. Haughtor.
The Treasurer's last report to the President and
Directors read.
On motor, the Chair appointed Finance Com
mittce of five to examine and report the present
condition of the company the amount and charac-
ter Of its liabilities, and recommend some plan by
which the same may be either liGuidated or funded;
the amount ofindividual subscription made and paid
in and if any, the amount still due; also, whether
the amount Of the Bonds to be endorsed by the State
will be sufficient to complete the wo k, and put 1t
in successful operation, and to recommend any 9TH
or plan for the relief OF the Company. The Chair
appointed as said Committee: j. Ii. Haughton, p.
X. Dickinson, A. j. DeRosset, jr,- A s. Mcneil,
Hon. Abram Rcnchcr. On motion, the Chairman of
this meeting and the President ofthe Company were
added to the Committee.
y Resolution offered by b. l. Howe to appoint
an additional Committee was debated, and after va
rious amendments was adopted, as follows: That an
auditing Committee of three be appointed to exam
inc into the affairs of the Company and to make
full and detailed report of all the moneys expended
by the Company from its organization to this date,
of the various items of expenditure all the liabilities
of the Company of every character, together with
the evidence of all such liabilities and to report to
next meeting and said Committee shall receive S.
per day for their services Nath'l Clegg, R E. Rves
and ]. H. Scott appointed as the Auditing
Committee.
On motion, the meeting adjourned to meet next
day at 10, A. NJ
FRIDAY MORNING.
Met according to adjournment, Chair called meet
ing to order On motion, the amendment to the
Charter was read.
On motion, the report of the Finance Committee
was read and received After debate on the resolu-
tons, the following adopted.
HesoLued LIST. That, in the opinion of this meet
ing it is eXDedient for the Company to issue
thousand shares of additional Stock to be preferred
stock with interest guaranteed at per cent. per
annum, to be calculated and paid from the time of
payment of the several instruments. The holders
of said stock to share equally with other sharchol
ders whenever the dividends of the Company exceed
per cent the whole capital Stock including the
interest guaranteed as above.
I'd. That a committee Of II persons be appointed
to receive subscriptions for the said preferred Stock
and at same time, to raise company of fifty indi-
viluals, or associations to make up in equal sums,
the whole amount required, and which may not
have been otherwise subscribed previous to the next
general meeting of the Company, the subscription
to be paid as follows :-One-eghth in cash so soon
as these proceedings shall have been confirmed by
general meeting Of the Company, and the balance
in instruments of oneeighIh each, in 3, g. g. Is, 81
80 and Sc months thereafter. if preferred
by any subscriber. Provided, that any acknowl-
edged claim against the Company shall be receiva-
bic as cash in account of said subscriptions. And
further provided, that the company may at any
time after three months notice call in and redeem
onehalf the preferred stock and reissue the same