The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1856-12-11

h6Q0ff
nopsis Of which we here subjoin:
President WIrcHEls report IL very brisf and els.,
ana makes very setisfactory exhibit of the affair
OF the road He congratulstes the com psny upon ths
ssmpietlon Of their work By which he says the con
proved, and incaculable bene6t conferred upon the
country through which the road passes The yslus al
isnd has been materially enhanced and the produs.
tions OF that section Of the State wonderfully aus
mented. s
During the last yssr the floating debt of the com.
Pany has been reduced from sl2 4sI to s7s 724 and
nnee the close OF the fiscal year h has been reduced
to about co., The registered bonds uns,d at the
last annual meeting have been disposed of on the
same terms ~ the former sales, and the bonds Of
rlttsylvens and Henry have been sold at 80 cent? In
the dollar. There are S24,sso of Delinquent stocL
about one half Of which may be realized BY sale Of
the stock.
The gross receipts of the road the past year.
762 81
Inc expenses ere..'.................. 2lS 59S 81
Leaving nett profit tof..............s s2Os 1853 7s
being 40 $500 per cent. of the gross amount.
The rosd was opened to Danvie only on the Ist of
Juy TO he Transportation account has been charged
about SS0H-a ossincurred BY collision on the road
on the 18th January last and by the destruction Of
the depot in this city on the same day. The depot
may be rebuilt for sI5ooo; but the Directors have
The arrangements for the prompt TRANSPORTATION
and delivery of frsishts have been steadily improv
nearly finished, the President hopes the freight busi
ness will be greatly facilitated
There are 63 miles of fiat bar rail on the DsnyiI,e
road, which the President thinks should be. At the
proper time, replaced by the heavy rail- He. new
ertheess suggests that this be postponed until After
1850 when the S4ooooo falling due in $500 viii be
debt will be paid besides an annual dividend of s
per cent to the stockholders This estimate IL bssed
uoon the 1uopositon that the nett annual profit of
the road will be sl5e,eoo, which will probably be
exceeded.
In concluson, President Witcher consrstuI.ts. III.
Company thrt not one Of the thousands Of passen.
gers travelling over their road yet lost life or
limb upon it. and that while the road annually trans.
ports millioos OF dollars worth Of property aod more
than $4oo 600 are yearly collected and disbursed by
its agents. but two cases of delinquency have &C.
CURED within the last three years one amounting
to $225, has since been adjusted; the other to 81
02 yet in arresr and suit has been brought upon
the delin quents official bond In both ingances the
delinquents were promptly removed from efice.
Committee Of Nine.-On motion, . committee of
nire, consisting of Messrs. George Townes of Pitt
sylvania, W. L. Booker of Amelia, Jas M Smith
of Henry, Thomas Watkins of Halifax, w. H.
Dennis of Charlotte, A. D. Dickinson of Prince
Edward W. NJ. Tredway Of Pittsylvsnis, W. w W.
Crump Of Richmond and T. w. McCanee Of Rich
mond was appointed, to whom was referred the
annual report of the President and Directors.
Afairs Of the Road.-Dr. T. p. Atkinson, from
examine into and report upon the affairs of the
company, presented a long and ably written re-
port which was read, received and laid on the
table.
Quorum Mr. G. A. Myers, from the Committee
on Proxies, reported that the committee had pro
ceeded far enough with its labors to ascertain that
q quorum was in attendance
Tolls-Col George Townes offered resolution,
which was adopted
sThat committee of five be appointed to enquire
into the policy adopted by the Richmend and Dan.
vile Railroad Company fer the regulation of the
tolls their road aed report their opinion whether
any modification thereof 10 necessary"
The Chair appointed the following gentlemen
said committee: Messrs George Townes William
Martin. W. T. Sutherland, William F. Butler and
Taylor Wotten
Hsstern Extension Col James NJ Smith, OF
Henry, offered resolution
"That the Committee on the Presidents Report
enquire into and report such amendments to the late
act of the Legislature of Virginia for the extension
acceptable and just to the Western Section
Mr.. J. B. Stovan offered the following - An
amendment
''Th.t select committee of five be appointed TO
.ions of the act OF the General Assembly authorizing
the construction Of a Branch Road from some point
near Danvills to some point at or near Wythe-
Vile on the Virginia and Tennessee Railroad"
Mr.. Smith accepted the amendment, and the
question being put on the resolution amended,
it was adopted.
The Chair appointed the following gentlemen as
the select committee of fve: Messrs. George
Harston, w. M. Treadway, VIM. Martin, II. A.
billiard and J D. Stovall.
The meeting adjourned to meet At Odd Fellows
Hall at o'clock, and to proceed to the election OF
President and other officers, at 8 o'clock.
EVENING SESSION.
Gov Moorehead resumed the chair at 7 o'clock
and called the meeting to order.
Presidents Repor-Co'.. George Townes, from
the Committee on the Presidents report, stated
that they had examined the papers before them,
and approved the various recommendations there
in relative to tha future conduct and progress Of
the road.
On motion, the report was unanimously adopt.
ed.
Investigation The special order of the eve
ming. the report of the Committee of Investiga.
tion, was taken up, and Mr.. Stovall addressed the
meeting 10 opposition to the report Before con
Guiding bis remarks, the hour of o'clock arrived
that being the time appointed for proceeding 10
the election of President and Directors.
ON motion of DR. T. P. Atkinson, tbs election
was postponed, when DIR. A defended the action
of the committee briefly.
Col Townes and v. Witcher, Esq, also replied
to Mr. Stovsll, in short and pertinent speeches.
Without taking any definite action on the report
tie meeting resolved to proceed to the
Election Of OEceys.-Dr. T. P. Atkinson nomi
mated LEWIS Il HARvIE. Esq, of Amelia, for the
Office of President Mr.. Witcher having declined
re election because of age end Ill health
His nomination was warmly seconded by Messrs
VIM M Treadway. Samuel s. Bryant and Gen
w B Caben
There being no opposition, the vote was taken
rira roce, and Mr.. LEWIS E. HARyIE was unani
mously elected
DR.. David A Claiborne offered the following
resolution which he hoped 10 see adopted before
proceeding to the election Of Directors:
Resolved, That it be, and II hereby adopted, -
sta 1oins regulation in the sppontment of Direction
bv the stockholders that shall be selected VIII,
Tesdes ON the Western and one from the Eastern
section of the road
The resolution was opposed by Col Wiley and
T. T. Giles, Esq, and withdrawn BY DR.. Clai
borne
Mr.. William Martin, of Henry, nominated WV
T. SuTHERLIN. Esq, of Danville and urged hii
claims with much force.
Mr.. Tredway seconded the nomination of Mr.
Sutheriin.
Mr. James A. Scott nominated Mr.. r. o. Has
KIss, former Director.
Mr.. Vincent Witcher nominated JAMES Brown
Jr.. Esa and paid high compliment to bis ser
vices and those of Mr. Haskins.
DIR. Atkinson seconded the nominations o
Messrs. Brown and Haskins. knowing them to b.
faithful and competent officers. He knew Mr.
Sutheriin to be capable gentleman, and regretted
that circumstances were such ~ to prevent hin
from giving him bis support but he could Dot vot'
against either Of the present Directors even 10
his own brother.
Mr. John NJ Gregory also supported the claim,
OF MessIs Haskins and Brown, because they ha'
proved faithful to their trusts
There being no other nominations, the Secre'a
~ proceeded to call tho roll for the election OF ~
Directors By the Stockholders, which resulted
follows: