Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1856-01-28

tives on the Committee; the Chairman TO ap-
point the two at large-whose duty it shall be
to report to this meeting suitable measures for :
the relief of creditors and stockholders.
The motion and the adoption of the resolu-
tons was carried and the following gentlemen
were selected to serve on the said Committee,
viz: -
David Met artncy, of Belmont county.
Moses Sarchett, of Guernsey CO.
Joseph Gallagher, of Muskingum co.
VIM. S. Wright, of Licking co.
VIM. B. Hubbard, of Franklin co.
Danl C. List, of Wheeling, Va
Geo Whitney, of Philadelphia, Pa.
David E. Small, of York, Pa,
John Garrett, of Baltimore, Nd
John BrOdley, of Vermont.
Malcolm Mcdowell of Troy, II. Y.
Wm WISE siur p,DoAz' Appointed by Chairman.
1t was then moved that a Committee Of five be
appointed to ascertain from the persons present,
the amount of stock and Indebtedness of the
Company which they represent and the resi-
dcnce of the holders of the same The motion
was carried, and the Chair appointed Thomas
White, W. W. Wing, A. G. Robinson, D. w.
Deshler and Jas. D. Wright
The meeting was then adjourned to o'clock
this evening
Alta o'clock. P. NJ, the meeting assembled, w.
FESt.S lut SualE, WHO UClalt OF
the Committee, stated that THE Committee was
not ready to make report-but asked for furth-
er time, which on motion was exten led, and said
Committee instructed to report at the next SEES
sion OF this meeting.
JAS D. Wright, on behalf of the Committee Of
five, made partial report, but stated that they
had not yet made out ia complete list-whereup-
on on motion the report was re-committed to the
same Committee for completion.
The meeting then adjourned to the ringing of
the Court House bell tomorrow
9 O'clock T. NJ, Jan. 24th-The meeting of
creditors again convened pursuant to adjourn
ment of last evening, W. B. Hubbard in the
Chair
The Chairman then, on behalf of the Commit
tee of thirteen, presented the following.
REPORT.
The Committee appointed by the meeting of
tho stockholders and creditors of the Central
Ohio r. r. Co., held on the 93d inst; with in
structions pto report suitable measures for the
relief of the creditors and stockholders of said
Co. beg leave respectfully to state that after full
and careful discussion, and deIiberation, viewing
the present and prospective financial condition
of the Company, they unanimously recommend
the adoption of the following resolutions.
The Committee feels impellcd to state their
conviction that in the present critical condition
of the ComPany's affairs, failure to consum-
mate the plans proposed will result most disas-
trously to your interests, but take pleasure in
stating further their decided confidence that, if
carried out, the Go. viii be rescued from its en-
barrassments-th value of the floating debt en-
hanced-its securities improved and the results
prove satisfactory toall parties ntcrestcn-whilst
this great work will then achieve the high posi-
ton to which its location and connections entitle
tt-they unanimously urge prompt and energet-
lc action IN the premises, the stockholders, the
creditors ann the Board
ReSolred, That it be recommended to the
Board Of Directors, to prepare series of fourth
Mortgage Bonds in sums not less than 300, nor
more than 1000, of sufficient amount at par,
with forty per cent at par Of preferred stock of
the Company, totakcup and pay all outstanding
Heating debt of the Company-such preferred
stock shall be entitled to interest at the rate of
seven per cent. per annum, to be paid scmiannu-
ally in the city of New York, and such interest
shall be payable to the exclusion of dividends
upon any common stock heretofore, or which
may hereafter be issued by the same company,
andsuch preferred stock shall also participate
pro rata in any dividends over z per cent. per
annum. which said company may declare, with
the privileges on the part of the company of re-
deeming the said preferred stock ttpar at its
pleasurea at any time after three years from the.
date ofits issue. The said mortgage bonds, to
be payable in New York after 90 years from the
first day of February next, with interest at the
rate of seven per cent. per annllm, payable semi
annually at the same place, with interest war
rants attached in the usual form, and such bonds
to be made transferable by delivery at the OPP
ton of the holder and convertible into stock,
each at par, at any time during the running of
the bonds. Progilsd, that any creditor afore-
said shall have the privilege II taking greater
amount of his debt than forty per cent in pre-
ferred stock, il, he shall choose so to do. Aud
the Directors are requested to obtain, if found
necessary, further legislative enactment, to ena-
bic them to carry. out the foregoing measure.
Res0trel, That the Directors provide suitable
sinking fund of not less titan ten per cent upon
the wholcissue Of the said fourth mortgage bonds
.wherewitlt to redeem the same at maturity, and
which fund shall from limo to time be invested
by purchase in the aforesaid fourth moatgage
bonds, and in them alone.
ResOtred, That those who may, on the list day
of juno next be the lawful holders of the prefer
rcd stock hereisbefers authorized to be issued,
be empowered to recommend to the Board of
Directors the names Of three or four members of,
such Board to resign, and to nominate ike
number to be appointed by the remaining dircc-
tors in their places
All of (which is respectfully submitted.
W.B. HUBBARD.
GSairaaaa on al.3 IN behalf the Comnsittee.
0nmoton of DR.. JAS. D. Wright, amended by
Vim. Dennisson, Jr., and after much discussion,
the report of the COMMITTEES was accepted, and
the preamble and resolutions therein embraced
unanimously adopted
On motion of DR.. Jas. D. Wright, it Was order
that the preamble and resolutions reported by
the Committee, be entered on the minutes ofthe
transactions of the Board of Directors as a mat
ter of record
0nmotiOn of Mr. Riley, it was ordered that the
proceedings of this meeting be signed by the
officers and furnished for publication in tho pa
pets
On motion of Vim. Dennison, Jr, the thanks
of the meeting were unanimously voted to the
COMMITTEES for their ahle and efficient labor in
the premises.
The meeting then adjourned
W. B. HUBBARD, GaGirmaa. g
6 J. S. ScIloLyiELp, Secretary.
Alta meeting Ofthe Board of Directors held :
on the 9Th inst, thsy unaAinoqsly a2proyedof
the report