Weekly North Carolina standard. [volume] (Raleigh, N.C.) 1850-1858, 1857-11-04

pledged in good faith, and believed they would com
ply with their part OF the contract. The terminus
OF our road was at CASTOR, aud we were bound 10
keep up the bridge whether it was profitable or not
Mr.. Brtoh hoped Mr. Branch would withdraw
his resolution. No harm would result to this Com
Pany from the present condition of the road. He,
was satisfied 1T would be completed in a short time.
Mr.. Edmund Wilkins, of CASTOR, said that the
Petersburg Company passed resolution some two
years ago to relay the road with heavy iron, and he
believed they would do it as speedily as possible
AS stockbolder he knew nothing more 1t was
the impression of many that the work was not to
have been completed Immediately. ......
Mr.. L. b. Nenable recollected promise to relay
the road in three weeks He always understood
the work was to be executed Immediately. In reply
to the argument that this Company was bound to
connect with Castor, he admitted that might be so
but the Raleigh and Castor Company was not bound
to cross over 1t the Petersburg Company was un.
abe to build he would give them time. He sugges-
ted an amendment which accepted and embod.
led in the foregoing resolution
Maj {. l.. Hinton suggested that the President
and Directors have discretionary power
Mr.. Britton said that iron had been purchased for
the road, but he feared the Company had no means
to push on the work.
Mr. Geo. w. Mordecai hoped the resolution would
not pass in any shape. 1t was opposed to the in.
terests Of this Company 1t would mecessitate the
unloading of the this side Of the river and
re-shipment at CASTOR, and thus add materially to
the expense. He would leave it entirely discretion.
ary with the Board of Directors.
Mr.. Branch had no feeling Of spite i'm this matter
But he had noticed that in every attempt that had
been made to release North Carolina from the thral
dom of slavsh dependence, the same arguments
had been used-this buggaboo of expense to fright.
en- farmers had always been raised. But he never
knew of any great harm to come to them As to
the discretion OF the Directors. they had placed
idence in them, but the Directors had either been
disappointed or deceived. We received assurances
once that would not be deceved-we have as
surances now that cannot be enforced. But we now
can get to W Weldon-We eldon has rendered US inde-
pendent. Mr. Branch would modify his resolution,
but was not willing again to refer the matter to the
Board. We have no assurances from any one that
the road will ever be rebuilt.
Mr.. Reeves could not otherwise than that this
Company would suffer by the resolution. He
thought it mutually beneficial that the cars of both
companies should be used An6 he did not think it
advisable to hold the rod over the Petersburg Com.
pany.
Mr.. Egerton Of Warren, stated in the course OF
some remarks that from long experience he sat
isfied that the wear and tear on two miles of strap
iron, such used on the Greenvic branch, was
greater than that on ten miles Of good solid iron
motion to lay the resolution the table was
negatived by stock vote.
Mr.. Branch then withdrew the resolution till after
the election of Directors
The election was then proceeded with and result
ed on the first ballot in the choice of Geo W. Nor
decai. DR.. W. j. Hawkins, Maj. c. L. Hinton and
Thomas Miller.
On motion committee appointed to inform his
Exeellency, Gov. Bragg, that the Company had Sc.
lected their part of the Board, who Immediately
turned and reported that the Governor had reap.
pointed the gentlemen who served last year the
part of the State.
I. B. Venable, j. j. Davis and S. D. Bevcs were
then appointed Committee of Finance and Inspection
R. Fl. King>bury offered series Of resolutions
providing for the revision ofthe Of transpor
tation, which, after considerable discussion and a
call for stock vote, he withdrew.
Mr.. Branch offered the following modica
ton a substitute for his resolution with the
| derstanding that this Company gave up its div
dend last year to the construction Of the Castor
| bridge, due diligence" should include the relin
quishnent Of dividends by the Petersburg Company
till the road was re-lad, which was adopted:
Re>ored That in of the heretofore gver
to induce this Company build its bridge at Castor
this meeting is of opinion that good faith requires that th
Grecnve branch the Petersburg and Roanoke Rail-
! shall be forthwith read with heavy rail-
ResOeed That if, i'll the opinion Of the President ant
Directors of this Company the Petersburg and Roanoke
Railroad Company does not due diligence in speed.
re-aying his road with heavy the practice of running
the it shall be discontinued.
kes0iced That in the event it shall become
mended to the Directors build warehouse the suutt
SIDE IF the Roanoke and carry freight and passen
gers to Weldon for the prices charged To Castor.
I On motion the thanks of the meeting were tender
! cd to the Chairman and Secretaries
On motion the meeting then adjourned.
| In the evening the Board of Directors held
meeting, and rec elected DR.. W. j. Hawkins presiden
for the ensuing year.