Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1857-12-12


of the Board of DIRECTORS Of the Petersburg Railroad Com
pany: :,
Railroad Company, held on the sth day of November,
1857:
The President called the attention Of the .,oard 10
tain resolutions which have recently appeared in the news
papers, purpor,ug have been adopted the late annual
meeting of the Stockholders of the Raleigh and CASTOR
Railroad Company and which are in the following words
Mr. Branch now offered the following modification 8
substitute for his resolution, with the understanding that
tins Company gave up dividend last year to the con-
srucon Of the CASTOR bridge due diligence should in
cudc the REIMBURSEMENT of dividends by the Petersburg
Company till the rad was re-aId, which was adopted
R,"{ei. That OF the heretofore given
To induce this Company To rebuild its bridge at GastOn.
this meeting opinion that good faith requrers that the
GrcensyilIc branch of the Petersburg Roanoke Railroad
shall be forthwith re.laid with heavy rail.
R,soroj, That if in the opinion of the President and D-
rsctor Of this Company, The Petersburg and Roanoke
Railroad Company does not use due diligence in speedily
rcayug this road with heavy rcu the practice Of running
the cars over it shall be discontinued.
Ee,rd, That in the event it shall become necessary,
from tins unload the at GasOn II is recon-
mrndcd To the Directors IN build warehouse the south
side Of Roanoke RIVER and t" freight and passengers
to Weldon for the prices charged To uasion.
Upon consideration whereof the Board unanimously adj
opted tht following resolutions
!. Rnjrt That this Board consider il due to this Com
pony well As To themselves aud their predecessors to
ielr he nsnuaou Of bad lrh mpc IN the foregoing
resolutions Of The Stockholders of the Racigh CASTOR
Railroad Company untound,d and unjust aud 10 affirm
that this COMPANY has with entire good faith, fulfilled the
pledges which have been gwen {" TIA" Ka" Oh and Castor
t"mmny, m relation I" the reconstruction Of the CASTOR
hrHNtN, ill'liN Tue hitth>NiIt ava hiai'ht
Md N The support II tins declaration, and that the lnns-
cc Of the mpuraon implied in the said resolutions may
De made apparent they deem proper l." make the following
statement ct facts:
TIN, Company acquired title To the Grecnsve and
Roanoke Railroad the "h day Of November, 1850 At
meeting Of tins Board held on the same day the Prcs
dent ad before the Board resolution adopted at the
nn"l meeting OF tn" Stockholders q" the Raleigh and Gas
ton company held during the previous month, IN the fol-
| lowing words
"''ut"h That the President and Directors of the Raj
cgh ana Has'"n Railroad company be- aud they are hereby
lhI arr Ia
tracts Tor rebuilding The rdg" across the Roanoke at t'as-
ton soon ns they shall iece'N" sufficient assurances from
the GrccnsNc Railroad Company, IN the event of the
inauguration ui that Company with the Petersburg and
Roanoke Railroad Company, from the President aud Dis
Lrc'"rN OF the latter OF her determination and intention
ioi"hnI ia" said Railroad IN permanent manner with
/ substantial iron rail,
Thus VIII he seen that the resolution Of the Stockhod.
'N"i the Raleigh and Castor Company proposed no c"ndi-
ton 10 the time within Which ihc rund should he r"lnd
with hcoyF ron II only contemplated that suic en-, AS
smanc's should he gwen Of the intention Of the Com
lhnt ST" rebuild the sad road ina pcTmancn; manner with
/ u sulNi' mel iron rail
And thus Board, understanding that resolution, gave
The assurance contemplated by IT, without restriction MS to
imr except the voluntary declarations not required Groom
icmrn'cd by that resolution, that the work should be done
las soon ~ practicable that IL iu say as soon aS II could
II" done with the means nj Their command, aud with Just
regard to til" financial interests Of the Company 1t was
not III the power 1t the Bmtd because they had not the
nrN !" l"'''"r me WORK WIN Tue greatest possible ra-
pdy a,d hrnc" II was hcr polio, Ia distribute that
pence ever longer period tlmm would otherwise have been
necessary Tn, policy was distinctly announced by the
h"h III III. report I" Inc stockholders at their annual
meeting ~ Match 'hh Hs "lI appear from the following
! extract nom that report :
considerable portion Of that road requires to be i'm
mcdm"' Reconstructed. while another portion of it is in
better order nnd might b" pat IN very good order without
entire reconstruction at tins mc While the Board have
determined to put ~" whole OF That road IN complete order
az soon on lmcucar they have not determined definitely
whether Ia lcruuu" III" whole Of II with heavy iron i'm
nmcN a. IT, reconstruct rarlo 1t now and the residue
gradually hrr@Iler
Ho,n after that time some solcltudc understood 10
b lclt by I'll" nd ui Directors Of the Raleigh and CASTOR
COMPANY, ~ by some nnnbcls of it, to the time within
N ItD.t l.I
{" that road aud correspondence aud conversation
the subject took Nc" between the officers Of the two
hncN The President It 'h's Company informs the Board
lh"l lac gave II" nsan'h"c" that the work should be tin
shcd in the shortest time possible, by the time the
bridge would be shcd or before the present time, by
any absolute umc bu that lac distinctly informed the Pres
ilcml Of that Company If the policy which this Board in
tended to pursue aud c reasons which led To lis adoption.
~ order /" remove All possible msnprhrnslon, and that
the views aud pns U tins Nuntd might he fully and clear
lv understood, Mt sanford, the Superintendent of this
Company after iu c"mictcuc" with The Hoard and being
perfectly familiar with all their aud plurs attended
meeting ol the Beard Of Directors of the r. and CASTOR
Company express purpose Of cxI inng these views
and plan, IN person 10 the meeting Mr. Sanford informs
the Board that he fully explained oihat rcctng the views
aud plan, 81 the Hoard and the upon which they
uUdvd that he informed the said meeting that this
Board were uuNrn, Ia prosecute the work rapidly
they could obtain means available for the purpose aud
then carrying on negotiations for the purchase Of iron in
an amount SlI,rnl' 90 ncn'N so To complete the whole
work, but hr alms that lac sad word to authorize
the hoIvi that THIS Board intended expected To complete
the rrayug that road b, the time the bridge should be
completed, or by the present time, or at time prior 10
til" summer {" lNoS. About TN, time the Board had come
To the conclusion to have about uuruf the road rclld
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