The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1857-11-28


Ins mseiins rs-asssmbied this morning st II
chair. fe w"
Ths chairman announced bis readiness to Bro.
eeed to business.
Mr.. David Anderson offered tha solIoriry ra.olu.
tions: '''S'1
hesotesd. That the SUN which the President and
directors OF the Virginia Central Railroad Cou,pa-
ny say, IN their report 10 III Stockholders will
oe sniject TO dividend dHiin. he coming year. be
oi'iaeo IN cash dividend dny 0n the first day Of
april 1858. and first day of D tober. and that the
nett proceeds OF the Company be regularly appro-
priattd to cash dividends GU the first day of April
and October in each wear
ReSlred. That the sum of s70 Oon which tha
PRESIDENT and Directors of the Virginia Central
hsuroad company say, in their report to the Stock
nolders may properly be laid by a. a sinking fund
Ior the payment of the bonded debts Of the or,pa-
ny, De invested as fast thet unds can be spared
during the ensuing year from the rurrert no =
ments OF the debts Of the company in the connon
PONDS OF said company, upon tn best terms thst
'ney can oe obtained and, purchased. that each
ana every bond purchased be marked cancelled
ana tnat the whole sum cf $4,000 shall be go ap-
propriated during the coming year
oh morton OF Dir. Anderson, his resolutions
were laid on the table for the present
Mr. John Hunter from the committee of nine
appointed on Thursday evening, presented the fol-
lowing report: ~
"Ihe committee to whom the reports of the off
GERS were referred by the annexed re- oluti9n have
nah the same under considerations and beg leave TO
report: . -
lit has been impracticabls for the conni,,ae
within the time allowed them to do mora than IN
examine the reports. taking the statements there
III contained TO be correct iu point Of fact
'On the subject of the working expenses Of the
road, the committee have had an interview with
the superintendent Of Transportation. in which he
mas furnished explanations. which. taken in con.
nection with the report of the committee of ac-
counts satlsiy TINS committee that the actual cur.
n fhnI IaaN
hty-one per cent. of the receipts and that tho an
parent excess has arisen from causes not properly
chargeahle ufon that years operations
IN connection with the subject of expenses
dlmlnnton in the number of officers and agents
VI the company and a reauctio of salaries
Ihis SUBJECT they hear has already engaged to
some extent the attention Of the officers of the
company.
''Ihls committee have not before them tho mn
terials to enable them to say to what extent such
ulminutlon and reduction is practicable of desi-
rabe but they deem it proper to declare it as their
opinion, that IN view of the suspension the
woIk OF extension and of the change in the fnau-
clai Condition of the country. il has become very
Important To consider both of these subjects and
specially that the pay of our officers aud agents
shall be cohiurmed to the standard of compensa
flon which prevails among private individuals tor
similar ices
"Ihe committee beg leave to report resolution
in relation to the subject of free tickets
The only other subject to which the attention
OF the committee has been directed az calling for
action on the part OF the stock holders is that of
the Blue Ridge Tunnel. The committee Dc = leave
on this subject to report that in their opinion the
course OF the Directory thus far has exhibited IA
most cOmmendabie caution, and to recommend
that this caution be continued in all the future
steps TO be taken toward receiving that important
work from the hands of the State.
"Ihe committee have no idea that any dsposi-
ton exists the part OF the State authorities 10
do injustice to this company; but on a subject of
such Importance they disposed to approve of
the utmost vigilance on the part of our DIRECTORY
They Therefore recommend the adoption of the
following resolution:
'ReSolred, That hereafter the following persons.
and no others, be permitted to ride free on this
railroad: The President aud family. the Directors
The state Proxy, the Chief Engineer the Treas urer
the Superintendent. the General Freight Agent.
he Road Master, members of committees when i'll
the discharge OF the duties for which appointed.
and such officers aud employees of the company
when actually in its employment as the Pre- J.
dent and Board of Directors and the Superiu,end-
enL may deem necessary tor the proper conducting
OF the affairs Of the company. but the families vi
such officers and employees are not to ride tree
under any circumstances. The Presidents and su
perrin tendents and Chief Engineers, and such uthel
officers OF other roads in the State the Board .
directors may deem necessary for the proper inter
change of business and courtesy between the com
panies. The Directors of other roads Tin actua
operation) in the State OF Virginia, who may tx
tend similar courtesy to the Directors of this con,
pany. The Governor of the State, The Board O
t'ublic Nerks. The secretary Of the Board of Pub
lie Works, The Proxy of the city and counties in
this company, and the individual stockholders
when going to or coming from the meetings of The
stockholders Of the company; Ministers OF the Cos
pei, when going to or coming from u regular an,
pointment. to be furnished with ticket from the
proper officer. The privilege of issuing free ticket,
shall be confined to the President and Supernteud
ent who shall keep register OF all free tickets il
afaA ..rff 2 f,F ~,
sued, and the cause aud reasons for the issue OF
such tickets to each annual meeting of the stock
holders"
Dr. 7. G. Nelson moved to strike out s.state
Troxy," so as TO prohibit them from riding free
on the road at any other time than going to or re
turning from the meeting of Stockholders
Col. Fontathe opposed the motion, because he
thought the Estate Proxy" should be allowed tbs.
privilege of passing free at any time, that being
the only compensation received for attending 10
the interests of the State; while the withdrawal of
that privilege might lead to the appointment OF
incompetent men.
Messrs. James Lyons, Bolivar Christian and
others favored the motion 10 strike out.
Mr. Clifford opposed the motion, and the question
being put, called for scale yote,' which resulted
follows: Whole number of votes 10y private
stock khoders, 1898 AyeS-2elS. Noes, ,l75.-
The State vote being gwen in the negative, the
amendment was lost by $50.
hr. Robertson, of Charlottesville, moved to
amend the resolution by striking out ''other off
cers' aud tho words land courtesy" SO as to max
it read 1.-The Presidents and Superinten DENTS aud
thief Engineers of such other roads in the sta as
the Board of Directors may deem necessary tne
proper interchange of business between CD com
panies." Also. to strike out the words 1.-The Dlrcc-
tors of other roads, in actual operation, in the
state of Virginia, who may extend similar courtesy
to the Directors of this Company"
The question beiug taken the above amend
ments. they were carried in the affirmative.
Mr Horace L. Kent offered the following resGlu-
tion as a substitute for the resolutions of the COM
mittee:
Resolved. That the present system of free tickets
should he SO tar modified TO allow free tickets
to be issued hereafter except to the stockholders
and proxies of the company. in attending its an
nual or called meetings, to the President of the
road and his anliiy, and to the officers of the com
pany, including the Directors
The question being taken on the substitute Of
fered by Sir Kent, it rejected.
Mr. Lyons then moved to amend Mr Kent's sub
stitute by the addition of the words state prox-
ies,' at the end of the last line.
The question was then taken on the amendment
of Mr. Lyons to the substitute of Mr. Kent and it
was lost.
The question was then taken on the report of
the committee and their resolutions as amended,
and they We're adopted
The meeting then adjourned till half past 4
O'Clock, p. II.
AFTERNOON SESSION.
The Stockholders met this AFTERNOON at halfpast
4 clock WILLIAMS WIcKHAM. ksq., in the chair.
Mr. John Wood, Jr-, offered the following reso-
luton, which adopted:
Resolred, That the transfer books Of the Compa-
nv stall be closed at least fifteen days before each
ensuing meeting of the Stockholders and shall re
main closed uatil after the adjournment Of the
meetings respectively.
Mr.. Robertson, Of Charlottesville, offered the
following resolution, which WAS adopted:
Resolred, That u copy Of the proceedings OF this
meeting in reference TO Eree Tickets, be commu-
ncated 10 the other Railroad Companies in this
State with the request that they take Into consid
GRAFTON the propriety of similar action on their
part; and that copy Of said proceedings be Com
muncated to the railroad Convention, which is
to assemble in this city on the Sth OF December
Mr.. David Anderson novel TO take up the hrst
resolution offered by him in the morning, which
was then laid upon the table.
Mr. Lyons hoped that the resolution would be
permitted to lie on the table, as any action upon