Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1857-04-24

| Inc SpecaI committee, 10 "hlCH was Oel-
tain portions Of the Treasurers report, submitted re-
port re inning, in effect the action taken at the
special meetings in February and March, and con-
frmng the contract with DUNCAN & CO. This re-
port was received and adopted
report from Mr.. Douglass was also read, estimat
ing the cost of opening the work to the Coal mines
at SCI, 7Gl O0.-Daily Journal, 18th inst.
i Deep River Meeting.
The report of the special committee 10 whom
referred so much of the Treasurers report related
TO the meetings held in February and March, is as
follows:
The Committee whom referred the " Report of the
Treasurer have under consideration beg
leave to report the following resolutions embodyng in
their judgment the matter under their consideration and
respectfully recommend the adoption OF the same.
| KOBr. E. RIVES, Chairman
Resovd That the President and Directors this Corpo-
ration be- they hereby authorized to make such
with the contractors with to their claims
and IS authorizing this Company issue Bonds &C. as
they deem and and for the best of
Company and to make such payments tor the same
they and agree upon out of the proceeds
the sale of and boats Souherner and her
and that they apply balance pro the work be
and that for balance thereafter due for said
the President authorized and requested to
issue certificates preferred stock the rates already agreed
upon with DUNCAN, Cartwright CO. as the work progress
e until the whole provided that such certificates
when added to the amount of preferred already
toned, do exceed One Hundred thousand Dollars.
es0lUe That such money shall hereafter be received
for subscription preferred stock be- and the shall be
applied by the President and Directors pro to any
ResoiUed That it shall be the duty the President and
Directors to the most prompt to insure the
Company and when received shall be their duty to ap
ply the same time time, in satisfaction of any
tract of the committee heretofore appointed contract for
the works to be done upon the Cape Fear and Deep River
and after eserving such amount is indispensable for the
of the officers necessary employees of the
| there
may be to the interest," it
the bonds of the company endorsed by the State by virtue
of the Act of 1854 and 80
Resolved That the President and Directors hereby
authorized in their discretion sell the Steamer Haughton
and her tow boats interfere with any contract
of the committee aforesaid and the sale shall
under tn" Act Of 1852 and SO by this Company to secure
which IL, first mortgage executed.
ReSOVed That resolutions of the two preceding meet
ings of this Company conflict with these resolves BE- and
the are, hereby roscinded and repealed.
Unanimously adopted.
At the afternoon session Of yesterday the 18th
inst, on motion of Col John McRae, The salary of
the President of the Company for the ensuing year
was fixed at tie tate Of one hundred dollars month
until the completion OF the contract with DUNCAN,
Cartwright Co., afterwards to be at the rate of Two
thousand dollars per annum, as heretofore.
On motion OF Captain John w. Scott, resolved that
the Salary of The Treasurer be fixed by the President
aud Directors at amount, which, in their opinion
! will compensate him for the services rendered
On notion of Robt. E. Rives election held
for President and three Directors of the Company for
the ensuing year. o G. Parsley and N. N Nixon,
Esqs, were requested 10 act telers, who reported
that James Cassidy, Esq had been elected President
and John H. Haughton, Esq, Col. A. S. Mcneil and
Col John McRae Directors
The matter of land damages from overflow was
referred 10 the President and Directors
On motion of DR.. A. DeRosset Jr., ordered that
500 copies of the proceedings of the special meetings
of February ard March gether with the proceed
ings of the present meeting be published, and thai
W. A. Wright and James Fulton be requested 10 as
ss the Secretaries in preparing them for publication
The former audIling committee re.appointed.
The next meeting TO be held in this town in April
next.
On motion of John H. Haushton, resolved unan-
! mousIy that in consideration of the interest manifest
ed by His Excelency, Gov Bragg, in the great work
in which We engaged, the thanks of this Conven-
ton are due and are hereby rendered to him.
Governor Bragg returned his acknowledgements
for the attention and courtesy with which he had
been treated. He did feel an interest in this work.
because he believed it to be work of importance to
the State at large and because also, the State had
heavy pecuniary stake involved. In his recommen.
daton in favour OF this work. or at least in calling
the attention of the Legislature to 1t, he had simply
discharged what he believed 10 be his duty.
The Convention adjourned until 8 o'clock in the
evening.
At the evening session, the report of the Commit
tee of three 10 whom ad been referred the financial
portion of the Treasurers report, taken up and
adopted.
The Convention was addressed by Col. A. S. Nc
/ Neil, and o. G. Parsley and John H. Haughlon,
Esqs, the subject of the importance of the work.
and the advantages TO be derived frem it.
On motion OF DR.. F. ]. Hill, resolved unanimously,
that the thanks of this Convention are due, and are
hereby rendered to the Hon. Hugh Waddell, for the
ability and courtesy with which he has discharged
the duties Of the Chair. --.
MIR. Waddell returned thanks for the compliment
contained in the foregoing resolution and addressed
the convention at some length, expressing his graft.
fcation at the harmony which had pervaded their
deliberations, and congraulating the Company upon
the Frightening prospects of their work. He spoke
OF the great value of the deposits OF COAL iron, end
other minerals-the great agricultural capabilities
of the region tapped by this work, and the prospect
Of almost unlimited extension which it held out by
means of a connection with the rich country in the
valley of the Yadkin. MIR. WaddeH displayed an
evident acquaintance WITH and interest in, bis sub
iect, and was listened to with marked attention. a..
Daily Journal, 18th EAST.
The Hon. Waddy Thompson, formerly member of
Congress from South Carolina, and more recently
j Minister to Mexico is stopping, with his family at
1 hn N;ahn uofa al NoYvV orLr Sfv