Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1857-04-22


The stockholders of this Company met in Will
ming'on on Thursday last, Hon. Hugh Waddell pre-.
siding. and His Exceency Gov. Bragg in attendance,
representing the States interest.
On Friday, the committee of six, to whom was re-
ferred such portions Of the Treasurers Report
lated the action of the meetings held in February
and March, made the following report through their
chairman, Robt. E. Rives, Esq, which was unan.
mously adopted:
"The committee to whom was referred the Report
of the Treasurer have had the same under conside-
ration and beg leave to report the following resolu-
tons, embodyng in their Judgment the matter
under their consideration, and respectfully recon-
mend the adoption of the same
Resotred. That the President and Directors of
this corporation be- and they are hereby, authorized
to make such compromise with the contractors, with
reference to the claims for work and labor since the
ratification of the of 1854 and g. authorizing this
company to issue bonds, &C.. as they may deem pro-
per and right and for the best interest Of the
pany; and to make such payments for the same as
they and said contractors agree upon, out of the
proceeds of the sale of the negroes and boat Souther
and her boats and any other property order
ed be sold by this company, and that they apply
the balance pro tanto for the work yet to be done
and that for any balance thereafter due for said work.
the President and Directors are authorized and
qucsted to issue certificates of preferred stock at the
rates already agreed upon with DUNCAN, Cartwright
& Co. the work progresses, until the whole is
done; provided that such certificates, when added
to the amount of preferred stock already TAKEN do
not exceed one hundred thousand dollars.
Resolred, That such money as shall hereafter be
received for subscription Of preferred stock be and
the same shall be applied by the President and Di-
rectors pro tnnto to executions or judgments
existing against the company.
Resolced, That it shall be the duty of the Presi-
dent and Directors to the most prompt measures
to insure the faithful collection of the tolls any
other revenue of this company; and when received,
it shall be their duty to apply the same from time to
time in satisfaction of any contract Of the committee
heretofore appointed TO contract for the works to be
done upon the Cape Fear and Deep River; and after
reserving such amount as indispensable for the COM
pensation of the officers and necessary employees
of the company, faithfully to apply the balance
much thereof may be necessary to pay the interest
as it the bonds of the company, endorsed
by the State, by virtue of the act of 1854 and 3.
Resolred That the President and Directors are
hereby authorized in their discretion, to sell the
steamer Haughton and her tow boats so as not to
interfere with any contract of the committee afore-
said and the proceeds of the sale shall be applied in
payment pro tanto of the $780, 900 bonds issued
der the act of 1852 and 3 by this company, to
cure which the first mortgage was executed.
Resolued That any resolutions, Of the two proceed.
ing meetings of this company, in conflict with these
resolves be and the same are hereby rescinded and
repealed"
James C assidey, Esq, was elected President, and
Messrs. John H. Haughton. A. S. Mcneil, and John
McRae, Directors for the ensuing year.
The next annual meeting Of the stockholders was
appointed to be held in Wilmington on the third
Thursday in April next.
On motion of John H. Haughton it was unani.
mously
Resolred, That in consideration of the interest
manifested by his Excelency Gov. Bragg, in the
great work in which engaged. the thanks Of
this Convention due and are hereby rendered to
him.
Governor Bragg returned thanks for the comP
ment in a very happy manner.
The thanks of the meeting were also rendered to
Mr. Wadde, for the ability and courtesy with which
he had discharged the duties of the chair; and Mr.
Waddell responded at some length in an eloquent
and impressive manner.
The Herald concludes its notice of the meet ne as
follows: ,..-- -ss--5sl
''Thus has ended the deliberations Of this meet
ing of stockholders and we congratulate all con-
cerned upon the unanimity and concord that mark
ed it's proceedings It at time thought thai
in the discharge of his duties as the representative
of the States interest in the work, the Governor