The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1858-12-09
LOCAL MATTERS.

- II
LOCAL MATTERS.
RrcHMoSD AND DAsvrLLn RArIRoAp.-
The eleventh annual meeting Of tho stockholders
OF the Richmond and Dsnvills Railroad Company
was held at the Ballard House yesterday, at IL
O'Clock.
Order.-The meeting was called to order by
President Lewis Il. Harvie, and on his motion
FRANCIS WArKISs, Esq, was called to the chair,
and Thos. W. Brockenbrough appointed secreta.
ry. and Ii. X. Eliyson, Assistant Secretary.
Irories s-0n motion Of Mr.. J. B. StovaIl, of Hall.
1ax, committee OF three was appointed BY the
Chair to examine proxies. Messrs, Thos. T. Giles
OF hichmond, Wm. Martin, Of Henry, and Thomas
watkins, OF Halifax, We're appointed the commit.
tee, who at once retired to perform the duties
assigned it.
Presidents Eepot.-Lewis E. Harvie Esa.. then
read the report Of the President aud Directors,
synopsis Of which is here appended:
highly fourishing condition. with very bright
prospect ahead We offer ynorsis of its moAt in-
The aggregate receipts OF the road for the fiscal
year amount TO $49i .6I4 81. bsiog an increase Of
s2a3s o. over those OF the preceding year. The in
1882 80, aud on the mail service, Sl7a o. The in
crease on passengors has been sraater in tn. last
hscai year than In the preceding, while that ON
ceipts are less in this aggregate than those Of the
preceding year. owing. as the President suggests
ding year owng to the failure of crops of corn ON
the line OF the road, there was large trapsporia
tion OF that article to supply the wants OF the
!. The net earnings Of the road for the year were
$2e!,loz 81, being Sll $50 g. more than the year
p,sv'Gu Sa: wnen nd ,ney were H. The com
During the fiscal year SUE, 49, 95 has been in.
vested in the psrchase Of certificates Of debt Of the
company due in 1859 and So Tho rar yalue Of the the
certificates and bonds thus pu rchased is SiIO3s5-
sas. 'hs a. 81 shs 81 the Preden
have been cancelled so that the indebtsdoess CT
the company over aud above State sscck held by it.
appears:
Bonds of '59 and go 6Os so2s coo
Due to the state on her loan........,... 6oo'o60
Coupon bonds due in 75................... 200 600
Slo2son
The receipts Of the road will pay the debt Of 's9
and go with perfect case The dsbt due the State IN
by the terms Of the loan in course OF lia 1idatio
by the pay ment OF seven per cent. semi-annually
which win discharge the whole in the time pre-.
scrlbed by law. The company has regularly COM
piled with its terms. by the pa ment of sci .uOo
semi-annually. The remaining debt OF s2CO COS. the
dcn Nay mhSnt the
payment may be provided for long before it is due
i the company deem proper. In The meantime
the Presden; sees no diifculty in ths way OF diy
aend annually to the stockholders after This year
the road in the meantime meeting all its expsndi
that part Of the road row laid with the fst bar M
Five miles OF the road has undergone this change
the past year.
The port notices the important works accom-
plished during the year, viz: the rebuilding Of the
freight house in Richmond, the construction of q
superb round house for engines and machine shons
in Manch, ster, and the pacing of the read from
Manchester to the landing opposite Rockets on
permanent road bed purchased from the old Ches-
terheld abroad company for the sum Of $780,
The road is thus taken from the trussle work on
which 1t formerly stood, and the company becomes
the OWE Of the valuable right of property between
The sum OF $1,000 ha, been paid over to the trea.
sureI of the Tunstall Monument iund, according to
the direction of the last annual meeting TO be ap-
proprated towards the construction Of the monu.
ment to the late lamerted President of the road
Whtmel p. Tunstall
the south Side Railroad, relative to freight Except
the breaking of bulk at the JUNCTION." "a very %.
Upon review OF the past operations of the read,
tne Board OF directors very Justly conciude that
Danvllle Railroad, with its present resources only
will continue to realize large profits to the stock.
holders. even without further extension or other
their business, which can now se foreseen as at ali
probable On the ether hand, those profits must be
greatly increased when the contemplated connec-
must be- sooDer or later"
In conclusion, the report invites the attention of
from Danviile to G,eensborough, n C., and from
Danvile through Henry, Patrick. &c. TO the Viz
gois and Railr9as ga We beg leave to add
Referred On motion of MIR. Wm. Martin. the
following coHmittee WAS appointed, to whom was
referred the report of the President and Directors
and accompanying documents. Messrs. VIM. Mar
tin, T. 2. Atkinson. c. X. Barksdale N. b Hill, A.
T. Dickinson, w. T. Scott, W. &C. knight, Geo. s.
Townes ans L. Nunally.
On motion of Mr.. Stovall, it was
Resolved, That when this meeting adjourn, it
adjourn to meet again this evening, at O'clock.
Report.-Mr. VIM. Martin, from the committee
to whom the subject had been referred; presented
the following report:
"rhe committee appointed by the Stockholders.
at their meeting hsld the nth of December 1885,
to memorialize the Legislature at its next annual
session. OF at an extra session, il one should be
called to remove the restriction which denies to the
Stockholders of the Richmond and Danvlle Rail-
read tbe power to appropriate he revenues of said
company to, the extension of said road or IN any
other way that they may Dr. EN- proper. and to make
an appropriation in favor Of said extension, upon
the two aud three 1f;hs priacipie; Provided, how
ever. that no portion of the earnings cf the road
shall be appropriated to the extensi IN of the same
without the consent of the holders of the existing
stock of the company, respectfully report as fol
lowe:
ing been called, your committee prepared memo
rial and caused the be presented to the Gen.
era Assembly at its regular session held in Oecem
ber 1887 An set was accordingly passed during the
session. removing the restriction complained Of In
accordance with the wishes of the stoc and
requiring separate accounts to be kept of the pro
posed extension. with other provisions similar to
AuIn0r1sIDR
extension to be made This act took eff, CT from ts
passage. and dees not therefore require any adop-
ton by the stock holders No appropriation for Of
fec.ing the proposed extension could be obtained
from the General Assembly at that session. hut from
the spirit of lieerality exhibited toward the Rich
meBd and Danyille hailrca ad Company an5 the in
terest manifested in the complete success OF theil
great Improvement, your Committee satisfied
that such an appropriation may be obtained at the
Company itself and the people Interested in the ex
tension will make such exertions for its accom- psh
men. en- as its Importance demands
ing resolution:
Resolved. That - he appointed a COMMITTEES
to present to the General Assembly of Virginia, a
its next session. memorsl On behalf of tn G, mpa
ny, asking snbscripi ion on the part of tn
state the additional capital stock of the Company
authorized by the act of assembly passed FebIuar,
25th, 1856. fer the exit nson of the Rict m0nd an
Danyille Railroad to the Virginia and Tennessee
be required to complete the said Extension throus
the counties of Henry and Patrick
On motion, the report and resolution were re
ferred to the Committee on the Presidents mes
sage.
On motion, the meeting then adjourned.
EVENING SESSION.
The Stockholders re- assembled at 6 O'Clock, an
soon thereafter called to erdsr by the Chair
man, Mr. H. WATKINS.
Froris-Mr. Giles, from the committee on prox
los, reported that, inclding the State vete, ther
were more than one Thousand over the number ne
cessary for quorum.
H,restgdtion.-Wood Bouldin, Esq, from tn
committee on Investigation, submitted q long re
port on the affairs Of the company, showing IL
condition, which was read and approved.
Presidents Report-Air. Martin, from the CON
mttee on the report of the President and Director
| and accompanying docrments, reported that the
had given 1t such 40 EXAMINATION es their limite
time would justify. and conndins 10 its accurac
| and correctness of the statements therein con
| tanned, recommend it's approval and adoption.
The committee also recommend tho adoption G
| the following resolutions.
| !. Whereas, the President aud Directors, ne
| deeming 1t D. udent to do so have, at no time ca
ried into effect the resolutions adopted by the socl
holders at their annual meetings, hold in the yeaI
1852 and 1858 which contemplated dividends of th
nett profits OF the Company, heretofore announced
and the stockholders have acquiesced In the cour:
| thus pursued by the Board-therefore,
Resolved, That the said resolutions are inopera
| tive and void.
2. Resolved, That the time has now arrived, whe