Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1858-07-03

MEETING OF THE STOCKHOLDERS OF THE ATLANTIC & |
N. c. RAILROAD CoMPANY.-The Sto kholders Of the |
A. N. Railroad met in this town on Thursday last
the oath inst. The meeting largely attended and
among the number was his Excellency Gov. Bragg
Hon. N. f. Manly was called upon to preside with
Emmett Cuthbert, Esq of Craven, and George Wash
ngton, Esq, OF Lenoir, MS Secretaries
j. M. MOI ehead, W. K. Lane and j. c. Wooten.
appointed committee to ascertain what amount
of stock was represented who reported that QUO.
rum was present; wbereupon the President declared
the meeting legally organized and ready for business
The President, John D. Whitford, submitted his
report; which was read.
Col. Thompson, who has been Chief Engineer since
the commencement of the work up to short time
since, when without any previous intimation of his
design he resigned his Office, made no report His
successor, Major Miller, who has been but recently
appointed of course could make no report.
The meeting adjourned to meet again at o'clock
At the time appointed the Directors re-assembled
The Finance Committee, through Mr.. Disosway, of
Craven, Chairman, submitted their report.
DR.. Arende, Of Carteret, wished to know of the
Committee If the Bridge Trent River had been
constructed within the estimate which had been
made by the Chief Engineer, to which Mr. Disosway
replied that it had. -
had been covered it could have been constructed
within the estimate. Mr. Whitford stated he could
answer that question for the gentleman 1t was the
design of the Company to have the Bridge covered,
and when done, the whole cost Of the work would
not amount to as much as the estimate called for
The report was then adopted.
Mr.. Whitford then arose and stated that be was
glad to see his Excelency Gov Bragg present in the
meeting on the part Of the State, and he hoped he
would state to the Stockholders his opinion in regard
to the management Of the work. whether it be for or
against the present Directory.
Gov. Bragg arose and stated that, although he did
expect to speak, yet he had been called upon
to give his opinion in regard TO the management Of
the work under the present Directory, he thought it
his duty to do So
He then proceeded at considerable length to refer
| to the charges and suspicious which had been circu
| lated relative to the management Of this work. He
stated that having heard the reports in circulation
against the Directory he made it his business to ex
anime the Books of the Company, Finance Commit
tee beng present to give him any information which
he might desire for full understanding OF the sub
je:t. and that after examination thorough hi
limited time would permit, he had come to the con
cluson that the Directory had acted in good faith
and that the work had been pushed forward as ex
peditiously, and economically, circumstance.
would allow and that if the price of provisions anG
labor had been as low while the road being con
structed as they were at the time the charter wa.
passed, he had no doubt that it would have beer
completed within the capital stock fixed by the Leg
islature; that if there any thing wrong in the
management of the work he had been totally unabl.
to discover it. He cautioned the people of thu
different localities the line of the road to throw
all chickering's and contention aside, and to unite II
the endeavOr to make it what it was intended to b.
great State Work.
At conclusion of Gov. Bragg's remarks Elk Gov
Morehead took the floor and said, that his Excellen
cy the Governor was in error in surprising that the
capital stock of the company limited by the
charter to ST. 600 900; that neither he or anybody
else ever reasonably supposed that the road could
be completed for that sum; that even the Legsla.
ture at the time the charter was passed did not en-
terrain that dea for clause in the charter, which
he quoted expressly allowed the capital stock to be
increased from the 81 600, 900 to an amount sy0
cient to complete the Road
The meeting then proceeded to elect Directors;
whereupon Messrs. Whitford, Green, Moore and Bes'
were reelected the part of the Stockholders for
the ensuing year.
The same Directors, on the part of the State were
re-appointed, viz: -
E. A. Thompson, of Wayne,
Council Wooten and L. G. Desmond, Of Leno;r,
A. T. jenkins, +. p Latham and Georges S. Steven
son, of Craven,
Isaac Ramsey and L. T. 0glesby. Of Carteret.
! NJ Stevenson offered resolution to amend the
Bye- Laws making seven instead of five Directors
: quoram.
The meeting then adjourned, to meet IN Newt
& again next june Neiobern Union. ~
= We take pleasure in announcing that Joel +. Hill
ESQ. has determined TO take the field again, as {
candidate to represent Stokes county ID tho House
OF Commons fthe next Legislature. -
No Democrat can show better record upon the
Journals Of the State than Mr. Hill He has uni
sformly maintained Democratic sprinciples. The in
4eFsss Of his constituents and the honor and credit
s Of the. State has been his constant wstch- woss
We rejoics 70 hear fhatshe has agan consented. g