Spirit of the age. [volume] (Raleigh, N.C.) 1849-1865, 1859-07-27
North Carolina Railroad.

We are indebted to a friend for the follow
ing Information ofthe action Of the stockhold-
erS of the North Carolina Railroad, who as
sembled in Greensboro on Thursday last.
Gov. Morehead presided over the meeting
of the stockholders, and Messrs. G. P. Men
denhall andE, R. Stanly were Secretaries.
Mr.. Sloan, from the committee appointed
on the subject, reported that 7,189 shares of
stock were represented in person and proxy.
The reports of the President and Directors
and of the Finance Committee, were then
read, received, and ordered to be printed.
On motion of DR.. Nesbitt. the stockholders
proceeded to the election of four Directors.
On the first ballot the vote was, Charles F.
Fisher 6,640: Giles Mebane 1922; Gen. R.
M. Saunders 1856 F. Fries 1855; A. Har-
grave $50; J. Morehead SIG; Rufus Bar
ringer $50; 81. Phipher 612 D. Coleman
1859, and some scattering. Messrs. Fisher,
Mebane, and McRae elected. Mr.. Fries was
not a candidate. The stockholders ballotted
again, but there was no election. On Friday
morning they balloted again, when the vote
was Gorrell 2, 449; Saunders 9, $50: Menden-
hall 1874; Coleman 478. Mr.. Gorrell then
rose and withdrew his name, but it was again
put in nomination by one of his friends. Mr..
Dortch withdrew the name of Gen, Saun-
ders, and Mr.. Gorrell was then elected.
John W. Thomas, Esq, of Davidson, rep
resented the State in the meeting of the stock
holders.
The Directors on the part of the State for
the ensuing year are Messrs. Daniel NJ. Bar
ringer, Philemon B. Hawkins, S. Hargrave,
Paul G. Cameron, W. T. Dortch, r. P.
Dick, j. |. Shaver, and DR.. j. D.. Bellamy.
On motion of DIR. Hines, it was resolved
that the President and Directors be directed
to erect a telegraph line along the entire
Road from Goldsboro, to Charlotte, for the
use of the Road.
Mr. M%endenhall moved that the individual
stockholders of the Road be permitted to
make a trip with their families, free of charge
once a year, during the week the meeting Of
the stockholders is held. Rejected after some
debate.
We learn from the Re ,rrt of the Directors
that the total receipts OF the Road, for the
lasttwelve months, amount to 1897, 634 80, o,
an increase over the corresponding period Of
the last fiscal year, of $50, 631 %. During
the fiscal year just closed, the State has beer
paid one instalment of three per cent. on the
million of preferred stock, by a declaration
of a dividend for January last and the SAM
amount has been declared and ordered to b,
paid as the remainder due for the fiscal year
making six per cent. per annum up to jun
1st 1859. The sum of 25, 900 has also beer
set aside as a sinking fund to pay the eigh
per cent. bonds of the Company; and in ad
ditlon to this, a dividend Of two per cent. tt
the stockholders was declared, payable OF
and after the 1st of August.
We would be pleased to publish the Re
port ofthe Directors and of the President il
full, if we had the space. We must howev
er, content ourselves with IN extract from
the Presidents report. And here we take oc
casion to express our high qualification at tn
triumphant manner in which Mr.. Fisher ha
be en- sustained by the stockholders of tn
Road. Those persons most deeply interes
ted in the work, and who are presumed t.
know most about it have decided the contrC
versy overwhelmingly in favor of Mr.. Fisher
He has a right to be proud, as his friends i
both parties are proud of the result.
We make the following extracts from M,
Fishers Report in relation to the condition
and prospects of the Road:
The Table of Receipts show a regular ON
notable increase of our business in each mont
of every year, although we have had no goo
general crop year, since the opening of th
line. The effect of the work on the countr,
and the people, has been marvellous; life, el
ergy and thrift, have taken the place of gel
eral stagnation, and a grateful return com,
to the agent ofthis change, in the result
production, still increasing. Every seaso
will swell this increase; for the work of in
proving, instead of exhausting, one of IL