Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1859-07-20
North.Carolina Railroad.

NOrthsC8fOIna nduIOous
We are indebted to friend for the following m
formation of the action of the stockholders OF the
North Carolina Railroad, who assembled insGreens-
boro on Thursday last. .,..-.......
Gov Morehead presided over the meeting OF the
stocs holders, and Messrs. G. P. Mendenhall and T.
R. Stanly were Secretaries.
Mr. Sloan, from the committee appointed on the
subject, reported that ,1S9 shares of stock were
represented in person and by 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 pro-
ceeded to the election Of four Directors. On the
first ballot the vote was, Charles F. Fisher 6,64S;
Giles Mebane 1922; Alexander McRae {, 344 Ralph
Gorrell 3,14s; Gen. R. NJ Saunders 1895; F. Fries
1885 A. Hargrave g67; j. NJ. Morehead SIG; Ru-
fus Barringer 639; H. Phfer 612; D. Coleman 1859,
and some scattering Messrs. Fisher, Mebane, and
McRae elected. Mr.. Fries was not candidate. The
stockholders baottedagan but there was no election.
On Friday morning they ballotted again, when the
vote was, Gorrell 2446;. Saunders 1850; .Menden-
hall l. 1874; Coleman 49, Mr.. Gorrell then rose and
ination by one of his friends. Mr.. Dortch withdrew
the name of Gen. Saunders, and Mr.. Gorrell was
then elected.
John W. Thomas, Esq, of Davidson, represented
the State in the meeting of the stockholders
The Directors on the part Of the State for the
suing year are Messrs. Daniel NJ Barringer, Phila-
mon B. Hawkins, S. Hargrave Paul c. Cameron,
W. 7. Dortch, R. P. Dick, John l. Shaver, and DR..
j. D. Beamy.
On motion of DR.. Hines. it was resolved that the
President and Directors be directed to erect tee-
graph line along the entire Road from Goldsboro to
Charlotte, for the use of the Road
Mr.. Mendenhall moved that the individual stock
holders of the Road be permitted to make trip
with their families free of charge year, du-
ring the week the meeting of the stockholders is
held. Rejected, after some debate.
We regret that Gen. Saunders was defeated as
one of the stockholders Directors Gen. S. belongs
to the "old guard of internal improvement men in
North Carolina He has stood by the cause in its
darkest hours; and probably no man in the State
has contributed as much as he has, by tongue and
pen, to originate and advance the internal improve
stood expressing dissatisfaction at the election of
Messrs Fisher, Mebane, McRae, and Gorren They
will no doubt acquit themselves we'll and the
Board taken all together-the stockholders Direct
ors and the States Directors-present an array of
ability and practical talent which would compare
we'll with the Board of any similar corporation any
where in the country; but, we repeat, we regret
tbotG ap tod hat II
ing. We express it, not as Raleigh man, but as
citizen of the State and friend of internal improve
| ments.
We learn from the Report of the Directors that
the total receipts of the Road for the last twelve
months amount to $685., 634 30 or an increase over
the corresponding period of the last fiscal year, of
$5O,63l %. During the fiscal year just closed, the
State has been paid instalment of three per cent
the million of preferred stock, by declaration of
dividend for January last; and the same amount
has been declared and ordered to be paid as the re-
mainder due for the fiscal year, making six per cent
per annum up to June LIST, 1859. The sum of $685.
600 has also been set aside sinking fund to pay
the eight per cent bonds of the Company; and in
addition to this dividend of two per cent to the
stockholders declared, payable on and after the
LIST of August.
We would be pleased to publish the Report of the
Directors and of the President in full if had the
space. We must, however, content ourselves with
an extract from the Presidents Report And here
we take occasion to express high qualification at
the triumphant manner in which Mr. Fisher has
been sustained by the stockholders of the Road
Those persons most deeply interested in the work,
and who are presumed to know most about it, have
decided the controversy overwhelmingly in favor of
Mr. Fisher. He has a right to be proud, as his
friends in both parties proud of the result
Where is Mr.. Worth?
We make the following extracts from Mr.. Fishers
Report in relation to the condition and prospects Of
the Road:
"The Table of Receipts shows regular and nota.
BILE increase of business in each month of every
year, although we have had no good general crop.
year, sin0e the opening of the line The effect Of
the work on the country, and the people, has been
Marvellous life, energy and thrift have taken the
place of general stagnation, and grateful return
comes to the agent of this change, in the result Of
production, still increasing. Every season. will
swell this increase; for the work of improving, in
stead of exhausting, one of the most variousy pro
ductive regions to be found, is only begun. Every
season 700, Will increase the humDer as well as the
quantity Of productions.
During the coming year, we may expect conf
IDENTIFY large increase to our business both to and
from the Western North Carolina Rail Road now ir
operation to the fine valley of the Catawba nearly
40 miles, and soon to be opened 20 miles farther
Our connections with this road at Salisbury are wei
arranged and convenient as was highly important
for the point junction for the two Roads, destined
in the future to make chief part of the creates
Through Line, as it is unquestionably the nearest
and most direct between the valley of the Missis
sippi and the Atlantic Ports, both os our own Stat
and the Chesapeake.
think so far as it is possible to judge of tn
future of our work. by its history so far, we hav
every reason to be satisfied and hopeful The roa
is now clear of floating debt, and has deposit
Of over $780, 900 to pay on the Bonded debt of $780,
600. So that in fact, we owe less than $500, OOO
the Bond debt at this day. We have paid the Stat