The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1860-07-10
PHILADELPHIA AND BALTIMORE CENTRAL
RAlIROAD

An adjourned meeting of the Philadelphia and
Baltimore Central Railroad Company was held at
Avondale, Pa, on Saturday afternoon. The at
tendance was very large and the most intense in
terest was manifested by The stockholders, who are
mostly farmers residing along the line of the road
owing to report that had been circulated that
the Philadelphia, Wilmington and Baltimore Com
pany were about to step in, secure possession of
the road.
The committee of nine, appointed at the last
meeting to procure proposals for the construction
and leasing of the road, report but one PROPOSE
ton had been received-from S. NJ. FELTON,, Presi-
dent of the Philadelphia, Wilmington and Balt-
more Railroad Company, and others; that basis
of proposition had been made by others, and to
give time to mature it, they recommended an ad-
journment.
The proposition of FELTON, & Co. was then read,
They agree to take $500, 900 of the first mortgage
bonds of the company (whoe issue $500 00O) at 60
per cent. The $4,000 to be paid at such times
as may be arranged by the parties-Sl55, 900 to be
used in paying the floating debts of the company
and completing the road to Oxford. S25, 900 to be
expended in rolling stock. lease to be given to
them covering all the rolling stock, rights and IT,
ties for twenty years, with the privilege of extend
ing it for twenty years more. They to paw to b,
g. X. Co. the whole of the nett earnings until it
pays the debt on the bonds to the amount of $780,
UUU; ana Wnen the ROAD reaches the SusQueh anna
on whatever bonds are issued in completing the
road. None of the bonds to be sold for less than
rs per cent.
The toll sheets to be arranged by the officers of
both companies. The nett profits are after the
running expenses and repairs are deducted from
the gross earnings. The nett profits should be 80
per cent. of the receipts.
The interest on the 1000 of the bonds taken
by them to be paid the same as upon the Others.
But 500, 900 of the bonds to be issued in COM
Dietinp road q
reaches the Susquehanna.
No more money to be furnished the Philadel-
phia and Baltimore Central by the Philadelphia,
Wilmington and Baltimore Company after the
first S1SO,000.
The following basis for new company to con-
duct and complete the road for the benefit of the
stock and bondhoders was then placed before the
meeting:
1000 shares to be issued at 500 per share
Each share to have vote in the election of off
GERS. and other matters.
This company to furnish the cash to complete
the road and assume all the floating debts They
Will finish the road to Oxford by the first of Oc
tober. For the cost of the rolling stock and other
improvements they are to take the bonds of the
Company at 10 per cent. lease of the road to be
given for Is years.
The rolling stock and equipments of the road
are to be deducted from the gross earnings of the
road. Twenty per cent. of the nett proceeds to be
paid to these stockholders, after which the balance
is to rorate with the bondhoders till the inter
stockholders.
Persons residing along the line of the road tn
have the preference in taking the stock of the new
Compan
After spirited discussion, the meeting adjourn
ed to reassemble at Avondale, on the Dist inst.
G. P. r. JAMES LAST EVENING IN AMER1ca-A
correspondent of The World writes: The evening
before he sailed from these shores never to return
spent with him at the Union Place Hotel. He
was IN great flow of spirits His plans for the re-
Ha to
venice as Consul General for the Adratic a posi-
tion worth some f3 900 per annum In four wears
ne wqua De entitled to his retiring pension, and
residence permanently in Phiadelphia Irving
was with us, and when the two friends shook hands
it with the expectation of meeting again at the
expiration of this time They have met at the end
of the long journey sooner that either expected
James relating to US, among other things, GER
tain leayetaking occurrences, at Richmond, on his
departure from that city. The mere mention of
the cordality shown him by the Virginians quite
overpowered him, and in choked voice he ex.
claimed, "they're warm-hearted people-they're
a warm-hearted people,"
AN OcrARooN CASE IN ALEXANDRIA, VA.-The
Gazette says: At the recent session of the County
Court, two men of mixed blood appeared before
the Court, and having proved themselves to be
octaroOns, possessing but one-eghth of negro
BLOOD asked the Court to certify that thev we're
no negroes. The Court having heard the evidence,
granted the certificates asked for. The object of
this process is to release the parties applying from
the obligations and penalties attached to free
negroes by the laws of this commonwealth. The
application was founded upon the following section
of the Code of Virginia.
"The Court of any county or corporation, upon
satisfactory proof by white person, CT the fact,
may grant to any free person of mixed blood resi-
oent therein. certificate that he is not negro;
winch certificate shall protect such person against
tne penalties and disabilities to which free negroes
| are subject as such.'' s'oe'
ms is, we believe, the first application for the
| in this county. ''"'' ia" ever inaue
ratification meeting of ,ba TTn;o,, co....
tional party will be held at Harrington. Prince
Georges County, Maryland, on the I7t6 inst. ''n''
Lola Montez is recovering from her recent dan.
gerous illness. N'H
The pirate Hicks is to be hung on Friday next
on Bedloe's Island.