Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1861-01-30

ted the following reso ,utions, which. after
being discussed by Hon. R. W. Griswold,
Hon. Elisha Whittlesey. and Lemuel lark
ESQ.,, were unanimously adopted, to wit:
ReSolced, IE view of the almost con-
slant adverse circumstances under which
our company have prosecuted their under
taking. we are grati6ed that so much has
been accomplished. and congratulate our
selves that notwithstanding the pressure
brought 10 bear upon our directors by the
stockholders and others to hurry on the
work. that we find the company compara-
tivelv so free from debt.
ReSOlced, In view of the necessity of
the road to the business of the country.
and the undoubted value of the stock. we
entertain no doubts as to its ultimate COM
pletion, and that to suffer what has been
done to be lost while in our power to pre-
vent it, would be alike humiliating and
dishonorable to the country, and imply a
strange disregard of good sense and reason
on the part of the Stockholders.
ResOLced, That we are of the opinion
that thus far all has been with the best in
tentions. and an earnest desire on the part
of the directors to accomplish the work in
hand, that nothing has been lost through
fraud or dishonesty. and We tender our
thanks to the di ectors and employees of
the company for the zeal and interest they
have manifested in our undertaking.
ReSoLred. That in the present embar-
rassed condition Of the country. prudence
and sound policy require that until change
shall take place for the better, no further
expense or liability should be incurred far
ther, than may be necessary in collecting
the debts due the complny, and discharg-
ing every honorable or legal obligation it
may owe. and thus place the officers of the
company in condition to resume active
operations so soon as circumstances will
warrant the ultimate completion of the
work
ResOlred, That in our opinion for the
furtberanee of this object, there should &c
adopted by our directors
lst A system of rigid economy in all
departments of the work.
ID Entire abolition of yearly salaries
to directors or other officers of the compa-
ny. No officer or employee to receive COM
pensation. except for actual service.
Sd. The employment Of one. or at most
two thorough practical business men to pro-
ceed at once to collect all due to the CON-
pany, to discharge all liabilities. and to
settle and arrange all unsettled claims for
or against the company.
4th. All transactions to be had with
due reference to placing the officers of the
CO pany in a safe, sound, and reliable con-
ditien. so as to await in safety the time
when the voice of the stockholders. the
stateof the country. and sound policy shall
dictate an energetic prosecution of the work
to a sure completion
ReSOired, That we pledge ourselves to
meet all our engagements as stockholders.
to use all our influence with others not
present, and to aid in any honorable way
in carrying out the objects set forth in the
foregoing resolutions.
The following gentlemen were elected di-
rectors for the ensuing year: Henry Hub
bard and George Willard of Ashtabula.
James Stone of Morgan. F. H. Corey of
Bristol c. R. Hunt of Warren. John Wet
more of Canf-ld, aud Henry Springer Of
New Lisbon.
The Directors have elected Henry Hub
bard, President; John WetmOre, Vice Pres
ident; Henry Fassett. Secretary and Treas
urer; and in accordance with their own re-
eommendation to the Stockholders. and in
COMPLIANCE with the vote of the Stockhold-
ers, have appointed agents to adjust the af-
fairs of the company. James Stone and
H. Fassett were appointed said Agents,
who will at once enter upon the discharge
Of their duties.