St. Charles City Republican intelligencer. [volume] (St. Charles City [Charles City], Iowa) 1857-1861, 1861-08-01

Insisting upon vote Of stockhold-
ers by ballot, as provided for in the
18th article of the Bylaws, the vote
was taken accordingly but a decla-
ration Of the result of said vote was
deferred until a certain committee
could be appointed, and had reported
whether a majority Of stockholders
were present, and whether the holders
thereof were entitled to vote upon any
question brought before the meeting.
This committee having reported that
"a majority of tho stockholders were
present, and that about 500 shares,
and perhaps more were not entitled to
any vote, the President declared that
the aforesaid addition to the Articles
of Incorporation was passed.
Accordingly, among others. | nomi-
mated c. l.. Clauseu and Arad Hitch
cock, and they were elected Directors
in, for, and in behalf of Mitchell coun-
ty-rcceivinG 1926 votes out of 1916
votes, being majority of 500 votes
The following are the Directors
chosen at the last annual meeting of
the stockholders of G. L. 4 NJ. railroad
company G. l.. Clauscn, Arad Hitch
cock, from Mitchell county S. llar-
wood, Il. n. Mathews, NJ. c. Cook,
from Floyd county; VIM. p. Harmon,
from Bremen county. The Directors
holding over are : Il. B. Mason, Chica-
go L. Brown, j. NJ. Ovcrman, S. \.
Bishop, A. S. Smith, and f. Edgerton,
Cedar Falls John L. English, Mitch
ell.
The Mitchell county Bonds are now
in the hands of the Treasurer of said
railroad company, except $4,000,
which amount Of said Bonds has
been paid or disposed of, to Lampman,
Ovcrman, Cameron, and L. Egerton
4 Co., for what services | did not learn.
The Coupons for the said Bonds for the
years 1859 and go | have received
and cancelled.
The Company having now succeed
ed to mortgage its right Of way, and
all app urtcnanccs for $3.50, 900, paya-
bic in 40 years, with interest at I per
cent. per annum, Mr.. Edgerton, the
Contractor, is of the opinion that the
work will be pushed right along, and
thinks he will have the road completed
and in running order as far as Wavcr-
ly within four or five months. In re-
gard to the time of beginning work
in Mitchell county, nothing definite
could be learned, and no promises
were given. But am of the opinion
that it will be good while before
anything will be done in this county
and if the said railroad is completed
and in running order to the State Line
within two years, the company has
done all we can reasonably expect.
According to the proclamation OF
the county Judge, dated October 30th,
1858, and the terms and conditions on
which the Bonds of this county were
issued to the c. +. & NJ. railroad com
pany, said bonds should be expended
in locating and building the said rail-
road in Mitchell county within two
years from the date of issuing said
Bonds. All parties interested are
aware of the fact that these terms and
conditions have not been complied
with, as no work has yet been done on
said railroad in this county, and the
two years aforesaid expired last fall, |
believe but have been informed
that the County Judge of said Mitch
ell County, has granted said company
an extension of time. Whether this
be true, or not, have not asccrtaincd
At last accounts, the bonds of this
county had not been negotiated and,
as before stated, are laying idle and
undisposed of in the hands of the
aforesaid company. If your lIonora-
bic Board deem it proper to pay the
interest on said bouds, under such cir
comstanccs, it would be advisable to
provide for its prompt payment. The
said interest becomes due on the 18th
of January 1862, and amounts to
$4,000.
All of which is respectfully submit.
ted for your consideration.
THEO. ROXIENE,
| Clerk Of the Board of Supervisors.