Delaware Republican. (Wilmington, Del.) 1843-1874, 1866-01-18

Ustdpdrs $50 PenHsylvdntd cfots Lima hoV- |
'odd Comp sny "A meeting Of the Stockhol~
aers OF the Delaware and Pennsylvauia State
Line Railroad Company, was held in this city,
January 9, 1866.
On mo:ion of VIM. s. Hillss, Zadoc Town
sand WAS called 10 the chais, aud Cbass-W.
Rowland appointed Secretary.
The Directors made the following report;
The Directors report, that since their cleo
t!oR In March last, they have given such st.
-tsuuon as'appeared to be needful, t6.hslt duT;
ties. 4 Considerable delay was sxPerienced Id
coming to an understanding With the Directors
Of the Bsrks and Chester Railroad Company,
in concert. whom Il was thought tolbc de-
| sirsble 70 act, Id procuriuga thorough'survey
OF the whole ground from Wilmington to
Birdsboro' OIL the Schuylkill River. depu.
tstion of four members OF this Board passed
over the whole route of the proposed road IN
| the month Of October last, examining the
ground carefully, and consulting with the par
ties interested in the proposed Improvement at
many different points, and particularly with
the President and other members Of the Board
Of Directors Of the Berks and Chester Railroad
| Company. They were much grati6ed with the
strong interest manifested by many persons In
the project, an interest which appeared to be
shared by the community generally, living
along tie proposed line, and 70 Be based upon
q real want OF the large miuerAl, manutactur-
ing aud agricultural interests OF tho country
through which II will pass. The effect OF thii
personal examination upon the minds Of the
committee was to convince them more strong
ly than ever OF the real, substantial value Of
the undertaking IN Which we have engaged
and further, of the fact, that the business 90
tualiy waiting for. the accommodation of th,
road, and which must be attracted to 1t from
the first of its opening will prove remunera.
| tua 70 ha ato hnl al ;to
from the commencement Of its operations 40
complete work. This opinion Is based upol
actual data of the production and consump
ton Of the region traversed, and 10 shared, W
believe, by all who have thoroughly examine
the subject, and are competent TO judge, in
GLIDING some whose experience and knowledg
of Railroad business in general, entitle thel
: Judgment TO great weight. These estimates
of couree, are based upon the expectation tbs
the road will be economically, yet substar
. TALLY constructed, all useless expenses beiu
carefully avoided; and in particular, that Q
9 step be taken towards the actual commence
r ment of the work; until sufficient stock sui
Q scriptions have been secured TO warrant II, ~
r and to make II certain that the whole can
completed without a resort TO the sale
. Bonds at ruinous sacrifice. This evil, ii
b waste of the capital of the Stockholders
10 improvident and reckless fnanciering, b
70 proved the ruin of 30 many Railroad corpor
% tons, which if conducted upon sound fna
D. cial principles, would have proved successi
}, as investments of the mo Ley employed, appes
J. to the Board of so great magnitude that th
], deem it proper to call the attention of
* stockholders TO it, aud to urge the adoption
0, policy in all our future operations of res
] lutely refusing to involve the corporation
" any expenditures for construction, until I
/, stock subscriptions have reached an amou
q that will secure us against any danger of ia
81 ing into financial embarrassment or serious 10
" 10 raising money to complete the road.
ID rapgements were made, as result of I
Id conferences held with the officers of the Ber
i'll and Chester Railroad Company, to make
ID. thorough survey OF the whole ground, at
Joint expense OF the two companies; and I
m surveys were entrusted to T. Brady, an enl
neer of considerable experience, aud we belle
U one TO be relied oil asimpartisl in the CO
ID parison OF different routes. Tho Board reg
rso that as these surveys are not as yet complet
on they are unable as they had hoped TO lay
ne results 10 complete form before the sto
'ne holders at tteir first annual meeting. tt
= recommend that the Board now to be cleo
OF should continue their attention to the subj
lea as well as to the publication of maps, and
- collection aud dIgsstlug of such informal
w. as they may be able TO obtain bearing on
= subject, and calculated to draw public att
ton TO II. On the completion OF the sprv,
'ou and the receipt Ut the engineers report, I
~ recon- mend that the stockholders should
IN again called together, and the aubjoet laid
III fore them, With view to calling upon our
efs issns aud the public generally for subscripti
OF OF stoex, ufscient TO warrant the undertsE
'ee and e-oure the completion Of this import
work.
,,ol On behalf OF the Directors.
ior W. s. HILLss, Presidsn
InB Wilmi d Qtop. Jan g. 1856