The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1867-05-04
LooaI Itonns.

OF the stockholders of this Company
was held ut Nickerson's Hotel, on
Thursday, May 2. DR.. M LaBorde
was called to the Chair, and Mr.. c.
V. Darlington, Secretary of the Com
pany, requested to act as Secretary
Of the meeting. The Chairman ap-
pointed Committee to verify prox-
les, and called upon the stockholders
for the amount of their individual
stock. The Committed reported
40, 161 shares represented.
The President, III. z. Hammett,
Esq, read the report Of the Presi-
dent and Directors Of the business
and affairs of the Company, for the
year 1866, and presented it, together
with the Superintendent's report and
the tables of the Auditor and Trea-
surer and Foreman of the Work
shops as tho annual report.
On motion Of Rev. j. P. Boyce,
the reports were referred to Com
mittee, consisting Of Messrs. Aiken,
Harrison, Townes, Hagood and
Stern.
The Convention then took n recess
until s o'clock p. IN.
At the hour to which the meeting
adjourned, the stockholders re- assem-
bled, and d. Wyatt Aiken, ESQ,
Chairman of the Committee on Re
ports, read their report, which, after
some changes being made, was re-
ceived and adopted, as follows:
That they have examined the seve-
ral points in these papers, which to
the cursory reader invited iuyestiga-
tion. We report summarily tho en-
tire indebtedness of the Company to
be something over $2.250, ,000 Tho
expenses of the past year, both ordi-
nary and extraordinary, have been q
little over $500, 600; Of this amount,
1925, 900 have been applied to the
reconstruction of that portion of the
road destroyed by the war and fresh
ct; the total income for the past year
hos been 1921, 600; the actual debt of
the road has, in the past twelve
months, increased $4,000, exclusive
Of the interest accruing upon the
bonded debt Of the Company. That
this amount was not larger was
source OF surprise to your Commit
tee, who feel assured that the road, in
its present condition, is much more
able to liquidate this increased in
debtedness, and successfully survive
its existing encumbrances, than it
| was n year ago to undertake to Ne
build to its present completion.
The wants OF the road are many
0ta1 - IL 4 IL.
position Of tirst.class railroad will
require the expenditure of thousands
of dollars to supply it with the requi-
site amount of rolling stock. Whence
these funds are to be drawn, the Com
mittee are unable to suggest.
They feel assured, from u careful
examination Of the Treasurer's books,
that every item in his too-condensed
report can be substantiated.
| The Committee concur in the sug-
gestion of the President, that the Act
of the Legislature, passed ut the ses-
sion OF 1866, relative to retiring GER
tain bonds Of the road, should be
adopted, and recommend such adop-
ton to this convention.
On motion of Gov. Orr, the Act of
the Legislature in regard to the
bonds was accepted by the stockhold-
ers.
The annual election for President
and Directors was gone into, and re-
suited in 81. p. Hammett, Esq. being
unanimously reelected as President,
and Rev. j. P. Boyce, Daniel Brown,
Esq, Col. Simeon Fair, Alex. McBee,
Esq, Hon. B. +. Perry, Col. T.. d.
Childs, A. G. Hawthorn, Esq, H. Il.
Farmer, Esq, Gov. J. L. Orr, Rob't
Stewart, Esq, DIR. J. W. W. Marshall
and Col. J.: P. Reed were reelected
Directors.
Col. G.. F. Townes offered the fol-
lowing resolutions, which were passed: {:
Resolred, That the stockholders of
the Greenville and Columbia Railroad
Company have heard with satisfaction
that the railroad track from the West
is approaching Asheville, in North
Carolina-only sixty miles from the
head Of the Greenville and Columbia
Railroad-and entertain hopes that
the circumstances Of the country will
ere long warrant an extension of q
connecting road from Greenville, to
meet the railroad at or near Ashe-
vile.
Resolped, That in the event of such
connection, the construction of q
railroad from Ninety-Six, or it's vici-
nifty, to Aiken-for which charter is
! already granted nv this Stata-will