Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1867-11-01

holders has fallen upon most competent
gentleman.
AT meeting of the Directors held sub
seouent to that of the Stockholders, we learn
that Col. ROBERT II. CowAN was reelected
President, Messrs. B. S. GUIoN and W. L.
EVERETT, Superintendent of the Western
and Eastern Divisions respectively; MessrS.
Y. A. NcBEE and I. T. ALDERMAN, Treasu-
rers, and W. H ALLEN, Master Of Trans
portation. A compliment merlted by the
faithful services of the officers.
areeti,s of the stockholders OF the wiz
miuston. Charlotte and Rutherford
RaIlroad Company.
The Stockholders of the Wilmington, Charlotte
and Rutherfol Railroad Company assembled in
regular annual meeting at Linconton, on the Esd
day Of October, 1867.
Dir. VIA. T. J. Miller, OF Gleavoland county, was
elected Chairman Of the meeting, and Messrs W.
e. Michal and I. r. Alderman Secretaries.
On motion Col. W. L. Steele and the Secretaries
we're appointed Il committee to verify proxies and
ascertain the number of shares represented.
The committee reported that 1888 shares were
represented in person and 49, 779 by proxy, making
. total Of I8O17 shares Represented, which being
q majority OF the whole stock, the meeting was
declared duly organized and ready for business.
The report Of the President and Directors to-
gether with the accompanying reports from the
Superntenderts Treasures, Masters OF Trans
portation, and Master OF Machinery, were sub
hi; ted to the meeting; and upon motion, were
referred to a committee Of three, 10 examine and
recommend the action proper to be taaen by the
Stockholders with respect to them
j. H. Hutchinson, OF NeckIenburg, VIM. J. Hoke
and VIM. MOTIF, Of Cleaveland, We're appointed by
the Chairman to constitute this committee, and
retired for the discharge Of the duty assigned
! them.
! The meeting then adjourned till O'Clock P. II.
/ At 2 O'clock 7. II, the meeting was called to
order, and J. NJ. HutchisoD, in behalf of the COM
1nittee submitted the following report and reaolu-
lions which were adopted:
The commit tee TO whom was referred the reports
r? + itlCnt and Directors. aid Of the Super
! intcuiGnts and ITeasuEors, ask leave to report,
! That they have not, in the bl!et time at tAeir
! command. been able 10 make 4 thorough exam
nation Of tho said reports, but nave been nlncii
interested in the able and satisfactory report OF
tie President aud Directors. LII the varied lpioT-
NATION it presents touching our great enterprise,
it reflects crDllt nNOn lis author, and cannot LHt
contribute greatly 20 promote the interest OF the
! In reference TO d connection with the Western
North Carolina Eailroad, your committee RECON-
mend the Continuance OF the committee Of DifeC-
tors on that sub iect, and that Ii the event they
/ cannot agree with the Company upon e JOINT sur
vey Of 3 route to the Tennessee line, that sur
| ycv be made under The auspices OF tins Company.
. 70 that end they recommend he adoption Of the
following resolutions =. NJ. AUTC'IsoN,
i W. II. MCTTZ,
i W. J. HONE.
ItssC'ceG, That the action OF the Board Of Dircc-
tors, Oh the subject @! tbs connection with the
Western Eortn Carolina it"iiIoad Company, Is
nr1i i1nOll ttpfl a
pointed by the Board OF Directors Of this C0mpa-
iiy IL hereby continued. with power TO m&so sur
vcy2, &nd, by ali ether means, to investigate tie
IteS5jced, That t Western North Carolina
Railroad Company be requested 10 stare the terms
and conditions upon which they propose to IL IKE
the connection, and that The Board ct Directors
Of that Company be invited to meet ours as soon
} as the Committee may be ready to report, at such
place as may be agreed on, to the end that JOINT
action may be t&Hen ana 3 definite conclusion at
tanned il possible.
Resojced, That full power is hereby given to
the Board OF Directors OF this Company to decide
this question as, IN their judgment, may be best
for the interests Of the Company.
The unfpiehod Lusine,s OF tie last anoual
meeting was than taken up and disposed OF as
follows:
tst. resolution from the Mayor ard Aldermen
OF the city OF Wilmington, follows:
CLERK AND TREAsURERs OFFICE,
CITY OF WILMINGToN, Oct. 18th, 1866.
R9SOtrrG, That IN consideration OF the very
large amount OF tho stock of the Wilmington
Charlotte X Ruther ford Railroad Company held
by the City vi Wilmington, that the proxy tor tbs
City appointed TO represent the stock Of the City
at the NEE ting Of the stockholders of said Com
pany to lie held this day, are hereby instructed
to present, for the consideration of the Stockhod
ers OF SAID company, tDG MANIFEST Propflety O
appointing the II 4yOr Of the City, or some nOml
, nee Of the Board OF Aldermen OF the City, as one
Of the Board Of Directors of said Company.
4 tue copy from the Minutes.
RICHARD j. JONES, CleTE pro tenn.
Which was unanimously rejected.
%. resolution by Mr. Crony, az follows:
: Resolved, That at the next regular meeting
Of the Stockholders, the Committee 10 verify
Stock shall re Give no shares, either IN person
= by proxy unless a certificate signed by the Pres
!, idcnt and Secretary, be produced evidence o
said stock.
Il Judge French offered the following as substi
/ tute, which, after considerable discussion, wa
= adopted by g stock vote:
= WHEREAS, Many persons, who nave worked on
their Stock otherwise settled for It, have faleC
S to come forward and get out their regular Stool
certificates and 7cAe7cd5. this condition Ct thing
makes an improper exhibit on the books of tn
0 Company, and is frequently the cause of grea
. embarrassment and actereGS, others have faile
to pay their subscriptions according to the term
{ thereof;
ResoLUed, That no Stakeholder shall hereafte
be allowed to vote il any Of the meetings Of thi
body, until he shall have received his regular Gel
! ti6cate OF Stock in accordance with the Charte
L and bylaws.
q On motion, the meeting proceeded to elet
: Directors for the ensuing year, which resulted
the election of the following gentlemen
p Z. II. Cowan, J. A. WcDowcll, S. W. Cole, \. G
Logan, S. j. terson, W l.. Steele, s. H. WaikuI
J G. =. Henderson, a. Il. Honesty, t. S. French
= II. ". Guion, J. IL. Hutchinson, John D. Taylor.
q The following resolution, offered by Col. W. :
Hoke, was adopted
Z ResolUed, That the Directors be requested
J. reduce the fare on the Western DIVISION to tV
: cents per mile less, and freight in proportion
IL and to establish tariff of freight in accordanc
r. and that all amounts Of freight be transported
the rates published.
Dr. W. J. 2. Nj Ter offered the following, whic
Il was adopted:
l. Res05re2, That, in view OF The embarrassed Coz
C ditlon Of this Company, the Board OF Directors
" hereby instructed to reduce far as possible Il
r salaries OF all officers AND employees Of the Con
- pany. and to observe, i'll the management Of /
IL affairs, the utmost prudence ana economy.