The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1868-11-30

adjournment Friday night the motion of
Mr.. Paxton to strike out all Of the resolu-.
tious reported by the majority of the Com
mittee on Proxies was under consideration :
upon that the pending question had been.
| moved and scaled vote called. The first
thing in order this morning was the vote.
The vote was then taken with the follow.
| ing result Ayes, 5, ,43l; noes, 4S,37S.
So the motion of Mr.. Paxton was lost,
and the resolutions reported by the MAORI
| ty sustained.
PERSONAL EXPLANATION.
Mr.. P. II. Aylett arose to personal ex-.
planation. He had been requested since
he came into the hall to correct an error
into which he had, on Friday night, mad
vertently fallen in regard to the subscrip
| ton of certain counties in West Virginia.
He then read the contract by which the
subscriptions of Cabell, Allegheny, and
Wayne had been made.
4 discussion of some length followed be-
tween Mr.. Aylett, Colonel Baldwin, and
Colonel Fontaine, in regard to the county
subscriptions. Colonel Baldwin said if it
had been believed at the meeting of the Vir-
ginia and West Virginia commissioners at
the White Sulphur Springs on the 9th of
last August that the counties would be de-
MED the right to vote in this meeting the
contract could never have been made. MIR.
J. S. Cunningham, commissioner from West
Virginia, said he agreed with Colonel Bald
win. .s.... .....-
Colonel Fontaine said he had no conceal
ment to make in regard to his action at the
Sulphur Springs meeting. When he went
there the subscription of three millions had
not been made, and it was only after the
report of the land subscribers had been re-
ceived that it was ascertained that there
| was o little excess Of three millions sub
| scribed. The commissioners were informed
| that these we're the conditions, but that
| nevertheless the subscriptions were availa-
| ble.. ..
Colonel Baldwin: Did not Colonel Fon-
| taine say to the commissioners that there
was 100000 worth of stock subscribed
for which was available, and did we not act
on his assurance, and that alone
Colonel Fontaine replied that if the COM
missioners did not look for themselves into
| the matter it was no fault of his. He then
read the list Of subscriptions, amounting to
over $500, 900. .--r.,....
Colonel Baldwin: ] would ask the gen.
tleman if the list of land subscribers was
exhibited to the commissioners
| Colonel Fontaine: cannot be positive
about that, but | think the commissioners
must have looked over the list or inquired
into the matter it was certainly accepta-
BILE.
Colonel Baldwin said that the point which
he wished to make was that the commits
sioners had not taken the trouble, nor
thought it necessary, to look over every
paper, but had relied implicitly upon the
statement of Colonel Fontaine.
THE MINORITY REPORT.
which the Chair decided to be on the adop-
ton of the substitute proposed by the mi
nority of the Committee on Proxies.
Mr.. Lyons called for scale vote; which
was taken with the following result: Ayes,
$3.50 noes, 53,l97.
So the minority resolutions were not con-
Cured in.
The majority report was then adopted
without a division.
ORGANIZATION AT LAST.
Mr.. Paxton, chairman of The Committee
on Organization, reported, recommending
that Colonel Baldwin be elected permanent
chairman, and Messrs. Garrett and Neither
land secretaries. The report was adopted,
and the organization thus perfected.
THE BONDS OF THE COMPANY.
Colonel Fontaine offered the following:
RESOLVED, That the mortgage or trust
deed executed by the Chesapeake and Ohio
D,i1r hn 1cf of
1868, to secure the payment of the ten mil
lion dollars $4,000, ,000) of its bonds, and
now recorded in the various counties through
which the road passes from the city of Rich
mond to the mouth of Big Sandy, on the Ohio
river, in West Virginia, be and is hereby
approved and confirmed.
"Resolued, .. That the Board of Directors
shall from time to time fix and decide the
price at which said bonds shall be sold by
the financial agents of the company"
These resolutions were laid on the table.
THE NEW DIRECTORY.
Colonel Cabell offered the following reso-
lutions:
Resolved, That at this meeting, and an
nually thereafter until otherwise ordered
by the stockholders in general meeting,
there shall be elected by the stockholders a
president, who shall also be one of the di-
rectors of the company, and fourteen other
directors of the company, a majority of
whom shall constitute board for the trans
action of business. 1t shall be the duty of
this board Of directors to appoint stated and
regular monthly meetings, and they may,
at their discretion, devolye upon the presl-
dent and any number Of directors not less
than five in all the power to form quorum
for the transaction of business to be done in
the intervals between the regular meetings.
"2. ReSolued, That the said board shall
have power and authority to establish such
rules for the selection. and removal of all
subordinate officers and employees Of the
company, and for its general government
and the conduct of its affairs, as they shall
deem proper, 80 that the same shall not be
inconsistent with the laws Of the United
States or Virginia and West Virginia, and
shall at all times be subject to modification
or repeal by the stockholders IN general
meeting"
On motion, these resolutions were referred
to a special committee consisting Of Colonel
Cabell, James Lyons, Thomas Branch, L..
D. Ramsdell, General John Echols, and
Colonel Baldwin (chairman).
A recess of one hour was then taken.
AFTERNOON SESSION.
On reassembling, the committee reported
favorably upon the above resolutions.
Mr.. Skeen, of Allegheny, moved to strike
out the word " fourteen" and insert the
word "seyen" in the first resolution. He
was willing 10 give the five loaFes ana TWO
fishes to the scalawags and carpet baggers,
but he was not willing to double the hVe