The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-02-12
.rcoxr1NuEp FROM FIRST PAGE


renorts in advance of the meeting; but although
he was in the directory, and had access 10 tne
accounts, he himself had not seen them IN Vno
form ia which they were prcseated until .n.s %
day. The directors would be very Glao
stockholders could be enabled to form tneii
opinions concerning the management Oh tue
road from reports published prior to the meet
inc: but it was, under present arrangements
simnlv impossible for this to be done.
Mr.. Gavin proposed to make the nscai year
~ the company close on November 81, msteao
of December 81.
Mr.. Maerath said that to show the disposl-
t;on OF the officers of the road III this NATTER
he would suggest that the time Of holding the
annual meeting should be changed IRON the
escond Tuesday in February to the second
Tuesday in March. This, however, he sa'o,
wonld necessitate change in the bylaws, ana
the sections regulating such changes was fead
by the Secretary. .,.,.;,,
The Chair then stated that resolution
changing the bylaws could not be acted on 81
this meeting, no previous notice having Deea
given. ~. ,,.;on
The question was tnen tahen on VIC A
IN Law the resolution on the table, which was
decided in the affirmative.
The fifth resolution was read as follows:
Reso,ued, That the names, duties and salar-
les OF all officers, superintendents, supern-
tendents of workshops, and foremen OF WorA-
ahons. agents Of transportation, tneir ass'e-
taI,t officers, clerks of bureaus, be annueS re-
oorted to the stockholders by the Presloeno
The resolution was agreed to.
Mr.. Aston then offered tho following resolu-
tions, which he requested should be referreo
To the committee already appointed:
Resolued. That in the opinion OF this meet
mo ibid economy should be observed IN the
msna cement Of the road; that IN view OF ti tne
;nnoyerished condition OF the country ana the
irrespective diminution Of the business OF the
road. in comparing with the former business OF
the road It s but reasonable anu paUpS[ erp ovses
The salaries of officers, agents anu em rNoyees,
shonld be greatly reduced, and their NUMBERS
d;n,in;shed according to the actual exlgencles
P.sol1ed That the salary Of the President
shaIl not exceed thirty-ive hundred donars;
that the salary Of the Superintendent shall noI y
exceed two thousand dollars; tnat tnere snsm s.,a
ho INIT one supervisor-instead OF three or four
with salary Of fifteen hundred dollars; that
the salaries OF the several agents at Charies,
ton Columbia and Augusta. shall oe reduced
In one Thousand dollars each; and that OF an
assistant agents Tor servants) and ASSISTANT
clerks shall be diminished.
Hon. Geo. A. Trenholm said: There is one OF
the bylaws of this company. adopted alter
great deliberation, which provides that the d.
rectors shall appoint all officers and agents re-
onired for the service OF the company, and de-
fines the manner in which applications and ap-
pointments shall be made. According TO tnat
hv-Isw this trust has been imposed upon the
President and Directors Of the South Carolina
Railroad Company, and stand here to declare
that they have conscientiously, and to the best
of their ability, fulfilled the task devolved upon
them. would have no objection to the reso-
luton ifit were couohed in general terms, but
when it makes specific proposltlon TO reduce
the salary Of the President OF this company
am obliged to urge my objections, and state
the reasons Why do 80.
1t has been said by gentleman on my right
that the most moderate salary-a compensa-
ton simply sufficient to provide for the neoes-
sarv wants of life, will command the best talent
in the country. Sir, there never was greater
mistake. Talent and the experience necessary
l., manage the affairs OF railroad company
ara not to be procured for mere plttance.
when our lamented feIlow-citizen, Mr. Conner,
entered upon the presidency OF this ROAD, ms
salary in specie was $4,000. When MIR. Cald-
vel, was called to the chair, his salary was
$1,000. While, at the present time, when specie
Is st forty per cent. premium, the salary is only
$4,000. The salary Of the President OF the aeof-
oia Central road is 1O,OOO; Of the Georgia road
s7nno. and how does the business, and how do
the duties Of the President OF the georgia
road compare with those OF the President OF she
South Carolina Railroad2 Here you have three
branches-one to Augusta, another to Columbia
n third to Camden. You have complicated
machine to manage; and the position is one
which REQUIRES at the head Of affairs a man OF
large experience and ability, and one who has
q thorough personal knowledge OF all the IN
terests involved. Why, sir you are suffering
now. not from rivalry but from hostility, on
the part of other roads. Scarcely a day passes
IN which the President Of this company is not
Obliged to make new combinations, to arrange
through rates, to change prices OF freight, to
determine the question OF transportation, to
secure t,ade, to provide increased facilities for
Messenger, travel; all Of which imposes upon
him him the duty continually Of making new cal
culations and arrangements, for the purpose OF
protecting the vast interests which he has in
charge. Do you tell me that you can get
man to fulfil these duties for the mere cost of
lwing2 Why, sirl every gentleman here,
when he comes to reflect upon the SUBJECT
will see that it is impossible.
Il am not speaking from motives OF friend
ship, though do appreciate most warmly the
present incumbent Of the ofRce-not from mo-
ttyes of partiahty, but ask yoa, If this otdce
should be made vacant tomorrow, where will
Won look for q more able and accomplished
succesgor2
For ave and twenty years I have been
oue of the directors Of this company, and
know, from intimacy with the several gentle
men who have been at its head during that Pc
riod. that it is most difficult, complicated and
arduous duty to manage its affairs; and have
the utmost confidence that when this meeting
approaches the consideration Of the report
now upon the table; when that report is exam
ined in all Of its details, and the business OF the
road is compared with the results OF previous
years:-when the stockholders como, like falr
minded men as they are, to consider the con-
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