The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1868-02-04
B. R. WEXFORD, JR.

am profoundly impressed, Mr.. Chair
man, with sense Of the importance Of the
early completion Of this road to the waters
of the Chesapeake, and close connection
between it and the Danville railroad but
l cannot bring my mind to believe that
either the one object or the other can be
facilitated by the adoption Of the PROPOSE
tion of my friend Colonel Ould The sub
iect which his resolution proposes for the
consideration of an adjourned meeting of
the stockholders is one which, | appre-
bend, under existing legislation, it is pre-
mature for US to agitate. l know of no
authority now vested by law in the stock
holders Of this company, in general meet
ing assembled, or in any other body, in the
absence of legislative sanction, to consoli-
date this company with any other.
The suggested adjourned meeting may,
however, consider and discuss the propo-
bition OF the Richmond and Danville Rail
road Company referred to by your Presi-
dent in his remarks and | presume such is
the object ofthc motion. But as understand
1t, that proposition has never been formally
presented to your Board of Directors and
until 1t has, think it sufficient to leave it
where it properly belongs-with the exc
cutive body of this company. If it be, as
Suggested by my friend, that it was pro-
posal which the Danville Company is pre-
pared to modify in negotiation with this
company, do not think a general meeting
of the stockholders is the most judiciouS
body to consider it. In matters of nego-
tiation and diplomacy such meeting is
the last resort. Suppose, sir, that We ad-
iourn to meet in February, and at such
meeting suggest an alteration in the pro-
position OF the Danville Company, and
with such alteration instruct the Directory
to consummate contract-what is to be
done in the event that the Danville Com
pany decline to accede to the proposed
change unless modified as they may sug-
gest? Are the stockholders of this com
pany to be again convened, and reconvened
from month to month? Such, sir, is not
the policy OF the Danville Company. They
coniide the entire matter to their Direc-
tory. I think they are wise in SO doing,
and see no reason why we should reflect
upon our Directory by adopting different
policy. entertain no doubt of the dispo-
sition Of your Board of Directors to make
contract with the Danville Company to
facilitate the object, which should, think,
be of common and equal interest with both,
upon any terms of justice and Of liberaRty
to the Danviile Company which may not
involve an absolute surrender of the indie
pendence of your own road.
If the proposition of the Danville Com.
pany (before referred toy be, however. their
utimatum, it may be very proper to con-
slider the propriety, in general meeting of
the stockholders, Of giving your Board of
Directors positive instructions to accede to
it; for, as I understand from their report.
their own Judgment does not so incline
them. They express to you their undated
confidence in the ability Of this company to
complete its road to the waters Of the
Chesapeake within the next few months,
and, with such conviction, they naturally
hesitate to enter into the proposed arrange
ment. ! see no reason to Justify any
want of confidence in their judgment. TO
those of us, Mr.. Chairman, who have been
familiar with the very peculiar embarrass-
ments OF this company it cannot appear
strange that your Directory have not been
able 10 complete your road. Nor do think
u can appear strange to any Intelligent
MIND which will consider the matter. What
enterprise of equal magnitude in this inn
poVerished land has been more, or equally.
successful? a''
l have been interested in and connectoa
with this road sufficient length of time
TO have become accustomed to the con,
plants of its impatient friends, to the
sneers of an increduous aud ill-informed
public, and the oft-told prophecy of fail
ure where the wish was father of the
Thought. am not here now to recite its
history. prefer 10 look forward to IFS
destiny, and anticipate that day in the not
distant future when the record Of the in |
difference OF The people Of this city, and
their default in pecunary aid to the
struggling fortunes Of this road, shall be at