The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1868-03-30
THE CHICAGO, ROCK ISLAND AND
PACIFIC RAILROAD.
Change Of Base !
Reorganization Of the Board Of
Directors and Executive
Committee!


Committee! /
Work to be prosecuted with vigor!
The Act Of the xowa 1egislature
Accepted!
It has lust transpired that meeting of
the directors of the Chicago, Rock Island and
Pacific railroad was called to convene at the
Office of the company in the city of Chieago,
at 2 o'clock P. N. of Wednesday, the 25th
inst. The New York ring suspected, it
seems, that a part of the business OF the
meeting would be an acceptance of the re-
cent act of the Iowa Legislature Judge
Grant was ordered to leave Desmoines,
where he was making profuse assurances OF
the desire of the broker memorialists TO use
the money in controversy on the construe-
ton of the road, and to proceed immediately
to Chicago and prevent the acceptance of
the act by a resort to his favorite remedy of
Injunction. He obeyed the order by repair
ine to Chicago and filing in Judge Drum
mond's court petition, asking the court to
refund the money raised to build the road,
and enioin an acceptance of the act OF the
Iowa legislature. At the hour named,
number of the directors appeared at the OF
flee, but there being no quorum, the meeting
was adjourned until q later time. At the
hour to which the adjournment was made,
quorum of the board appeared, and the meet
ing was organized. John B. Drake, of Chi
eaeo. was elected a director, to fill q vacancy
existing in the board. Mr.. Clarke Durant
resigned his dictatorship, and VIM. h. Cool
baugh was elected to fill the vacancy. Some
other business was transacted, and the board
adjourned to meet on the day following, at
Davenport, Iowa. There is a rumor here
that Judge Grant was exceedingly anxious
to serve some papers on the directors at
Chicago, before the meeting, but this is
supposed to be a mistake, rs several OF the
directors say they saw him as they were en-
tering the Office. One of them was so close
that his clothes brushed those OF the Judge,
but seeing him engaged in earnest converse
ton with friend, he politely refrained from
interrupting the parties.
The board met again at the Office of the
company, in the city of Davenport, on the
10Th. Thomas c. Durant resigned his di
rectorship and the board Immediately filled
the vacancy by the election of ]. W. Drury,
resignation of David lows, and the vacancy
was filled by the election of E. A. McNair
of Davenport Charles W. Darant then re-
signed his dictatorship, and the vacancy was
filled by the election of George c. Campbell
of Ottawa, Ill. Thomas S. Sturges then re
signed, and the vacancy was filled by the
election of B. F. Allen, of Desmoines. The
board then adjourned to meet at Brooklyn
e.. &c
When the board was called to order a
| Brooklyn, nine directors answered to thei'
names. The recent act of the Iowa legisla
ture was then considered, and after some
discussion, the board passed a resolution
accepting the act, aud instructing the presi
| dent and secretary of the company to exc
cute and file in the office of the secretary o
state, of Iowa, the acceptance in writing
| required by the terms of the act. The board
| By resolution postponed the election of the
| board of directors until the first Monday IN
| January, 1869, in accordance with the re
| uuirements of the act which has been &C
cepted. Mr.. Coolbaugh offered resolution
declaring that the company will proceed
without delay and with all possible despatch
to construct and equip its road from Des
moines to the Missouri river, which wa
adopted. The board then adjourned to NEE
| at the office of the company, in the city o
! Desmoines at o'clock A. NJ, of the 9th.
| The board met at the Office, at Desmoines
| at the hour designated. 1t was stated tina
| the acceptance ofthe act had been duly file'
| in the office of the secretary of state. Tn
| entire forenoon was devoted to the examina
ton and approval of the contracts for tn,
| construction of the road from Desmoines I,
| the Missouri river, and to making the neces
sary arrangements for the prosecution of tn,
work. Everything was done which wa
deemed necessary by the directors to com
NIT the company irrevocably to the exten
| sion of the road from Desmoines to Council
| Bluffs and to secure the construction of tn
| work within the time required by the act O
| the Iowa Legislature. The old executive
committee having been disorganized by tn
resignation of the directors above mentioned
a new one was appointed, consisting of JOIN
F. Tracy, VIM. F. Coolbaugh, E. Cook, B
F. Allen and E. A. McNair.
The names of the members of the boar
and of the executive committee are alone
a sufficient pledge that the work 10 to b.
prosecuted vigorously. The company is il
possession of ample means, We are assured
| by the directors, to continue the work witt
vigor, notwithstanding any injunctions o
other proceedings which have been or ma,
| be instituted to delay.
| The people of Iowa by their senators an,
representatives have declared their conf
dence in this company. The directory ha
/ promptly accepted the requirements of tn
people. They have admitted to the boart
Coolbaugh, Allen, Drury, Campbell, McNai
and Drake, any one of whom command
more confidence in the state of Iowa thai
all the brokers ''of most kindly feelings OF
| Wall street. The executive committee j
charged with the execution of the extension
of the road, and majority of its member
are citizens of Iowa. The prompt and deci
ded action of the board has strengthened
the confidence of our people in the goot
faith of Mr.. Tracy and his friends.
In the afternoon, majority of the direc
tors visited the capitol while the general as
sembly was in session. Some OF them vii
leave Desmoines this morning. Presiden
Tracy and others will probably remain sew
eral days.-Desmodnes Register, March %.