Delaware tribune. [volume] (Wilmington, Del.) 1867-1877, 1868-01-23
SMYRNA and delaware nav ~ n

The annual meeting of the stockholders II lne
Smyrna and Delaware Bay Railroad Cuinpu-
ny was held ut their Office, in Smyrna on the 8lh
Inst. From the proceedings as published In the
Smyrna Times we CLEAN the followiug:-
The meeting organized by appointing John A.
Lavender chairman and Ayres Stockley Secretary.
The annual report Of the Directors was submit
ted by Geo. W. Cnmmins, Presidcst. 1t states
that the failure OF the contract with Mr.. DUNCAN,
and his failure to respond satisfactorily to the call
of the Directors for the first installment on the
capital stock, have produced total suspension
of further operations. 1t is now hoped this slis-
pension will not continue after the present win
ter A renewed anxiety on the part Of fruit
growers farmers and Others to avail themselves
Of the advantages offered by new route, viz. of
the Maryland and Delaware the proposed road,
and new roads in New Jersey to New York, has
caused additional subscriptions to the capital
stock, AMI but $50, COO more of such subscl tions
will Justify the Directors in inviting proposals for
contract 10 build the road. This amount they
hope to obtain. There are but nine miles of rail-
road to construct, which 1t IL thought Can be
built for sl0O00O This will give direct new
route to New York without change Of cars, and
two new routes by rail to Philadelphia, and es-
tablish an open competition for patronage, which
the Directors think will result in a saving in
freight and passage of twenty-five cents In adj
dison to these advantages the road will give pro-
duccrs direct communication with navigation on
the Bay The feasibility of great new through
line, OF which this road shall form link is ulst
favorably considered. If the subscriptions arr ia
creased during this winter to s5O,00O or 500, 0Ot
the Directors promise the road shall be III running
i order in time for the peach crop Of 1863 and by
that time it is confidently expected that the con
/ meeting road in New Jersey will also bl c,nllc
/ ted.
c Tie anial report was approved, and yal,- 81
thanks rendered Mr.. Cummins for his yoli1t,ry.
= services To the company.
i The Treasurer submitted statement that Ii
i held balance of funds sufficient 10 ilitot al
c known liabilities Of the company.
e The following resolution was then adopted :
y ReSolred, us the sense Of the Stakeholder
a present.
That Is is cxpedien, for the Board OF Directors
to be this day elected Gas soon at least hit
thousand dollars shall be subscribed 10 the cal t
J, stock Of the Company 10 proceed without ,us
:, o time with final arrangements fol the early
struction Of 1.-The Smyrna d Delaware Bay Kali
road on such route us by the report of IN In
o telgent engineer to be employed by Directors
a Tor that purpose, shall be recommended and aI
proved by tue Board of Directors, coinbnii
l. the following requisites, wiz
e First.-Suicicnt water ut the terminus, on til
~ Delaware Bay, or River.
). Second. Facility and cheapness of construc
% ton.
ID Tbrd.-Where the right of way can be secure
k ut the least expense: provided, however, tia
- the two essential requisites first named shall, u,
- - be compromised thereby.
y The following gentlemen were elected Director
4, \. for the ensuing year: George W. Canmiu-, ia,
:, R. Clements, Ayres stockly, James w.spruanc,
q Henry N. Wickersham, John NJ. Voshe an
4. David j. Cammins.