The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1869-06-25
Evausv lie, Henderson & Nashville
Railroad,
stockholders Meeting ut Hen
derSOa.
ReDort offhe President and
Treasurer.
INTERESTING PROCEEDINGS.

Henderson yesterday morning at half
past ten o'clock.
Tie meeting was called to order
and on motion Of Gen. Boyle. Mayor
Walker, of Evansville, was appoin ted
Chairman Of the meeting.
Mr.. Vance, Of Henderson. moved
that Mr. Phillip Sasseen be appointed
Secretary of the meeting. MIR.
Sasseen declined, and Mr.. Jno. G.
Hernden was, on motion Of the same
gentleman, appointed instead.
Mayor Jno. z. Campbell, of Hop
kins County, moved that committee
OF three, consisting OF Geo. Nj. Priest
Esq, Of Henderson; Mr.. Orville Col
Inns, Of Hopkins, and Mr.. A. j,
Waldridge. Of Christian County, be
appointed to ascertain who are stock
holders. Carried.
The Secretary called the list OF
stockholders. The Committee re-
ported the entire number of shares to
be 1876; represented, 14,088; not
repsented, 420.
Mr. Campbell asked if the stock
held by the State of Tennessee was
counted.
The Committee reported it was.
Mr.. Campbell moved that stock
held by the State OF Tennessee be
not counted, on the ground that the
stock held by that State was as col
lateral security, aud consequently she
was not a Joaa fcle stockholder..
After considerable debate, Messrs.
Vance and IDgle speaking in favor OF
counting. and Mr. Campbell against,
tie notion was lost.
General Boyle then read the report
Of the Board of Directors.
OFFICE or THE Il. II. q n. r. r. Co,
HEEDERsoN, KY June p, 1863. J
TO the stockholders o. the ErdasUtiLe, Hen
eleTso1t & NoshUiite II. R. Co.
The Board of Directors Of the Evansville,
Henderson u Nashville Railroad COmpa-
NY. re spectfully submit To the stockhOld-
ers. a. this called meeting, the fOliowiog
Foe Board Of Directors, finding that the
Pre- ideut had failed to obtain subscrlp-
ties, aud the failure and refusal 10 MAKE
these subScri ptions, which n q been re-
lied on, left deficit In the means
OF the company, on the Sth and
/ 2gth of March last, authOrlz. d the Pfesi-
/ deoL of the Com p2ny to solicit from Hen
/ derson, Hopkins, n d Christian Counties
| additional subscrIptions TO the amount OF
/ s5uUuUJ TO the capital STOCK of the com
! pnnv to supply the deficiencv IA enable
| Jhe Comp any to build the road TO compile
| ton by constructing and filing the gap
| between jacksonville and uOpktnsville.
| Propositions were submitted to the
| Counties OF Henderson, Hopkins and
/ Christian in pursuance Of resolutions OF
| the Board asking the respective counties
1 to ~ q Ike subscri ptions to the capital OF TIN
/ Company, ard issue their bonds hearing
/ saven per cent. to be taken In payment OF
/ stock al par, and the Company agreeing o
/ make the stock preferred seven per cent.
| stock, and binding Itself 10 pay the inter
| est on the county bonds after Two years OF
| garAnfee the tivldend on the preferred
| stock should pay the interest on the bonds
| of the respective counties after two years
| The proposition met with decided oppO-
/ siuOn from the people of the several coun-
| ties, and was rejected.
/ This rejection of the proposition and re-
| fusal of the counties 10 make the addt-
/ tiCnaI subscription, rendered 1t necessary
/ TO call the stock holds together, and submit
/ To them a full and complete statement Of
/ the condition of the Company, that they
| might devise the means and take the Eec-
| g ssary step.to extrieate the Company from
| It's present embarrassment, and secure tue
| completion OF their road.
! In Oruer that you may comprehend thO
/ ouehlv the affairs and c0nu ftIon of the
/ Company. the following statement is here
| with submitted for your consideration;
! The whole amount of means re-
| ceived by the Company from
| every source, including sub
| scriptiOns by counties, towns,
! cuies, &c, and from earnings
of r0ao, bills payable, &c.........s1, 753,779 Is
/ Whole amount expended by the
Company, Intending grazing,
/ iron, chairs, spikes, ties, bridg-
| ing. tracklaying, engines, cars,
discount, real estate, depOtS,
cash or hand, &c--...-....--...---.. 75S,7T9 e
For tha items constituting the debit an
/ credit side of this statement, reference is
| made TO the clear and explicit report OF
! Phelps Sasseen, Esq, Secretary and Treas
| urer OF the company, which is also sub
| m,tted herewith, and 10 which your at
Sixtv.three miles of your road has been
| built and is now IN operation, leaving
| only thiriy-nYe mites to be constructed tO
! complete your line from the Ohio River tC
| N lash vine. The cost OF the sixty.Lhree
| miles OF road, exclusive Of rolling stock,
| Including all discount, and extra stock
paid 10 cities and counties, 81 $40 $50 81
| which is S26,S3S % per mile. Deduct al
| extra stock issued TO the counties anC
cities and paid toe the old rcau-bed, anu in
ending the bonds OF the company pale
| for road-bed. right of way &c, and the
cost eli your 63 miles of road is 81 ,O63,32i 81
equal TO S,6S5S 10 per mile.
| The entire means OF the company, ex-
| elusive OF .SStl,t0 OF the first mortgage
bonds of the company and SI00, 600 OF t6t
bonds OF Evansville, to be used only IN I'd,
purchase OF iron, including the credit o
the company 10 the amount of the item o
/ bills pa able OF $50, lS9 % nave beeI used
| in the construction of the 6S miles of you
| road. The amount OF bills payable o
| $50, lS9 70 as set forth in the report of tia
| secretary and Treasurer, was ted g. J.
| IN March as approx imating S6s,OjU, but TIN
| same was Increased by the expense II
| Cured IN building the track into the town
| eff I5Og kinsville, IN the p9rehase of iron
| depot grounds, construction of depot, AT
| other items OF account recently rendered
/ Hra tod hill
| pavabte amounting to $50, lS9 % Is due Rns
1 OWlng. aud Immediate arrangement
should be made for its paymen'. Tn,
! bonds OF The company stand Pledged 70
was represented that about 600 600 O
] the drst mortgage bonds had been eX pend
/ cd on the road, but an accurate exannina
| ton shows that only $780, coo of InOrtgag
| bonds had been expended, leaving on han,
SsII 600 of first mortgage bonds. The iutel
| est on the SlS900J OF mortgage bonds fall
due the LIST DAY of July, prox and sA0uu
| be provided for, together with interest du
in January on part o. the bonds, and re
/ naming unpaid, and never PRESENTED.
A small part, say ten to Twelve per cent
| of exiting Indebtedness of your Compact
consists OF small sums owing to parties O
the line OF the road for materials. right 8.
way, &c, and provision should be mad
for It's prompt payment.
: The means which your Com pauy nOV
have on hands to meet this lndeotedue>
and TO build the remaining thil ty-tive mil L
! | OF road from At<alsonVllle to H0pk InsViil'
, ! 10 complete your road from the ohio Il We
, | TO Junction with all The roads centerin
4 at Nashville, and radiating from tina
, point over the e tire South, Is as follows
| First mortgage bonds OF the Com
6pnds ~ TvsoS1iis - OOo
........-. 100 0lO
whole available means. sqII -0.ll !
This SUM Of s9l1, 600 90 in bonds eonst
tute the means with which your Compa!t
has TO nav its Indebtedness and build an
{ | equip the gap OF Jhirty-ny miles in you
; of trade and travel.
= ENGINEERS ESTIMATE OF COST.
Z In al.Ihe statements made by me, hay
I estlInateu lhe cost of tine IS miles of roa
o 10 be built a, IS 900 per mile. making TN