Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1869-07-30
RAILROAD MEETING.


MINGToN, CHARLOTTE d RUTHERFORD RAILROAD
lCoMPANY.-The stockholders met in Masonic Hall
yesterday morning at 10 O'Clock, there being
quite full attendance.t
Colonel Walter L. Steele was called to the Chair
and Messrs NJ Cronly and T. Alderman ap-
pointed Secretaries.
On motion Messrs. B. g. Guion and NJ Cronly
were appointed committee to verify proxies and
ascertain the amount of stock represented.
After investigation this committee reported the
following representation
In person 5,58I shares.
By proxy. Observation-Disclosures 500
Total, ..................1488 1856 &"
| A majority Of the capital stock being thus rep
resented the meeting was declared duly organ
lied for business
| The counties Of Richmond and Rutherford not
having paid up subscriptions to stock, ard pos
sessing no certificates. and tho persons to VIII ON
/ the proxy was delegated not being stockholders,
| their proxies were rejected.
| MIR. G. Il. French offered the following resolu-
tons in relation to the Superintendent of Public
| Works.
| WHEREAs, 1t ID represented 70 this meeting
| that His Exceilency, W. w. Holden, Governor Of
this state claims the right to take charge of and
represent the Interests Of the State in this Com
pany, aud to appoint Directors the part of the
State and whereas it is provided by law that U.
l.. Harris, Esq, superintendent OF Public Works,
! shall have charge OF the States interest in ali
| railroads. canals and other works of internal i'm
provement, and vote in behalf of the State at all
elections and in general meetings OF such corpo.
| rations !; be it
| Resoloed. That the stockholders do hereby de-
| clare that they recognize G. L. Harris, Superin-
tendent Of Public Works, as the true and iawt I'll
agent Of The State, and hat he is invested Dy The
act of its General Assembly with the power to
represent the States stock in this Company, to
appoint the Directors in behalf OF the State, and
! to have full and complete control of the stock
heI,t by the State of North Carolina in this Com
p&ny.
! rrGl Assembly, entitled 'an act defining the
.nticG Of State officers" ratified 18th day of
/, april, 1869, provides that the Super utendent
OF Public Works shall have charge of the States
interest in al railroads, canals snd other in
| teTnaI improvements, and vote in behalf of the
State At al elections and general meetings of
! such corporations, be, and is hereby, approved
by the Stockholders. and is hereby declared to be
| accepted as an amendment to the charter Of this
/ Company.
| Mr.. French stated that as there 81 ened to be an
evident intention to transfer the headquarters of
the Company to Charlotte, to the detriment of
tho commercial interests of Wilmington, he in
t7oducsd these resolutions in opposition to that
proposed plan
Hon. 8. J. Person thought the resolutions lust
visions Of the charter and recent amendment
and salluded to the condition as to the bonds
granted by the State. The form Ut the amend
mont had been carried out literally but it's spirit
had been ignored. He then stated the efforts
that had been made to negotiate a sale or n.y.
pothecate the bonds in New York, and the diff
culties there met with in the ruHaors as to the
| probable decision Of the Supreme Court declaring
those bonds invalid. He spoke Of the contem-
plated postpOnement OF the meeting and the
doubts of the advisers of the State as to it's legal
effects. But the Directors, On hearing the de-
cision of the Supreme Court, notwith standing
the short time allowed, had determined to hold
the meeting as originally appointed. Everything
had been performed that was left for the Stock
holders to do but elect Directors in conformity
| with the amended charter, and without partici-
patton by tho State. But should not some one
| delegated with authority let tho Stockholders
know who had been chosen Directors on the part
State, 80 tho Stockholders would know whom to
| elect? One of the seven Directors OF the State
| might otherwise be chosen, 80 there would be
| then only twelve Directors instead of thirteen,
and one of these would be under the necessity of
| magnifying himself into two men-a thing physi-
| cally impossible, however easy it might other
wise be in these days of making great men out
| Of very small material. The amendment had
| been accepted by the Stockholders in good faith ,
and they claimed the right to know if the State
had performed what it is required to do under
the amended charter, and the speaker hoped
resolution would be introduced calling upon the
States representative in order to ascertai n this
fact.
Col. Il. II. Cowan, Pre- .1dent of the Company
also thought Mr.. Frepch's resolutions premature
| or4 cd haiv with
This being agresd to, Col. Cowan offered the fol-
| lowing, which were put to vote and adopted;
| WHEREAS, it is doubtful whether the power of
| appointing seven Directors on the part of the
State, and otherwise participating in the reorgan
lZGtIon OF this Company ls vested in the Governor
| OF the State or in the Superintendent of Public
Works therefore
ResOtoed, That the Chairman appoint COM
mittee OF two persons to communicate to the Gov
ernor or his representative in the city, that this
! Company, now in Convention, is ready to receive
| any communication he may wish to make relative
| to the reorganization.
| Res0lUed further, That like committee of two
| be appointed by the CHAIR to make known to the
| superintendent of Public Works that this Com
pany 10 ready to receive from him any communi-
cation he may wish TO make in relation to the
reorganization OF the Company.
Col. COwan, then moved that the Governor, or
his representative in the city, and tho Soperinten
dent of Public Works be invited to seats on the
flor and toparticipate in the meeting. Carried.
The Chairman appointed as the committee to
wait upon the Governors representative in the
city, Gen. Alfred Dockery and G. z. French, Esq.
On tho Superintendent of Public Works, Hon. o.
H. Dockery and Col R. H. Cowan.
| On motion Of Col. Cowan, the meeting took
recess until % o'clock. to assemble in the City
Hall.
AFTERNOON SESSION.
The meeting was called to order by the CHAIR
/ r,,-- 4l,o ho,r Al, n;+v Hell