Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1869-10-29
For the Journal.
For the Journal.
Wilmington, Charlotte and Rutherford
Railroad.
CHARLOTTE, N. c., Oct. 20. 49,


The regular Annual Meeting of the
Stockholders of the Wilmington, Char
lotte and rutherford Railroad Company
assembled in this city this day at Il
o'clock III.
On motion of DR.. VIM. Sloan, Col Wal
ter L Steele, of Richmond county, was
called to the Chair and M. Cronly, of New
Hanover, and G. J. Cowles, of Mecklen-
burg, were appointed Secretaries
The Chairman appointed r. S. Guion
NJ. Cronly Committee to ascertain the
number of shares present in person and by
proxy, which Committee, after vertical
ton of the proxies reported that there were
Represented in person. ........... 1,0G2 shares
BY proxy. 14,073 -
Making a total of.................15 Is, 1876 6.
which being a majority of the Capital
Stock, the Chairman declared the meeting
organized for the transaction of business.
The Committee further reported that G.
l.. Harris. Superintendent of Public
Works, claimed a representation for the
State of North Carolina of $4,000 shares
in the deliberations of this meeting and no
certificate having been granted in con-
formity with the BYLAWS of the Company
they had declined to receive and enter
said Stock, and asked for the action of the
Stockholders upon the question, where
upon discussion ensued, participated in
by G. Z. French and Ii. W. Guicn, and
it was decided to sustain the action Of the
Committee.
The committee further reported that
they declined to receive the proxy from
Arson county, no certificate having been
granted and the party holding the proxy
not being stockholder.
This action was likewise approved by
the chairman
On motion, Messrs. A. Fl. Shuford and
VIM. Ellis, delegates from Catawba, were
invited to seats upon the floor of the Con-
vention.
G. z. French enquired if the subscrip-
ton of 81, 600, 900 on the part of the State
had been received by the company.
DIR. VIM. Sloan, President, reported
having received $500, 200 and submitted
his report with that of the Superintend-
ent, which was read.
On motion, the report was received and
The Chair appointed G.. z. French, J.
M. Hutcheson and E. Bryan as that COM
mittee.
On motion adjourned until 3! p. m.
Reassembled at 81 p. m.
Committee upon the report Of the Pres
ident and Directors, submitted O majority
and minority report as follows:
ma1ority OF the committee to whom was re-
ferred the report of the President and Directors
having considered the same, ask leave to report
that they recommend the approval Of the course
pursued by the President and Directors in not
receiving (save portion for temporary parpo-
sos) the bonds issued by the State in payment Of
her subscription to the capital stock of this COM
pany.
Respectfully submitted,
e. BRYAN,
J. III. HUTCHINSON.
CHARLOTTE, N. c., Oct Goth, 1862
minority OF the committee to whom was re-
ferred the report of the President, beg leave to
report that in his opinion, if the subscription of
State bonds, that the rate at which the bonds |
should be received in payment of the States sub |
scription should decide before any man of them |
are received; as according to the ideas expressed
by the President, it would take, at the present |
price Of North Carolina bonds, nine or ten mil |
lion of dollars in bonds to pay the States sub |
scription, and thereby Cypress the people with
enterprise that might be fatal to it. l recon- |
mend that this meeting do adjourn to meet on |
some day in November, and that the chairman be |
authorized to employ counsel to report at the adj
iourned meeting the proper course for the com.
pany to pursue in the matter.
=. GEO. u. FRENCH.
On motion, both reports were laid on
the table by stock vote.
On motion, the report of the President
and Directors, with the report of the Sup
erintendent, were received.
On ID
Malloy were appointed Auditing commit
tee for the Eastern Division and w. F.
Davidson, w. lei. Michel and A. Cashier
fnr the Western Division for the ensuing
year.
A resolution was introduced that the