The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1869-07-11


nies' and of the Gan5iolidated H company,i
COLUMBIA AND AUGUSTA IR. s. R.
'';" FIRST DAY. i.1syo ! JIs
nos. ..r Cohu,dB1A. July. z, 1869.
According to q call of the President of
the Columbia andii Augusta Railroad.
Company, the stockholders met this
afternoon. at the Nickerson House. t
D On motion of Col. Wm. Johnston,
the Hon. J. II. Wilson, of North Caro-.
lima, wes called to the Chair, and Messrs.
Henry A. Meetz and. Thomas E.. Gregg
appointed Secretaries.
On motion, General John A. Young,
MIR. John j. Cohen and DR.. John Fisher
were appointed Committe to Verify
Proxies.
After o short absence, Mr. Cohen,
from said committee, reported that
24,S57 shares were represented in person
and by proxy.
The meeting proceeded to business.
Mr.. John j. Cohen, in behalf of MIR.
Il. +. Russell, the Chairman of the Com.
mittee on the part of the Columbia and
Augusta Railroad upon the consolidation
OF the road with the Charlotte and South
Carolina Railroad, submitted the follow
ing report:
The Committee appointed on behalf of
the Columbia and Augusta Railroad
Company to meet similar Committee
on the part of the Charlotte and South
Carolina Railroad Company for the pur-
pose OF arranging the terms of consoli-
dation of these two companies into one
and the same body corporate, under the
name of the Charlotte, Columbia and
Augusta Railroad Company, ask leave
respectfully to report:
That, in accordance with the terms
and spirit of their appointment, your
Committee met in joint conference with
the Committee on the part Of the Char.
lotte and South Carolina Railroad Com
pany, at the city of Augusta, on the 9th
day of May last; and after full, free and
harmonious Interchange of views and
opinions between them, wherein was
fully discussed all matters pertaining to
the value of the property of the two
companies, their respective assets and
liabilities, and the comparative and rela-
tive value of the stock of the two compa-
MES, but more particularly the terms and
conditions on which the consolidation of
the two companies should take place.
the joint committee unanimously recon-
mended the adoption of the following
to wit:
ReSolced, unanimously, by the Com
mittee appointed by the Charlotte and
South Carolina Railroad Company and
by the Committee appointed by the Co.
lumbla and Augusta Railroad Company,
that we recommend the consolidation of
the two companies, and upon the follow
ing terms, to wit: Each share of stock in
the Charlotte and South Carolina Rail
road Company shall be converted into q
share in the consolidated company; and
every four and one-half shares Of stock
in the Columbia and Augusta Railroad
Company shall be converted into share
in the consolidated company; and where,
in the last named apportionment, frac-
tlons OF share may result. the owners
thereof may, at their option. complete
the unit. by paying for the necessary all
ditional shares of Columbia and Augusta
Railroad stock, at the rate of $40. SO per
share; or they may receive pay for their
surplus shares at the same rate.
Mr.. James G. Gibbes offered the fol-
lowing resolutions rs substitute for the
report OF the committee:
Resolced, That the stock of the Char
lotte and South Carolina Railroad and
that of the Columbia and Augusta Rail
road be consolidated, and that the two
companies be united under the name of
the Charlotte, Columbia and Augusta
and that new certificates of
stock be issued to the stockholders on n
basis of four shares of the Columbia and
Augusta being equal to one share of the
Charlotte; and that when fractions of
shares occur, the holder shall have the
option of either selling his stock to the
company, at fifty cents on the dollar, or
of paying Mt that rate to make full
share.
Resolceol, That due regard and re-
spect for the interests of Columbia, the
present terminal point of the two roads,
render it necessary to guarantee that on
all tariffs of freight and schedules no
unfair or unjust discrimination shall be
used to the prejudice of Columbia and
her interests. @
Which were forcibly advocated by the