Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1870-09-14
Stockholders Meeting

4NFtNinS.
The annual meeting of the Stockholders of the
East Tennessee, Virginia and Georgia Railroad
took place yesterday afternoon. The attendance
was large.
Rev. Robert Snocd of Monroe county. was
called to the Chairand James G. Mitchell, Esq,
appointed Secretary. The following gentlemen
were appointed
Judges of Election--J II. McGill, Samuel j.
Newman and f. d. Mcssengl.
Clerks of Eectinn--M j. Parrott II VI. All
kin and John Blair.
Committee on Proxics-Wm r.. Sewer. j. r.
Lcnoir and John +. Grisham
The Chairman ON taking his seat announced
in feeling terms the death of Col Tbos. H. CAL
laway, the late President aud roid deserved
tribute to his memory
Mr.. Maynard cand, after culogy on the
deceased moved the appointment of Il commit
tee to prepare suitable resolutions concerning
the sad event
The Chair thereupon appointed Hon. Horace
Maynard Joseph Il. Anderson, j. NJ Meek j.
ii. McGil and Thomas Boyd on the committee
who, after consultation, submitted the follow
ing:
The past year will be remembered in the his
tory Of the Company for the loss by death of
its President, Thomas H. Galloway. Esq. He
died ON the 18th day of August last, after a pro-
Springs, in Monroe county. whittier he had re-
sorted in hopes Of relief His connection with
this road rs a Stakeholder and Director dates
very far back, and had much to do in bringing
1t to successful completion and in giving eiic-
ency to its operations.
When the road was surrendered to the Com
pany by the military authorities Of the United
States, at the close of hostitics in 1865. he be-
came Prcsidene of the East Tennessee and Geor-
gia Railroad, and, in 1868, on the deccase of Mr.
Brauner, President of the East Tennessee and
Virginia Kaiiroad of the two roads, both before
add after the consolidation under the united
companies.
From the first to the last. his administration
was beset with serious difficulties During the
war, the interest on the debt, remained unpaid
thereby increasing it one fourth the road had
fallen sadly in dsrepair; the rolling stock was
nearly worn out and destroyed the machine
shops and their equipments had almost disap-
peGred the coun1y had been impoverished and
the business of the road had fallen away, and the
company was absolutely without credit in the
currency markets of the country Such embar-
easements would have appalled,, if not overcome
almost any other man. How successfully he
met them Is best shown in the annual report
which he lived only long enough to read,
giving, rs 1t does the condition Of the debts the
state OF the road and its equipments and APP
pontments, the amount of its business and the
tiattering tone of its credit These facts better
than words bear witness to his unsnrnking
courage, his tircless energy and his untailing
JuuSultllt' Which stctIpU lOF nm tlle commence
of the company and of that pnrt of the commu-
nifty interested in its affairs
We purposey refrain from speaking of him
except in his relation to this company leaving
his character rs a citizen, in his various public
and private relations, to be worthily represented
by larger and more general asscmbluge of the
people and in n more conspicuous memorial
than the pages of our record
OF all who have at any time been presidents
of either of the two roads three only survive
The others have all nnsgpd Iopnl,s
Cunningham Branner, and last, Galloway,
whose death we now commemorate.
The union of the two roads under the manage
ment of single company, was his early and
favOritc policy, and one which he kept steadily
in view, and lived just long enough to see it
completed. He believed it would give greater
efficacy and would be attended with marked
economy So far results seem to have justified
his expectations. In testimony of aur respect
for his memory,
Rcsotrcd, That by the recent dcath of Thomas
II. Galloway, a serious loss has been sustained to
the company of which he had been so long the
President, depriyng it of his vigorous counsels
and of his high personal and financial credit
and we, the stockholders Of the company, are
deprived Of an estimable useful and valued
associate.
Resoired, That in consideration of his long and
effective services the chief administrative Off
Ger of the company the privilege is hereby
granted to his widow, for life, of riding upon
the company passenger trains, free Of charge.
IcSOtttd' lIdl n copy OF THIS record be Ceftl-
fed to the family of the deceased
Respectfully subscribed,
HORACE MAYNARD,
Jos. II. ANDERSON,
JAS. NJ MEEK,
j. II. MAGILL
THoS. BOYD.
NOTE.-By requestof the convention of stock
holders, the papers Of East Tennessee will please
publish the above.
The Secretary then rend the report of the
Vice President, showing the operations Of the
road for the year ending jane 30, 1870, which
shows the Road to be in "a very prosperous con-
dition. That portion announcing the payment
Of the entire State debt, amounting to 81, j63,-
$40 70 for the East Tennessee and Virginia Rail-
road, and 81 553, 5000 for the East Tennessee
and Georgia Railroad, aggrcgating S4ll7 76l.-
10, was received with much satisfaction by the
stockholders. The report urges the establish
ment of two passenger trains pee day, and that
it be advertised by making the line equal to
those competing. The Via President wished
the road operated so rs to foster the spirit of
manufacturing, mining and agriculture in this
section. He also advocates appropriating the
entire earnings to the purchase Of new rails and
other equipments, and fayors the completing of
unfinished lines in East Tennessee. The follow
ing is an exhibit OF the
EARNINGS or rHs ROAD: