Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1870-06-10
10 OIL

Represented IN person. 5,23O shares
by proxy. O,S2l
Total II, OOl
This being majority of the stock the
meeting was announced by the Chair to
be ready to proceed with business.
President Sloan stated that the business
of the meeting WAS as advertised, and he
submitted for the consideration of the
Stockholders and read IN Act entitled,
can Act to enable the w, g. q Il. r. Il.
Go. to complete their Road and to author
ise the return of State bonds to the Urea
sury."
Col. J. F. Hoke asked that the act be
read again for information, which being
done, Col. Walter L. Steele, of Rocking
ham, offered the following resolution:
ReS0l0ed, That the act of the General Assem-
bly, which has just been read, passed at the last
session, entitled San Act to Enable, &C." rati-
tied the 18th day Of March. 1870, be accepted by
this Company as an amendment to its charter,
Jonrns by the re- s2Red IN the Stockholders
Mr.. LII. w. Guion offered the following
additional resolution as an amendment to
the foregoing:
ReSOtred farther, That all the powers and au-
thority conferred upon this Company by said act
in relation to the issuing OF bonds other evil
dences OF debt, and securing the same by fur
ther mortgage OF its franchises and property,
arc hereby vested in the Board of Directors; and
tho Board shall and may take such action in re-
gard thereto SIS in its judgment will be most
conducive to the interests OF the Company.
This resolution wes adopted by unani-
nous vote, and tho question then REQUIRED
upon the resolution of Col. Steele, which,
after some discussion on Earliame ntary
rules, was likewise adopted
President Sloan then submitted a fur
Their amendment to the Company's char
ter, being an act entitled can Act to Au-
thoTize the W.. @. q Il. II. r. to construct
a branch road in the direction of East
Tenn, on Western Va. K. r.
Col. Steele read the act when Col. Hoke
asked him where that road was to go.
Col. Steele-It is to go where the wood
bine twineth.
Col. Hoke-Where Is that &?
Col. Steele-I don't know Ask Fisk.
Col. Steele offered the following reeolu-
ton:
Resolved, That the Act of the General Assem-
bly, passed at the last session, entitled 4" An Act
to Authorize the W., G. q r. II. II. Co. to con-
Tenn. or Western Va. Road" ratified the 28th of
March, 1870, be accepted by this Company as an
amendment to it's Charter, and that the Secre-
tary copy said Act upon the journal of the Stock
holders. Adopted.
The Chair announced that any further
business of the meeting would now be in
order, when President Sloan stated that he
had no further proposition to make.
Col. Steele then read the Act of the Gen
eral Assembly repeating all appropria-
tons by the State to Railroads, and offer
ed the following resolution :
Resolved, That the said Repeating Act, ratified
the 8th day OF March. A d. 1870, so far as it ap-
plies to this Company, be assented to and that
the Act ratified the goth day Of January, A. D.
1869, and the Act supplemental thereto ratified
the 9th day of April, A. d. 1869, be declared re-
pealed, and as no longer constituting any part of
ind ii is further Resotoed, That said Repeal
ing Act be copied by the Secretary into the Stock
holders Journal.
And is further Resolved, That to remove any
doubt that may exist in the minds of any per
sons, the Directors now having the charge Of the
aHalrs OF this Company shall continue in Office
until the NEXT regular annual meeting, and to
that end their appointment is hereby renewed
and confirmed.
Col. j. L. HOke said that he and others
desired to investigate this matter. as thel @
were some grave points presented by the
resolution, and in order to afford time for
investigation he moved that the meeting
adjourn to l o'clock. There being some
objection to adiourning, Col. Hoke with
drew his motion.
MIR. Hutchinson said that he owned no
stock himself, but he was representing the
stock OF Mecklenburg county, and he de-
sired time for investigation and consulta-
ton he therefore renewed the motion to
adjourn. Motion lost.
Col. Hoke then made some remarks not
exactly antagonistic to the resolution, but
presenting the points which suggested
themselves to his mind in regard to the re-
lation which the State and her seven di
rectors sustained to the company.
FL. w. Guion replied to Col. Hoke's re-
marks, in which he took the position that
the States directors were legally entitled
to hold their offices until the next annual
meeting, and he supported his position by
an argument of some length, and conclu-
ded by saying that it would be most I'M
fortunate for the affairs of the company to
raise any question of that sort now. He
said arrangements were now about per-
fected which secured the early completion