The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1870-02-09
SOUTH CAROLINA RAILR0AD C04e
PANY.

The annual meeting of the stockholders Of
the South Carolina Railroad Company, and or the
Southwestern Railroad Bank, convened In the
bank hall at eleven O'Clock.
On motion OF W J. Magrath, president of the
railroad company, the Hon. W. d. Porter was re-
ouested to take the chalr-the secreary OF the
company in accordance with the rule, and E. II.
Barnweil, Esq, by appointment, acting as secre.
taries.
The minutes Of the annual meeting February
9th and 10th. 1862 were read and confirmed.
John C. Cochran, Esq, president OF the South
western Railroad Bank. submitted report VI The
affairs and condition OF that Institution, which,
on motion, was referred to q committee Of three
to report on. Committee: Hon. ~. J. Magratb,
W. A. Wardlaw, James NJ. Shackelford.
The annual report Of the president and directors
OF the South Carolina Railroad Company was
read by Mr.. Secretary Barnwell, and. on motion,
it was, with It's accompanying documents, re.
ferred to committee Of five to report ON ut their
early convenience. Committee: Messrs ]. b. La
ftte r. Murc, ]. P. Southern, S. Hart, Sr., ]. II.
Wilson.
Inquiry being made as to the return OF the
Hon. C. NJ. Furman to London, for the purpose OF
company, in the absence Of Mr.. Furman from the
meeting, submitted paper giving certain in
formation, which was read and received as such.
Mr.. Ellis made some inquiries as to the auditing
OF the accounts of the company by the Finance
Committee OF the board, and, after some debate
upon the subject, in which several members OF
the board participated, Mr.. Ellis submitted the
following resolution:
Resolved Thai ie chair appointa committee OF
five from the stockholders Of this company, the
same to be ratinrd 10y the majority OF the votes OF
the stockholders, the said committee TO net as an
auditing committee, whose duty It shall be 10 cX-
anime the accounts OF this company as many
times rs they may choose during the year, out
not less than twice year.
The resolution having been seconded and dis.
cussed, Mr.. Bruins moved TO lay 1t on the table
and substitute the following:
Resolved, That it shall be the dnty Of the FL
nance Committee Of the board OF directors of
the South Carolina Railroad Company 10 en-
amiuc the accounts OF said road at least twice .
year.
The question being put to lay Mr.. Ellis resou-
ton on the table, it was so decided, whcreupon
Mr.. Bruins asked to be allowed to withdraw his
resolution, which was granted, and no further
action was taken OH the subject.
Mr. Lawton offered the following resolution:
Rpsylred That the stockholders respectfully
suggest to the board OF directors OF the South
Carolina Railroad Company To periodically run
special trains 1T the lowest possible fare, 81 as to
accommodate ull CLASSES OF our people 10 visit tile
country, and To bring the countrymen 10 Char'es-
ton ut such periods OF the year az will be most
convenient and agreeable TO their industrial pur-
suits.
After some renarks on the subject by the presi-
dent OF the company, the question was taken on
the e,olution and it was rejected.
A motion was then made and carried, that
when this meeting adjourn it adjourn to meet
AGAIN In this place at II O'Clock A. NJ, tomorrow.
On further motion, the meeting adjourned.