The weekly standard. [volume] (Raleigh, N.C.) 1869-18??, 1870-10-26
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Wilmington, Charlotte and rutherford
Railroad.

Railroad. ''
I A meeting of the stockholders Of this road
was held in the city of Wilmington on Mon
day last. Gen. Dockery presided over the
meeting. iga. ,sA,.ngaA ysHJ=ilss 5iT z
4 A resolution was adopted declaring that
the road belongs entirely to- the private
stockholders, the State ceasing to be stock
holder, the Legislature having repealed the
appropriation made to the road The num-
Der OF directors was decreased from thirteen
to nine. The following gentlemen were
elected directors by the private stockhold-
ers: Silas n. Martin, H. M. Houston, T.
P. Wells, Edward Kidder, W, q. Michael,
F. W. Kerchner, J. L. Brown mad Thos. S.
Ashe. eli sya. o. s,,e z.,,,7.,,E adr p
DIR. Sloan, the President, submitted a
written protest, in the name of the State,
against the action of the, stockholders in
ignoring the directors appointed by the
State, which. was spread upon the journals.
ol The salary of the President was fixed at
$4,000 in currency. blgoda msd.aD N ! =
The next annual meeting will be. held in
Charlotte on the first Thursday after the
third Monday in October, 1871 % sul
z Immediately after the adjournment of the
stockholders meeting, a meeting Of the new
board of directors was held. ! 4, go ~, =.
! Mr.. Silas N. Martin was elected President,
and Col. s. Z. Fremont General Superinten-
danF 81 biguG gliioIs9 ii1IoE usai
The seven directors. appointed by the
State alsoiheld meeting d, tn Psrocll
House, and proceededao an election of Off
cars, with the following result: VIM Sloan,
President; B. 8. Gdion, Chief Engineer and
Superintendent Calvin J.. Cowles, secre-
tary and Treasurer !. I. T. Alderman, Assis
tant Treasurer, Eastern Division; V. A. Nc
Bee. Assistant Treasurer Western Division;
R. G. Badger, Attorney. All other other Of
fcers at present occupying positions are re-
tanned. n
This action of the Company will no doubt
bring about law suit. We venture no
opinion as to the legality of the proceedings.
The compilation of the road has been delay
ed and retarded long enough. The track is
ready tor cross-ties from Cherryville to Shell
by. ,Two-thirds Of the road is graded from
Shelby to Rutherfordton. We are not in
formed how much work there is to be done
between Wilmington and Charlotte. The
road must be completed. The people de-
mand it. It can be done. and the new Di-
rectors will disappoint a great many people
along the line of the road if rapid progress
is not made while they are in office, toward
completing the road. This is great work,
We have NO doubt that the road would pay
better than any road in 1.-THE State when com
pleted to Ashyille. Wewant the road COM
pletea. 1t, is matter of no concern
to us who completes the road, so it is done.
Mr.. Martin is a man of means. He stands
high among business men, and will no
doubt devote his time and energy to COM
plete the road. General S L. Fremont is
well, known as an extraordinary rail
road man. He has no superior in the State.
His election will give universal satisfaction.
We shall watch the movements Of the
men, officers and directors, and hope that
they will do their whole duty. ''A'' -
. ~ u