Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-07-28
RAILRoAD DIRECTORS.

Ire Directors OF tho EdEefieId and
Kentucky RaiIrond and the New
Departure : New Charter, New
Name and Increased Stock-Dis
cussiOn without Result, etc..
The Directors OF the Edgefeld and
Kentucky Railroad Company held regu-
lar business meeting yesterday morning In
the gentlenen's parIor Of Linek's Hotel,
President Geo. A Washington in the
chair, and DR.. ]. L. Kirkpatrick acting as
Secretary.
Col. J. @. Stark, appointed at the late
meeting Of stockholders on the committee
TO prepare charter for the organization
of the new company, read the report OF
the committee and charter proposed for
adoption, which have been hitherto pub
lished Gel Stark read also the acts Of
the Tennessee Legislature charteripg the
Edgefeld and Kentucky Railroad Com
pa1y, and likewise the various amend
ments thereto. He also read the act Of the
last Legislsture comforting upon Chancery
Courts the right and power to grant chat
ters Of Incorporation, etc, and explained
to the Directors the bearing Of these vari-
GUS acts and amendments upon the pro-
posed new company. The committee
close their report by recommending TIE
adoption OF the charter submitted for the
consideration Of the Directors The re-
port recommends that the name of the
road be change from that of the Edgefeld
and Kentucky Railroad TO this Nashville
ard Kentucky Railroad.
Among the resolutions adopted at the
last meeting of The stockholders was one
increasing the capital stock to twelve hum
bred thousand dollars, in accordance with
an act Of the Tennessee Legislature, passed
November s, 1853, and also conferriRg
upon the stockholders votes in accordance
with the number Of their shares.
Messrs. Meacbsm, Childress, Davidson,
and Glesves, Davidson County Railroad
Commissioner. were present, and between
them and the Directors some conflict OF
opinion arose as 80 whether or not the ac-
ton Of the stockholders on the 18th OF
June increased the capital stock of the
company to twelve hundred thousand dol
lars, and conferred additional powers upon
individual stockholders.
Col. L S. Cheatham suggested that in
this new enterprise all the good will, all
the credit, and all the money that co1'd
possibly be commanded, was necessary and
essential 10 success, and he hoped to see
no hurtfQl conAict of opinion or unneces-
saTy pickering as to the manner terms aud
conditions Of the new organization.
DR.. Thos. Menees SAID that he was pres
ent to represent the wishes and interests
of the stockholders, and hoped the de!ib
eratious Of this meeting would be SO con-
Quoted as to result to the best possible sd
vantage of all parties concerned The
adoption of the report CT the Committee
being in order. DR.. MeDees advocated it
II an earnest and eloquent appeal, saying
that the action Of the stockholders IL creas-
ing tho oapitsl stock of ths Company, and
giving each stakeholder the right to vote
according TO The number of shsres he held,
was instantaneous, and its inevitable effect
would be to increase the property value
and power Of the new corporation
Oommissiuaer Ieacham replied to the
speech Of De- Monees, claiming that David
son county had always and still retained a
controlling voice in she road, but did not
think this feet made 6 great deal of differ
ence in the management and control Of
the property. he cOald see no necessity
for increasing the capital stock, and stated
his reacous for opposing the admission Of
new blOCkutlOoIS. 1S SOGiOHOCO I'M
there was micro of justice than magma
niInity in the action of tho stockholders
outside Ct Davidson county in surrender
ing a portion of the controlling power
hitherto held by them
Col Washington said tha' the amount
Of capital stock must be increased, or the
new organization would not be able tc
purchase the rood.
The discussion was continued OF some
length between the Directors and the Ds
vi6son County Commissioners, but nc
denim result vas reached.
Mr.. W r. Ssddler moved the appoint,
ment If q committee to ascertain what has
been dpne towards making Saddlersville
IN Robel son county, a regular station
The motion was adopted, and the follow
ing named gentlemen appointed by tht
OLair as said committee: w. Il. Sad,er
J. II. Dunn aad E Cunningham.
On motion, the meeting adjourned unit
~ O'Clock this morning.