The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-12-12


.sszssss.szass
cnstomcd to create priyeteand public wealth
| FROM even an inferior material. From these
resources and the tide OF correctional bus.
ness which, left without constrafnt, must soon
| concentrate upon your line as its natural
channel, ss to be expected, without excess of
| hopeful ardor, that the work and usefulness
OF the improvements you control will be ra-
pidly and probably magnifcd, and with an
Increasing ratio, for generations to come.
These results are not to be attained or ey-
pected. however, without patient and per-
sistent labor, Intelligent enterprise, unremit-
ting energy, and pluck that perseyeres to the
end.
This company, for several years past, has
been boldly prosecuting policy Of develop
ment. A necessity-the necessity of self
preservation, and Of fulfilling faithfully
Its highest duties to Its own interests
as well as to the public-reQuired it.
extraordinary difficulties surrounded its
INCEPTION, and unnecessary ones have
been since superadded. Most of them
nave been surmounted, and all of them
must and will be. The result will be that
which always follows wel-meaut and we'll
directed labor and enterprise faithfully and
honestly and manfuly adhered to-success
And If the measure of it be small at first, and
its progress slow, its continuance is the more
assured, and the benefits and blessings to
those who have )abored and waited for il
oily the more permanent.
The officers and employees Of the company
have, almost without exception, co0perated
faithfully with the President aud Directors
in an efficient and successful discharge of
their respective duties.
Reports from the Engineer and Superin-
tendent for the Richmond aud Danville rGiis
road and the North Carolina division, EXdms
lining Committee, and Auditor, Were sub
mitted.
The reports were, on motion, referred to
committee consisting OF Messrs. Isaac Da-
venport, Jr., Thomas B. Doe, b. F. Garrett,
D. j. Burr, and William II. Simms.
On motion, the meeting took recess until
half-last : O'Clock.
Afternoon Session.
The meeting was called to order by the
Chairman ut $50 p. NJ.
REPORT OF THE COMMITTEE on REPORTS.
The committee to whom was referred the
Presidents and other reports unanimously
approved of the plans and progress indi-
Gated therein, and had no recommendation
to make to the stockholders other than an
earnest prosecution of the work and its con.
nectiOns as now conducted under the man.
agement of the Board. They expressed en-
tire satisfaction with what has already been
done.
On motion Of Colonel w. W. Gordon, the
following amendment was offered:
"ReS0ived. That so much Of the report of
the President and Directors as referred to
the Roanoke Valley, the Northwestern
North Carolina. the North Carolina, and
the Richmond and Atlantic Airline roads
is disnpproved by the stockholders; that
all contracts heretofore made for equipping
and building said roads, or for transfer OF
their interest to this company. or this COM
pany mourning any Obligation on account of
said roads. is iujudcious and illegal and the
Board shall take such steps as shall conform
to the opinion of the stockholders as herein
set forth"
On motion Of Colonel Gordon q scale vote
was called for with the following result:
AYES, 76S; noes, 29,9lG !; SO the amendment
was lost, and the report of the committee was
then adopted.
On motion of Colonel Buford, it was re-
solved that nine directors of this company,
instead Of five, as at present. with the presl-
dent, shall constitute themselves Il board TO
have all things done that are proper to be
done by the company except otherwise pro-
vidcd by law.
FREE TRANSPORTATION.
Mr. Davenport offered the following:
"Rcsolred, That all questions Of free
tuti lao rptoyrpl tn tln r1r,aSilaDt
and directors for such disposition as in their
Judgment will accrue to the best interests Of
the company, and that all resolutions to the
contrary heretofore had are hereby reScind.
ed" Agreed to.
On motion, the resolution was recon-
sidcred.
Mr.. p. F. Bossieux, of Amelia, said the
evident intention Of the resolution was to
"cut" the country members from Il free
ride, and he was decidedly opposed to it; he
had paid for his stock, and had never re-
ceived anything from it eXccpta " free ride"
occasionally, and now it was proposed TO de-
privc him Of that.
Mr.. Binford explained that the intention
of the resolution was not to deprive the
stockholders of their privileges, but to pro-
tccL their interest, as this deud-headlng"
was one OF the most injurious systems i'll
railroad management, and should be cor
rected.
Mr.. BoSsie,lX: If that is the object Of the
resolution withdraw my objection.
Mr.. Scott, of Charlotte, said If the rcsou-
ton did not intend to deprive the stock
holders Of any OF their privileges he would
vote for it.
M. McPhail, of Charlotte: Mr.. President,
what is the meaning of this resolution!
Does it deprive Us, sir, of free ridey
The President cannot construe re3o-
luton. 1t is before the house for adoption
or rejection.
Mr.. McPhail: "Free transportation "
means free rides, sir; and if we are to be
deprived of our privileges l will sell out my
stock to the Pennsylvania road OF "any
other man." [Applausc.]
Dr.. burlington Of Halifax: Mr.. Speaker,
let the mover Of that resolution explain what
he means by it.
NIr. Buford stated that, as he had said be-
fore, this resolution did not intend TO infringe
upon the rights Of the stockholders, but to
protect them.
Ar. McPhal moved that the resolution be
so amended rs to deprive no stakeholder or
legal representative OF the right of free trans
portation.
Mr.. Martin of Henry moved that both re-
solution and amendment be laid on the Ia
BILE; which, after some further discussion,
was withdrawn.
The resolution rs amended was then
adopted.
Sir. Martin offered the following:
bn J,nprla nf Franklin Horny