Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1872-05-10
Meeting of ahe Stockholders Of She
Wilmington, Charlotte and Rather
ford Railroad
WEDNESDAY,, May Sd, 1872.

~
nnOrhllls aC 1"2 c1ocA'
The meeting was called to order by the
r.,. r. =, I,
1reSluenG OF the company, upon whose
motion Hon r Y NcAdpn Of CharICtte
-. -
was called to the Chair, and MeSSrS. Il. =.
Jobn.oD .,5 r n AIdor,,,o,, arr,o;,,+o5
W - - ~t't''AA-'oN
Secretaries.
= ,r
On motion, COI. Il. l.. Steele and X. NJ.
Oa+oS Fec 1raro constituted . .,ororo;t+oa
O'' -199d" WIZ o0-1S'iI'''O . 4''~N
to verify proxies and ascertain the amount
c., ,
"a stocA IepItSe1Ueu'
This Convention them took q racas2 nntil
I'm No1A A'"hA'1oA '1i0AA '"oA % 40oe~'o 1t4A''4
u m.
On opoin ba;no caIlod to ordar TIM Cor,-
- -'- . ~'''-o>' ~ VI vi ~ O'1A-
.
representation
In narson O Ao7 oboros
n r. ''''' 49,. 0N'
Dy pTcXy... o,z4I
Total 10zA4 :;
AA''1N
The meeting was then declared duly
,>,.ro,,;,oI . ,,,o;o,.;+,- r H., o,;4, .41-
ols"Hl-eu' HldJoi1'J Vi inc Cap4Iai Stoch
being thus represented.
NJ - a., r,...
1ne report O1 tlo TreSIoeAC anu BOARD
of Diractors vas road and sub,oittod I,I,
~
the President, Mr. Martin. It is as
IoIIONS'
To the Stockholders oCtIte Wilmington,
Charlotte and Rutherford Railroad GO. -:
GENTLEMEN AT a meeting of the Directors
OF your Company, held at The Office in Will
Ininpton on the 18th day OF March last it was
decided that Convention OF the Stockholders
should be called to meet in the city of Whining
ton on the third day of Nav. 1870 for the mr.
nose of accepting, should they deem it proper.
and thereby making il a mart OF the Charter of
this Company, of an Act passed by the General
ratified On the Str dav of February. 1879. en-,
titled .sAn Act to enable the Wilmington, Char
ioTte and Rnth.rford Rail Road C9mDanv tn
connIete its road and extend it's road to f ne
Tennessee lire, in the following words to U,It
W.. orni+ +hn i ~ -10 ~ w.
Vour dirac+orv recommend the adont;nn of
tho Act of the General Assembly and its ac-
cantance asa mart of the Charter OF This Com.
PV94nr POard of directors dacr, II of i,uDorf-
o,ico tba+ tLa nrasent coT3it0n or H.. at1tirs ~
tho ConnnanJ he now laid hrfrrc yon tint Won
nav he informed rpoardinp the tIauSaction OF
The nast six months and tie Trosnact, for the
fnturre ~ "
At this Doint it will be we'll to consider the
condi+ion IF +hc CoTnDsny at the time tho
Ivho1a con+ro1 nassed INTO the hands oft tha Roard
W: "o T1;4i 20 IS Ia~nar, - So
tive II wor exnecttJ tIfat \ Iaron amonnt
of socrri+ias owned nv your con, ,ton,r I,o1Id
OF secnFiIleS o"neu py yout CpHlPalIS ."outu
De ihao9 aEallaote' anu anu 'Il10 c@!3ltdlists
~ + Iii III ~ roaS H. diI..,,,nit ~
t 80 W " Ill ,Io1r1r 70 ,,f of ,,o|I frete,i
LtcS W.. 10 ~ ~ 80 - ~ - o. ~, ~ n =: @ "
i1 t hn% and Six hnndred first
800 +! =; - ba,,.iS - ~ .'rro-+ IL, e%t,v
m3 tt1 ~. . hoinrca nIieTsd ~ 10 d,,a ~ ~
oall t 90 80 q o0" ~ o",,iit5oI, nit ha Ia W
, "n il %oI,r nlnTjnIr I,ni~s+ +hia
ConDanIJ for the racoverv of e9p0f ,4GG nat due
conIt,Ta ont from, hvnOhecatrd and n11s0Id first
mortoa oa h0nds Willie ont OF fhe nossax.ion of
tnOi io tssF'tSC Doli"'' "' wv - 49, ~
'1IT I'm ,s+ .ro ro,,,;,,7,,-r ,or, .1a
fra bnndrSSd frst Tnnrt0aoe hnnGs if' the, Sta+o
rreoenrv and the rich "a ssua g. is1G 00 honds
81 oIoti,ar rIoSa viii, which the rod ,.qs IN m
" onrstU'Iatt.,I on'I' enI;rnad ~
Rased nnon the fs. Of these bonds and
s+ocL or |Ta time 0f the annnoi ,-eet-
inc Of the Stockholders in CONVENTION at
C6arIot+e on the ION of October 1871 n con
tract to Complete your road existed, having
been executed ut Charlotte with Mtssrs Geo
: Cameron Henry NJ Drane and A NJ La
tham1 nnder date of july 5, ISL Evr terence
TO the nnhIishpd rpn0rt Of that uoerfinu II VIII
he 'se sch that nnfo4seen difficultiSs htd mr.
fd pe tb .i"S ommenSe,nent Of The v,oTk On III
t f the co1trnctnrs Ass3rances W.. ire
GGiren hot al consas for further i,.Iav xypr r.
S51oyn4 ana thai no det.ntiDn ur further dim
It ,s'1u he annrth4ndd tIat the nlIir
t;aS ;aI1rr.d r. ttIho C1TnnanI- to 1oa.st H..
- 1s-I intors.+ and rtntr iH,r+ ssin1r drIts
wnHld he met nv tho Contractors. and that fh9
Ioe M " 81 +ty +rnc+ nxecI n III I'll III
anSG MI 'h0 i az tbat th. dit 9nI fl
culties We're not removed, and that thcra was
HoTE y notc as addressed 90 the cnotrnctors
GerInring the contract. on Ihc ,lrt OF the C11n
nenw OF an End bv reasI n of the uou-Uprt,,yIn-
pnS ~ +ha a+L1ryment ~, tha ,arf at m. sai,I
to+S. y. ~ %rhirh no ranlv bas erer bne1,
rocsi ronoio6 Cd " "ii''1
IN o[uel W me- 70 III, M ro;JS I'm i
Stmhr 1i2i ~ viii apG.ar hZr the nrintfd
re6tnrt ott6e t;v1 hundrrd bonds r. .ceive.i from
tba Sat- TreasHr.r. two hundred and thirty
% "tT b,n+he"ofad +o sacnrn the Hav,, Mt ~
ss ,0oO, borrowed in Baltimore, OF the Bank OF
WiImin11ton < O. ON the 9Th of November
III . r3rgn NJ. iron arrived from NV York
ootinr % GIe q which had bpen ,urchasnd nv
tbe to bnd the road and the cost or
t;oI, a.. - a,li,,tI To ,n.tt In 0r,rr To nav
NatLoIlut Duh - III m T1L ie a. I r.,
i+3 o. a.. IN ~ eI7nnarv tIa l,ar mn ,a
/ in baltimore became due the Company's treas
uE{ was na hS 70 nedSnc an .d
3it;ni s. aoIrn+ a - of +ittr ho1,s Tf,a vrnr
| amount of bonds thus pledged was three
i,ir1 Hi, orl +hren +iIvrnfy- baliHT
i ilunuA0u an ~ az iu,rvo1- IN sl++IaT, ~
psCIi Polu ~ - 60 49,, b,,,,ll, - "a
OF MS @ accouiitOni1 tI CO. Of ~ ~ hi IN
! .vere 1Iedoed and p9id ont
! Snch was the Dosition OF things in the latter
ppSteiD means to take the contract and finish the
who'll. road bv individuals AU etii2ts D3-OraI
| tLnsucceSsrta. Finding that the assistance of q
| few might be expected, and that the bond
| hoIdnrs w0nId readily take mart in sfcoudiug
| the aid rendered by the friends OF the road
nr pr PrceiItnt nroc9edcd to New York in the
! io+ter nart of necembqr 1871 where. in CON
| enItatinn with the DrincinaI bond-hOdFrs he
! received a proposition from Mr.. Edward
| Matthew's one OF the largest bond d-hOlders Of
| the bonds of your Cornpanv to assume the in
! debtedness Of the Company, which then
! am0nnted to $50 600 or thereabouts 1893 900
/ having been paid by the Company on account Of
! the debA and to furnish iron spikes Joint fast
| enin0s and bolts, upon basis OF forty cents on
| tha dollar of the face value of the bonds, mir.
| Watthews to have the option TO purchase the
. bonds at ffty-tYo cents on the dollar, at any
! time during the year. No charge to be made
/ iron and fastenings and the lowest attainable le
| rate OF Interest on the loans, which during the
ann1 almg u1ap'e" mas - r'' ~
! The bonds at that time were quoted and sold