Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1872-10-01
Valley Railroad Meeting.

"A mcctluS VI Tic DtOckuOlueFS VI tlo diiey
Railroad Company was held at Salem, Roanoke
county, On Wednesday last, the 25th ult. The
meeting was called to order by Col. Jno. M.
Patton of Botetourt. Geo. E. Price, of this
place, Secretary. The Committee on Creden-
itals reported majority of all the stock pre-
sent. President Robert Garrett presented the
annual report of the President, Directors, Chief
Engineer, and Treasurer.
The Presidents report was an able and inter-
esting one, giving review of the entire history
of the enterprise.
The Engineer report estimated the cost of
road, with iron bridges, $5,7OO,0OO, and gave
IN detail the reasons upon which his estimate
was based.
The Treasurer report showed that there had
been paid, cash, by B. & o. r. r. $500, 900,
Staunton $54, 900, and individual subscriptions
$S2, TT. and that 1913. $50. II had been expend-
ed, leaving balance of 1928, 224 83 in the
hands of the Treasurer.
Judge Shelley offered the following resolr-
ton, which was unanimously adopted.
ResolUed, That the President and Directors
having submitted to this meeting their annual
report, accompanied by the report Of j. L.
Randolph, chief engineer the company, show
Ing, In pursuance Of the resolution Of the Board
poooCu CQ. n,
the location OF the road on what is known as
the central line" through the county of Rock
bridge, this meeting doth approve the same,
and doth direct the Board Of Directors to pro-
coed as promptly as practicable to construct
said road on the line so located through the
county of Rockbridge. oal !,
Resolved, That the Board of Directors be and
they are hereby authorized and empowered to
issue the bonds OF this Company, to be secur-
ed, IN legal form, by a trust deed upon the
Company, for the purpose Of providing, the
means, in addition to the subscriptions of stock
adequate for the completion OF the Valley Rail-
road from Harrisonburg, 10 the county of Rock
lngnam, to some point on the Virginia and
Tennessee railroad aSor near Salem, as reouir-
ed by the Ordinance of the city of Baltimore
ResOtUed, That so soon as the Finance Com
missloners OF the city of Baltimore have paid
up thirty per cent. upon the stock in this Com
pany, subscribed by them, the Board Of Direc-
tors are directed to let contracts in each of the
counties through which the Valley Railroad
has been located, and to procure the bonds of
the respective counties along the line faccord-
Ing to the terms of their subscriptions in or
der that they may proceed, as promptly as
practicable, to complete the construction of the
road throughout its entire line.
DIR. Norris, of Baltimore, offered the follow
ing resolution, which was unanimously adopt
ed:
RESOLVED, That in view of the heavy expense
necessarily incurred by the Company in con-
nection with the meetings of the Board of Di-
rectors, and of the greater efficiency ola Board
consisting of a less number than that of the
present Board, that hereafter the Board of Di-
rectors of this Company shall consist of 10
members, besides the President.
An election of President and Directors being
declared in order, Col. M. G. Hartman re-nom-
mated Robert Garrett for President. He was
declared President by reclamation. Messrs.
Johns Hopkins, VIM. Keyser, P. P. Pendleton,
Z. T. Baldwin, d. HI. Miller and r. Norris,
Jr., Of Baltimore; Edmund Pendleton, OF
Botetourt M. G. Hartman, of Staunton Vim.
Allan, Of Rockbridge, and Geo. w. Han s.
brongh, of Roanoke, were elected Directors.
The following gentlemen were present; J.
Randolph Tucker, Chas. A. Davidson, E. S.
Tutwier. Of Rockbridge; r. NJ. Guy. w. A,
Burke, j. B. Evans, and Geo. M. Harrison, Of
Staunton; r. Norris, Jr.. and Robert Garrett t,
of Baltimore Lewis Linkenhoger, Jno e.
Anderson, and Ed. Pendleton, Of Botetourt
IL. X. Blair and g. w. Hansbrough, of Rca--
noke.
Several other resolutions, of minor import
a1ce, were adopted, when the meeting adjourn.