The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1872-10-16


holders in said road convened at the
Nickerson Hall yesterday mo, ming. at 10
O'Clock. The meeting was oalled to
order by President VIM. Johnston.
On motion of Col. J. B. Palmer, r.
A. Springs. Esq, was called to tho chair,
and Messrs. Bouknight and P. s. Cohen
appointed Secretaries.
Messrs. W. B. Stanley, @. H. Manson
and Geo. H. McMaster were appointed
q Committee on Proxies, who reported u
majority OF tho stock represented.
MIR. Newcomer offered the following
resolution, which was unanimously
adopted:
Resolred, That, with view to adjust
ing and providing for the payment of
the floating debt of this company, and
for the purpose of fully completing and
operating the road and it's lines of rail
road, the President and Directors are
hereby authorized and empowered to
issue series of bonds of 100000, of
the sum of $1,000 each, bearing q rate
OF seven per cent. per annum; and to
secure the payments Of the said bonds,
they are hereby authorized to execute
mortgage Of the railroad, and all other
property and franchises of this company,
or any part thereof, the said bonds to be
dated and made payable at such times,
and to be signed, altered and otherwise
executed in such manner, as the Presi-
dent and Directors may determine upon.
Mr.. James II. Rion offered the follow
ing resolution, which was adopted:
Reso!oed, Tint it continues to be the
desire of this company, as expressed in
q letter of its attorneys to the attorney
Of the city OF Augusta, Of Juno last, to
erect, without delay, suitable workshops
IN Augusta, upon receiving an assurance
that suit by the city of Augusta on the
bond given by this company will not bo
prosecuted; and that the executive
officers of tho company be authorized at
once to proceed at once to the erection
of said shops, whenever the suit recently
instituted may be discontinued and as.
surance made that it will not be farther
prosecuted.
Col. VIM. Johnston arose and stated to
the Convention that for the past seven
teen years he had acted as President,
through all their prosperity and adversi-
ty, and that he was now pleased to soy
that through all their difficulties he had
had the support and confidence not only
of the Board of Directors. but of the
stockholders. and on account of ill
health he was compelled to resign his
position as President.
A series of resolutions complimentary
to the retiring President and his ma
nagement of the road we're read by Col.
MoMaster, but withdrawn, on account
OF some objection, before being submit
ted to O vote.
Messrs. A. B. Springs, W. B. Stanley
and j. L. Morehead were appointed q
committee under the following resolu-
ton:
Resoloed, That there shall be Stand
ing Committee of Finance, consisting of
three stockholders. appointed at the an
nual meeting of the company, and two
members of the Board of Directors, ap.
pointed by the latter, whose duty it shall
be to examine in detail the books and
accounts of the company ut stated Pc
RODS, and report their condition to the
Directors as often as they may think ne
cessary; and also report to the stock
holders, in general meetings, such facts
and suggestions as they may deem good
for the interest of the corporation. Elch
member of this committee shall BIZ al-
lowed per diem of SIS while so en-
gagged, and also the privilege Of the road
as to his own travel.
The Committee on Proxies reported
as represented in person 9.925 shares;
by proxy. 8,381-total 8.306.
The Convention then proceeded to
the election of Directors, which resulted
as follows:
John B. Palmer, Thos. J. Robertson,
F. W. McMaster, Columbia; Fl. B..
Plant, Josiah Sibley. John J. Cohen, S.
D. Heard, Augusta, Ga; VIM. Johnston,
r. II. Bridgers, A. B. Davidson, J. w.
Thompson, A. s. Buford. North Carroll
ma; NJ. K. Jesup, New York; James FL.
Kion, W. r. Robertson, Fairfield; w. r..
Walters. Baltimore; d. B. Townsend,
Bennettsville.
Col. VIM. Johnston, late President,
called the attention of the Convention
to several communications which lie
had received from prominent gentlemen
relative to the projected road from
Ninety-Six, on the Greenville and Co.
lumbia Railroad, to Aiken, on the South
Carolina Railroad, and invited the cons-
deration of the Convention to the great
Importance of the road.