The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1873-04-17

reports of the President and Vice President
submitted the following as the result of their
deliberations:
To the Stockholders of the South Carolina
Railroad:
| The committee to whom was referred the
reports of the President and other officials of
the company, beg leave to report that they
have given the same the consideration which
the short interval allowed, and are pleased to
discover that the business and income of the
road have materially increased during the past
year, and they have hope that with the con-
tinued improvement of business and the final
arrangement of the floating debt the directors
will feel authorized to declare a dividend.
They recommend the adoption of the following
resolutions:
Resolved That the action of the directors in
the issue of the second mortgage bonds, meets
the approval of the stockholders and is hereby
confirmed.
Resolred That the organization of the bank
be retained, but without expense to the COM
pany, and that the transfer department be
changed from its present location to the treas
urer's Office, and its expenses reduced.'
Resolced That the real estate and other
property not actually needed, be sold as rapid
" as is consistent with due regard for the
interest of the company.
Resolued, That the attention of the directors
be requested to such an adjustment of the
salaries of the officials in the employ of the
company as will result in more economical
expenditure.
Resolved, That the reports of the President
and other officers of the company are satisfac-
tory as showing a continued improvement in
the condition Of the road, and that the affairs
of the various departments have been conduct
ed with their usual zeal and ability.
Respectfully submitted,
G. 81. WALTER,
J. H. JAMES,
JIG. WANNAMAKER,
II. II. DELEoN,
). u. AIKEN; -.
The report having been read, lengthy dis
cussion ensued. MT. j. II. James was in favor
of reduction of the salaries of the officers of
the road.
Mr.. Richard Lathers was of the opinion that
it would be great inconvenience to the public
to change the transfer Office, and advocated the
securing of the best talent for officers, which
he urged could only be procured by paying the
best salaries.
Mr.. Walter stated that the report did not
look to cutting down of the salaries, but only
to an equalization.
After further discussion, participated in by
Mr.. DeSaussure, Mr.. Cathcart, Mr.. Trenholm,
Mr.. Courtenay, and others, the resolutions
embodied in the report were taken up seriatim
and adopted, with an amendment to the second
resolution, referring the question of the remov-
al of the transfer Office to the board of direc-
tors.
The following resolution, introduced by Mr..
w. B. Johnson was adopted:
Resolved, That the thanks of this convention
are due, and are hereby rendered to the Presi-
dent and directors of the South Carolina Rail
road for the judicious and economical manage
ment of the affairs of the company for the
past year. And for the good condition in
which we find the road and for the proper
working of the line, the expenditures do not
seem to be heavier than that of other we'll
managed roads.
After passing resolutions of thanks to the
chairman of the meeting, and to the officers Of
the Bank of Charleston for the use of the hall,
the convention adjourned sine die.