Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1873-12-23
Annual Meeting of the Stock
holders of the Atlantic, Mis-
sisippi and Ohio Railroad.

! ~ udl, PuISudhI " HOiiCe, III LlOrarl
Hall, at $50 o clock. p. NJ. Genera
Malone, President of the Company
nominated as temporary chairman
Judge +. n Watkins. of Farmville
who was elected. The house Their
proceeded to business
The Committee on Permanent
| Organization reported in favor of Hon.
Thomas S. BocOck, of Lynchburg, as
permanent chairman,
Mr.. Bocock in assuming the chair
gracefully acknowledged the com
pliment conferred upon him. He
then appointed the Business Com
mittee.
General Malone then offered the
third annual report of the president
and directors of the Atlantic, Mis-
sissippi and Ohio Railroad Company.
which was read. The report makes
the following exhibit:
The gross revenue for the past fiscal
year was s., l93,757 SO; the current
expenses were S1,279,722. % leaving
a balance as net revenue OF
$9l4,065.17; while the correspond
ing results of previous year were :
Gross revenue 81 1853, 053 06 current
expenses, 81, 254, 725.l4; net revenue
S734,327 81.
Here we have gain of 1924, 7O4. 80.
or nearly eleven AID a half per cent,
il gross revenue, an increase If
$i4,997 08, or three and taree>lenths
per cent, IL current expenses, and
an increase of $I79, 1925. or twcn-
ty-four and half per cent, in net
revenue for the past over the pre-
vious fiscal year.
Several motions of business were
made, and referred to the Comm .ttee
on Business, which report WAS made
the order for 6 o'clock ?. NJ, to
which time the session presently ad-
iourned. OIe Of these had reference
to the obligation Of the company to
construct the p opposed Virginia &Ke. =
lucky railroad to Cumberland Gap,
which will be discussed tonight, il
being very generally argued among
the stockholders that the failure OF
General Malone to secure any con
nection with the pro.e ted line at
that point should release him from
the Obligation to build the road.
There may be. however. opposition
developed to this view
AFTERNOON SESSION..
The stockholders meeting con-
vened in adjourned session at 6 ,'cloch
this afternoon.
The Committee on Proxies made its
report, from which it appeared that
l3, 031 shlres of stock are represen
ted in the meeting by proxy, and
1900 shares Of the city of Norfolk
through her representatives. There
was therefore a quorum present indie
pendent of the stock represented 3,
stockholders presenr in person.
The Committee on Business then
submitted its report through the
chairman, Colonel George w Boiling.
of this ely. With reference TO the
Cumberland Gap extension, the re-
port states in general terms that at
the proper time, when the resources
# the company are adequate to justi-
fly tie expenditure, the road will De
constructed. and the committee COINS
Sc patience, &c, in respect to the
enterprise. The report was adopted.
Before the adjournment the i"resi-
dent General William MahoDe) VAS
called on for speech, and responded
as follows;
GENERAL MAHoNE's SPEECH.
Iharlly know to what may speak.
Since we have occupied the trust re-
posed in us we have eudeayored to
discharge our duty. How far we
have deserved your endorsement. l
can only judge by the action of this
meeting
The difficulties we had to encoun
ter are hardly known to you-iuan>
cially and physically-without res"ur>
ces and without fnances-in condit-
ion unequal to renden such a return
as would be required by the public.
Thus, with an made luate equipment,
empty treasury and no credit, after
S ven years it is our pleasure to pre-
sent four hundred miles Of railway,
which eau challen.e an equal length |
OF railway for its equal in the Upited |
States, with an equipment 10 render
a public service with case to ourselves
ana to the benefit Of that public to
move 1900 tons each way per day.
To-day. in seven years, We have
spent seven millions Of dollars OBJ
tanned from the haid earnings of the
company; and from English
not speculative capi>
taIists with an aim 10 control your
We stand to day I'm nva-
ded by foreign influence. 1t is a
Virginia corporation under Virginia
subject to Virginia Legis-
lature. This is our pride, and your
would be unwilling to be
under other direction. Snch is this
OBSERVATION-DISCLOSURES in all its
paris,
We. your directory, are moving
difficulties beyond cur
control have interviewed, not from us,
but from Adventures, in pursuit of
their own personal interest to them
| say the spawn of an
which had .ecome an eu>
sign of disgrace-the creature of
foreign institution. How long this
influence shall disturb US | doubt not
is of short duration. It's habitation
is New York. but the location Of its
security is the question which is hard
TO be solved
Our friends who look to the pro
of our line to the Olio,
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