The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1873-07-07
Meeting OF the Directors of the b. d
o. Railroad.
From the Baltimore Sun Of the 4th.

Meeting OF the Directors of the b. a
O. Railroad.
From the Baltimore Sun Of the 4th.
At the regular monthly meeting ol
the president and directors OF the Bal
timore and Ohio Railroad Company
yesterday, President Garrett in the
chair, various matters Of Importance
were disposed Of. On application ofthe
Washington City. Virginia Midland
and Great Southern Railroad Company
Clate Orange and Alexandria) for aid in
prosecuting its Danville extension, and
offering satisfactory collateral securi-
ties, it was determined unanimously by
the Baltimore and Ohio board to adj
vance from time to time, as might be
needed, in money and credits, the ag-
gregate amount Of 100000, with the
view OF insuriDg the completion OF this
important line southwark at an early
day. A proposition from the same
company to permanently lease to the
Baltimore and Ohio company that por'
ton of its Manassas branch line ex-
tending from Strasburg to Harrison
burg, distance OF fifty-oue miles, was
accepted, at a rental OF $S9, $3.50. gold,
annually. This is on capitalized basis
OF sl,275,0OO, or $4,000 per mile, on
which ! per cent is to be paid per an
mum as the condition OF the lease. This
contract gives an unbroken control OF
the line through to the point at which
the Valley railroad, now in course OF
construction, begins in its progress to
Staurlou and thence to Salem on the
Atlantic, OHIO and Mississippi road.
President Garrett formally announced
bis contemplated trip to Europe, which
he found necessary. and on which ne
will depart from Baltimore early. His
many years OF arduous labor in his
present position have somewhat i'm
paired his health, and his physicians
have suggested his temporary with
drawal. He would have preferred re-
signing the presidency, but it had been
urged that that was not requisite, and
therefore he now coutemplates In deier-
ence to that sentiment, only tempor-
arv severance Of his connection with
the company.
Appropriate resolutions in accept
auce were adopted, expressive OF the
regret OF the board on account OF the
circumstance prompting Mr.. Garrett TO
this step, and returning thanks for his
able and faithful service through the
long period of his connection with the
company, and with the hope OF his en-
tire recovery, and in due time reas-
sumption o'the duty Of the presidency
Nh. John King, Jr., the vice.presi-
dent, was then, on motion OF Mr.. Sol
lera. a State director, seconded by Mr.
Galloway Chcston, unanimously elect
ed president pro tsmpore, and on a com
mit,ee waiting oa and informing him
accordingly, Mr.. King appeared and
accepted the position.
The committee consisted OF j. Spear
Nicholas, J. Carroll Walsh and Thom
y. Sellers. Complimentary remarks
were made by several members in tri,
butte 10 the retiring prssideot, as well
as 10 expression OF the confidence re-
posed in the capacity and experience
Of the neTly-elected president pro tenn
Mr.. Garrett took occasion also 10 ex-
press his appreciation OF the thorough
ness. fidelity and capacity OF both Mr..
Kirg and Mr.. William Keyser, the
second vice president OF the road, in
whose joint hands. as its chief execl-
tive officers, lis affair. would remsin
in his absence. 1t May be stated that
Mr.. King came into the service OF the
company in the ticket department on
September Is, 1854. Subsequently be
became acting psymas,er, then auditor
Of the CON pany, and after that combin-
ed with 1t the duties OF general freight
agent. On the 18th Of December, 1868,
he was elected vice-president. since
which period lie has filled that
office. Mr.. King was in the service
really before Mr.. CARROTS connection
with the road, Mr. G.. having fret been
made director in July, 1855, and
president in 1858. Mr.. Garrett has
thus been fifteen years in the service oi
the company.