Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1873-03-08
- - 80 - - = - pm.
NORTHERN CENT?. RAILROAD.
Proposition 10 lease the koad 10 the Petnsyl-
pdnia Central Railroad animated Dis

Proposition TO lease the hoda 10 the Pe,,nsyl-
rdnia Central Railroad-d animated Dis
cuss,on. ..Nfyr.. .a .,.. .t..
Pursuant to call, the stockholders Of the
Northern Central Railroad held n meeting
to-day at noon at Calvert Station, North
Calvert street, for the purpose of holding
its annual election fer q Board of Directors,
and to receive the report Of the present
Board
As the hour of noon approached there
was quite large gathering of solid men,
financially speaking, including MANY ofthe
most prominent business men, and also
financial gentlen1en Of Pennsylvania. who
are interested in the affairs of the Northern
Central Railroad.
At IL O'Clock precisely, Samuel NJ. Shoe
maker, Esq, of the Board of Directors,
called the meeting to order, and on his mo-
tion, the venerable Samuel Small, Esq, of
ork, Pa, was called to the chair.
The Chair directed the minutes of the
last annual meetin. to be resd, after which
j. ID. Cameron, Esq, of the Board of Di
rectors, read the annual report, showing
the condition ofthe atia;ts of the road, and
concluding with the following resolutions,
proposing that, in view dc all the facts pre-
sented, the Northern Central Road should
be permanently leased to the Pennsylvania
Railroad. The resolutions are as follows ::
PROPOSITION TO LEASE THE ROAD.
ReSolred, That committee be appoint
ed to negotiate with the PENNSYLVANIA
Railroad Company for the permanent lease
of the Northern Central Railway, and its
branch roads, to that Company, the same
to be based on All annual rental on its cap
ital stock, and the payment of the interest
on all its obligations growing out OF such
leases, and indebtedness OF every descrip-
! ton, and the payment of the same as it ma
lures; or in the lien thereof an inter-
change of stock so as to merge this compa-
ny into the Pennsylvania Railroad Compa-
ny upon an equitable basis any agree
ment to be subject to the confirmation of
the stockholders at an adjourned meeting
to be called on ten days public notice.
ReSolred, That when we adourn, we ad-
! journ to meet at the call Of the foregoing
committee.
{ The reading of the report and the nc
| cOmpauying resolutions attracted the ear
nest attention of all present, who now
crowded the directors room until even
standing room become scarce, and many
were obliged to catch what they could OF
! the proceedings from positions in the hall.
/ 1t was manifest from the large attendance,
and the buzz of the conversation, that the
meeting was one of no common Importance.
| The rumors that have been in circulation
for some weeks past of movement look
| ing to the accomplishment OF the proposed
| leasing of the road to the Pennsylvania
| Central Railroad Company, had prepared,
! no doubt, all who immediately who were
stockholders in great interest for what the
| directors had to recommend, but neverthe-
less there was something very much like
excitement among some, as they lent an ca
ger ear to catch the language Of the report.
MOTION TO RECoMNIT.
AS soon as the reading of the report had
been finished, Mr.. John Holland, Of Phila-
delphia, stepped forward and, with some
indications of excitement, said he had n re-
solution TO offer in reference to the report
which he proceeded 20 read, in effect, that
| the report of the Board of Directors be
! printed for the information Of the stock
holders, and that the said report be recon-
mtted, with instructions to furnish certain
additional information.
Mr.. Holland said ne wac the owner o
600 shares of the company, and proceeded
to read long speech, embodying as one o.
his references the entire report of the Board
of Directors for the year 1864, and then
passing on to review somewhat sharply the
subsequent management Dl tue roau.
Mr.. Kennedy asked to interrupt the gen
tleman to call attention to the fact that the
charter of the compnny required the elec
ton for directors to take place between The
hours of l and O'Clock p. NJ, and that
unless The election proceeded at once i
could not take place at all.
1t was suggested that the election should
go on whilst the gentleman was making hi
argument on his resolution, Mr., Holland
assented to this, aud proceeded. while the
secretary presented the ballet-box for the
reception of the vote of the stockholders.
Mr.. Holland was speaking when our re-
port closed.-Bdh. Amerlcan.