The Highland weekly news. [volume] (Hillsborough [Hillsboro], Highland County, Ohio) 1853-1886, 1874-07-02
8. o. r. x.
Reply Of Col. Triinbie TO Ques-
tiOns Of Stockholders.

Reply Of Col. Triinbie TO Ques-
tiOns Of Stockholders.
A communication signed Stockholders, y
appeared in the Hillsboro Gazette of re-
cent date, in which the following questions
were asked:
1st- What is the present indebtedness
Cf any of the Companys
I'd. What are the salaries Of any of the
President, Secretary and other members OF
the Board?
Sd. What is the number of voting shares.
and is the Montgomery county stock entitl-
cd to representation in the Board7
4th. Can those who have subscribed
stock and have not paid in ten per cent. OF
amount subscribed, vote9
To these questions Col TrimbIe replies
as follows:
SOUTHERN ONO RAILROAD.
Mr.. Editor:-In answer to the communi
cation in the Gazette of the 18th inst, sign
ed Stockholders, it is necessary to say
that, in consequence of Mr.. Barney's i'll
health, a meeting of the Board of Directors,
at which official action was expected on some
of the points named in that communication,
has been postponed till the middle of July,
and I cannot give specific answers to some
of the questions till after such action by the
Directors.
AT the time of the election of the Direc-
tors it was suggested by member of the
Board, and acquiescedin by others, that fix
ing salaries for the officers of the Company
and adjusting accounts for engineering and
other expenses should be left till Mr. Hunt
ington and his associate capitalists became
parties in interest with the stockholders OIL
the line by a snbscri ption of stock, which,
it was anticipated, would be at an early day.
Difficulties beyond the control of the Direc-
tors of the Southern Ohio Company, or Mr..
Huntington, have prevented the fulfllment
of what was at the time reasonable expec-
tation.
1 am compelled, therefore, to answer the
two first questions by saying that neither
President, Secretary, Treasurer, or Direc-
tor has received any compensation for Ser
vices performed or money expended in the
Company's service-that just debt of uery
inc0nsidera5Ie amount is due for engineer
ing and attorneys fee, which has not been
acted upon by the Board, and is not in po-
sition to be represented to the stockholders,
but probably will be at the time of the cleo
tion on the 23d of July.
The general Railroad Law of Ohio an
swers the third and fourth questions as far
as they can be answered at present. In the
9th Section is the following language: ''Di
rectors shall be chosen by ballot, by sucl :
of the stockholders as shall attend for the
purpose, either in person or by lawful pro1-
es; each share shall entitle the owner to one
vote, and plurality of votes shall be nee
essary for a choice, 61t after the first cleo
ton Of Directors. no person shalt cote on
any share on schich any instalzment is dut
and unpdid. Under this law all stockhol
ders who paid the ten per cent. installment
heretofore called in, and have either left il
in the hands of the collectors or Treasurer
all who received back the ten per cent. and
signed the receipt provided by the Direc-
tors, aud all who pay the ten per cent. tc
the Treasurer of the Company at any time
before the election, are entitled to vote al
the coming election.
The Montgomery county subscribers IL
the stock of the Company do not claim tht
privilege of voting. 1t was hoped and be
| Iieved at the time of fixing a day for thu
election, that the business of the country
would have sufficiently recovered to justify
the effort to renew the stock subscription
in Dayton and obtain liberal subscription
in Jackson, thereby insuring the represen
iation of those important points in thr
election of Directors.
The most positive assurances are gIveI
by the Dayton Directors and other leading
and influential citizens, of the continued
interest of their people in the Southern
Ohio enterprise and of their determination
to aid in its construction, but all concu
i'll the opinion that the fnancia
and business condition of the country AM
of their community are unfavorable at pres
ent for a renewal Of their subscription
The information from jackson is to tn
same effect.
Whether the Dayton stock, or any part o
it, is renewed before the election, 1t is cer
tainly very desirable that Messrs. Barney an
Huffman should be retained as Directors,
they will consent to serve, or if they declin
serving, that others of the staunch friend
of the enterprise in Dayton should be elect
ed to fill their places.
General Mcdowell, Treasurer of tn
Company, has not yet received repol
from the collectors of the counties on tn
line of the number of shares of stock o
which ten per cent. has been paid, and tn
money remaining in the hands of collector
or withdrawn and receipted for
the parties. presume he will have tha
information by the time of the meeting Q
the stockholders in July.
VIM II. TRIMBLE,
Pres S. o. 4. r. Co.