The Highland weekly news. [volume] (Hillsborough [Hillsboro], Highland County, Ohio) 1853-1886, 1874-07-30
roughH ghandC Couny,O No
SOUTHERN OHIO Is. Go.
ResOlut ions Adopted by the
Board OF Directors, July 2S,

HesOlut ions Adopted by the
Board OF Directors, July 2S
1874.
Pursuant to motion, passed at ad
iourned meeting on the 22d inst, the
Board of Directors of the Southern
Ohio Railroad Company met at Hills
boro on Thursday, July %, 1874
Present, VIM. H. Trimble, (Presi-
dent) and J. J. Mcdowell, of High.
land county, E. E. Barney and W.
P. Huffman, of Montgomery, A. w
Doan, of Clinton, and D. W. Emmons.
of Huntington, West Virginia.
On motion of e. E. Barney. the
following resolutions were unani-
mously adopted:
Resolved, That while we hold it
to be vital to the interests of the
corporation, and of the stockholders
and communities we represent, to
preserve the organization of the
Company and its valuable acquisi-
tions, in rights of way, road-bed,
(when existing agreement is execut-
ed) and well established line, we deem
it unwise in consequence of the in
ability of Mr.. Huntington to aid at
present as heretofore proposed, in
the building ofthe road, and the loss
of the Dayton stock by its own linn
itation, and of the general depres-
sion of the business affairs of the
country, to attempt any advance
movement looking to the building of
the road, till more propitious times
and favorable circumstances invite to
action.
Resolved, That no step will be
taken in future, looking to the build
ing of the road, or in any manner
committing the present stockholders
to any expenditure of money what
ever, Except for the payment of the
small debt now due of about $4, ,066.-
73) without first obtaining the con-
sent and approval of the stockhold-
ers, after full notice to them of not
less than thirty days, of any plan
proposed for the construction of said
road.
Resolved, That whenever hereaf-
ter it may be deemed advisable for
the Company to resume active oper-
ations, with the approval and consent
previously obtained of the stockhold-
ers, any stockholder at such time de-
clining to continue or renew his sub
scription, shall be released, and his
subscription on the books containing
the same cancelled; that is, none of
the present stockholders will be re-
quired to pay his subscription, unless
he elects to do so, at the time the
Company resumes active operations,
with the consent and approval of the
stockholders.
Resolved, That the receipts here
tofore given, by a portion of the
stockholders, for the ten per cent. re-
turned, under the impression that
they were necessary to secure the le-
gal existence of the Company, having
been decided by their legal advisers
unnecessary for that purpose, be re-
turned to the parties giving them,
and that the ten per cent. still re-
in the hands of Collectors,
be returned to the stockholders,
the receipts heretofore pre-
scribed, and that theseresolutions be
published in the several counties inter
ested.
On motion of A. W. Doan, the fol-
lowing preamble and resolutions
were unanimously adopted:
Whereas, This being the day here
tofore fixed for the holding of an
election by the stockholders of the
Southern Ohio r. R. Co., at this
place, of a new Board Of Directors
for said company, of which purpose,
time and place due notice has bean |
given by advertisement in the several i
newspapers published in the ,coun-
les on the line of said Road; and
no stockholders appearing |
% participate in said election of a
lew Board of Directors, therefore, i
Resolved, That the said election
or a new Board of Directors be
postponed until the next annual !
election, to wit; the fourth Thurs v
lay in July, 1875, at this place, un-
ess it shall hereafter be deemed to
he interest of said Company to
lold, on the call of the President of
he Company, an election prior to l
hat date; in the event of such called
,lection, due notice to be given to the
of said Company.
On motion of A. W. Doan, the
Board now adjourned to meet again
IN the call of the President.
VIM. H. TRIMBLE,
Pres't. S. r. r. Co.
FRANK W. ARMSTRONG, See'y.
TT tho license repI1IatiOn can be