Huntington advertiser. [volume] (Huntington, W. Va.) 1874-1921, 1874-08-06
SOUTHERN OHIO =. t. co.
Resolutions Adopted b. the Board
9Cirectors July 23rt, 1874.

Pursuant to a motion passed at adjourn
ell meeting on the 22nd inst, tie Board
Of Directors Of the ). utnern O4io Railroad
Company met at HiIlsboro on Thursday,
July %, 1871. Present, Wu. II. Trimb.e
President and J. J. Mcdowell, Of High
land county, E. L. Barney and W. T.
Huffman, Of Montgomery, y. W. Dcan, Of
Clinton, and D. ". Emmors, Of Hunting
ton, ". va.
On motion Of Z. L. Barney, the follow
ing resolutions were unanimously adopted ::
Resolved, That while W, hold it to be
vital to the interests Of Incorporation and
Of the stockholders aud communities We
represent, to preserve the organization Of
the Company, AID its valuable acquisi-
tons, in rights Of way, road-bed, lwheH
existing agreement is execUtoi), and "e'l
established line, We deem it unwise in
consequence Of the inability Of Mr.. Hun
t.nston T. aid at present as heretofore
proposed, in the building of the road, and
the loss Of the DAYTON stock by lis own
limitation, and Of Tie general depression
If the business affairs Of tie country, TO
attempt any advance movement looking
to tie building Of tie road till more pro
pitiou, times and favorable circumstances
invite TO action.
Resolved, That no step will he taken in
future, looking 10 the building Of The road,
or in any manner committing tie present
stockholders to any expenditure Of money
whatever Except for the payment Il the
small amount now due of about 81 900, 49,
without first obtaining the consent and
approval Of tie stockhold r., after gllno-
tee t. them OF not less than thirty days,
Of any plan proposed lor the construction
Of said road.
Resolved, That whenever hereafter it
NAV be deemed advisable iIr tie umpa-
NY 10 resume active operations, with tile
approval and consent previously obtained
OF the stockholders, any stakeholder at
such tine declining 10 continue or renew
his subscription, shall be re eased, and his
subscription on the book contaiu.nestHe
same cancelled that is. none Of tie pres
ent stockholders will be required 10 pay
his subscription, unless he e.ects 70 do 50,
at the time the Company resumes active
operations. with the consent and approval
Of the stockholders.
Resolved, That the receipts heretofore
gwen, by portion Of the stockholders,
Tor the ten per cent returned, under tie
impression that they were necessary 10 Sc
cure the legal existence Of the Company,
having been decided by their legal adj
vIsers unnecessary for that purpose, be
returned TO the parties giving them. and
that the ten per cent still rema ming in
the hands OF Collectors, be returaed 70 the
stockholders without the receipt, therefor
prescribed, and that these resolutions be
published in tie several counties inter
eSted.
On motion of 4. W. Doan the follow
ing preamble and resolutions were unani-
mously adopted;
Whereas, This being the day hereto
tore fixed for the holding OF an election
by tine stockholders Of the Southern Ohio
Il. T. Co. at this place. Of new Board OF
Directors Tor said Company, Of which pur-
pose, time and place, due notice has been
given by advertisement in the several
newspapers published in tie counties On