The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-05-03

and the other counties will come forward
and deliver their bonds he would he Willing
! % deliver those OF the city OF Staunton. Ii,
| -, 'mcd that the non-de'ivery Of the city
! hnno did not prevent the payment Of ,h'
ron,rac, 'ors.
.Indso ,>heley spoke at length, setting OH
oIo,rly that he Council had the right, as n
! act of lerIsia,. 'on, to lay over these bonds
rrrord,rs, Of M opinion of the city attor
! ncy.
Ma;sr Elder arg.'cd in support of hi
/ opinion that if the cou.-ts occ'de that hoan
! okc'S Inscription is no, aoou inen e'auh
] ton will not owe the $50. "o. ana that WIS
/ why he did not consider it w.'So 20 pay tueS'
| bands until the Roanoke matl>T Is seltieu
! Councilman ker spoke at mhcn icNgtl
against turuin" over the bonds At tue pre-
/ sent time, but stated in conclusion mat II
was nor the object Of the Council to with
/ hold ANYTHING that is due. but claimed mat
! these bonds were not yet due.
On motion OF Mr.. Evans. it was resolved
/ that ibc " hole subject he indefinitely post.
p9ned and the Council adjourned.
immediately thereafter the stockholders
| assembled in. the courthouse and proceeded
! 10 business.
/ My. McLane. from the committee ap-
I p0HtCd TO confer with the supervisors OF
/ Roykbr,dge aud The Council Of Staunton,
made his report. The committee had been
! in conference with both parties, and was
| glad 10 report that a proposition had been
made by the supervisors Of Rockbrdge,
which in the main viii he likely to result IN
/ a settlement of the difficulty Of the road.
! The action taken by the city of S:aunton
| had greatly disappointed the committee.
! Tney had hoped that S.aunton would see
! The Importance Of the situation and would
come forward promptly wIth her bonds and
assist in removing the present emharras>-
mrn,S, but Sha haG not done so. She would
/ pay il the Others would, thus putting her
/ sell at the foot Of the line when she should
/ 'Wyr been At the head.
The proposition of the supervisors OF
/ tockhridgc being OF such 4 character that
I II T, ,ilircs 10 bc submitted 10 the Bal more
and uIio Company and to Baltimore city,
the Commute" recommend that when this
meeting adiournS il adjourn to meet at such
anne and place as the chairman may GrSig-
...,e. 50 ~ to give the committee the oppor-
,uui,v 10 lay this proposition before said
stockholders which recommendation was
adopted.
! President Garrett rendered his resignation,
7
/ 1--WE his views upon the past management O.!
;he road. its present condition, The lli:uIt!eS
under which It has laborcd. and the course
/ plr>ucd Dy the counties OF the Valley with
/ regard to their subscriptions, and the future
! prospects OF the road.
/ Th, resignation Of Mr.. Garrett was &C.
ccptcd.
! |. was then moved and adopted that the
rIecliu. 80 into he election OF president,
! and Mr.. N. G.. Hartman placed in nomination
/ Sir I. L. PcnIiCiun. Of Baltimore.
! Mr. Decatur Miller objected to changing
! The head officers Of The company Il, th'S time
and favored the retaining OF Mr.. Garrett as
2rc>ldci.t OF the company.
! II was then discovered that no quorum
! Sa> present. when the vote accepting Mr.
/ Carrots resignation was taken, and 1t was
moved and resolved tat said vote be recon-
! ~. red. alrU afterwards, on motion, the SUB
! Jecl was laid on the table.
/ Il was moved and adopted that the propo-
Sillon Of tie Supervisors of Botctourt county
vita regard TO their subscription be referred
20 the committee OF stockholders, Of Which
. Mr. McLgiu was chairman, tor report ut at
.iourn"u meeting.
The committee consisting Of Major Shlna-
han and Mr.. kcy>rr, 10 settle the indebted
ness OF the company 10 Tue synulcale, ih;tIic
tucir report through Major Sharahan.
The report states that the calculations
were made exclusively upon the c>timalc>
and report OF the chief engineer, and does
not embrace some questions Of dispute be-
tween certain individual contractors ana the
engineers. The report gives full history
IF the contracts under which the syndicate
| VAS working and the proportion OF pay ment
/ Ilev were 10 receive in bonds and in cash.
/ The total amount Of the Indebtedness CT
! the company 10 the syndicate is 1904, o. 81,
ui which Sl90,0Sl.02 is cue in cash and
Sll3,94GS1 due III bonds. There Is some
u'Grr outstanding indeh ehneSS Of tie COM
! uanv amounting 10 about $4,000.
Al the close of the report Maj0r Shana-
! han. in a short but earnest speech: drew a
lad picture Of the great distress that had
/ been caused 10 the contractors by the action
u the company In su>pending the WORK
! without sufficient notice.
The meeting then adjourned. Max.