Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1876-11-17
The Chair-The gentleman must confne

L reply, am out Oh Order. do ndu AeVei
been considered an inefficient director until |
the 3. 81 o. Co. had been foiled in an at
tempt to do the Valley Railroad as 1t had |
done the Connelsville Railroad. The y.
& o. by its treatment Of the Shenandoah |
Valley Co. had driven stock trade worth |
5000 OF $500 q week off the Valley Road,
and had damaged the Springs travel by
not making connection. MI Keyser had
gone back on his promises to the company |
Mr.. Keyser said he could only reply to
Col. HIS statements by denying them IN
toto.
Col. I'll. said he had two witnesses-di-
rectors. to his statement.
Mr.. Keyser appealed to the Chair against
Col. II. continuing this irrelevant speech.
Every statement made, he could refute to
the satisfaction Of every stakeholder, no
matter what section he was from.
Col. Hartman was again proceeding,
when Col Asher w. Hartman insisted on
his coming to order.
ELECTION OF DIRECTORS.
A motion was made at last, that the
Valley stockholders retire and nominate
three directors, which they did-nomlna-
ting Col. VIM. Allan of Rockbridge, Ed.
Pendleton of Botetourt, and M G.. Hartman
of Stanton.
Col. Hartman said he was proud to know
that lie was sustained by the stockholders
of the Valley of Virginia, but he positively
declined the position.
Mr.. Duvall, of Baltimore, who had been
counselling harmony during the meeting,
said Col. Hartman had no authority for
saying that Baltimore city would vote
.gainst him, and it was unkind to say it.
Col. H. discaimed any u.kindness.
Col. Allan objected to make new nomi-
ration in place of Col. HI. on principle, and
he was afraid the principle had been
cbscured and clouded by the personal as
rect of the matter. He thought each in
terest ought to be entitled to nominate its
own representative. He was sure Col.
e. meant no offence in his debate with the
oroxy of the B. & O. Co., and would pro-
pose two things: first, that Col. III. should
not utter another word during this meet
ing (laughter) and second, that he should
withdraw his declination.
Mr.. Evans urged Col. II. to withdraw
his declination. No one could forget how
much he had done for the road--too much
in fact, for he he had made the city Of
Staunton subscribe to it.
Col II. disclaimed offence to Mr.. Key
ser, but positively refused to withdraw his
declination. His mind, he said, was il
revocably made up to that.
The name of Gen. Jno. Echols was then
reported by the Valley Stockholders, and he
was heartily welcomed by MI. Keyser, and
unanimously elected.
Messrs Richard Norris, Jr., and VIM.
Keyser where then chosen directors on the
part of the B. & 0. r. b., and Henry Du-
vail and Decatur Il. Miller, on the part Of
the city of Baltimore.
President P. p Pendeton was then
unanimously reelected, and the salaries Of
the President and Attorney fixed at $4,000
each.
HANDSOME BID FOR THE ROAD.
Mr.. Anderson, of Rockbridge, presented
q proposition from the ''National Security
Iron, Coal and Improvement Co." The
proposition says the company has purcha s.
ed iron land in Augusta and coal land in
Montgomery county, and wish to bring the
two in communication, in order to do which
they will,
i. Lease the completed portion of the
Valley r. r. for so years, at ST 200 per
mile per annum, payable in quarterly in
stalments in advance; put rolling stock
to the value of $50, 900 Oh the road, to he
held rs security, and take possession of til e
road 80 daysafter the contract is signed.
2. Complete the road to Salem in Sec
lions of y miles, at price to be agreed on
by their own and the Vale, Co.'S. engin-
GERS ; to be paid for in county bonds Of the
Valley Co. at SO cents and 1st mortgae e
bonds at IS cents the bonds to be placed
in escrow with reliable banker who shall
only pay the interest to the National Sc
curity during the building and not deliver
the bonds themselves until the whole road
is completed.
3. Lease each II mile section as it is
completed at 81 200 per mile per year, and
when the whole road is completed give the
Valley Co. half of the net earnings.
Vice-President W. .. Boyce of the
Shenandoah Valley Co. asked the atten-
ton Of the meeting to the fact that under
their bargain with him the Valley Co. was
not free to accept that bid.
A committee composed of the Valley di-
rectors except Mr. Pendleton, for whom
Mr.. Anderson was substituted and Gen.
Echols, for whom Mr.. r. w. Burke was
substituted, was appointed to look into the
bid Of the N. S. [. G. & I. Co.
The committees could not report We'd
nesday night, SO the meeting adjourned
till yesterday morning.
A WARLIKE PRELUDE.
A few moments after the meeting as
sembled yesterday morning at 8 o'clock,
and before there was a very full attend
ance Of the members, Col. Harman rose to
a personal explanation, and in the course
of it asked If Mr.. Keyser had said che day
before, at the meeting that what he, Har-
man, had said was ''totally untrue"
The Chair said Col. Hartman was out Of
order.
Col. H. said, as Mr.. K. made no answer,
that if he, K, had said what Col. II. had
said was false, he, Col. H, pronounced it
a lie, and was responsible for it here and
elsewhere.
THE OFFER OF THE NATIONAL SECURITY
coMpANv AND 1'Jr styuNANnO,u
VALLEY COMPANY.
The committee appointed to cons ider
the propositions of the N. S. I. G. & I. Co.,
and Of the Shenandoah Valley Co.. re-