The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1877-05-16
LOCAL MATTERS.

ADJOURNED MEETING OF TIE STOCKHOLM
YE> OF THH JAMES RIVER AND kANAWhA
CnNrANY-MAIuR JOHNSTON ACCEPTS TIE
PEE>lpENCY-THER RAlLRoAp.- adjourn
cl meeting OF the James River and Kama
villa Company was held yesterday
". McCance in the chair.
Mr.. StrauS stated that the city OF Rich-
mond had no objection to the election OF
Major Johnston rs president; that he mad
only requested delay in the matter until he
could confer with the other proxies OF the
city. Nr. Higgins said he concurred with
Mr.. STRAINS.
Judge Meredith stated that he had pre-
fcrred the canal policy to the railroad, and
II the choice llv between canal-mans and =
railroad-man, he would prefer the canal
man: but aS the stockholders had deter
mined 10 adopt the railroad policy, he
would offer no factiouS objection to the
election OF Major Johnston. He said he
was willing HOW to cooperate with the COM
,,anv in the construction OF the railroad,
aud in this his colleagues were agreed.
The following letter from Major john
,.on wa, then read:
.RIcHaoSD, VA, May 10. 1877.
-. To Ms St0chhoidtrs Of the James Rirer
GrR hQnutrhn Company:
"t;cntiemcn.-Atth the last meeting OF your
elected 10 ill the Office OF president OF
This companv. However l may appreciate
the honor 50 unexpectedly conferred upon
me- tv a majority OF the stockholders, l
could not have failed 10 observe the fact
that at the meeting the city OF Richmond
declined 10 take part in the proceedings.
AS the larges, private >tochholder ana the
largest creditor OF the company, TO say
nothing OF the greatly larger interest
- 4 community than any other in
This State. l beg leave to say that i'll
the present condition OF the company no
administration could successfully or pro-
J,crly attempt its conduct without the hearty
co0peraton and endorsement OF Rlchmond
city. Therefore beg leave to tender YOU
nly resignation. with the earnest hope that
selection may be made Of presiding officer
who shall command the sympathy and con-
1id"nce cf all who are interested in the sue
ce~sful management OF the canal.
Respectfully. JoHH W.>JoHNsToH."
On motion OF DR.. Graham the resignation
was declined, the reason for the resignation
having been removed by the statements OF
NcssrS. Straus. Higgins, and Meredith.
Major Johnston then appeared before the
stockholders and accepted the office.
The stockholders adjourned 10 meet at 4s
?. II.
In the evening the resignation or Colonel
II. Coaltcr Cabcll rs 4 member OF the Board
oi DlrectorS-mad necessary by pressure
OF private busineSS-was presented and ac-
ccptcd. Il. +. Blanken>hip, Esq, was
chosen 10 ill the vacancy.
The J.mes River and kanawha Company
then adjourned sine de.
\ meeting OF the stockholders OF the
Buchanan and Clifton Forge Railroad Com
pany was subsequently held, with W. IL.
Haxall, Esq. in the chair.
Major J. W. Johnston formally signited
lis purpose TO accept the office OF preSl-
dent. TO which he had been chosen.
Judge Allen, OF Botetolrt, being dl-
rector in the canal company, rendered his
resignation as director in the railroad COM
pany. 1t was accepted, and Colonel Ed
ward Dillon, OF Botetourt, chosen to fill the
vacancy.
Adjourned sine die.