Bristol news. [volume] (Bristol, Va. & Tenn.) 1867-189?, 1877-05-22

meetings of Stockholders.
VIII. The permanent chairman.
Immediately on assuming the chair,
(lhe competency Of the meeting to
proceed to business being admitted, or
10y a call Of'the roll of stockholders
estahIished), shall appoint a business
committee, to consist Of five members
taken from the bOiy of the meeting,
to whom shall lie referred all reports,
c0mmul.i catiOus and resUl u I / q u :
which may he presented to The meet
ing, and whose duty il shall he to tx
anime and report upuu tn. same.
IN, The decision Of amy question
brought before the Stock hOidrrs at
their meetings shall he subjected to a
vote 10y shares, " hrneVrr pcrsrns Itp-
rr%enting one fifth of the stock repre-
sented III raid meeting shall 80 dc
mHnd.
X The rules of the House of Dele
gales of Virginia, as they obtained
fn. the session of 1876 aud ~. shall
govern the deliberations of the stock.
holders in all meetings. ~ far as the
same may not tie Incompatible with
the charter aud bylaws of the com
panY.
ri The administration Of the com
President and nine Directors, all OF
whom shall he elected 10y the Stock
holders aud hold their offices for three
yeas.
XII. The salary Of the President
shall be Fifteen hundred dollars per
aanHm. and the compensation of the
Directors at the rate of three dollars
per dav. when on duty.
XIII. The personal expenses of the
President and Directors incurr in
the performance of duty, shall DO
borne Ivy the company.
XIV. The President and Board of
Directors shall employ such officers,
agents and servants, and establish
such rules and regulations for the
government and control of the COM
pany, az may to them seem proper.
Nv. The President shall submit to
the annual meetings of the stoCkhold-
ers full report of the affairs of the
company, and of the operations Of the
road, for the fiscal year preceding.
XVI. The President shall cause 10
be provided common seal for the
company Of suitable device.
XVII. The President aud Board OF
Directors shall hold meetings at such
times and places as may to them seem
necessary =: and they are empO "ered
to do all things lawful, which, in their
opinion, are necessary or proper and
eXpedient 10 he done for the good, and
in the management of the company's
property and affairs =; and the Board
of Directors are authorized to fill any
vacancies that may occur in the Offices
of President or Director-the term of
office to expire within ten days after
the next annual meeting of the Stock
holders.
r. A. AYERS, Chm.
Mr.. Bailey moved to strike out If
teen bundled in the twelfth section
and insert in lieu thereof one thous.
aud, so as to make the salary OF the
President one thousand dollars. The
motion was subsequently modified so
as to insert twelve hundred, and was
rejected.
Mr.. u. L. Burson moved to strike
out three and insert one in the elev-
enth section, so rs to make the terms
OF the President and Directors one
year. The motion was rejected. and
the report of the committee was
adopted as a whole.
Mai. II. G. Wood offered the follow
ing, which was adopted
Resolved, That the salary Of the
President and Directors. Treasurer and
Secretary shall not commence until
the work of constructing the road
shall have been begun, and that, for
the first year from said date, the same
shall be payable in the stock or bonds
of the company, AS they may elect,
Mr.. Bailey moved the appointment
of a committee of five to report per-
manent officers for the company. The
motion was rejected
Mr.. j. NJ. Barker nominated, for
the office Of President Maj. ii. G.
Wood, OF Estillville. Mr.. Bu'son
asked that Mai. Wood be unanimously
elected, which was agreed 10.
Mr.. John Slack nominated, for Di-
rcctors from Goodson, John +. Ter