Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1878-10-22


MEETING OF THE VALLEY STOCKHOLDERS
OF THE VALLEY NEUTRALITY-SUSPICIOUS.
ADOPTED LOOKING TO AN EARLY COMPILE
TON OF THE RoAD.-In accordance with no.
tice previously published, there was meeting
of the Stockholders of the Valley Railroad al
Lexington on last Tuesday, but as as there was
no representation of the stock held by Balti-
more city and the B. & o. Railroad Co., the
meeting was changed into a conference of the
Valley Stockholders, and the following resolu.
lions were adopted:
First, that the president of the road shall bt
acitizen of Virginia and reside therein, and
Shall not be an agent or officer OF any Other
corporation, and his salary shall be 81 $40 unit
the work of constructing the road shall be
resumed; second, that the board of directors
shall consist of seven, one from each of the
corporations who are subscribers to the stock,
but the five members representing the Valley
corporation shall be citizens OF Virginia; third,
the office of the attorney for the company shall
be abolished fourth, the principal Office of the
company shall continue in Staunton. The fifth
provides for the appointment of directors to fill
vacancies.
The conference also adopted the following
preamble and resolutions
"Whereas the counties and towns along the
line Of the Valley railroad DAD having made re,
Company to have the suspended work from
Staunton to Salem resumed and completed at
an early day, so that the subscriptions from
said counties might be made available and they
receive the benefits of completed road, ac-
cording to the promise of the Baltimore & Ohio
Company having failed to comply with the
promised conditions OF said subscriptions;
therefore be it
RESOLVED, That the Baltimore Ohio Railroad
Company, at the annual meeting of the Valley
Railroad Company, to be held in the city of
Staunton in November, be most earnestly re-
quested to give satisfactory guarantee that that
the said work shall be resumed on or before
the LIST day April. 1879. and pressed to early
Resolued. That the Baltimore Ohio Railroad
the above resolutions, the great and vital in
terest of said counties demand that some
prompt action shall be taken to invite other
corporations or individuals to submit PROPOSE.
tions for the completion and running Of the
road.
Resolved, That committee of five be ap.
pointed by the chairman to take all proper &C
ffoD to obtain from the Shenandoah Valley
Railroad Company, or other incorporated COM
pany, or from any unincorporated association
or private persons, propositions for the con.
Structfon of the road and for its equipment
and also for the lease and running of the whole
road, or for the transfer of the road or part o.
it ON the condition OF immediate and speedy
construction of the rood.
RESOLVED. That. in failing OF success in secur.
ing the resumption of the work and compile.
ton of the road on absolute, satisfactory guar
antee therefor at the annual meeting in No
vember, we will take immediate steps for the
repeal of the charter by the General Assembly
or its judicial forfeiture by the State authori
ties.
The preamble and resolutions were adopted
by q unanimous vote, except that the Staun
ton proxies dissented from the proposition t.
amend the bylaws, because they thought i
out of the province of the meeting.
Stanton was represented by Messrs. R. w
Burke, Jno. B. Evans, and I. Witt.
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