Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1880-01-07
Proceedings of the Annual
Meeting Of the Stockholders
of the shenandoah County
Bank.

~
Bank.
Pursuant 10 call of the President,
the Stockholders Of Shenandoah County
Bank convened at their Banking House
on the Ord day Of January at IL O'Clock
A. N. After the meeting was called tc
order Moses Walton Esq. President
read and submlttey his report, Of the
operations of the Bank since the last
annual meeting, after which he vacated
the chair, and
On motion, Of Gen. G. s. Meem, b.
P. Newman Esq. was declared PRESS
ldcnt Of the meeting.
On motion Of James II. Rodefer,
President Walton's report was adopt
ed.
On motion of Moses Walton the
Presiden. appointed Gen. G S. Neon,
p. w. Magruder and N. L. Walton; a
committee to ascertain if a quorum ci
the Stock was represented, and charged
these also with the duty of receiving
and counting the ballots.
After n brief abseuce said committee
returned, and reported 1893 shares rep~
resented. Whole number Of shares
1898 necessary to a quorum $50.
P. W. Magruder presented a 'caro
containing the names Of Al stockholders
printed on one side, with varions num-
bers Of votes on the opposite side, and
moved that the meeting adopt said
cards, in 5alloting for directors: The
plan suggested was for the meeting to
appoint one to examine the stock lis'
and issue the cards TO each stockholdel
corresponding with the number ofyotef
to which he was entitled, the vote Il
be indicated by a Y opposite the names
voted for.
Jacob OFT Esq, moved as an amend
ment that the name oft Stockholdel
voting should be written on said cards
A viva yoca vote being taken OF
the amendment, it was lost.
When Moses Walton offered the fol-
lowed as a substitute for Mr.. Magruder''
motion.
Rc,olred, That the meeting continue
to vote by the old method of ballots
with the names OF persons voting writ
ten on the back Of the same.
Gen. Meem offered an amendment tC
Mr. Wal.on's substitute, the following
Reselyed, That the Tellors be cnjoin
ed to maintain strict Secresy. as to the
manner in which any vote may be cast
Mr.. Walton accepted Tie amendment
and stock vote being taken on The
substitute, It was adopted ayes $780,
hayes 1924.
On motion of B. Schmitt resolved
that after tie vote for Directors shall
have been taken. and certified, that Tx
ballots shall be destroyed.
On motion The meeting proceeded tc
the election of nine Directors to serve
the ensuing year.
The Tcllers having received and
counted the ballots declared the fol-
lowing named gentleman elected, viz
Moses Walton, B. P. Newman, Geo,
A. Iupp, Gilbert S. Neon, II. c. Al
len. p. J. Fravel, William Donaldson,
3. Schmitt and P. W. Magruder.
On motion tho Directors were de-
clared unanimously elected.
On motion of J. P. Nelson, Resol'
we'd. chat the Tellers announce the
names of other persons voted Tor, for
Directors; who were not elected, and it
was done.
W. T. Williams read communlcs
ton from various Stockholders residing
in the city Of Baltimore, addressed TO
the Board Of Directors, directing their
attention 10 the question OF expenses,
and requesting them TO ascertain if It
be practicable to reduce the same, and
accomnanied il with the lOh owing resO.
luton.
ResOlrea, that the Directors. who
may be elected at this meeting are
hereby instructed TO reduce the salaries
Of the employees Of the Bank. so that
the maximum cost ofsaid salaries shall
not exceed al4O0, per annum.
After discussion by w. T. Williams,
Moses Walton, Gen1. Mcem and r.
NJ. Mag-uder.
Genl. Mcem offered the following as
a substitute.
Resided, that the Board Of Directors
be requested to reduce the salaries Of
the employees ofthc Bank if possible,
and also to reduce all other expenses to
the lowest possible rates.
On motion ofP. w. Magruder the
substitute was amended by the addition
of the following, after the words 'if
possible" so that they shall not exceed
the sum ofsl406.
w. 7. Williams moved, to strike out
the words eff possible" which motion
was defeated.
The vote being taken on tho substitute
as amended it was adoptsd.
On motion Resolved, that the pro-
ceedings of this meeting be published IN
the shenandoah Herald" lift can lie
done without cost TO the Bank.
On motion the meeting adjourned
B. p. NEWMAN. Prest.