Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1880-11-12
stoekholders' Couvention.

L II oiio"tdS 10 Suo tttt IcE pECCetUluSs
of the E r., v. & g. r. R. Stock hold
ers, Wednesday: yfrsr sy..s.,.. ~.
/ a Col. Cole preset I'D II preamble aud
resolutions which had been adopted
| by the board of diree )rs, proposio z
that where as ~the Kaox VILE auu O liO
railroad Company, Of which Col. Nc
Ghee is president, Is unable, OF ltseIf,
| TO furnish the Il necessary means toCom.
pIt to their line from CareyvIlle tD the
Kentucky line, where it lie proposed tt
meet tae louisville and Nashville
| road in direct COZ neetlGn fr fm
Knoxville to Louisville, KY, tue E.
IT., V. & G. company purchase suft1 :
cent of the stock of the K. q o. road
and render every ASSN ttuce p. ssibie
towards the completion of that lInB.
These resolutions were adopted by the
meeting KS Ha ee1 .ft
The report of the advisory commit
tee of the board of directors as 10 the
purchase of the Selma. Rome and Dat
ton and Georgia Southern roads was
read. They report tnat they were uI-
able to make the purchases on the
terms authorized by the called meeting
of the stock holders in Oct Dber last. :.
The report was adOlt I'd and The power
thus conferred on the board Of direc,
tors was, on motion, rescinded.
| A resolution was alao ad opted MAX
! ing and confirming the sale of all the
interest the E. r., Y. & q. railroad
| company has insthe Georgia Southern
railroad 10 r. T. Wilson Sc Co..
By resolution and motion the sale OF
the Georgia Southern road to the f..
| t., V. & q. railroad was then effected
for tue sum of $367, 36S.S0. The E. IT,,
V. q u. road is TO acquire INN medlate
possession and control of the came, to
assume all the Indebtedness, etc.
Maj r. T. Wilson stated tJ the
stock holders that at q judici al sale in
Selma, Alabama, some time since, be
had purchased the Selma, Rome &
sell the road with all its accou rem ent :,
ete., to the E T., V &. @. road for the
sum of 81. $50 600, with interest at 6 PEI
cent, etc.
On motion, the offer was accepted
and the purchase made.
In order to provide the ways and
means for the above purchases and
other outlays, a resolution was adopt
ed by the stockholders authorizing
the board of directors to issue ten mil
lions OF 5 per cent. bonds, payable in
fifty years in gold coin, W.T. interes
! payable semi-gnnually, to be secured
by mortgage on all the property o1
the various lines owned and controlled
by this company.
The resolution provides that after
: the Issuance of these bonds, four NIL
hons shall be set aside for le purpose
of taking up and redf emi0g all tue
Il present mortgage Indebtedness OF t1e
e. T., v. & G.. road, which bears pei
cent. interest, thus making large
saving by substituting the per cent
T bonds. 3-~ta- .. l1 --'
Further, that the amount OF So $50 :,
600 be paid t) Mi Wilson in paym
for the Selma, Rome and Da ton road
/ A resolution was also adopted, t
Z the effect that toe Recommendation
about the extension of the Knoxville
& Ohio line from Careyville t) thi
Kentucky line meets the hearty ap
proval of the stockholders. and the,
authorize the ard Of directors 20 pro-
vide the ways aud meanss hefefor.
Maj. Wilson stated tnat he and
Messrs. Adrian Iselin aud W. L. Wal
ters, to avoid any technicatity TIA
: might arise on account of their con
nectlon with the Selma, Rome 81 Dal
/
: they had deemed it proper, after taklD
, legal advice, not t. become candidate
, for reelection as directors in this road
This action, he tad, was not Ike
!, 4. on account of any trouble or misuD
derstandlng, but merely to avoid an.
possible trouble v hich might arise il
: the future. -
) On motion of Col Cole, recess wa
, taken till o'clock to allow the stock
holders an opportunity t) cast thei
) ballots. .g-
3 AT THE AFTERNOON SESSION
: The result of the election was an
nounced, aud the following constitut
the new board of direct Irs, each on
!. having received 16,0763 votes: Jos. T
Anderson, Bristol; L. Il Barrett, Au
gusta, Gs.; e w. Cole, Tennessee,
! Henry B. Davis, Cleveland; r. {
: Jackson, Joseph JsquesI Knoxville
W., G. Kyle. eWhitesburg; c. M. Nj
= Ghee, Knoxville; B. F. -Newcome
Baltimore; jag. r. Ogden, Knoxville
r. H. Richards, Atiants; o. II. ]
. Rogan, Knoxville; James
q Roosevelt, New York; E. J. Sanfor'
: Knoxville; H. Walters, Baltimor
i Gen. Austetl, of Atlanta, offered
resolution returning the thanks of th
! stock kholders to M j. r.. t. wilson an
> G. M. McGhee, fer taeir very able an
p efficient management of the lat 4rest
: of the road. ,.-.
Msj. Wilson and Col. McGhee eac
returned thanks for t1e kindly e.
'' pressiOns. .-s -.-sz-
Col. Cole read letter from DR.. v
:. r. Sevier, of Jonesboro. who has bee
q connected with the road continuousl
r. since its organization, declining a re
election as director on the ground th,
r. he deemed himself Ineligible, in a
q much as he represented WashingtO
a county's stock, and that stock has bee
sold.
Msior Wilson moved, and it W,
;. adopted, that when this meeting &C
Il journs il he to meet again on the ct
of DecemLer next, to take furth'
steps towards the construction of .k
: K. and o. road from Careyville to t !
|. Kentucky line.
Accordingly there being no furthe
g business, the meeting adjourned.
< THE BOARD OF DIRECTORS
o met Immediately after the adjourn
naeut and elected Col. e. w. Cole pre-
e ident, Col. G.. NJ. McGhee vice pres
dent and Jas. Ct. Mitchell sece tai
and treasurer. The fultaer manag
i mep t of the road is continued witho,
any change, and is follows: O. 81.
y Rogan, auditor and paymaster; job
e f. O'Brien, superintendent and chi
Hovcia r>ooctpr 0f tran