Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1880-02-14
the management of its business by the

COhlTiCtOTS III. lHdL COulu pe desired.
There is now left little or no obstacle 70
the speedy construction of your line.
Many legal difficulties have been dis
posed of, and large amount of right of
way paid for. And yet there remains TO
contract for, or condemn, according to
law, about sixty miles of your line.
Your Board have had, and now have,
agents ut work with great assidulty, TO
secure by contract this right OF way, ana
rerret TO inform you that from the ul-
I reasonably high demands of the landown-
/ ers. il will be compelled, ia many cases,
! to resort to the slow process of law to
/ secure the same.
As il now appears that portion of your
road is i'm operation and the remainder
will be completed in 4 very short time,
your Board asks of you, ut this meeting,
| such legislation and such powers as will
| enable them TO reduce the interest on the
/ bonded debts of the Company, ifpossible,
| by contract, and if in their opinion it is
! advantageous so to do, to create Il sinking
fund t or the purpose of purchasing the
bonds themselves. Your Board is of the
belicfthat il they have power, they may
be enabled to reduce the rate of interest
on the present issue of bonds, if they will
agree that II sinking fund of no more than
\
as 4 fund to be invested in the bonds. In
carrying this scheme into effect it may
be advisable for this Company to extend
| the time for the maturity of the bonds.
Your Board also suggests, Is it Is pos
sible that they may desire to build
! branches or extensions to your road to
points not covered by its present con-
tracts or mortgages, that you empower
/ your Board with the right to make con-
/ tracts for such construction, and to in
| clude in any new mortgages said portions
| so constructed in such amount and with
! such conditions as they may deem best
! for the interest of the Company.
Your Board, recognising the necessity
| of telegraph line in the operation OF
| your road, has entered into what they
! considers favorable contract with the
/ Western Union Telegraph Company, by
! which your road will have the free use of
! the line along the road, together with the
use, to a limited extent, of other lines
free. The Railroad Company furnishing
! poles, and the Telegraph Company fur
! uishing instruments batteries and wire,
and maintaining the line in all manner
! whatsoever, without cost To your Com
| many. save the expense of carrying mate
rails and agent Of said company free.
] In accordance with a resolution ofyOur
body. passed at your last annual meeting,
rrouirinr YOUR Board TO proceed and put
10 sale all stock held by stockholders who
have failed to meet the assessments on
their subscriptions your Board did eX-
/ pose said stock to public auction, and the
| same was sold according to law.
WM. MINES, JR.,
! President.
Since the above was in type we have
received the following minutes of the
meeting, from Major Hunter, Assistant
Secretary, for which the Major has our
sincere thanks
The stockholders of the $. V. railroad
company met ut the Taylor Hotel on We'd
ucsday last.
The gentlemen present, representing
! stock i'm person and by proxy were: Wan.
| Mines. Jr., President; L. l.. Boycc, Vice
| President. From Jefferson county: Col.
| II. 3. Davenport, Col. \. Il. Botcler, Hon
/ W. II. TraverS, Col. II. ". Baylor, David
| Billmycr. John II. little, Geo. W. Eli
| chelbcrger, and John III. Stridcr. From
| Clarke: W. d. Smith. Esq, Maj. u. ii.
/ Powers. Mai. \. W. Mcdonald, Maj. H..
! l.. ID. Lewis, Col. Douglas Bruce, Capt.
/ John K. Num-. From Rockingham: ii.
! Il. Hansbergcr: and Mr.. i. j. kimball,
/ the representative of the ;. '. COnstruc-
/ ton Company. and Mr.. Joseph Doran, of
! Philadelphia, and Joseph I. Wright, Sec
| rctary.
Col. y. r. Botclcr was elected Chair
! man.
He congratulated the meeting upon the
| assured success of the road, and its bright
! prospects,.
A committee of five, consisting of Col.
! II. Il. Davenport, Col. II. w. Baylor, W.
/ u. smith, John Little, 7. u. Powers,
! was anpaintcd to examine proxies.
On motion of President Mines, Major
| r. W. Hunter was chosen Assistant Sec
| lctary.
The report of the Committee OIL ProX-
/ les showed that large majority of the
! stock was represented.
Mai. II. J.. ID. Lewis asked whether
vote, based upon stock which had not
/ been paid up would be received:
1t was explained by President Mines
| and President Boyce that suci. had
! been the custom for the last ten years;
that voting was Il matter of law, and as
, long as stockholders were recognized as
such, they hada right to vote.
Col. Baylor, in the discussion OF TINS
point. referred 10 the recent sale of stock,
! which brought Col. Boyce to M ieet,W
/ stated that the stock had been bought by
/ himsclfaS the agent of the :. V. railroad
! company. lie was opposed to ''MOonshlnc
/ subscribers"
Mai. \. w. Mcdonald denied the right
| of tine Company TO sell the stock, and at
| tackled the settlement with the {. !. Co.
| Here the point was raised that there
WAS nothing before the meeting, which
was decided 10 he well taken.
Col. Il. W. Baylor offered 4 report
which had been made to the COuntyCCurt
OF Jefferson in relation to the transactions
of the Company. and which the Court
had ordered to be laid before the stock
holders meeting.
The report was signed by john II. Stri-
der, Thomas Lock, W. II. /. Lewis, VI.
W. Burr. 1t advised that further steps be
taken To- investigate the varionS contracts
of the Company.
Mr.. Strider was present, bat not be
ING u stakeholder, was granted the priv
ilegp, by vote OF the meeting, TO explain
the action Of the committee. Upon sew
cral OF the points raised by the report
there was an animated cOlloquy between
Mr.. Slrider anG Col. Boyce, indicating
a wide divergence OF views.
The matter was disposed of by mo-
ton of Col. Boyce, that the report be
respectfully returned to the County
Court of Jefferson, with the recommen-
dation that it make such investigation
and take such action as it may deem
proper.
lion. VIM. II. Travers offered long
series of resolutions providing for the
cancellation OF all prior mortgages upon