Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1880-02-24
SHENANDOAH VALLEY RAIL
$50 ROAD. 49,. ..55,.
tFrom the winehe.ter Times. !

tFrom the Winchester Tin1es.l
The stockholders of the S. V. r. Il. Co.
met at the Taylor Hotel on Wednesday last
Tho gentlemen present. representing stock
in person aud by proxy were: VIM. Mines,
Jr, President, U. l.. Boycc, V ice President.
From Jefferson county: Col. Fl. b. Daven>
port, Col A r Boteler, Hon. ". n. Trav-
ere, Col Il W. Baylor, J. n. Bilmyre, Jno
Fl. Zittlc, Geo. W. Eichelberger snd John
n. Strider. From Clarke: w. D. Smith,
Esq, Major =. Fl. Powers, Maj. A. W. Nc
Donald, Maj. n. L. D. Lewis, Col. Douglas
Bruce, Capt. John r. Mum. From Rock
ingham: Fl b, ilansbereer, Mr.. T. J. Kim>
ball, the representative of tho Shenandoah
Valley Construction Company, and Mr. Jos.
R. DOran, of Philndelphia, aud Joseph T.
Wright, Secretary:
Col A. r Botelcr was elected Chairman.
lie congratulated the meeting upon the
assured success of the road and its bright
prospects.
committee of five, consisting OF Col. II.
b. Davenport. Col. r w. Baylor. Wm D.
Smith, John Fl. Zttle and p. II. Powers,
were appointed to examine proxies
On motion of President Mines, Major r
w. iunter was chosen assistant Secretary.
The report of the Committee on Proxies
represented
Maj H i D Lewis asked whether votes
based upon stock which had not been r,id
up would DO received?
II was explained by President Mines and
Vice President Royce that such had been tho
custom for the last ten years; that voting
was matter of law, and as long as stock
holders were recognized as such, thcy had
the right to vote
Col Baylor, in the discussion of this point.
referred to the recent sale of stock. which
brought Col. Boyce to his feet. who stated
that the stock had been bought by himself as
the agent of the S. V. r.. R. Co He was
opposed to ''Monnshne subscribers"
Maj. a. W. Mcdonald denied the right of
tho Company to sell the stock, and attacked
the settlement with the C. L Company.
Here the point was raised that there was
nothing before the meeting, which was deci>
ded to be we'll taken.
Secretary Wright then read the report of
President Mines
To THE STOCKHOLDERS Of TIE suESASpo.u
VALLEY RAILROAD COMPANY:
The resident and Boar of Directors deem it
proper to call the stockholders together IN spe-
cIal meeting at this time, to inform them Of the
proaress made i'll the construction of their road
aud OF the contracts made by the Company for
the completion of the. road, and TO ask for Sddi-
yisable.
At the last meeting of your body but little
progress had been made in the construction of
Co.. owing 10 difficulties we'll known to ali Of
you IN consequence of which Satterlee & Co
the Shenandoah Valley Construction Componv.
limited, organized under the laws of Pennsyl-
After careful examination Of the financial
ability of said Company. your Board deemed il
nest I to consent to the nssignment, and release
Jonn SafterIce 6> Co from all respop sibIlity
arising from said contract and cancelled their
bond OF indemnity, and released tho securities
Shenandoah Valley Corstruction Companv.
limited had entered into like bond. /. in the satc
amount and CONDITION with und"nbted security.
Your Board, finding in its contract with John
sstterlce & Co. that it bad failed in said con.
tract TO receive sufficient mean4 to meet re.
Quirsments of your Company other than tho
paynent of contractors. was compelled to ask
struction Company, limited" n modifnef;on nf
the S>tterlce contract, SO RS to provide the
the current zpemseS Of your Compaoy 9nr;nr
the peEdaucy OF tho contract
,, 10 meet this requirement.. the contract Las
been SO nodIhed as 10 enable the COMPANY to
provide means for the payment of its right of
way. for WHICH at this tina there is pressing
eTonm,i "a ore contract"fs sre clamorous for
Under these modified and other eon4racta
early completion of its road Iron and ~ isl a."
rails rails for the entire line have been secnred. The
ing completion. The bridge at Shcpherdstown
across tie Potomac has been sub-let to parties
VI s"Ch nnAnciai aOtIItv, and under such painS
ana pcnnI ties 10 case of failure to time as to
make it al lmost an absolute certainty Of connie.
tlnn by the irst of July next.
Inc line from HagerstOwn, sixteen miles
long: has been sub-Iet to parties of like resnr n
SIolItS ana under like penalties. so as to p1ye
assurance t1at by next fall we will have a CON
1Inuous ra1l from the Shenandoah Iron Works,
va. to HaeerStown. Md, and tile entire road
completed during the present year, provided
the LeRIslature of Maryland will give us such
ieglsl latIon as Is deemed advisable in mOrrpa e.
ing the road In that States and provided rou
give tho Beard the right to create q new mort
gage OF $4,000 Ger mile of single track and
strueted and to be constructed. in substitution
of the present first MORTGAGE. The present first
mortgage does not include the extension into
wary Iand, and docs not cover any road In eI-
cess OF one hundred ard fifty miles in length.
Since the last meeting of this body. your
President and Board of Directors. after
amendment of its contract with the shenondoah
Valley ConstrTctjon Com pany, limited, has
tered into contracts of such n nature as to
able your Company to purchase all necessary
your road, without increasing the mort gage OBJ
LEGATIONS Of your Company, and such means
ND der the original contract were to be expended
in the purchase of said rolling stock. is to be
expended in the more thorough equipment of
the line. and your President and Board con-
dard of depote, tuTnta bles, wafer stations sig
nal stations aud turnouts already constructed
and to be constructed. in consequences of the
amendment of the contract above mentioned.
Yonr road under said contract is now in suc-
ceSsful operation for fortT-tw wo miles from Shen
Board is pleased to inform You that, aIEhoupH
1t has been in operation less than a month s1f-
Geient has been shown to give you o ressonable