Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1881-05-10
S. v. R. R. STOCKHOLDERS MEET
ING.

-
The regular annual meeting of the stock
holders of the Shenandoah Valley Railroad
Co. was held at Luray, Va, on Wednesday
last. Hon. a. r. Boteler was called to the
Chair, and Mr. Joseph II. Wright and
Messrs. Jordan of the Advance, and Broad>
dus of the Courier, appointed Secretaries.
The following resolution wac offered by
Col. R. W. Baylor aud adopted
Resolved, That a committee of five be an.
pointed as a financial committee to ~xanin
the books and accounts of the s ". Road,
and report the same to the next meeting of
the stockholders of this company.
The following committee was thereupou
appointed: D B. Lucas. chairman; Philip
Powers, W. H. Travers, a. Is. Davenport,
VIM. Mines, Jr.
The annual report of the President and
Directors was submitted and adopted, with
a statement by the Treasurer Of the financial
condition of the Company. The number OF
Directors having been increased from eleven
to thirteen, Frederick J. Kimball was unani>
mously chosen President of the Company,
and the following persons elected Directors
for the ensuing year:
on. Wa. Mines. Jr,, Page county,
Va, Hon. VIM. Fl. Travers, Hon. A. r.
Boteler and Col. H~B Davenport, Jefferson
county. WA. Col. U. L. Boyce and Jos.
T. Wright. Esq, Clarke county, Va, Hon.
John T Lowell, Warren county, Va. Clar,
ence Fl. Clarke. Banker, PHILADELPHIA. Geo
F. Tyler, President of Norfolk & Western
R. r. Co, PhiIadelpbia, Edward A. Rollins.
President of Centennial National Bank,
Philadelphia, Edward T Steel, Philadel.
phia, Charles Hacker. Philadelphia, G. L.
Baldwin, President Louisville and Nashville
r 1ilroad Company. N. Y.
The election of Directors was preceded nv
a controversy arising from a portion of the
proxies of Clarke county demanding tho
right to name one of the directors. which re-
suited in the withdrawal of three Of the
proxies. Messrs. Lewis. Rely and Sewers,
(P. Fl. Powers remsinine) with whom
Hon. D.. 3 Lucas aud Col. r. w. BAYLOR.
also withdrew.
Tho following ia the report of the Presi,
dent aud Directess:
No. Hluk ing TINS, orr
Annual Report, We take pleasure in corrratnIa.
ting the Stockholders of the Company upon the
complellch of their road from Hag eratown. Ma
14s miles. 'Sah'o OIL
The work has been completed in the most suh.
stantial and thorough manner, with steel rails,
stone ballast, IMPLY provided with passenger
and freight stations, water-tanks, turntables.
&c , and With an equipment and rolling stock
of the most modern and approved pattern.
At HsgerstowF. connections have been made
Pennsylvapia Railroad. and with the Western
Maryland Railroad. and at waynesboro' With
the chesapeake and Ohio Railroad.
yonr Company and these connecting roads. Nv
which a through line has been established be-
tween New York. Philadelphia and Raltimorc.on
the North, and all points reached by the CI,eaa-
This line was opened for business AnriI a2nd
and as IL affords to the Chesapeake and Ohis
ka1irnsd AND its important wesiern connexions
with the thrce important seaboard cities, it is
eenfdently anticipated that the through freight
and passenger business will yield a very censid-
cradle revenue to your C@mranv.
The local business ia being rapidly develoned
traversed by your road, is attracting tt g stien-
ton of Northern capital. and the dcposits Of
opened. AND shipments of The same have slraaSgg
commenced, and from the contracts that hnve
been entered into, it is believed that bu einess
from this source alone would have warranted
The construction of the road.
,Tanneries and saw mills are being erected. and
thu general activity aud spirit of entornrisa
that is being exhibited along the entire 1.-Two Of
road, and the fact that the tinancisl condition Of
the Company is such that thore is no fnafing
debt Whatever. and with money already en-
hand sufhclent to provide for the Interest on its
bonds payable July lat pext. encorrsRes tGe
manag"ment of the Corp panv to indulge in the
most sanerin" Exnectaticns as TO the 'uture.
Sho Stockholders at their SPECIAL meeting.
having .uthnrlz ID TO extension Of The road
South from Wsynesboro' to a connection with
which WAS rurcila srh BIZ natt,eS largely im+er'
ested in the q ena"d0ah Valley Railroad ON tie
IL : d "a ~ the NoTfoit a. and T WeGts nas R ss;% rs5"rgnn-
Eeys forAhe location of the sln,o have been ac-
a very favorable liao has been: located L
fiis line follows closely along tie western
base of the Blue Ridge in the immediate pr x
Iml'T- 10 and through vast deposits of iren orr
II follows tho Shemaudoah river to its .orrco
!herce asT"se the divide to O stream omptving
ington. at which reiut cor ~nectien is made win
tho. Richmond aud AIIeEhany Railroad. aud by
Lvnchburg rc"ion will he transported over the
Shenandoah Valley RaiIrosd TO tho ron ,rillss If
Pe>3svlvanla From Lexington, the line of tho
extr\+I0n wilLfollow the james river arounJ 10
ortiI and south branches to Buchanan, passing
T'ence is crosses another divide to Tinker
Creek, which Iatfer stream the line follows Nm
III IT. reAci,es the Nnrfo'k and. Western. Railroad
of the extension will he about e5 miles. and Tor
its entir" length rn"s T. rough q country rich in
agrIcuifnTal and mineral resourccE,well wooded
and w3tared. and through tie tinrst cattle rra-
Eng counties in tive State. The completion of
tLis extension will connect tie Norfolk and
Western Railroad bv an all rail line to thn
North and East. and enable vnur road r. add
SSH aE"ther to the very m.nv important con-
%nectIOnS it has already estab isled. The line
having II en- located. and most of tho right of
way secured. contracts have been entered info
win Responsible rarties for The construction of
the road. aud the wol k has already hre7 g: M
m"ncei. Steel rail7 mi fastc IN f have ben
purchased. and your Directors nntieirate that
the work of construction will be cHmnlotai
Eb"ut the close of tic present voar. II is esti-
mated thai the amUunt necessary to be expend-
cd for he construction and e1nin~ont If tnis
e<.asSl"h. nnd for additioonl CONTINENT npnn
line nlFcnh7 com o!"tcd will lie about So use. 600,
and to provide this amenn: a gnnc"al NOR rag.
has b.eH cX"cutHl to- the Fidelity Insurance
Trust snd Safe Deposit Company OF Phiiadel-
nh.a for Se5."o" osr mile 6 per cent. 40 year
bonds, extending over tho entire line of road.
OF this amount there will he reta ned in the