Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1881-05-07
Annual Meeting OF the stock
reisyer, Of She -. v. X. *. 90.


The above meeting took place on
Wednesday the 4th of May, at Luray,
Hon. \. t. Boteler in The Chair,
for the purpose OF dieting a Board OF
Directors FOR the ensuing year. On
motion it was decided to increase the
number Of Directors from eleven TO
thirteen. Mcssrs. H. B. Davenport,
John r. Lowell, Jos. II. Wright, Geo.
w. Eichtlberger, II. Il. Powers, John
il. Hittlc, were appointed a committee
ON Proxies.
The following gentlemen were elect
I'd -
President-F. J. Kimball. Directors
WIN. III. Travers, III. Is. Davenport,
a. x. Rotclcr of Jefferson; J. 7. Wright
and L. l.. Boyce of Clarke; }. T. Lowell
of Warren: VIM. Mines of Page; T..
III. Clark, Banker, Philadelphia; Geo.
TYLER, of Philadelphia, President OF the
Norfolk and Western Railroad L. T..
Steel OF Philadelphia; c. G. Baldwin OF
New York, President of the Louisville
and Nashville Railroad; Charles Hacker
Of philadelphia; +. y. Rollins OF Phila-
delphia, President Of the Northern Cen
trail National Bank. The Board will
meet at Philadelphia on Monday next
at which time Vice President ahd
Secretary will be elected
The following Report OF the President
and Boald Of Directors OF the ,. '. H.
Il. Co, to the stockholders was rtad:-
To Tur STocKucIrrEs.-In making this, our
Annual Report We take plea ure IN conEralu!a-
tirr the Stockholders Of The Company upon the
ccmp.ctinn Of th,ir Road from Hagerfto"n
Maryaut, 10 WayuCsboro' NiTS.uiA, a distance
OF IS miics.
The work has been completed in the most sub
.tAuti Il and thorough manner, With Steel Elis
SLunc b ilast amply provided with PasSeI ger
md Freight stations, Water Canb', Turn-Ilbes
&c, &C., and with an Equipment and Rolling
sslcck oi Tie most modern and approved pattern.
Al nlgeTstowr, councillors have been nede
with tie Cumberland Valley Branch OF the Penn
sllvaui. Railroad, and with TIE western Mary
l4ld RtiirUad, - at NoyGcsoor0' Win Inc
Chesapeake ana OHIO Railroad.
COutrac.s nave been entered into between your
Company auG these connecting Roads, 10y which
thruugn line has been established between New
York, rniadelphia and Baltimore, on the Norlf,
and all points reached by the Chesapeake al d
O.i0 Railroad on the South and Wcs'.
This Line was opened for business April @2dd,
md as II af ,rds to the Chesapeake and Ohio
Rlilruad and its Important western connections,
AN Independent Al Rail prorating connection
with the three Important Scaboard Cities, 1t Is
confidently anticipate d tina! the through Freight
and p ,sscngyr business, will yie'd very couSii-
cradle revenue to your Company.
The LOCAL business is b. iCg raFidlv developed.
The great Mineral wealth Of tue Country tray
creed by your R"aG is attracting the attention OF
Northern capital, aud he deposits OF i: on Gre,
and a hire Dglr OpCneF,
AID shipments OF the same have already Gem
merced, and from the contracts that have been
entered into il is bell Yad that business from
this source alOn', would have warranted the
constitution OF the Road.
Tapueries and mills are b ing erected ard
the general q, tyi,y and spirit of enterprise that
il heu q cXhibit,d along he entire line Of Road
and the ct that the financial condition OF the
Company i such that there is no Il a;iDg debt
whatever, and with money already on hand sut-
icieut TO provide for the interest en- its bones
payable July lst mex; encourages the manage
mont of the Company To indulge In the most san
guuc expectations Us to the future.
TIE Stockholders at their special meeting
having authorized the extension Of the Road
south from Wayne, bDro' 10 q connection with
the Atlantic, Mississippi and Ohio Rai!road,
which was purchased 10y parties largely II terested
in the SLeIaud Jah Valley Railroad on the 10th
the Norfolk and Western Railroad. Surveys tor
the location OF the SAME have been actively pres
ecuted for several months past, and very favor
mile line has been located.
This line follows closely along the Western
base of the Blue Ridge in the immediate proXim-
ity To aud through vast deposits OF iron ore. 1t
follows the Shenandoah River to its source,
thence crosses the divide to stream emptylng
into the North Branch of the James near LeXing-
tor at which point connection Is made with the
Richmond and Allegheny Railroad, and ~
which means the BsssCmer Ores ftOm the Lynch
burg region, will be transported over tie Shen-
andoah Valley Railroad, to the iron NILS 81
Pennsylvania. From Lexington the line OF the
Extension will follow the James River around
ia North and South Branches 10 Buchanan,
facing within short distance oil the Natural
ffrid .e. Thence ii crosses another Glvlde To
Tinker Creek, which latter stream, TIE line fo!-
l-vss until il reaches the Norfolk aud Western
Raj road AZ Big Lick or the Roanoke River. The
length Of the extension will be about 10 miles,
and for lis on tire ltn myth runs through country
rich in agricultural and mineral resources, well
wooded and walered, and through the finest cat
tie grazing counties in the Stat. The compile
ton OF this extension will connect the Norfolk
and Western Railroad hy an All Rail Inc TO the
North and East, and enable your Road To adu
slill another to tne very many important connec-
tiors IL has already established The line having
been located xnd-most of the Rlght-oi-Nay Sc
cuTei, contracts have been entered mo Win re-
spousiole parties for the construction OF the
Road and the work has already cen comnenc-
ed Steel Rails ard flsicnings have been pur-
chased, and yCur Directors anticipate that the
work of construction will re completed about
the close of the present year. 1t Is estimated
that the amount Necessary TO be cXpei ded for
the construction al equipment OF this extern
zion, and for additional Equipment upon the
line already completed, will Ee about s., 80 o'p,
and 10 provide tnis amount, General Mortgage
has been executed 10 the Fidelity Insurance
Trust and Safe Deposit Company of Philadelphia
Tor ZOO per nile o ser cent 40 year bonds,
extending over the entire line OF Road, OF this
amount there will be retained in the hands OF
the Trustee to retire Outstanding bonds upon
the Road already constructed of So 2OO2 eav-
ing 81, 3SS 0C0, This General Mortgage, with its
provisions was autLOIiz d ~ the Stockholders
of the Company at the special meeting called for
the purpose, he'd al Luray, April 5th, 1881.
Negotiations are now IN progress Tor The sale
OF such securities as your Company has at its dis
r0sa', TO provide the means Ut cessary 10 pay for
It's extension as a:uve mentioned,
Iu regard To the present financial condition o:
the Company, and the amount Of bonds and stock
Issued under its various Mortgages, a statement
of the Treasurer viii be found hereto appended.
All OF witch j. specially submitted.
BY order of the Board of Directors.
L. j. KlMBALL,
Luray, May I'll, 1881. P.esident
EsS' The SHENANDOAH VALLEY RAIL
RoAD-CoNrRACfs AWARDED FOR TIE
EXTENSION. --President Frederick j.
IL,