Savannah morning news. [volume] (Savannah) 1868-1887, 1881-03-03
COAST LINE RAILROAD.
Annual Meeting OF stockholders
The Condition Of the ROad-Re.
porGs-ElecsHOn of Directors

10 accordance with published call, the
annual meeting Of the stockholders of the
Coast Line Railroad was held yesterday
morning at IL O'Clock at the Metropolitan
Hall.
On motion Of Mr.. Alfred Haywood the
meeting was organized by calling to the
chair Mr.. 8. 7. Luce, and Mr.. Frank Lamar
was requested to act as Secretary.
The minutes of the adjourned annual
meeting were read aud approved.
Capt Henry Blum moved that a COM
mIttee OF three be appointed to ascertain
the stock represented, and to examine
proxies, which motion prevailed.
The Chair appointed as the committee
Capt. Henry Blum, Capt. III. ]. Doyle, and
John Nicolson, Esq.
After an examination the committee re-
ported there were one hundred and thirty
six shares represented, constituting more
than quorum. The meeting was then de-
clared ready for business, and the Presi-
dents report was announced In order, which
was read as follows:
PRESIDENTS REPORT.
To the Stockholders Of the Coast Line Railroad
Company:
The President and Directors of the COM
pany respectfully submit their report of the
affairs OF the company, for the year ending
the 18th ultimo.
The main features of the report will nee
essarilY be based on the statement of the
financial status Of the company as made by
committee of the board OF directors APP
pointed for that purpose, and herewith sub
mitted.
This report shows the present and near
future liabilities of the company, and so far
At q InIsA -
forth by the report last made to the stock
holders, that an explanation is necessary.
The statement of liabilities as made at the
meeting of the second mortgage bond
holders, and again at the meeting of stock
holders, was believed to be correct, except
that it did not include city taxes, coupons
and interest, due and accruing. The amount
at that time reported as the floating debt
of the company was SIS 1864 Is. OF this
amount there has been paid on the principal
| 3,514 08 and 1896 II in interest. Besides
this sum on old debts, there have been
| expended in repairs to roadbed, and on
cars, etc., &, $50 SO. The committee of the
| board of directors, In their report, foot up
the amount OF the floating debt at this time
at $40. 924 SO, being an excess over the sum
before reported of 50 $50 81. The items of
| Indebtedness reported in statement of the
committee Of directors, and not included In
the report before submitted, are as follows
Past due and maturing coupons 81
mortgage bonds ...................$4, 900 90
Past due coupons LIST mortgage bonds
not presented for payment . 200 90
| Accruing coupons LIST mortgage bonds
to February list ............:........ 729 II
Interest, city taxes, etc. .............. 1891 "a
s8,22O II
1t is proper to state for information that
in addition to the liabilities given by the
committee of directors, that there has been
certain claims lately made for right Of way
| yet unaojusted, the nature of which, or for
what amount the company will be liable,
| cannot at this time be given.
Below is statement of gross receipts for
| each of the four last fiscal years, ending