Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1881-05-11
HpPrTTsBuRa SOUTHERN.
Articles Of Consolidation Of the Two
Roads.

Articles Of Consolidation OF the Two
Roads.
The agreement OF consolidation OF the
Pittsburg Southern Railway Company
Of Pennsylvania, and the same company
Of West Virginia, were made public
yesterday, having been admitted to
record by Secretary Stalnaker, on May
6. The preamble sets forth that the
Directors Of the companies, after mature
deliberation have determined that the
interests Of the said companies, their
stockholders and creditors and the
public interests and convenience will
be greatly promoted by the union OF
the two roads into one and the consoli.
dation OF two companies into one, which
right is granted by the laws of both
Pennsylvania and West Virginia.
The agreement is contained in four
teen articles, much space being taken
mp with the customary legal verbisse,
but setting forth the following points:
|. The name Of the consolidated com
psny shall be the "Pittsburg Southern
Railroad Company"
9 There shall be seven directors,
Thich number may be increased to
thirteen or reduced to five at the option
of the stockholders.
8. The capital stock shall be 81 800,
000, divided into $4,000 shares OF 500
each, CT which 1000 shares. the value OF
the present company, are declared to be
| full paid, and the remaining 700 shares
to be disposed OF by the directors accord.
ing.to law.
4. This article entities stockholders in
either the West Virginia or Pennsylva-
MIA branch to exchange their stock for
the consolidated stock, share for share.
). Provides for the issue without de-
lay OF certificates OF stock to the amount
paid up.
6. This article provides for meeting
of the stockholders TO adopt the agree
ment. 1t was held at Pittsburgh on
May I'd, and the agreement unanimously
adopted.
rs. These articles provide for the
transfer to the new company OF the
property OF the two old ones, with rights
unimp,ired. They also provide for the
manner OF voting stock and allow
proxies.
.. Provides for the transfer to the
office OF the new company all books, pa.
| pers, records, documents. etc, from the
office Of the old companies.
10. The officers shall consist OF a
Presidert, First and Second Vice Presi.
dent. General Superintendent, General
Solicitor, Secretary, Treasurer ard such
other officers as the Directors may from
time to time appoint
IL. The first President shall be James
H. Hopkins, OF ri tsbnrgh; Vice Prcsi-
dent, Charles W. Mackey, OF Franklin
Secretary, James W. Rowland, of En-
linton; Treasurer, William NJ. Riddle,
OF Pittsburgh.
H. These officers shall hold their
offices until May =, 1889, such time be-
ing the legal date for the election OF
railroad officers.
Is The first Board OF Directors shall
consist OF James II Hopkins, Francis
Rohm and William \. Riddle, of Pitts,
burgh; Chas. W. Mackey, Franklin
James w. Rowland, Emlinton, and
William Il Bergholz and Henry Z.
Conveys, Of New York City.
II. The concluding article sets forth
that the line OF the road shall be con.
pleted as soon and as rapidly rs prac'
| ticable.
Appended to the agreement, are the
certificates OF the Secretaries Of the two
old companies, setting forth that al
meetings OF the stockholders, maiorIties
of each voted in favor OF the consolida
4 ,ip.,