Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1882-07-20

up.
Mr.. Kea ne houths i vas . issal
meetiaa But init b !. CTS
ton, aEd 8 %. grave 6he; an e ]
president were elected serious embar.
easements might arise. The canal wa.
il financial difficulties. It's obliea.
tons were falling due and would have
= be renewed ifnot paid, and The
banks might refuse 10 renew the notes
e there was qnestisn Is e who w.
president. Dir. Davis read : resolu.
ton. adopted in 1928. that general
meetings 81 stockholders. IN addition
to those prescribed by law, might b
called hF stockholders repre- eating
$3.50, 600 in stock ON thirty days no.
kice.
Governor Hamilton said lie thouahi
this . legal meeting, and ifaprssi.
dent were elected nov he would hold
Office, and the only question Of con.
test would then Be Between the new
and the old presidents. III . presi.
dent we're elected to-day, that would
Be conclusive on the present incum.
bent a. 10 his successor. The onIy
question was whether they should
end this trouble and do what thss
could for the canal. He had crsal
faith IL the work. 1t was 4 greai
work and would continue TO Be. II
had 8 century Of business before Il
He trusted that all would Cooperate
in securing it q business management
that would assure its success.
Mr.. Morgan said the canals great.
est extremity would be the capital.
lists greatest opportunity. They had
better conform to the requirements o.
law and not take any risks.
Mr.. Heating argued further in sup
port Of postponement, and said that
he was violating no confidence in saw.
ing that before he nominated Mr..
Farnandis he had conversation with
him, from which he inferred that Mr..
Farnandis would not decline If cleo
ted.
Mr.. Compton concurrcd with the
Governor as to the legality Of the
meeting and that an election now
would be legal, but be could not az.
ford at this time to vote ON his own
opinion. Even granting that a pres
idenb could be elected, they had the
fact promulgated by the States law
officer that this was not legal meet
ing, and no one would like to have
such q doubt cast on the proceedings.
II was questionable whether che bank
would discount the canals notes in
the face Of this opinion, ifthe law Of
icer Of the banks said there was q
doubt rs TO the legality Of the cleo.
tioii Of the canals president.
Governor Hamilton. would not
hesitate il The canal was worth any
thing. The Governor, in order to
make the issue, moved to 60 into an
election for president, and Mr.. Nor
gan offered the following substitute :
'sWhereas the question having arisen
as to legality Of the present meeting
Of the stockholders Of the Chesapeake
and Ohio Canal Company an tlleir
right to elect q president bee s Of
an opinion Of the Attorney leraI
Of the State presented to this eet-
ing: Therefore be it
"ResoLUed, That the election of pres
ident ofthe Chesapeake and Ohio Canal
company be postponed until the next
meeting of the stockholders; the time
for holding the same shall be in ac-
Cordance with the law and at eariiest
practicable day.
The substitute was adopted, Gov
ernor Hamilton, as q minority of the
board Of public works, alone voting
no: The meeting then adjourned. :
Mr.. German. as president Of the
canal, and the directors, will have 10
give thirty days notice of the meet
ing, in accordance with the bylaws
and charter Of the canal company.
A letter from Mr.. German in re-
gard to the legal difficulties surround
ing the meeting was received By Gov.
Hamilton recently, but was not read.
It is dated Washington, July /, 1882,
and reads as follows:
''Hon William I. Hamilton, Gov
ernor, &c. Sir: ] am informed BY
Mr.. B. Fawcett, the secretary Of the
stockholders 81 the Chesam AXE and
Ohio Canal Company at their last
meeting, that the Hon. Henry d. Far
nandis, who was at that meeting cleo
ted president Of the Chesapeake and
Ohio Canal Company, and whose term
Of Office was to begin on the first day
of July, 1882, has declined to accept
the position. am further informed
by Mr.. Fawcett as such secretary that
the said meeting Of the stockholders
was adjourned subject to the call Of
its president. ! would respectful
II call your attention to the 9Th
section of the charter of the com
pany-Laws Of Maryland, 1924, chap
ter 79-which provides for the ap-
pointment Of a general meeting Of the
stockholders upon any emergency -
Ii in your judgment the action Of the
president or . majority OF the direc-
tors Of the company may be necessary
10 reeonvene the stockholders, notify
ne that or q majority Of the direc-
tors may act at once. Your prompt re-
ply Is requested, as ] desire my sue
cessor 10 be elected and TO qualify at
the earliestpOssibIe day. Respectfully
yours.
A. P. GoRmAN,
''Prest. Chesapeake and Ohio Canal
Co"
Secretary Fawceft, Of the Chesa-
peake and Ohio Canal. has prepared
4 blank notice. which he viii take to
Senator German 70 have filled ont.