The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1882-01-19

The annual meeting OF the stockholders
Of the Richmond and Danvillc railroad was
held on the 14th day OF last December, but
a quorum not being present the meeting
adjourned. after reading the report OF the
president. until yesterday at II O'Clock NJ,
when meeting was held in the office Of
the company, and quorum was found to
be present.
Among those who attended the meeting
were MessrS. John and Daniel Stewart,
Major r. V. Gaines, II. Y. McAdden, Gen
eral Il. VI. Logan, John Z. Branch, William
p. Clyde. II. T. HUBBARD, 7. ID. Neal, Geo.
A. Cunningham, j. III. DOOlcy, Judge +.
y. Watkins, and Gus. Millhiser.
The meeting was called to order by Judge
y. f. Watkins chairman, who explained it,
necessity and character, and requested the
clerk to read the proceedings OF the De
cember meeting, which was done.
The Chair appointed Messrs. DOolcy,
Games, and Gillian committee to eN-
anime proxies and ascertain il quorum
was present.
The committee reported 24,373 shares
represented, either by proxy or in person,
and this being a majority OF all the stock
of the company quorum was announced
TO be present.
The Chair asked what action should be
taken with regard to the report Of the pre-
sident, which had been read ut the Deem
Der meeting.
Mr.. Hubard moved that the Chair ap-
point a committee OF five to consider and
report upon II.
The Chair appointed MeSsrS. HUBBARD.
Stewart. Millhiser. McAdden, and Gillian
g1
that the report be approved and received.
The report was adopted.
Colonel Buiord, president OF the COM
panv. stated that the Board OF Directors
had successfully accomplished the task OF
securing the control. privileges, &c, OF the
Virginia Midland railroad. and in this con-
nection submitted the following preamble
and resolution. which was adopted:
Whereas at a meeting OF the Board of
Directors OF the Richmond and West Point
Terminal Railway and Warehouse Compa-
nv held on the 2Jth day OF December, 1881.
il was resolved to increase the capital stock
OF the said company from the sum OF three
millions to five millions dollars, and to give
to the theu existing stockholders OF the
said company the privilege OF subscribing
at par for the new stock in the proportion
OF two thirds OF a share OF the new stock 10
one share OF the old stock, and it is very
desirable that this company, which has al
ways held majority Of the stock OF the
said Richmond and West Point Terminal
Railway and Warehouse Company, should
accept the said privilege, both because OF
the rreat intrinsic value OF the said stock
and because il is necessary to the interests
of this company that it should continue to
hold a majority Of the stock OF the said Ter
minal Company: now, therefore, be it
RcsOlred, First, That the president OF
this company is authorized to subscribe, on
behalf OF this company, for 10000 shares Of
the new stock OF the Richmond and West
Point Terminal Railway and Warehouse
Company.
Second. That in order topay for the said
stock. and for the purpose OF retiring ana
eytinguishing the floating debt Of this COM
many. the president and Board OF Direct
ors are hereby authorized to issue deben-
fure bonds TO the amount OF four million
dollars, payable forty-fye years aiter
date. bearing interest at the rate OF SIX
per centum per annum, PAYABLE seml-annu-
ally out OF the net earnings of the COM
many. The said bonds shall be OF such
iolm aud contain such provisions as may
he approvcd by the Board OF Directors,
and shall be secured by a deed OF trust or
MORTGAGE conveying the entire property,
franchises. tolls, and revenues OF the Rich
mond and Danyille Railroad Company Tor
that purpose.
Third. The privilege OF purchasing the
said bonds ot fOrtv-tye cents on the dollar
sbull be extended to the stockholders Of this
comnany who shall be recorded on the
hooks Of the company rs owners OF stock
ON tbe 10th day Of February, 1882; that
is to say, every person VINO snail be the
owner Of ten shares OF the STOCK OF thls
company on the 10th day OF February,
1882, shall be entitled to purchase thou
sand-d0llar debcnturc Bona at the price OF
$3.50. The owners aS ol tIat diie OF
smaller amount Of stock IMAM ten shares
may purchase at the same price certificate
stating on t.. face that the holder Thereon
is entitled TO q part OF tnousahd-dolET
bond bearing such proportion 10 the sum
of one thousand dollars as the par value OF
his stock bears 10 the sum on Sl,OOo. The
said certificates shall be funded, when pre-
senfed in sums Of 900, IN bonds OF that
amount. The said certificates shall not
hear interest. nor shall any he paid thereon
cvcert from the time when they are funded.
Wben funded the bonds issued in lieu
thereof shall have attached The current
coupon, but no coupon lor arrearages OF
interest. - ;,
Fourib. The books OF the company shall
be closed at A =. NJ. on the lUth day OF
February, 1882, and shall remain closed
until 10 4. NJ. ON the lGth DAY OF Febru-
airy, 1882. ,.au ho ~,