Savannah morning news. [volume] (Savannah) 1868-1887, 1884-03-06

The Annual Meeting OF stockholders
Consolidation of Leased Lines.

The Annual Meeting OF Stockholders-
Consolidation of Leased Lines.
The annual conventions of the stock
holders of the Savannah, Florida and
Western Railway Company and of the
Waycross and Florida Railroad Company
were held in this city yesterday. Col. j.
II. Estill was Chairman of both of the
meetings of the stockholders, and W. p.
Hardee. Esq, Secretary. The directors
Of last year for each of the companies
were reelected For the Savannah,
Florida and Western Railway Company
they are Henry b. Plant, Morris h. Jesup,
Henry Sanford and NJ. J. OBrien,
OF New York: J. II. Estill, II. ;.
Haines and W. :. Chisholm, OF savannah.
For the WaycrOss and Florida k9llroau
Company they are II. b. Plant Geo. IL
T!lley, Of New York ii. ;; names NJ =;
Chisholm. W. p. Hardee, }. ii. Estlll, OF
Savannah. and DR.. W. 3. Folks, of W ay-
cross.
Al the meeting Of the Directors Of the
f..Sr-aetiye companies the following cor
U1rate officers were also reelected:
IT. 3. Pant. President; II. >. Haines.
General Manager; L. b. smith, secretary,
and ". =. Hardee, Treasurer, OF the Sa-
v3nnab. Florida and Western Railway
Company; and II. 5. Haines, President.
and W. p. Hardee, Secretary and Treas
urer. of the WaycrOss and Florida Rail-
road Company.
The official reports show a considerable
increase in the volume Of business, but
a decrease in the profits. This result IS
owing to the continued reduction IN rates
los the Railroad Commission.
\ matter of considerable public inter-
est was considered by the stockholders Of
90 2 F.sa
for the consolidation Of the WaycrOsS and
Florida Railroad Company, the East Flor
ida Railway Company, the Live Oak and
Rowland's Bluff Railroad Company. the
Live Oak. Tampa and Charlotte Har5Or
Railway Company and the Chattah0Ochee
and East Pass Railway Company was dis
cussed and settled.
The savannah, Florida and Western
Railway lines commence at Savannah and
run to Live Oak. to brownsville. Albany,
cambridge and tue Florida State line near
ChattahOOchee. The WaycrOss and FlOri-
da line begins at WaycrOss and runs to
the northern bank of the st. Mary's river.
The East Florida line joins the line of the
WaycrOss and Florida at the northern
bank of the st. Mary's river and runs to
the ST. Johns river at jacksonville. The
Live Oak and ROwland's Bluff Railroad
unites with the road OF the
Savannah. Florida and Western Rail
way at Live Oak and runs to New Bran
/ ford on the Suwannee river. The Live
/ Oak. Tampa and Charlotte HarbOr Rail
/ way connects with the last named road at
{ New BranfOrd and is projected to run
/ from thence to Gainesville and to Charlotte
! HdrbOr and Punta Rassa, with branch
/ to Lake City. The ChattahOOchee and
/ East Pass Railway is projected to unite
I with the road Of the Savannah, Florida
I o,,1 ocfarr Roilu-0v (OD0napV the
/ State line near ChattahOOchee and run tC
/ East Pass on the Gulf
! The terms Of the proposed consolidation
are briefly as follows: First. 1t shall be
/ into and under the name and charter OF
| the Savannah, Florida and Western Rail
| way Company. Second. Each of the other
companies shall make, or cause to be
made. a transfer and conveyance of all Of
/ its stock and property to the Savannah
/ Florida and Western Railway Company
[ Third. Each of the other OF SAID
/ companies shall change its name
to that of the Savannah, Flor
ida and Western Railway Company
which shall be the name of the console
/ dated company. Fourth. The consolidate
| ed company shall assume and become re
! spOnsible to pay the debts and liabilities
of each and all Of the said companies
! Fifth. The stockholders of he Savannah
| Florida and Western Railway Company
shall retain their original shares, which
hereafter shall represent stock IN the en-
tire consolidated company. And the stock
holders of each Of the other companies
upon the surrender and transfer Of theil
respective shares, shall be entitled to ant
receive an equal number of shares of the
capital stock OF the consolidated company
But il any stakeholder should neglect
or fail to surrender his shares as atore
said in either Of the said companies, the
said shares shall nevertheless entitle the
owner to all the rights and privileges OF 6
stakeholder in the consolidated company
to the full extent of such shares, and the
same as if they were shares in the cOnsoll
dated company. Sixth. As soon as thls
agreement has been executed by all o.
the said companies, the consolidated com
panv shall be formed, and Immediately be-
under the management and control OF the
existing officers and directors OF the Sa
vannah, Florida and Western Rail
way Company, who shall become the OH
GERS and directors Of the consolidated com
panv until their successors are duly elect
ell or appointed and qualified. Seventh
That all details and other matters no
herein provided for may be regulated anC
/ executed in such manner as the Board o
Directors of the consolidated company
NAV deem best and direct.
After adjournment the visiting stock
holders were driven to the Savannah
Florida and Western Railway wharve'
and to the depOts, to inspect the improve