The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1884-05-22
sba Renort be racaiped as information

the Report be received as information
and adopted by the Convention.
The committee further recommend that
the President and Board of Directors be
instructed to look after the subscription
of the A. & X. Railroad to this Road, and
take such action as they may deem proper
in relation thereto.
All of which is respectfully submitted.
E. B. MURRAY, Ch'm'n.
On motion of n. n. Harper, 1t was
Resolved, That the President of the
Company hereafter receive salary, the
amount of which to be fixed by the Board
of Directors.
The following preamble and resolu-
tions, offered by r. l.. Moorhead, were
adopted:
WHEREAS, Full power and authority
was conferred by the Stockholders at their
annual Convention Gn May, 1887 upon
the Board of Directors by resolution, to
issue bonds and execute mortgage Of
the road with all the franchises and prop
erty of the company to put on the super
structure and equip the road, whenever
in their judgment the time should arise
to create said bond-debt, and to execute
said mortgage, with full power and
authority to determine and adopt all de-
tails as to the aggregate amount OF bonds
to be issued, the denomination thereof.
the time when payable, and the interest
specifically mentioned; and such bonds
and mortgages have not yet been issued
and executed. Be it, therefore,
Resolved, That the power and authority
heretofore conferred upon the said Board
of Directors be, and the same is hereby,
extended and continued in full force.
And be it further
Resolved, BY the Stockholders in Con-
vention assembled, that if an e1igency
should arise when in the judgment of
the said Board of Directors it might seem
to them expedient, desirable or necessary
to use and employ the stock of the COM
pany as security by itself or conjoint-
ly with any other securities in the nego-
tiation of loan or loans, for the benefit
of said company in constructing its Road
or appurtenances or any parts thereof, or
to sell said stock absolutely for the like
purpose, the said Board of Directors are
hereby fully authorized and empowered to
issue said stock, to hypothecate or sell the
same in such quantity, on such terms, for
such value and for such specific purpose,
provided it be for the benefit of the COM
pany in constructing Its Road or aPp1r-
tenances, or some part thereof, or equip
ing the same) as in their Judgment shall
seem advisable and expedient, with power
to do all things whatsoever necessary and
proper to be done in the execution of the
authority herein delegated and bestowed.
Maj. E. B. Murray offered the follow
ing resolution, which was adopted:
RESOLVED, That the Board of Directors,
before locating any depots along the line
Of the Savannah Valley Railroad, be and
they are hereby instructed as far as prac-
ticable to secure the grading of sidings
and the erection Of depots by the commu-
mites securing them, and for this purpose
10 receive competitive offers from suit
able points along the line.
The following resolution was offered
and adopted:
Resolved, That the action of the Board
of Directors IN accepting the subscription
of the City of Anderson in bonds of that
city be and the same is hereby confirmed.
The following officers were elected for
the ensuing year:
President-W. w. Humphreys.
Directors-B. F. Whitner, j. N. Brown,
P. K. McCully, s. Bleckley, w. g. Wat
son, j. NJ. Latimer, Thos. 3. Hester, s. j.
Hester and j. A. Gilbert.
: The Convention: adjourned.
- S. NJ. ORR, President.
:, J: E. BREAzEALE, Secretary.