The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1884-05-22
Tho Report be received as information

the Report be received os information
and adopted by the Convention.
Inc committee further recommend that
the President and Board OF Directors be
instructed to look after she subscription
OF the A. & X. Railroad to this Road, and
take e., % ouch action as they may deem proper
All of which is respectfully submitted.
L. b. MURRAY, Ch'm'n.
On motion OF H. H. Harper, It 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.
ttons, offered by r. L. Moorhead, were
adopted:
WHEREAS, Full power and authority
was conferred by the Stockholders at their
annual Convention lin 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 judgD ent the time should arise
TO create said bond-debt, and to execute
said mortga.s .se, with full power and
authority TO determine and adopt ell de-
tails as to the aggregate amount Of bonds
TO be issued, the denomination thereof.
thereon, together with all details not
specifically mentioned; and such bonds
ana mortgages have not yet been issued
and executed. BE 1t, therefore,
Resolred, That the power and authority
heretofore conferred upon the said Board
extended and continued in full force.
And be it further
Resoiped, BY the Stockholders in Cor
Vention assembled, that IL an exigency
should arise when in the Judgment or
the said Board of Directors it might seem
TO them e1pedient, desirable or necessary
TO use and employ tho stock of the com.
Pany as security by itself or conjoint-
~ with any other securities In the nego-
tlation or loan or loans, for the benefit
OF eaid company in constructing its Road
or rappurtenances 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
s9ch value and for auch specific purpose,
Crowded 1t be for the benefit of the com.
pany in constructing Its Road or appur-
tenances, or some part thereof. or equip
ing the same) as in their Judgment shall
seem advisable and expedient, with power
70 do all things whatsoever necessary and
proper to be done in the execution of the
authority herein delegated and bestowed.
Aa;. Z. 3. Murray offered shc follow
ing resolution, which was adopted:
Rssolred, That the Board of Directors.
before locating any depots along the line
OF the Savannah Valley Railroad, be and
they are -lereby instructed as far as prao-
ticable to secure the grading of sidings
and the erection Of depots by the conimu-
mites securing them, and for this purpose
70 receive competitive offers from suit
able points along the line.
Tho following resolution was offered
and adopted:
Resolred, That the action of tho Board
of Directors IN accepting tho 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. +. Whitner, j. N. Brown.
p. *. McCully, s.. Bleckley, w. q. Wat.
son,,J. NJ: Latimer,' Thos. y. Hester, s. J.
Hester and J. A. Gilbert.
The Convention adjourned.
: s. NJ. ORR, President.
4. j. Il. BREAzEALE, Secretary.