Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1884-12-20
VIRGINIA MIDLAND RAILWAY.
STOCKHOLDERS MEETIN
RESIGNATION OF PRESIDENT JOHN S. BAR
B0UR-ELECTIOE OF COL. A. S. BUFORD.

I
RESIGNATION OF PRESIDENT JOHN S. BAR
B0UR-ELECTIOE OF COL. a. S. BUFORD.
The annual meeting of the Stockholders
Of the Virginia Midland Railway was held
at the Office of the company in this city at
noon to day. Edgar Snowden in the chair
and Col. l.. w. Reid secretary. The COM
mittee on proxies having reported ma
iority of the stock represented in person
and by proxy, Mr.. Barbour read the report
of the President and Directors, showing the
gross earnings for the year ending Septem-
her Both to have been: Freight, SITS, 749 81
passengers, 1852 .O34 40; express, ST, l7l.2l;
mail, SIS, S13 40; Manassas rental, $S9, 2oO %;
miscelaneous, Sl9,Sl1 So. Total, 81 ,62o,-
S3O33. The operating expenses were SUN
2l7. 40. leaving net earnings S626, 6l2.93. The
gross earnings were S3S, 1871 less than
1883. aud the operating expenses were S4o,-
O22. 73 more than in 1883. the net earnings
in 1884 were $Sl, 1864 less than in 1883.
The decrease in the gross earnings was due to
a falling off in the through freight revenues.
The local freight revenue was only S5OS less
than in 1888. The passenger business showed
au increase of s29,908.7G. Two thousand,
FIVE hundred tons of steel rail have been
put in the main line during 1884, making
l55 miles of steel and leaving IS miles OF
iron still in the track. A great amount Of
baI.asting has been done and large nun
her of cross. ties have been put into the
track. A new iron bridge, 757 feet in
length, has been constructed over the James
river. The report recommends that the
company will al once arrange for the con-
struction of many cars passenger and
freight; also that new freight and passed.
ger depots should be erected along the line,
as they are badly needed Especially is al
tention called 10 the necessity of new
depot building at Charlottesville.
The report was adopted and referred to
the new board of directors.
The next business in order was the cleo
ton of a president, when Mr.. Bryan nomi-
mated Hon. j. S. Barbour for reelection.
Mr.. Barbour requested Mr.. Bryan to
withdraw bis name, as he had determined
to decline a re election. He then gave a
succnct history of his connection with the
road and how, under his administration it
had progressed notwithstanding the adverse
circumstances under which the company
had labored. He had been able to complete
the line across the State and fulfil his deter
minalion when he first entered upon the
discharge Of his duties as president. 1t was
with feelings of regret that he would sever
his relation as president, having held it SO
long, but he did it because the control OF
the road had passed into the hands of those
whose interests it would be to unite it with
the DanvilIe system and have one manage
ment for the whole. Mr. B. spoke feelingly
of his long connection with the company,
and the sentimen tal feeling with which lie
severed his connection, and his declinatloD
was received with feelings Of deep regret.
As soon as he had concluded, Mr.. Bryan
rose and expressed his deep regret at the
determination reached by Mr. Barbour, and
spoke in the highest terms of Mr.. B.
Mr.. McAnerney then offered a resolu-
ton for the appointment of committee to
take Mr. Barbuurs resignation into consid-
Grafton and report what action should be
had The resolution was adopted, and
Messrs McAnerney, Bryan and Payne were
appointed, who, after consultation, reported
the following:
WHEREAS, The Hon. John $. Barbour has this
day declined TO accept reelection to the presi-
dency OF this company, and the stock holders De
string time to make some lifting acknowledge.
ment of their appreciation OF his high official
character and loug continued services in their
behalf
Rssolred /, That committee of seven be APP
pointed by the chairman OF this meeting. with
full power to represent the stock holders of the
Va. Midland Ry. Co and to take proper action in
regard to tho retirement of President Barbour.
Resolved - That the action Of the said Com
mittee be spread upon the minutes a5 part of the
records of this company aud the action of this
meeting.
Mr.. McAnerney in submitting the report
paid fitting eulogy to Mr.. Barbour, and
was followed by Messrs. Coghii and Black
ford, each of whom spoke of Mr.. BIS Goa
nection with the road, OF his being the mas.
ter spirit Of the enterprise and Of its being
almost an imposslbility to have built the
road without him.
The report was then unanimously adopt
ed, and Niessrs. H. c. Fahnestock, (chair-
man) VIM. p. Clyde, Il. F. Baker, A. 5. Blu
ford. John McAuerney, Jos. Bryan and w.
Ii. Payne, were appointed committee I'M
der the resolution.
Col. A. S. Buford was then nominated for
President aud unanimously elected.
Upon the announcement Of his election
Col. B. thanked the meeting and promised
to fulfil, to the best of his abilities, the duties
of President.
The following directors were thea elect. d.
Hon. Jno. S. Barbour, Geo. F. Baker, G. NJ.
Blackboard G.. S. Brice, Jos. Bryan, VIM. ?.
Clyde, r. A. Coghill, II. c. Fahntst OK, c.
G. Holland, J. Il. Lowell Juo. McAnerney,
J. G. Maben, Geo. Parsons, w. H. Payne,
g. g. Scott, A. D. Shepard.
Col. Buford then offered the following re-
solution which was adopted:
That a committee of five members of the Board
be appointed by the chairman, to consider the
expediency, in the interest Of this company, Of
creating general mortgage to secure an issue of
5 per cent. bonds for such amount, not exceeding
twelve millions FIVE hundred thousand dollars. rs
will be sufficient to secure and provide for the
tire bonded obligations of the company, including
its Income Bonds; and if in the opinion Of such
committee the same is deemed expedient that they
report their views on this subject to meeting of
the Stockholders to be called by the President at
such time rs the committee may select for the
purpose of considering the subject aud taking
such action thereon rs the Stockholders shall
deem best.
Messrs. Buford, Fahnestock, Barbour,
Rakar and Rryan were annointed said oorn.