The Sedalia weekly bazoo. [volume] (Sedalia, Mo.) 187?-1904, 1886-04-06
A NORTH Road.
A Company Organized Yesterday
for the Purpose of Con.
structing 1t.
The Capital Stock Placed at
81, 600 Proceedings
In Detail.

The Capital Stock Placed al
81, 2SO,O Proceeding
In Detail.
Pursuant to a call issued by John
B. Jaynes, about fifty gentlemen OF
Pettis and Saline counties, all of
whom are interested In and subscribers
to the organization of o railroad ex-
tending north from Sedalia, convened
at Woods hall at 1890 o'clock yester-
day morning. The delegation was a
representative one in every sense of
the word, and it was evident that they
meant business.
The meeting was called to order at
II o'clock by Mr.. Jaynes. He stated
that an invitation had been extended
to the citizens of Sedalia generally to
be present, but those who had not
subscribed to the organization of the
company we're not expected to partic-
pate in the proceedings 1t was the
original int ntion, he said, to construct
a road from Sedalia, Pettis county, to
Marshall, Saline county, but later it
was thought best to extend the line to
Cunningham, Mo-. a distance of about
20 miles.
A CHAIRMAN ELECTED.
The first order of business being the
selection of a chairman, Mr.. Jaynes
named John Montgomery, jr., and
he was elected unanimously.
For secretary, X. G. Sneed nomi,
mated l.. J. Hamlin, of Saline county,
who was also chosen unanimously.
Remarks are in ORDER" stated
Chairman Montgomery. but there was
death-like stiffness. Finally Judge
Hurt, Of Saline county, was called for.
my delegation came here for bus
mess, said the judge, "and not to
talk. We have NO pets or schemes,
and will cheerfully acguiesce in what
ever q majority Of the subscribers de-
eide upon. A $1,000 subscription
entities a stakeholder to one vote,
| believe. In my opinion the
first thing to be done is
to decide upon the number Of direct
ors to be chosen, and how many
shall be allotted to each Of the coun-
ties, Pettis and Saline. This being
done, it ought to be determined how
much theroad can be bonded for.
FOR ALL THE CAPITAL STOCK.
Chairman Montgomery said it was
possible to bond the road for the full
amount of the capital stock. In OF.
der to secure a charter, however, 10
per cent. of the capital stock must be
subscribed and per cent. paid in be-
fore q charter could be secured. As
to the number Of directors, there
could not be less than FIVE nor more
than thirteen.
/. G. Wi hers, of Marshall, moved
that the meeting at once proceed to
organize the company by electing q
board of directors and preparing the
articles of association, but there was
no second to the motion.
Mr.. Withers then moved that a
board of eleven directors be chosen,
and K. G. Sneed amended by making
the number thirteen. as more effective
work could thus be performed.
A vote was taken on Mr.. Sneed's
amendment AID it was carried unani-
mously.
After an uninteresting discussion of
fifteen minutes, participated in by
several gentlemen, Mr.. Jaynes read
from manuscript
A NUMBER OF SUGGESTIONS
from w. III. Scho6eld, of New York,
an experienced railroad man, in rela-
ton to the construction of the road,
and the same was explained in detail
by Mr.. Jaynes as he proceeded with
his reading.
A second uninteresting discussion
followed in regard to the articles of
association, portion of the delega-
ton inclining to the belief that this
should be the next order of business,
while others thought it should come
up later.
It was at length decided that of the
shirteen directors Pettis county
should have seven and Saline six.
How to select the members of the
board and prepare articles of associa-
ton elected q short discussion, and
finally Mr. Withers moved that the
chair appoint a committee of three
two from Pettis and one from Saline
sounty-te select thirteen directors.
The motion was carried, and the chair
named as the committee j. III. Cor