The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1886-09-29
The Atlantic, GreenviIle and West
pru Railway.

GrccnrHle Enterprise and Mountaineer.
"A special meeting of the stock holders OF
the above Company was held M nt Nlncty-SiX
the meeting was to give authority to the
President and Board of Directors to mortgage
the property and franchises Of the Company
to raise the necessary means to complete and
equip the rOud and put it in working condi-
ton.
Every dollar OF the stock was represented
in the meeting, which shows the deep
interest the stockholders feel In the speedy
harmony prevailed and the proper res.
olutions were adopted to authorize the
carrying out of the purposes of the meeting
and to make the road. d.".standard.gauge, II
thought advisable by the Directors. bylaws
for the government OF the Company were
adopted and the whole working organization
perfected
At meeting of the Directors on the morn.
Co. submitted a proposition to take the as.
sc is Of the Company; that is. the township
bonds that have not been sold, and the, pri
, vntc subscriptions and pay all Indebtedness
equip, and put 1t in first.class working condl'
| tion from Augusta to Piedmont. They in.
cludc in this proposition condition that
mortgage bonds of the Railroad Company
hearing seven per cent. Interest for the stock
! held by them; and, in case the townships de-
cline this, then the Company to Issue 10 them
u
terest. In the stock of the Company, which is
- control Of the road. They propose TO give
all sorts of guarantees for The faithful carry
| ing cut OF their part Of the contract.
plated the extension of road from Greenville
nOr,hward. That they were backed by &
large capital that was abuntlantly able to &C
complish anything they desired, but declined
tn which they intended to build their road
but said their hackers were individuals
not corporations, and further that Il
. the road was only to extend from Au.
#, that its principal value 10 them was Its cx
tension northward from Greenville.
A resolution was adopted by the Board ol
Directors accepting the proposition of Messrs
suSOng 4 Co., subject to the approval of tho
The The lth Of November next. The res" So
lutions accepting the proposition were adopt
ed by the Directors 6y Is decided majority:
rany, as we understand, did not favor &C
! cepting the proposition as II WIS submitted
q present.. He wanted to know 70 good ttea
more than they seemed willing to tell OF it'
provisions, conditions and details before do
| ing so; besides, as he told the Board, he had
! always understood, and had so expressed
himself to the stockholders and to the peo
pe In all he had ever said and written, that
| ihis was to be q road built by the people
and owned by them for their own use ant
benefit, free from any alliance with any com
hnatiOns or monopoly. lie was unwilling tC
see it depart from their control without some
necessity or good reason tor IL, which in his
Judgment did not r0w exist He Ind givcr
notice to tho stockholders at their meeting or
the day previous that at their annual meet
ing on the 4th OF November lie would certain
| ly retire from the Presidency. That his 9th
cr duties occupied all his time, SO that he hat
none left flr the discharge of the necessary
duties Of the Company. But as he was moi
| In harmony with the Board as TO their policy
and especially with reference to accepting tho
proposition OF MesSrs. Susong C Co. rs admit
led by them. and as the annual meeting wa:
some time ahead, he thought It best that hs
should retire ut once, and consequent tly ten
dercd his resignation. The utmost good feel
| ing prevailed and there was not the first In
Gimatlon OF unkindness ON the part Of any
member Of the board.
It is understood that on tho afternoon Of tht
same day 4 consract was made with Al
rxunder Stewart & Co. 10 grade thu
line from Saluda River at Wares Shoal!
20 Piedmont. taking the township bond:
| in payment therefor. This will complete
MI rlc grading from Augusta to Pied
mnnr, leaving the ten miles from Pedmon
| 20 Grepnvillc, only 10 he let to contract
tirccnville is expected. to furnish money to
10 tTr;lt, il slsc wants the ropl.