The Daily times. [volume] (Richmond, Va.) 1886-1889, 1888-06-01
WEST POINT TERMINAL
>yFCItL CILLFD MEETING or THE
STOCKHOLDERS.

In.ec Majority of Che stock Represented
Mr. Inman', Election Ratified Action "'
n,e Board OF Director. indorsed-Ihe
rre.ifcut'. Report Resolutions.
snccial meeting of the Richmond Il
West Point Terminal Railway Company,
called ai ,hc instance of number oil
Stockholders holding one tenth ana more
oftbe capitnl stock. was held Yesterday IN
the parlors of the Exchange llo el
Major James H. Dooley called the
meeting to order, and on motion Mr.
Edgar VI. Johnson of New York was
elected chairman
The committee on proxies reported the
stock represented as follows;
Preferred stock in person, 4G,OO2 by
pr1xv iGO02 Total, 92,00. Common
stock in person and by proxy, 392 COL
necessary to quorum. 2249OS more
than quorum present, l6H11.
The stock represented by Rice ana
others was % 60i shares by Laulerbach
and others. 2gs OOi shares.
THE OLD N>NAGENEET ENDORSED.
After the report of the Committee on
proxie, bad been received, The following
prcamble and resolutions were offered
and adopted
Whereas general meeting of the
stockholders Of the Richmond ~ esi
Point Terminal Railway and Warehouse
Companv was called at the instance OF
oneienih oi iis stockholders pursuant 10
statute. and whereas the Board of Direc-
t0r- OF the said company caused such
meeting tO bee convened; anc whereas
certain persons have criticized the action
az tbp present B0lrl and of its prcdc
cp.-or Board and have caused series OF
ino1irit. hereto annexed t0 be epr0pound-
cI for the purpose of casting discrcdit
ODD ihir course. and whereas the
present Board of Directors have
ruu1td answers 10 the said in
0urie.. which are also hereto annexed
ana whereas the procedure OF the pre-
sent Board and That of the year 1887 III
ItEiil to thc matters referred To IN the
said questions. and in the general con
duct aud management of The affairs OF the
company. are satisfactory To- the stock
holders of ihe company.
Resolved That the course, policy, con
duct and management OF the present
Bond of Directors, and of lis immediate
PREDECESSOR Board. and of the executive
officers and directors for the years 1857
and 1883 of all The as,Orialcd companies
forming tue Terminal system, and
especially n respect to the various mat
irr- referred 10 i'm lhc said question, are
fully commended, ratified, and approved
Resolved That the stockholders dep
Iicate and condemn the action OF those
who have useiessiy and unnecessarily
caused "a general meeting of The stock
holders 10 Doe convened. cntailing large
expense and Inconvenience 10 the Com
panv. and who have unjuslly exposed and
criticized the Cumpany's methods, thus
tending To- dcprecia'c its securities aud
tO weaken jhe confidence of the commu-
nitv iu ils management what We bcicc
90 ne sound ign every respect
rREIpENT AND DIRECTORS E1ECiEp.
The meeting then ratified The election
of Mr. John IL luman Of New York as
president. and Messfs. W. $ Chisholm of
Savannah. Georgia, and Nj. j. {. Cal.
Aoun of New York were chosen mem
bers Of the new Board.
THE PRESIDENTS REPORT
President Inman then presented bis re-
port. a- follows
The gross earnings from passenger
business show large increase over The
corresponding period tseyen months ana
three weeks of last year, and on the
Richmond & Danville system IT, amounted
o. = o9j 500
The '0jal gross earnings for the above
period seven months and three weeks
were Richmond Il Danyillc 81 32l ,l22 A.
Virginia Midland. $l10j. 1e9 80 Char
lotte * Augusta, S6l9s2j 50 Columbia *
GreeuyiIe S4jO15j 80. Western North
Carolina S4l9.1Sj o. Total Sj,9lG,G1s
50 being am increase of S7G911I3l
The gross earnings OF the East Tenne-
See Virginia ~ Georgia Railroad Cor
pany for nine months, were Sj.73l ,S2l G&,
being am increase OF SS47,,j192, and Il e
net earnings for that period were $3.50,
l6G9j
The net surplus for seven months
earned by the Richmond Il DanVille sys-
tenn iu excess of an charges for interest
rentals. and taxes, amounted To s'32, ,0G9.-
g&. am increase of nearly 100 per cent.
over the corresponding period OF last
year
The physical condition OF the roads
has been improved, aud large additions
made to lAc equipment.
JoHN H. lNMAN, President.
After receiving the president report,
The meeting adjourned.