Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1889-11-21

Actual profit

Actual profit fl37s-3 -
During tno potiol reported in tho company
suier0l heoTi y from cau-cs which are set forth
il the General Superntonlen.s report, neyor.
the'css ne board have decided that tho result *
The year's operations justify the payment OF a
divide al % per cont for Tie ak months end
ms 3th September, 1879, and payable January
!, I-.d
Jn,. resolution adopted by tho sto,kholders NJ
their meeting November Il, 1859, authorizing
the construction oi a branch road, not exceeding
ton r.ilos in icugth. 10 cOnuect the Richmond,
tr .acricksburg ami Potomac and Rchm0nd and
]. f.r-nurs railroads from p pcint north of Rich
u iCni 20 a point south thereof, 20 a. to enable
g. com pGhy 10 comply. o. tho grt G'est eAt"At
- sDle, with tho requirements Of the city Coun-
cil, hos been noted upon, and ;he board hNed
l4pon the rou,s in nccor1anco wiki the resolu-
sion and the charter Of mo company. deter
d mining 20 construct branch line Of about four
III les or less IN lencih from Branchs Crossing,
Que and eight tenth- milc1 north ~ tue corp0raio
limits u ri edmond on i's main line, 70
point ON James river, thence 70 Meot
aul connect with brsucn line = tho Richmond
aal Petersburg rallroai extending from point
ON tie latter rori south of Manchester ANA
A which branch j, Ices tla1 SIX miles long, and
the board proceeded 20 have action taken Tor the
acquisition hy purchase or condemnation Of th9
necessary land. and With the construction ~ the
ron1, until by force Of iniun 'tion, gran al uF
tho circuit Court oi HenrirO upon he eppli'a-
ton OF certain landowners the WORK Of grading
Was suspended cui now stands suspended,
awaiting The decision u tho supreme Court OI
Appeals of Nirsiuia.
one of those Injunction cases. in which tho in-
Junction was dissolved, hss been tazen 20 tho
Court % Appeals, cnd the board - informed by
d the company counsel That Iu ono on the con
le'nDa.eu cases, in which Judgment Wa on
fe I'd 10y the County Court Vt Ncurico in Tire CONE
pAuv's favor, an appeal has been taken 20 tho
Circuit Court Of lleurrO, and fnat court fa7 OK
pressed nm ouiuion adverse % tue company aud
win no o few days most probably enter judgment
reversing she lower court and di-ini--'ue tu9
louG .mult.u pro,osd ugs, and that from tAi5
decision the company VIII Hpped', ami lt "a *
pecfed chat tle two cases VIII ho heard ln mo
Court or Appeals az an early day anu hnal de-
cision coached.
This delay coming at his season VIII render IL
impossible 10 accomplish that which was in
tcalel by April u next year, which IA the limit
' lXei by mo Council fJr tho us' = steam Oh the
present lire through Richmond As, however,
{ Tine company has ovin-ci o,ory deposition 90
aau5fy the demands upon 10 without shrinking
from the heavy outlay involved. the Council VIII
? b. asked for Rn1 will no doubt readily assent %
an extension of TIE umc fixed by thom IA
limit without question "A 70 TIE legal rights IN
y0yei.
e2.500.000 RESOLUTION.
The board recommended the adoption If
: the following resolution by the stOckhCld-
crs:
R.soirr5 Jv the Stoctiotiers NJ the Richmond,
I FoasrifksLUfg ami P,f0nHc HniNfoad CpVtrt,
,f grutgqi .ns0tii4 assembled. hat tho President
and Board OF Directors be, and Trey are hereby,
/ authorized and empowered T. prepare ami issue
! at their discretion, for tho purpose of providing
for an tho obligations aui indebtedness ot this
/ comuany ard for the pur hase ot additional
I equipment. for mountaineering tho roei Tor tho
! constitution Of sGcn branches and extensions ~
may be de. med necessary ani beneficial, cud
for its other lawful purposes, bonds 10 the
amount ot two anl "a hall millions Of collars, to
be OF such denominations aud of such .orm aud
! dato Iul limo and rate ~ interest az the Board
! Of Directors may determine and the said Presi-
/ dent ia further authorized and empowered, Tor
4 and on behalf Of this company, o execute and
cause 20 b. recorded q deed OF trust OF mortgage
l in which 4halI he conveyed al thc railroad anl
works % the conf any. itsfranchises and cnsrter-
rights. together with such other OF its property
now held or which may hereafter be acquired. aS
the President and Board Of Directors may deem
proper lO convey. and also tie net revenues ~
tue company 10 secure the fun and hual pay
ment a. The principal and interest oi the bonds
nereiubefore authorized 20 b9 issued and that
tho terms conditions, AMI covenants OF said
deed Of trust or mortgage 10 be ia other respects
such "a iLo Board OF Directors shah approve aud
! adopt.
signed by order OF the Board
Vi. ROBlSsOS, JR., President pro TEN.
PRESIDENT AND DIREcToRs.
Major +. T. d. Myers. general superin-
tcudent OF the road, wa, elected president.
he viii also attend to the duties Of tie
former position.
The old i}oaTi of Directors was reelected.
THE BONDS.
The resolution for the issuing Of the
s.. 500. 900 of bonds a. recommended by
the President and Board OF Directors, was