Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1889-02-20

A long discussion ensued in which the
whole question pro and con was thoroughly
presented, and many gentlemen particle
pated in it. The leaders on the floor were
Mr.. Glasgow, who submitted the majority
report, and Mr.. Patrick who presented the
minority report. The discussion was able
and spicy, and the position of each side OF
the question well defined. Whilst the dis
cussion was proceeding. Mr.. P. A. Baylor,
of Stauntop, delivered his views on the
legal points involved in speech which was
highly complimented by many of the
stockholders.
The minority report after maintaining
the plan Of issuing the stock as laid down
in the prospectus. conferred upon the new
Board of Directors discretionary power as
to the future issue of stock and other mat
tiers of detail. 1t was then carried by a
large majority, SO evidently SO that the
other side surrendered the right of calling
a scaled vote, Mr.. B. c. Moomaw, who
represented three hundred shares, and
others forty, fifty and SO on, declaring
their willingness to stand aside in the
count and to accept the decision, their
stock not counted. The minority report
was on motion of G. D. Letcher considered
by sections. Previously and following
this decisive vote, there was general ex'
preston of satisfaction by all parties-al
realizing that great work had been set in
motion, and the proudest achievements
awaiting the unity of efforts.
Mr.. Patrick, who conducted the question
as it was decided. was personally stranger
to much the larger portion of the stock
holders. His logic and style pleased them
He was brief, but yet so clear as to be fully
understood, and as be concluded eact
separate point discussed, the evidence O.
concurrence in his views was made known
through that magnetic influence that Otter
draws speaker and bis audience verI
near to each other. He had that manifesto
ton of approval at the first when he briefly
laid down his premises.
The report of the COMMITTEES on business
| in which there was unanimous concurrence
by it's members, recommended that, witt
the President, the Board of Directors b.
nine in number, and apportioned as fol
lows: To Rockbridge, five &; Lynchburg
one; Roanoke, one; Staunton and Augusti
county, one; and one at large. Mr.. A. I
Barclay, of Rockbridge, was chosen Presi
dent and Director, as we're also direction
from that county Mesrrs. B. c. Moomaw
G. F. Jordan, F. T. Glasgow and Thos. E
cCorkIe, -Messrs. Nelson and Figgat o
the old Board declining further service OF
the Board. Wilbur l.. Moorman, of Lynch
burg; Geo. D. McLane, of Roanoke ant
Pittsburgh, Pa. William Patrick, O
Stanton; and DR.. s. P. Fl. Miller, O
Rockingham, at large, were elected; ant
thus the full Board, with a President, wal
chosen.
As the election was going on, there wer'
many elegant brief speeches delivered
notably by Mr.. Payne, Of Lynchburg, Wit
said there were many persons, especial.
young men, in bis city, ready to invest il
the enterprise, and he would return will
good tidipgs to them of all he saw ant
heard, and Lynchburg in this movemen
would give good account of herself.
| Mr. McLane is a Northern man, and hi
speech, as was that of Mr.. Miller, O
Roanoke, in nominating him, was gem il
sentiment ard purpose. The meeting wal
also pleased when Dir. Moomaw paid (
glowing tribute 10 the talents and energy
and will of Mr.. Barclay, who was con
tipued at the head of the Company on the
motion of Colonel W. NJ. Patton.
Resolutions were adopted appropriatine
81, 200 to pay the expenses incurred by tbs
old Board OF Directors and of thanks to the
officers, &c.
This meeting was declared the first an
nual, and the second Thursday of February
fixed as the time for future annual meet
ings.
Colonel Pendston in putting the motion
to adjourn sine de. delivered one of hi
brief and happy speeches.