The Durham recorder. [volume] (Durham, N.C.) 1879-19??, 1889-06-26
LYNCHBURG ANDDURHAM,
Annual Meeting of the Stock
NEUTRALITY-SUSPICIOUS. Offered.

The annual meeting OF the stock
holders of the Lynchburg and Dur
ham Railroad Company was held
Yesterday afternoon in the office Of
the company in this city. President
P. ]. Otey called the meeting to order
and Mr.. Jacob Fl. Franklin was re
quested to preside.
A committee on proxies, composed
of Messrs W. Bouldin, B. Cameron
and Edward Irvine, was appointed,
and after brief retirement reported
SOFA shares represented, out of a
total of 6,6SS.
President Otey then submitted his
port as follows:
LYscHBURG AND DURHAM r. R. Co,
LYNcHsuRa, Ia, June Is 1889.
To the Stockholders of the Lynch.
burg and Durham Railroad Company:
GESTs-Today is the day appOin.
ted by your bylaw for your annual
meeting. Work on the road is pro-
crossing fsvorably and it is to be
hoped BY January lst, 1890, cars will
be running to the city of Durham.
present the balance sheet Of th.
road which will show the following
condition. In every particular the
Penn Construction Company has met
my most sanguiDe expectations. They
are showing zeal in constructing in
every particular first class road, and
have gone far beyond our own spe-
cifcation in the the matter OF bridges
having constructed frst.clsss iron
bridges rather than combination, or
part iron and part wood bridges.
They are purchasing first class roll.
ing stock and motive power, reject
ing all offers for second hand equip
ment knowing that cheap articles are
generally Of inferior quantity. They
have full corps Of engineers on the
line and contractors are at work on
the line from one end 10 the other.
All work has to be passed on by our
engineer and if inferior work creeps
in it can not attach TO them. Ths
small section of road which We are
operating is paying q little more
than the actual running exps nses,
which is more than we expected of it.
Developments are going on the
line which ! think will ensure q good
traffic, and as We will not had
70 provide for interest till January /
1891, it is not unreasonable TO 0 up,
pose that we will have BY thatitime
gotten sufficiently over our period oil
infancy to be able to meet all GU,
fixed charges. II there is q road in
the State which, running through 9
even approximately as rough coun.
try as ours, can present 80 small
amount as fixed charges per mile Al
ours | do not recall it II is not
therefore, quixotic to look toward tc
q time when your stOck will be in de.
mand.
1t 10 with pleasure that | can re,
port that the officers aud employe,
Of this road have worked in season
and out Of season with commend able
Zeal for the company. Since be
ginning the operation Of the road ",
have had not an accident worthy o.
mention until the 18th Of this montt
two employees Of the road returning
from work undertook to cross thl
Fishing creek trestle northumberland
ing the warning not to do 80, wheI
they were run over and killed. NJ
blame was attached 10 the compan,
as is evidenced by the corners yer
dict. / have endeavored TO ameli
crate the condition Of the families u
the unfortunate men who wer
worthy, efficient and good workmeu
IS far as | could by providing then
witb provisions and other necessa
ries. Respectfully submit d,
PETER j. OTELY, President.
The above report Was referred 20
committee Of seven stockholders, q
follows: NJ. II. Payne, X. W. With
ers, I. Ii Clark. A. ID. Anderson. g
II. Nowlin. J. w. Wright aud J. L
Holt the committee reported favor
ably, and on motion the report va
received and approved.
The exam ming Commute. preyi
Ously APP tinted 20 examine tue &C
counts Vi the president, ~ the dis
bursing officer Of the company, sub
nittd their report, Stating that the,
had found the accounts corr ect, an
the same VS. ordered " be fled.
The following resolutions we're Of
fered aud adopted:
RssSlved, That the President b
and be 10 hereby authorized 70 issu
apass for life 70 parties Who ma,
give the land and build . depot &C
cording 70 the plans aud specifics
tons Of sucb depot building a. ar
needed Al such places.
RssOlred, That tie action Of IN
president and board Of dire ctors Il
making the change 10 the location
Of the line Of railroad from nes
Catawba 10 halifax Court House, re-
ported to the last StOckholders' meet
ing held NJ South Hoafon. I'm Maj