The Durham recorder. [volume] (Durham, N.C.) 1879-19??, 1891-06-24

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struction Of said extension if in their
Judgment the construction of said
line can be accomplished upon such
terms and conditions as viii be for
the best interests Of this company
and,
IL is further resolved that the
Board Of Directors be and they here
by are authorized and empowered to
cause to be executed and issued In
come Bonds Of this Company secured
by a mortgage upon its property and
| franchises, subject only to the pre-
sent First Mortgage Bonds, in such
amount, of such denomination, and
upon such terms and conditions as
said Board Of Directors shall deter
mine, for the purpose Of aiding and
effecting the construction of said ex-
tension or for the other purposes OF
the company.
ELECTION OF OFFICERS.
On motion Of Major Otey themeet
ing then went into the election of
officers.
Mr.. w. G. Houston of Philadelphia
was nominated for President by
Major Otey and was unanimously
elected.
Major Otey was then, on nomina-
ton Of Mr.. Houston, unanimously
elected First vice. President, and Mr..
~. 8. Carr Of Durham N. O., was
elected Second vice President on
nomination Of Mr.. G. II. Nowlin.
4 Fifteen directors were then nomi-
mated and elected as follows: 4. w.
Clark, John B. Lening, Prof. e. j.
Houston, James Butterworth, all Of
Philadelphia; George w. Watts, and
L. A. Carr Of Durham: J. A. Long,
Person county; II. A. Edmondson
and Joseph Stebbins Of Halifax coun-
ty; John Hickson of Campbell; r. L.
Miller, J. B. winfree, G. II. Nowlin,
r. II. 7. Adams, and Max Gugger'
heimer Of Lyncburg.
DIRECTORS MEETING.
i Immediately after the adjourn
, msnt Of the stockholders the new
|, Board Of Directors held meeting.
I President Houston asked for thu
: appointment Of an executive boart
! TO reside in Philadelphia and in con
nection with himself, to have princi
, pal charge Of the affairs Of the com
j pany: whereupon Messrs. Z. w
5 | Clark, John b. Lennig, 4. ]. Hous
0 ton and James Buttsrworth were ap
0 pointed in that capacity.
!, The President also explained tina
0 Il would be necessary for the secre
: tary and treasurer to reside in Phila
!. delphia and presented the name Q
a his brother.in-law, Mr.. +. w. Wi
n liams, for the position, and he wa
v elected. His official bond was fiIe
Q at 500, 900, and that Of the auditor
Mr.. @. G. Dunn, also Of Philadelphia
at $4,000.
BUSINESS or THE ROAD.
: President Oteys report, after sun
! marking the history and operation
. Of the road from It's inception, CAV
! some interesting figures in regard !
\ the business Of the past year, froi
= which we take the following:
= Number Of passengers hauled Il
:. the year, ending May Sist, 67,s2
not one Of whom has been injured.
= Number Of passengers carried OF
mile, 1.4I7,442; average distant
!. travelled by each passenger .
. miles.
Gross earnings from pass
n enger traffic, $50, 2sO.'
!, traffic. sO,7s4.I
=. Mail and Express, $500
10 Total earnings. sl56, $685.
The operating expenses Of the roa
are stated at a little over $4,000 p
month.
!" The earnings for June 1890 WEI
=, in round numbers, $1,000, and I
! May 1891 $4,000, showing an i
(, crease Of 100 per cent.
7. President Houston said that Supt
\. intendent w. N. Mitchell's resign
ton would be accepted and that N
r. Q. Stanard would be appointed
!, al the position Of superintende
pro tenn. Mr.. Stanard Is assistant
the Office Of the Superintendent.