The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-01-20
TO ADD TO IT'S STOCK.
TIE SEABOARD COMPANY ELECTS
A NEW DIRECTORY.

The Ken Who Compose the Board.
The Present Capital stock to Be II
creased to $4,000 The Middle
Georgia and Atlantic to Be Finished
From Eetonton 70 Mac O., a Dis
lance OF Twenty-four Miles, at Once.
The Compsny's Prosp cts.
The Seaboard Company held its annual
meeting yesterday at the conpany's Office,
No. 1877 Bay street. The stockholders met in
the morning. and after two hours confer
ence, the meeting took a recess until
o'clock in the afternoon, the regular time
Of meeting, at which time recess was again
taken until o'clock. The meeting last
night was largely attended and lasted until
nearly - O'Clock.
Besides the Savannah directors and stock
holders there were present Col. e. e.
Machen, Supt w. B. Thomas Of the Middle
Georgia and Atlantic railroad, John Nor
rison Of Eliab ! w. Anderson Of Coying-
ton, c. Il. Crook OF Atlanta a1d others.
Col. GaIrard, president of the Seaboard
Company, read his report upon the condi-
ton of the company showing what had
been accomplished and what the prospects
OF the company are. The report was
accompanied by the reports Of the secretary
and treasurer and of the general manager
The reports were very fiattering and
made fiue showing for the company. The
superintendent's report showed that the
road had been operated for SO per cent. of its
gross receipts. 1t has paid oetterments,
improvements and all expenses out of its
earnings and has money in the bank besides
An election for directors for the ensuing year
was held and the following directors were
elected:
William Garrard,
j. p. Williams,
l. G.. Haas.
William Kehoe, Savannah.
Edward Karow,
II. I. Moore,
b. II. Levy,
w. C. Clark, Covington, Ga.
w. B. Thomas. Atlanta, Ga.
w. E. Baskette, banker, Chattanooga,
Tenn.
Charles Benner, New York.
John Morrison. Ellabell, Ga.
II. =. Stephens, vice president Penn Mu-
tual, Philadelphia.
OF the six out of town directors. Mr..
Clark Of Covington is a banker, Mr..
Thomas ia the superintendent of the Middle
Georgia and Atlantic railroad, Mr.. Baskette
is banker of Chattanooga, Mr.. Benner OF
New York is a lawyer, John Morrison of
Ellabell is well-known turpentine operator
and H. s. Stephens Of Philadelphia is vice
president OF the Penn Mutual Life Insur-
ance Company.
There we're 2, 149 shares OF stock reported
and voted at the meeting. j. w. Ander~
son, editor Of the Covington Star, held the
proxies of the CovIngton stockholders.
A resolution was passed instructinR the
board of directors to proceed at once TO
formulate plan and devise means for COM
plotting the present road from Eatonton to
Machen to Covington, distance of twenty
four miles. This would give the road total
mileage of forty four miles.
1t is proposed to increase the stock by the
amount Of Sl50.000 or more for this pur-
pose.
The meeting was very earnest one, and
the stockholders evidenced their confidence
in the ultimate completion of the road, and
showed a disposition TO increase their sub
scriptions to the stock.
The line from Machen to Covington is al
ready graded, and besides has about $50. 900
worth of crossties and bridge timbers along
the line ready to be used. A branch from
Social Circle TO Covington, to be built after
the completion Of the line to Covington, is
under consideration.
The Covington people are very eager for
the road and are very enthusiastic on the
subject.
A recess was taken until u o'clock noon
Feb. Is, when the meeting will assemble
again,