The Durham daily globe. (Durham, N.C.) 1889-1894, 1892-03-16
The Lynchburg and Durham Road
Officially Goes Out.
The New Company Authorized to Build
Extensions and Go at 1t.
AN OPTION FOR ALMOST / 900 YEARS
A Full Report of the Meeting with Reso
Lynchburg News of To-day.

OF the LynchOurg and Durham RallrOad
company was held, pursuant to legal
call, in the office of the company in this
city yesterday.
The meeting was called to order at
1890 p. m. by the president, Mr.. W. G.
Houston, on whose motion Col. FL. d.
Edmondson, of Halifax, was appointed
chairman and Alex Mcdonald secretary.
Messrs r. III. T. Adams and Robert
w. Watkins were appointed commit
tee on proxies, and reported present in
person or by proxy 1902 shares out of
a possible 1884 The meeting was then
declared ready for business.
The chairman stated that certain par
ties representing the Lynchburg and
Durham Railroad company, the Norfolk
and Western Railroad company and the
Penn Construction company, which is
the owner of the trst mortgage bonds
of the Lynchburg and Durham Railroad
company, and of a controlling interest
in the stock of said company, have been
for some time negotiating an arrange
ment betweent said companies, under
which the Lynchburg and Durham rail-
,hon rf..lI- n
Western Railroad company until March
1, 1898, with an optiou to said Norfolk
and Western railroad to continue the
said lease for an additional perion of 900
years, or to purchase from the Penn
Construction company the said first
mortgage bonds; either of said options,
however, to de exercised before March
1, '93 In the event of either option be-
| ing exercised, the stock of the Lynch
burg and Durham Railroad company
owned by the Penn Construction com,
pany is to be transferred to the Norfolk
and Western Railroad company.
Mhe chairman further stated that an
agreement had been prepared and duly
executed, acknowled and delivered by
the president and secretary of the com
pany and five of the directors and mem
bers and that the same had been pre-.
sented to the meeting of the directors
held at the office of the company in the
oily of Lynohburg on the first day OF
February, 1892, anu authorized, ratified
approve! and confirmed. Said contract
was presented by the chairman and al
his request read in full by Mr.. A. G
Denniston, Of Philadelphia, whereupOr
Mr.. \. w. Nowlin offered resolution
which was unanimously adopted, ap
proving the agreement between the com
panies named, and authorizing and en-
powering the president of the Lynchburg
| anu DuTndm 10 10 VI cause W oc uoAC
from time to time. anything which may
be necessary to carry the arrangements
into effect.
The amended charter of the Lynch
burg and Durham company was ther
read by Capt. r. H. T. Adams, and OF
his motion the following resolution wa
iadopted:
Resolved, That this company has &C
Icepted and does hereby accept the pro
visions of the general assembly of Nir
ginia approved February 16, 1892, entitled
an act authorizing the Lynchburg ant
Durham Railroad company and certain
other railroad companies to make AM
carry out contracts for the sale of tn
railroad property and purchase OF tn
lLynchburg and Durham Railroad com
pany, and the board of directors Of thi
company is hereby fully authorized an
empowered in the name and on behalf o
this company to accept any and all legis
lation of similar character that may b
enacted by The legislature of North Caro-
lima relating this company.
Also the following offered by Nj
Adams was adopted:
Resolved, That the board Of director
qe and it is hereby authorized and EN-
powered TO exercise from time to time a
the powers possessed by the stockholder
in regard II the location and sonstructio
of branch railroads and lateral works.
On motion the meeting then adjourned
A veritable family medicine box, Bee
CHAINS Pills.