The times. [volume] (Richmond, Va.) 1890-1903, 1894-10-03
soUTHEhN KdiLWAr MEETING.
A Short Session in which Much Business
T. Transacted

The stockholders meeting Of the South
ern railway. which was held yesterday
in The Times building, was a business
affair all the way through.
The work o. be done was cut out be
fOrehdud. and large amount OF bust
ness was disposed OF in short order.
Those present. Samuel, Spencer presi-
dehi, 4. II. tustcr, chairman of the Ea-
organization Committee; Colonel \. b.
Andrews, second president, ". \.
G. Even, secretary, and Francis Lindc
StetSon, general counsel of the Southern
Railway Company.
They arrived from the North at $40
a. NJ and came directly 10 the general
Offices of the company iu The Times
building, where they al once proceedt "A
10 business. They We're IN private session
only few hours, and finished up their
business before noon ana returned TO
New York 10y the train leaving Richmond
at u o'clock.
The following official statement Of the
proceedings OF the meeting was given to
the press:
The stockholders and the directors Of
the Southern Railway Company. I'm pur-
suance OF the plan Of reorganization,
unanimously authorized, and the prcsl-
dent and secretary executed the two
mortgages specified IN the notice of the
meeting Of the stockholders. namely. The
East Tennessee reorganization mortgage
for N69pn and the first consolidated
mortgage Tor $luolOpJ.
THE annual meeting Of the company
VIII be held In the city Of Richmond
on Tuesday October .. 1894 at $3.50
Al the stock of the road was repre-
scented at the meeting, to-wit: 500 900 900
of common stock and $0OJQ.0o0 of pre-
ferred stock.
OF the A4. 100000 Of bonds to be issued
SS.0NN .3l2 l3 Is reserved To take up the
outstanding bonds, stocks. etc, as pro-
Nlded for in the plan of reorganization:
&aVVWJ Is reserved for new construction
on and after January T. 1896 moi over
he
81 3ll 81 is % be ISSUED now, including
%.p1Hp for new construction.
President Spencer was seen by tie
newspaper men present as soon as the
meeting Adjourned and chatted pleas
antly about the status of the COMPANY
lie said, In answer To inquiry about the
%VvWp Tor new construction, that IL
would be expended as needed, he could
not say anything about a new depot
building In Richmond; he knew 81 no
present plan for changing the deep-water |
terminus OF Tie road from West Point 10 /
Newport News; there would be no closer |
the arrangement with the Chesapeake /
and ONO than that now existing; the |
general Offices OF the road would remain |
in Washington for the present.
As 20 the bearing OF the Southern Rail |
way Company on the future development /
OF the South, Mr.. Spencer said that there
was some Misrepresentation 1t was
ms property had fallen into the hands
OF men who put II on It's feet and made
the company could not do this if II would
40 whdt II could to develop it's property.
e e,ut ~ Was "A mistake 10 suppose that the
SOutneih Railay Company was going in |
lor me special development of other in
:, ustrles IN the South. Indeed. ne added
ihe company could not do this II il would |
IL Is now = solvent Corporation. but n is
hot opulent IL viii be able 10 pay the
interest," on lts bonds. all It's operating
sApenses; and carry something 10 the
surplus iuhd But there win be nothing !
as yet FOR the stOckhOllers evcenf thc |
,nhaneed value Of their property, The
southern Railway Company viii have ali
I can do 10 take care OF It's own "a ffafyS
But this Il will do. and II the Sn,,,t In
Be as energetic and progressive as This
,,ompany proposes 10 be the South will
10 well and prosper. "''