The Savannah morning news. (Savannah, Ga.) 1900-current, 1902-02-15
MEETING OF SOUTHWESTERN.
Officers and Directors Were Re-
elected at Macon.

eIeCteu AT Macon.
The annual meeting of the stockhold-
ers of the Southwestern Railroad was
held in Macon day before yesterday,
and Messrs. ]. F. Minis and Malcolm
Maclean returned yesterday morning
to Savannah. The same board of direc-
tors and the same officers were re-
elected. The rental of the railroad re-
ceived from the Central, the lessee,
was appropriated to dividends among
stockholders.
Maj. J. F. Hanson of Macon pre-
sided over the meeting, President W
G. Raoul not being able to attend Mr..
W. r. Cox of Macon presided over
the directors meeting.
The following is the board of direc-
tors as it now stands:
President-W. G.. Raoul
Vice President-W. r. Cox
Secretary and Treasurer-John NJ.
Walker.
Directors-W. r. Cox, R. H. Brown.
j. M. Johnston, T. B. Gresham, r. T.
Wilson, j. F. Minis, Malcolm Maclean.
President RaouPs annual report was
read and adopted as follows:
To the Stockholders: Your board of
directors respectfully presents herewith
the annual statement of the affairs of
your company and its present financial
status which will be found in the bal
ance sheet from the company's books
and in the statement of receipts and
disbursements of the treasurer. Those
statements have been examined by a
committee of your board and found to
be correct and all disbursements prop
erly supported by vouchers.
In the last annual report for the year
andincr Eah 1901 Ottr laf YoraGidont
Mr.. B. A. Denmark, made a full and
clear statement of the character of the
suit brought against your company by
one r. NJ. Farrar, seeking to enforce
distribution of the sum which your
board believed advisable to set aside
as a reserve fund to meet possible flu
ture emergencies of the company: and
questioning the legality of the use and
distribution of the funds received from
the Central of Georgia Railway Com
pany as compensation for the lease to
it. of your property. The history of
the, case since that date and it's pres
ent status will be found in the letter
of the company's counsel reporting
upon the litigation and which is
printed herewith. 1t is needless to say
that the reserve fund which your
board has set aside Is subject to your
Will and may be disposed of as a ma
jority of you in convention
may decide. In view. however
of the narrow margin by
which your company escaped the
total loss of all it's property in the lit
igation in which it was involved
through the bankruptcy of the Central
Railroad and Banking Company of
Georgia by having to face that serious
struggle without dollar at its com
mand for defense, your board does not
doubt that it's continued use as a safe
guard against a future calamity, will
meet your approval. 1t should also be
remembered that this reserve gives
additional strength and support to the
market price of your stock
II has pleased Providence to take
from us our friend and president.
Brantley A. Denmark. who died at his
home In Savannah. Georgia. on the 18th
day OF June of last year. In the death
OF MIR. Denmark your company has
suffered a great loss burt so also has
suffered the state and the community
In which he lived as II always must
through the taking away OF a noble
and useful life.