|
{From the minutes of the
Directors' Meeting of the Richmond & Danville RR, May 8, 1862} |
| |
| Office of the Richmond & Danville RR Co. |
| Thursday 8th May 1862 |
| A called meeting was held this day. |
| Present Lewis E. Harvie president V.
Witcher, J. R. Edmunds & Wm Palmer |
| On Motion of John R Edmunds Esq the
following preamble and resolution was adopted. |
| Whereas: The President of the R&D RR
Company having communicated to the Board of Directors that the contract
with the company to loan this company one million of dollars in bonds
converted into Treasury notes cannot be complied with by the authorities
of the Confederate government, therefore |
| Resolved: |
| That the president be authorized to modify
the contract so as to receive Treasury notes to the amount of $76,500 to
meet the 5 pr cent on the stock subscribed and the residue thereof in
the Bonds authorized by law |
| Provided, that the bonds of this Company
to be executed to the Confederate Government for the payment of the
loan, shall not bear interest until at least eighteen months after the
completion of the Piedmont railroad and said road "actually in
operation" |
| Adjourned to wait on the Confederate
authorities |
|
Evening Session |
| The President submitted the following
modification of the contract which was adopted by the Board. |
| War Department May 8th 1862 |
| "The contract bearing date May 6th 1862
between the Richmond & Danville Railroad Compy and the War department is
modified in the following particulars. The loan shall be in bonds of the
Confederate States in the usual form and shall not bear interest until
eighteen months after the road is completed and in operation at rate of
interest paid by the Company shall be the same ??? that born by the
bonds. |
| Geo W. Randolph |
| Sec of War |
| Adjourned, to meet in Greensboro in North Carolina the
day after the meeting of the stockholders of the Richmond & Danville Co. |