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{From the minutes of the
Directors' Meeting of the Richmond, Fredericksburg & Potomac RR,
July 28, 1863} |
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| The President reported to the Board, that
under the authority of a resolution adopted June 27th 1863, he had
sold the Bonds of the Confederate States indicated thereon, the amount
realized from which was $72,500, which with the addition of
collections made from the Government for transportation, had enabled
him to pay off the whole amount of the Certificates of Debt of the
Company held by the State of Virginia viz $83,936 of 6 pr cent and
$38,528 of 7 pr cent Certificates, in all $122,464. |
| He had also by authority of a resolutions
adopted on the 20th inst bid for $20,000 of the 6 pr cent Cotton Loan
of the Government at a premium of one hundred per cent, which bid had
been accepted by the Secretary of the Treasury. |
| The President submitted to the Board a
copy of a joint bond which is hereto appended in which the Va Central,
Petersburg, Seaboard & Roanoke & Va & Tenn RR Companies
propose to unite with this Company, as a means most likely to ensure a
successful negotiation in England for funds with which to procure
supplies which were indispensable to the maintenance of the business
of the Companies, which funds they had failed thus far to secure by
other methods, and asked the authority of the Board to obligate this
Company under its provisions, whereupon the following resolution was
unanimously adopted. Resolved that the President & Treasurer be
and are hereby authorized and instructed on behalf of this Company to
execute the Joint and several bonds of this and other Railroad
Companies associated in importing Rail road supplies payable on the
1st day of July 1868 at the option of the holders in Cotton at the
value of 6 Sterling with interest at the rate of 7 pr cent per annum
payable semi-annually in English Sterling funds to an amount of bonds
in which this Company shall be principal obligator not exceeding
$15,000 and to a further amount of bonds on which this Company shall
be a surety not exceeding $85,000, and to affix to such bonds the
Corporate Seal of this Company. |
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