NP, CW 8/29A/1864

From the Carolina Watchman (Salisbury, N. C.)
 
August 29, 1864
  
   The Annual Meeting of the Western N. C. R. R. Company was held in Statesville on the 25th instant. We learn from the Report of the Treasurer, that the receipts from all sources amounts to $371,011.74, which is nearly treble that of last year; of which $230,574.10 has been paid out on account of repairs, supplies and operating Road. After all disbursements the Treasurer holds an available balance in cash and as dues from various sources $77,000, which with the earnings until September, will enable the Board to declare a dividend, and pay off all claims against the Road including the Confederate Tax.
   There was no important business transacted at this meeting with the exception of the election of 4 Directors, viz: J. A. Hunt, Jonas Cline, ---- Malone, and John McDowell. At a meeting of the Board after the adjournment of the Stockholders meeting, Mr. Powell was reelected President of the company. All the officers were retained in their several places.
   The following resolution, introduced by Walter P. Caldwell, Esq., called forth a number of speeches from stockholders, who with undivided voice denounced the Southern Express Co., and urged that the RR Co. should immediately discontinue all connection with it.
   Whereas, It is the opinion of the Stockholders of the W. N. C. R. R. Company that it is injurious to their interest to farm out any of the property or franchise of their Company, to an independent Company, and believing the R. R. Company can transport all articles over the road with as much safety and dispatch as the Express Company and believing that all profits of transportation ought to be made by the R. R. Company;
   Resolved, That the Board of Directors are instructed to terminate their contract with the Southern Express Company after giving due notice and that they confer with the North Carolina R. R. with the view to make such combined arrangements with said road as to insure to all persons safe and expeditious transportation of their property, money and effects, over the road under the charge and management of their own agents and messengers.

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