| Office of the Richmond & Danville
Railroad Company |
| Richmond, Feb'y 12, 1862 |
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| Whereas, The stockholders of
this Company, at their last annual meeting, held on the 11th day of
December, 1861, authorized this Board to use all the corporate means
of the Company now possessed, or which may be conferred on the Company
for the purpose, and also to make any contract or agreement with the
Government of the Confederate States, which may be necessary and
proper for connecting the Railroad of this Company with the North
Carolina Railroad; therefore, |
| Ordered, That the
President of this Company, in conjunction with Mr. John R. Edmunds and
Mr. Thomas T. Giles, counsel of the Company be, and they are hereby
authorized to propose, on behalf of this Company, to the President of
the Confederate States of America, to construct the railroad provided
for by the act of Congress entitled "An act to provide for
connecting the Richmond & Danville and the North Carolina Railroad
for military purposes," approved on 10th day of February, 1862. |
| Ordered, That the
committee, authorized to propose to the President of the confederate
States on behalf of this Company to build the contemplated railroad
connecting this road with the North Carolina Railroad be, and are
hereby instructed, to make the said proposition on the following
terms, viz: |
| 1st. That the said Confederate
States Government shall engage to deliver to the President and
Directors of this Company, to be secured and repaid as hereinafter
provided, the bonds of the said Government for the sum of one million
dollars, or as much thereof as may be required to complete the road,
authorized to be issued for the purpose by the act of Congress,
approved the 10th day of February, 1862, in such sums and at such
times as the committee may deem necessary for carrying on the work as
rapidly as may be. |
| 2d. To pledge the Company to
complete the work as rapidly as it can be done with all the means at
their command, and to devote the bonds for the said sum of money, or
so much thereof as may be necessary and may be furnished to the
Company, for the purpose of completing the said work, and none other.
And if any thereof should be so furnished and remain unexpended on the
completion of the road, to return the same to the treasury of the said
Confederate States. If the bonds for the said sum of one million
dollars should not be sufficient to complete the work, any additional
sum required for that purpose to be furnished by the Company. |
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3d. To secure the repayment of the said bonds, or so much
thereof as may be received by this Company by the bonds of the
Company, secured by a mortgage on the contemplated road, and if they
think it best on the existing road and property of this Company.
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4th. The bonds of this Company, so given to the Confederate
States, to bear such rate of interest as may be agreed on, and to be
made payable as follows, viz: one hundred thousand dollars on or before
the 1st January, 1864, and the like sum of one hundred thousand dollars
on or before the 1st day of January in each and every year thereafter,
until the whole amount of the said bonds received of the Confederate
States are paid off and discharged, or to pay annually or semi-annually
to the Confederate States Government an amount sufficient to discharge
the whole of the said bonds so received, together with the interest
thereon, at the end of ten years, from the 1st day of January, 1864.
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5th. The said road and works to be the property of this
Company, and vested in them in the same way and with the same powers
as they hold and use their present road and works, and the said
Confederate States Government to guarantee such property in an
uninterrupted use of the said road and works to this Company.
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6th. The said road and works to be constructed on such
line and in such way as may be perscribed or approved by the President
of the Confederate States, but the said committee to obtain, if
possible, a stipulation or assurance that the said road shall be
constructed on the most direct eligible route.
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7th. The said committee are to carry out the foregoing
instructions, as far as possible, but are authorized to vary therefrom
in any particulars not essential to the main objects contemplated
thereby, and if any such variations are required; and also to make and
enter into any other stipulations not inconsistent with the said
objects, which may have been omitted herein, and may be required to
render the proposition acceptable to the President of the Confederate
States, or necessary to have the proposition concurred in by the said
President.
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These propositions and instructions were duly adopted.
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