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Election of Officers
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| On motion of G. A. Myers, Esq., P. V.
Daniel, Jr., was unanimously re-elected President. Messrs. G. W.
Munford, Dr. Chas. S. Mills, Dr. R. W. Haxall, and G. A. Myers, were
unanimously re-elected Directors by the individual Stockholders, and
Mr. Wirt Robinson announced as the Director on the part of the
Commonwealth. |
| The following gentlemen were unanimously
elected to constitute the committee of examination, under the
resolutions adopted at the meeting of Stockholders, in 1837: Dr. Thos.
B., Anderson, Wirt Robinson, Ed. T. Morris, James Hunter, and J. A.
Robinson. |
| Mr. Ed. T. Morris stated to the meeting
that, while the enormous advance in the cost of all the necessaries of
life during the past year, had made it necessary and proper for the
Board of Directors to increase the compensation of all the other
officers and employees of the road; the salary of the President, alone
remained unchanged, the Board having no authority to increase it. He
thought it but just, for the same reason, that the salary of that
officer should be increased. It would, also, be a fitting tribute to
his fidelity, efficiency and industry. He, therefore, offered the
following resolution, which was unanimously adopted: |
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| Resolved, That until the further order of the
Stockholders, the salary of the President be increased from three to
four thousand dollars, to take effect from the first day of October,
1862. |
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| Mr. G. A. Myers offered the following resolution in
response to the recommendation of the Board of Directors, in relation
to the salary of the Treasurer, which was unanimously adopted: |
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| Resolved, That until the further instruction of the
Stockholders, the salary of the Treasurer of the Company be increased
from $2,500 to $3,000 per annum, commencing from the first day of
April, 1863. |
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| Mr. Ed. T. Morris offered the following: |
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| Resolved, In view of the present uncertain state of the
country, and the precarious character of the present trade and travel
of the company, that it be recommended to the Board of Directors,
until further instruction of the Stockholders, to declare only
moderate dividends, (whenever they are enabled to declare any) and to
lay aside as large a fund as necessary to meet future contingencies. |
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| A scale vote being called, the resolution was adopted
by the following vote: Ayes,
2,751. Noes, 823. |
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| On motion of Mr. G. A. Myers, |
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| Resolved, That the President and Board of Directors
take such measures in regard to publishing their report and the
proceedings of this meeting, as shall seem to them expedient. |
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| On motion, |
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| Resolved, That the meeting be adjourned sine die. |
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| Wm. H. Haxall, |
| Chairman |
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| J. B. Winston, Secretary |
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