Proceedings of the stockholders of the North Carolina Rail Road Company |
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f ^ Library OF THE University of NortK Carolina This book was presenteti by Members of the family of the late COL. A. B. ANDREWS >.- This bookmust not be taken from the Library building. ^o > J>& PROCEEDINGS OF THE STOCKHOLDERS OF THB North Carolina Railroad Co., AT THEIR TWENTT-EISHTH ANNUAL MEETINS, HELD AT SALISBURY, JULY 12th, 1877. RALEIGH: THB RALEIGH NEWS STEAM JOB PRINT. 1877. PROCEEDINGS. Salisbury, N. C, July 12th, 1877. The Stockholders of the North Carolina Railroad Com-pany convened in the Court House this day at 11 A. M. to hold their twenty-eighth annual meeting. On motion of Col. W. R. Myers, of Charlotte, a tem-porary organization was effected by calling Mr. A. H. Boyden, of Salisbury, to the chair, and by requesting J. A. McCauley to act as Secretary and Mr. J. J. Bruner as Assistant Secretary. The committee on proxies reported as follows: The number of stockholders represented in person 14, by proxy 420 ; whole number of shares owned by individuals 10,000 ; whole number of shares represented in person 838, and by proxy 7,955. Total number of shares repre-sented 8,793. The Chair announced that there was a large majority of the individual stock represented, and therefore the meeting wes organized in accordance with the charter and by-laws. On motion of Col. W. R. Myers the temporary organ-ization was made permanent. Col. J. A. Gilmer presented his credentials as State proxy which were received. The President read his annual report. On motion of Mr. N. H. D. Wilson, the reading of the Secretary and Treasurer's reports was dispensed with. 4 PROCEEDINGS OF THE STOCKHOLDERS Mr. D. A. Davis, Chairman of the Finance Committee, read the report of said committee. On motion of Mr. Mnrdock, of Salisbury, the reports of all the officers were referred to a committee of four to be appointed b}^ the chair. The Chair appointed Messrs. W. J. Yates, Wm. Mur-dock, J. T. Morehead and H. W. Fries. Mr. L. "W. Barringer offered the following preamble and resolution, viz: Whereas, Owing to the great depreciation of railroad securities; and whereas, under the lease of the N'orth Carolina Railroad to the Richmond and Danville Rail-road the lessee 'deposited as collateral for the fulfilment of the covenant large amount of bonds ; now therefore, Be it resolved, That a committee of three stockholders be appointed to examine the same and report, 1st. If the bonds are now worth $150,000 in cash. 2d. If they are marketable securities. 3d. What bonds are deposited, and 4th. And that the committee report to the stoc"kholders by circular in one month. And also that the same commit-tee report what security the Richmond and Danville Railroad gave for keeping the road in repair, and wdiat is the nature of the bond, and who are the sureties. Mr. R. Y. McAden offered the following resolution as a substitute to Mr. Barringer's preamble and resolution which was adopted, viz: Resolved, That the Board of Directors be requested to examine carefully into the collaterals deposited by the Richmond and Danville Railroad Company to protect the lease and to report to the Stockholders in a circular within thirty days: 1st. What these collaterals consist of. NORTH CAROLINA RAILROAD CO. 2d. Giving full description of same. 3rd. Reporting market value of same, and 4th. Whether or not the col-laterals are sufficient according to the terms of the lease. Should the collaterals be insufficient the Directors are re-quested and required to at once notify the lessee to make good the'collaterals according to the terms of the lease. That the Directors enquire as to the bond given ac-cording to the terms of the lease to keep up the road, &c., and report fully in the circular the obligors on the bond and as to its solvency. Mr. J. T. Morehead on the part of the committee ap-pointed to examine the reports of the officers, presented the following report which was adopted, viz: The committee to whom were referred the reports of present officers of the Compan}^ and Finance Committee respectfully report: That the limited time allowed the committee render it impossible for them to do more than glance over the printed information turnished, and so far as they can judge they have no reason to doubt their correctness, and suggest that they be approved. In regard to the suggestions of the President as to cer-tain debts due the Company being charged to the account of profit and loss, we recommend that the Finance Com-mittee be empowered at their discretion to carry into effect the recommendation of the President. Your Committee heartily approve the recommendation of the Finance Committee made to the Trustee, viz : That great caution be exercised in loaning the funds in his charge to individuals on collateral or mortgage. W. J. Yates. Salisbury, July 12th, 1877. H. W. Fries, Wm. Murdock, J. Turner Morehead. 6 PROCEEDINGS OF THE STOCKHOLDERS Mr. J. T. Morehead offered the following resolution, which was adopted, viz : Mesolved, That it shall be the duty of the Secretary and Treasurer annually to prepare and deliver to the Directors five days before the regular annual meetings of the Com-pany in addition to the usual published statements a full and complete itemized statement of the receipts and ex-penditures of the Company, and also an itemized sched-ule of the assets of the company, which statement shall be produced by the Directors during the meeting of the stockholders for reference and inspection. On motion the meeting proceeded to the election of four Directors on the part of the individual stockholders. The chair appointed Mr. J. H. Welbourn and Mr. J. A. Hedrick tellers. The tellers reported the following as the result of the balloting, viz : Mr. H. W. Fries, 8788 ; Mr. M. L. Holmes, 8657; Col. T. M. Holt, 8646; and Dr. R. B. Haywood, 8406 ; scattering, 371. The chair announced that Messrs. H. W. Fries, M. L. Holmes, T. M. Holt and R. B. Haywood were duly elected. Mr. R. Y. McAden offered the following resolution, which was unanimously adopted, viz : Resolved., That the stockholders of the North Carolina Railroad Compan}^ with pleasure learn from the reports of the officers the good condition of the roadbed and machinery, the condition of the same appearing sufficient for any reasonable speed. Resolved, That the stockholders respectfully recom-mend to the Post Office Department this line for the fast mail service, it being the shortest and most direct line between New York and New Orleans, and in other re-spects the equal if not superior to any other line. WRTH CAROLINA RAILROAD CO. 7 Resolved., That the Secretary of this Company be re-quired to send a copy of the foregoin,^ resolutions to the Post Office Department at Washington City. On motion Messrs. John L, Brown, Peter Adams and F. C. Robbins were elected on the Committee of Finance. Col. W. R. Myers offered the following resolution, which was adopted : Resolved^ That the managers of the Richmond & Dan-ville and North Carolina Railroad Companies are en-titled to the thanks of this convention for the accom-modations afforded the stockholders in attendance in this convention in the way of transportation, &c. Mr. W. J. Yates offered the following resolution, which was adopted : Resolved^ That the thanks of this meeting be tendered to the Chairman and Secretaries for the efficient and satisfactory manner in which they have discharged their duties. On motion of Mr. D. A. Davis the chair appointed the following gentlemen a committee to verify proxies for the next annual meeting, to be held at Hillsboro, N. C, viz : Messrs. P. B. Ruffin, James Webb, Jr., and J. U. Kirkland. On motion the meeting adjourned. A. H. BOYDEN, Chairman. J. A. McCaulbt, Secretary. J. J. Bruner, Asst. Secretary. REPORT OF THE BOARD OF DIRECTORS. Office North Carolina Railroad Company, Company Shops, N. C, June 15th, 1877. Ill compliance with the requirement of the charter, the Board of Directors have the honor to submit the follow-ing reports, showing the business of the Company for the fiscal year ending May 31st, 1877. The report of the President with the accompanying tables show the condition of the Road in full. 10 PROCEEDINGS OF THE STOCKHOLDERS PRESIDENT'S REPORT. President's Office^ N. C. R. R. Company, Company Shops, N. C, June 15th, 1877. To the Board of Directors : Gentlemen:— I submit to you, and through you to the stockholders of the North Carolina Railroad Compa-ny, the following reports of the receipts, expenditures and debts of the Company up to the end ef the tiscal year end- May 31, 1877. Receipts from all sources $273,637 54 Expenses for the year, 85,290 34 Paid in settlement of old claims and ex- ^ penses of Board of Directors and Fi- > 2,602 81 nance Committee. J Paid interest on debt 33,216 20 —41,109 35 Leaving a balance of $232,528 19 Out of the above balance we have paid dividends to the amount of 120,781 00 Leaving still a balance of $111,747 19 Which has been applied to the Sinking Fund and other purposes, fully shown in detail in the report of the Treasurer. DEBT OF THE COMPANY. The total debt of the Company reported at the last Annual meeting was $433,295 72 The- debt of the Company now is $513,681 11 From which deduct amount of assets, 292,536 99 And we have the actual debt of the Com-pany $221,144 12 Of the above $292,536 99, assets $48,509 88 is cash deposited with NORTH CAROLINA RAILROAD CO, 11 Banks and Bankers, and cash items; anu $191,019 70 is cash in the hands of the Trustee for the redemption of mortgage bonds. The remainder amounting to $53,007.41, consisting of old accounts atrainst individuals, other companies and the State of North Carolina, as shown in the Secretary's ex-hibit, may be considered as worthless, except probably the amount of $1,000, which maybe collected from the whole list. These accounts known to be worthless, ought to be charged to profit and loss, so as not to appe&r as assets from year to year. You will see that the debtof the coinpany ismore now than one year ago, which v,'as caused by a dividend be-ing declared, three per cent, of which is not yet due, but is reported as a debt against the company. MORTGAGE. Amount of bonds issued under the mortgage, $790,000 00 Cash and bonds paid into the sinking fund, 605,519 70 SINKING FUND. The company has paid during the year to Rev. N. H. D. Wilson, trustee, $93,734 44 OLD DEBT. The amount of the loan of 1857, outstanding at your last annual meeting has been paid during the year. REMARKS. According to the ierms of the lease made with the Richmond & Danville Railroad Company, September 11th, 1871, the road bed, rolling stock, bridges, buildings and all property belonging to this company is required 12 PROCEEDINGS OF THE STOCKHOLDERS to be examined by two experts in October of each year, one selected by this company, and one by the Richmond & Danville Railroad Company, and report to the Board of Directors of this company whether the property is in all respects in as good condition as when the lease was made. Mr. William Murdock, of Salisbur}'^, was selected on the part of the North Carolina Railroad Company, and Col. T. J. Sumner, of Salisbury, on the part of the Richmond & Danville Railroad Company. They went over the entire length of the road and made the neces-sary examination as required by the lease, and reported to the Board of Directors of this Company on the 23d day of October, 1876, which is as follows, viz : Company Shops, N. C, October 23d, 1876. To the President and Board of Directors of the North Caro-lina Railroad Company, and the Richmond ^ Danville Railroad Company: Gentlemen:—We have inspected the property of the North Carolina Railroad Company leased to the Rich-mond & Danville Railroad Company, and submit the fol-lowing report : ROAD BED. Considerable improvement has been made upon the roail bed. It is more thoroughl}' ditched than heretofore, and the ballasting has been well maintained, while par-ticular attention has been given to moving the dirt and rubbish from the ends of the cross ties, thus improving the drainage, general appearance and stabilityof the road NORTH CAROLINA RAILROAD CO. 13 bed. We were pleased to see that some attention had beei. bestowed upon the ri^^ht of way, in cleaning it of trees and bushes, thus increasing the security of the trains while improving the appearance of the property. CROSS TIES. The timber in the track is generally sound, a suffi-ciency of ties having been put in during the year to sup-ply all decay. TRACK. « The general surfacing and alignment of track have been improved by the good condition of the road bed, and by the constant effort of officers and employees in making the best use of all available means for this pur-pose, but in our opinion, it will require twelve hun-dred and fifty (1250) tons of 56 lbs. T rails during the next year to replace worn rails. BRIDGES. The bridges are in good condition. A New Howe Truss Bridge at South Potts Creek, replaces the Lattice bridge former]}' there. The new bridges have not been covered, but we are informed the material is ordered for that purpose. BUILDINGS. The buildings generally are in fair order, only a few minor repairs being required. The dwellings at the Com-pany Shops have been improved. We would rqspectfully 14 PROCEEDINGS OF THE STOCKHOLDERS suggest the propriety of selling these dwellings and lots to the employees. The companies would be relieved of troublesome and combustible property and the employees who purchase would become permanently located and more deeply identified with the interests and success of the Company. WATER AND WOOD. The supply of these are sufficient. PASSENGER AND FREIGHT CARS. The passenger and freight equipment have been in-creased and improved. One passenger car built at Com-pany Shops; 30 box and 16 flats added; new standard draw bars put upon 58 cars ; 4 box, 11 flats and 8 shanty cars were condemned and destroyed during the year. The number of cars has therefore been increased by 26 box and 5 fiats, the shanty cars decreased by 8. MOTIVE POWER. The locomotives are in better order than last year, two new boilers having been added. They number one less than last year. One was condemned as unfit for service. MATERIAL. The supply of material in store is less than last year. This material last year was composed largely of wheels and axles, which have since been applied to the construc-tion of cars. All of which is most respectfully submitted. WILLIAM MURDOCK. T. J. SUMNER. mRTH CAROLINA RAILROAD CO. 15 From which report 3'OU will observe that the road bed, bridges, buildings, track, rolling stock, &c., are equal to and in as good condition as when leased, except the item of iron. They r^^port that it will require twelve hundred anri fifty tons of 56 pound Trails to go in the track by Oc-tober next. The Richmond and Danville Railroad Com-pany has already put a portion of the iron in the track and the president of said company in reply to a notice served on him by this company, has assured the board of directors that the amount of iron required shall be furnished within the time specified. The securities deposited by the Richmond and Dan-ville Railroad Company are considered amply sufficient to cover any deficiency which may arise. The last Legis-lature appointed a committee to examine into the secu-rities deposited with this company by the Richmond and Danville Railroad Company and report to the General Assembly, whether the cash market value of the securities were equal to the amount required by the lease. I was summoned before said committee and gave them a mem-orandum of said securities which was considered by them amply sufficient. At your annual meeting of the stockholders in 1875, a resolution was adopted authorizing the board of directors to purchase bonds issued by the State for the purpose of building the road, and known as construction bonds, I have to report the board of directors have not as yet purchased any of said bonds. All of which is respectfully submitted, THOS. M. HOLT, President. 16 PROCEEDINGS OF THE STOCKHOLDERS TREASURER'S REPORT. Treasurer's Office, IST, C. Railroad Co. Company Shops, N. C, June 14th, 1877. To the Stockholders of the N. C. R. R. Company : Gentlemen: I here\\'ith submit to you the annual re-port of the financial condition of the North Carolina Railroad Company for the fiscal year ending the 31st day of May. 1877. RECEIPTS AND DISBURSEMENTS. During the fiscal year the receipts from all sources have been ^269,417 15, and the amount paid out on ex-penses, bonds and other liabilities of the company $287,- 888 70, which will be fully set forth in the accompanying tables. FINANCIAL CONDITION NOW AND ONE YEAR AGO. The debt of the company reported and entered on the books of the company on the 31st day of May 1876, as shown by the books of the Secretary, was $438,295 72, to which add $34,317 45 of old debts not reported and en-tered on the books of the company, but which have been paid during the year. Wo have the total debt on the 31st day of May 1876, $467,613 17, to which add $240,000 00 a dividend of six per cent, declared on the capitol stock NORTH CAROLINA RAILROAD CO. 17 of the company by the board of directors, January 11th, 1877, and we have the debt of the company $707,613 17 of which amount there has been paid during the year, $193,932 06, leaving the debt of the company as shown by the books of the Secretary on the 81st day of May, 1877, $513,681 11, which amount may be reduced by assets $292,536 99, leaving a balance to be paid of $221,- 144 12. The general exhibits of the business of the company for the fiscal year shows an increase of the debt ofthe com-pany of $80,385 39, which is caused by the declaring of a dividend, three per cent, of which is uot due until Sep-tember 1st 1877. The total bonded debt of the company under mortgage is $375,500 00 of which $165,500 00 is in ten year bonds and $210,000 00 is in twenty year bonds. $38,000 00 the remainder of the loan of March 1st, 1857, has been paid during the fiscal year. Respectfully submitted, J. A. McCAULEY, Treasurer. 18 PROCEEDINGS OF THE STOCKHOLDERS J. A. McCauley in Account -with the N. O. R. R. Co., RECEIPTS. From Rents " Real Estate •' Interest, Premiums and Discounts " United States Tax Collected..., *•' Certificates issued Dividend No. 9 '' Individuals " Bills receivable " Lease North Carolina Railrokad and Cash Items on hand and with Banks and Bankers June 1st, 1876 Cash 776 02 648 25 7,156 81 5 70 42 00 39 37 749 00 260,000 00 66,981 43 $336,398 58 Commencing June 1st, 1876, and ending May 31st, 1877. DISBURSEMENTS. Legal Expenses Salaries Advertising and Stationery Traveling expenses and other incidentals Dividends N. H. D.Wilson, Trustee Interest on Coupon Bonds Loss and Damage Taxes paid Dividend Scrip Loan of March 1st, 1857 Other debts paid Pay Rolls (old) Interest and Premiums Cash and Cash Items on hand and with Banks and Bankers, May 31st, 1877 1,739 25 3,000 00 498 34 1,501 56 120,781 00 88,714 74 32,360 00 1,101 25 52 75 42 00 38,000 00 28 61 20 00 49 20 48,509 88 $336,398 58 20 PROCEEDINGS OF THE STOCKHOLDERS Statement showing Receipts and Expenditures of the N. O, BECEIPTS. From Lease of North Carolina Railroad... " Interest " Rents " Real Estate. 1260,000 00 12,183 51 $272,183 51 805 78 648 25 J73,637 54 NORTH CAROLINA RAILROAD CO. 21 R. R. Company for the Fiscal year ending May 31st, 1877. EXPENDITURES. Traveling expenses and other incidentals Loss and Damage Advertising and Stationery Salaries Legal Expenses Interest, Premiums and Discounts Tax Account Balance receipts more than expenses $1,501 22 PROCEEDINGS OF THE STOCKHOLDERS Exhibits of the North Carolina Railroad Company Amount of Assets on hand at the com mencement of this fiscal year as shown by report May 31st, 1876 Amount from sale Real Estate Amount of 1st payment Dividend No. 15 on stock owned by the North Carolina Railroad Company, passed to profit and loss Amount from Rent account , " " Interest " " Lease of the N. C. R, R, Company's debt increased., 6219,038 41 648 25 805 78 12,183 51 260,000 00 219,686 66 585 GO 272,989 29 80,385 39 )73,646 34 NORTH CAROLINA RAILROAD CO. 28 for the Fiscal year ending May 31st, 1877. DISBUESEMENTS. Amount Expenses for the year (old).. K " " " " (new). Amount of Dividend No. 15 declared January 11th, 1S77. 3 per cent pay-able March 1st, 1877. and 3 per cent, payable September 1st, 1877 ASSETS. Amount due from Station Agents Other Companies Cash on hand. Individuals Freight Exchanges United States State Xorth Carolina. Bills Receivable Supplies N. H. D. Wilson, Trustee 34,317 45 6,791 90 11,11G 12 U75 424 210 11.683 3,171 5.963 191,019 48,509 41,109 35 240,000 00 -292,536 99 1573,646 34 J. A. McCAULEY, Secretary. 24 PROCEEDINGS OF THE STOCKHOLDERS Statement Sho"wing the Financial Condition of the N. O. PROPERTY AND RESOURCES. Cost of Construction, Equipment and Keal Estate Amount Sinking Fund (old) " Chatham Railroad stock " North Carolina Railroad stock " Northwestern N. C. R. R. stock Amount due from Station Agents " " Other Companies.., " " Individuals " " Freight Exchanges. " " United States " " State North Carolina *' " Bills Receivable... " " N. H. D. Wilson, Trustee Amount of Supplies " Cash on hand 204,000 00 74,700 00 19,500 00 20,000 00 11,116 47 8,363 33 12,075 25 424 12 210 48 11,683 09 3,171 Ob 191,019 70 5,963 12 48,509 88 4,934,136 47 318,200 00 292,536 99 5,544,873 46 NORTH CAROLINA RAILROAD CO. 25 R. R. Company for the Fiscal year ending May 31st, 1877. CAPITAL STOCK AND LIABILITIES. Capital Stock Interest due on loan of 8 per cent., due March 1st, 1867 Amount of 8 per cent. Mortgage Bonds due November, 1877 Interest due on same Amount of 8 per cent. Mortgage Bonds due November, 1888 Interest due on same...- , Dividend certificates fundable in twenty year S per cent. Mortgage Bonds Dividend No. 9 balance payable in twenty year 8 per cent Mortgage Bonds Amount due on Dividend No. 1 " 10.......'.' «< << II 11 12.'.".'.'.'!.'." " " 13 " << " 14 15.;!;;!.'.' Amount due Other Companies " " Station Agents , " " Individuals " " P. Department " Pay Rolls " Taxes retained " Profit and loss account. 807 99 1(55,500 00 1,380 00 i 210,000 00 1,540 00 186 00 1 336 00 116 OOl 192 00 390 00 270 OO! 498 OOl 399 00 702 OOl 121,260 OOl 259 95 55 34 4,658 21 25 55 4,421 16 683 91 4,000,000 00 —513,681 11 1,031,192 35 $5,544,873 46 J. A. jMcCAULEY, Secretary. 26 PROCEEDINGS OF THE STOCKHOLDERS REPORT OF FINANCE COMMITTEE. Office North Carolina Railroad Company, Company Shops, N. C, June 19th, 1877. To the Stockholders of the N. C. Railroad Co7npany : The Committee of Finance has made the usual exami-nation of the affairs of the company for the year 1877. The Treasurer's account has been examined at the bi-monthly meetings of the conamittee and have ever found the books neatly and accurately kept, all the charges sustained by proper vouchers and the committee take pleasure in commending the diligence, fidelity and cour-tesy of the treasurer and secretary of the company. The bonds of the issue of 1857, due in 1867, amounting to $38,000 have been paid, examined by the committee and cancelled. This measure has been frequently recom-mended by this committe and is now fully approved. ij Amount of ten year bonds due 1st of ITovember, 1877, jj now unpaid is $165,500. These bonds will be provided for by the trustee out of assets of the sinking fund. Amount of twenty 3^ear bonds unpaid and maturing 1st November 1888, is $210,000. We find in the hands of N. H. D. Wilson, trustee, $191,019 70, consisting of the following items, to-wit : NORTH CAROLINA RAILROAD CO, 27 No. 1. Claim on Atlantic, Tennessee and Ohio R. R. ) ^r,o 070 Kr, from Charlotte to Statesville. ] 9<^,o/u 0^ Of this item 848,788 80 is in a Judj^taent, and 124.881 77 is in gold bonds. No. 2. 13 N. C. R. R. Bonds, of the 20 year class 6,000 No. 3. Note R. B. Haywood 3,000 No. 4. " W. A. Graham and R. D. Graham 800 No. 5&6 " R. D. Graham 4,000 and 5,000 9,000 No. 7. Deposit Farmer's and Saving's Bank, Charlotte 5,000 No. 8. Certificate of Deposit Wilson and Shober 25,000 No. 9. " " " 22,000 No. 10. Note Thos. Settle 10,000 No. 11. ' W.F.Bowman 12,000 No. 12. •' V.G.Hundley 4,000 No. 13. 10 U. S. bonds 67's cost 11,64150 No. 14. Deposit in State National Bank Raleigh 7,223 92 No. 15. Cash in hands of Trustee 1,684 71 $191,019 70 The Committee would suggest the exercise of great caution on the part of the trustee in loaning these funds to individuals on collaterals or mortgages. The fluctuat-ing character of collaterals and the very great difficulty of realizing under forced sales of real estate in times like the present, justify in the judgment of the committee, this suggestion to the trustee. The investment of the trustee in the claim on the A. T. & 0. Railroad is approved and highly commended by the committee a,sa wise and judicious use of the fund, as well for ihe intrinsic value of the property as for the col-lateral advantages given to the N. C Railroad by the control of their claim. D. A. DAVIS, Chairman, C. G. YATES, J. H. WELBORN, W. F. HEiTDERSO^^, THOS. B. KEOGH. Names, Shares. Albright, W. R 6 Alexander, Cyrus A 20 Alexander, Alphonso 10 Adams, Peter 29 Albright, J. R 3 Allison, R. W 22 Allison, John 5 Allen, James E 9 Adams, Lynn 2 Adderson," R. Stokes 1 Apple, Lewis J 2 Allison, J. Y 1 Allison, J. P 1 Avery, Mrs. M. Corinna H Alexauder, J. M. gard 17 Andrews, A. B 5 Adams, James H 4 Adams, L, H 2 Albright, D. H 1 Anthony, Sarah J 1 Allen, Laura L 1 Aaron & Rheinstien 1 Armfield, Emsley 1 Brown, Margaret 5 Beal, James F 2 Baker, D. B 1 Burruss, J. T 20 Bellamy, John D 5 Bason, Joseph R 1 Boon, Lewis S 2 Benson, William 1 Bernhardt, M. A 2 Bason, Jere'h 1 Black, John M 1 Barrier, Daniel 5 Barrier, Moses 5 Barrier, Mathias 5 Barnhardt, Jacob C 6 Belo, E 343 Boren, A. P 3 Bane, John 5 Brown, Allen 2 Bingham, W. J 30 Brown, Letitia & Martin Richwine 6 Names. Shaves. Ban-inger, David 27 Branch, L. 0. B 1 BurtcPB 1 Barringer, ]\Iartin L 5 Battle, Kemp P 5 Brown, James N 1 Baile}% Thomas 4 Barringer, C A 1 Boydeii, Nathaniel 10 Barnhardt, G. M 55 Bradford, 'John 3 Barringer. Rufus 37 Blalock, John M 1 Bost. M. L 5 Black, E. C 1 Bowman, G W 2 Brewer, Thomas 2 Bragg. W 2 Blacknall, K 1 Beard, H. H 5 Boyden, John A 1 Berry, John 2 Brown, John L 10 Boylan, Jane 5 Bo'ylan. Kate 10 Boylan, Jolm S. trustee 3 Boylan William M 5 Boylan, John H 7 Barnes, Geo. T. trustee 113 Branch, Thomas 38S Batchelor, J. B 6 Blackmer, Luke 1 Bell,M, T 20 Ball, R. J 1 Borden, E B. adm'r 3 Ballard, B T 30 Branch, Thomas & Co 9 Bulbrd, A. .^ 5 Bullock, B. T. Sr 21 Brevard, Robert A 18 Barringer, Catherine A 1 Bain, Geo. M. Jr 5 Burwell, A. trustee 180 Barnhardt, John M 1 Barnhardt, M. L 1 Names. Shares. Earnhardt, James E. H 4 Barnliardt, M. L, trustee... 1 Branch, M. L. M 5 Barringer, Lewin W, guar.. 16 Barruiger, Lewin W 22 Bank of Greensboro 3.38 Bason, W. F 15 Benbow, D. W. C 5 Bell, Caroline 2 Cochran, It. M 15 Carter, John 25 Cummings, Wm. M 3 Clapp, Daniel F 1 Caldwell, David F 131 Cameron, Mildred C 17 Cameron, Paul C 50 Cannon, E J 5 Cook, Mathias ,.. 3 Carigan, W. A 40 Clouse, William 10 Cobb, John 1 Corsbic, John 1 Cummings, E. F 3 Clapp, Jacob 1 Caldwell, R. C 5 Cook, Thomas E.... 1 ("aims, George A 2 Crump, R R 2 Carson, James H 70 Cable, Israel 2 Caldwell, W. P 5 Charlotte, Columbia & Au-gusta R. R. Co 55 Clapp, John E 2 Caldwell, J. E 2 Cook, Thomas E. executor 16 Cutherell, Joseph T 5 Cole, Stephen W 137 Cobb, Margaret 1 Cramer, Jennie T 17 Clapp, Abram 1 Cowles, Calvin J 1 Couch, A. B 1 Corl, Julia A 1 Cabaniss, Charles I.. 4 Donnell, Edmund 2 Donnell, Wm. & Thomas B 2 Donnell, George 3 Davis, James 3 Deaton, James 5 Donnan, David Jr 3 Donnan, John 3 Dunkin, Wm. C 1 Names. Shares. Dibble & Brothers & W. H. Washington 1 Davis D."a 34 Dobbins, N. M 2 Dawson, J. & Co 5 Dickenson, A. C 1 Dewey, C. F 1 Dewey, Charles 2 Dancy, John 8 11 DeRossette, A. J 30 Drake, Caroline A 27 Davidson, A. Brevard 109 Dick, Mollie G 5 Dick, Mrs. P. P 5 Dick, Anna W 5 Dowd C 7 Dockery, 0. H. & Fannie Settle, his wife 5 Dorland, Luke 7 Darr, Elizabeth A 17 Davis, I. H 1 Davis, L. F 1 Davis, W. K. guar 44 Eccles, Henry 5 Eilers, H. B 1 Erwin, J. J 18 Elias & Cohen 50 Erwin, Charles H 5 Erwin, RichardF 1 Evans, Jane M. ex 2 Evans, A, E 11 Evans, C. N. B 1 Erwin, Elizabeth M 1 Fonville, F. W 1 Faucette, John 1 Fuller. J. N 2 Fink, John 24 Foil ]\Ioses 5 Fries, Francis 114 Fries, Henry 40 Fogleman, Peter 1 Foust, Daniel 3 Fraley, B F 6 Foy, J. M 1 French, G. R 3 Ferrall, Patrick 1 Faucette, George A 5 Freeland, C. J 4 Faucette, J. R 5 Freeland, T. J 3 Fitzgerald, M. B 1 Fraley, Jacob S Fife, W. W 18 Names. Saares Foard. R. W... 33 Foust, Daniel P 9 Fairoloth, W. T.. 5 Foard, T. C 1 Fix, Joseph 2 Foard. Fred C 1 Furr, Paul \V 1 Farmers' iSaviugs Bank 20 Fries, F. H 23 Fries, J. W 5 Fuller, A 1 Gant, Jessee 7 Guthrie, George 1 Graves, Calvin 10 Gilmer, James F 1 Gilmer, Wm. S 1 Gray, Win 2 Graham & Dunn 1 Gorrell, Ralph 11 Guess, W. W" 1 Graliam, W. A 20 Gholson, Thomas 2 Gibson, Sarah E 1 Gheen, G H 1 Green, George 8 Grice, George \V 5 Green, 1\ :> IJ Gluj^as, Thomas 1 Gluyas, William 1 Goodman, Henry 10 Gully, Wm. Gaston 5 Guion, J. A 5 Gregory, Richard J 9 Gray, J. A 11 Graham, John W 5 Graham, William A. Jr 5 Graham, James A 5 GuUey, Joseph P 1 Graham, Susan W 5 Gaithers, Thomas H 1 Graham, Augustus W 5 Hughes, A. G 1 Hazelle, Benuett 14 Holt, E. M 139 Holmes, William 1 Holt, Peter F 1 Holt, Jerry'h 1 Harden. Peter R 1 Holt, Jacob 6 Harris, Kiah P 2 Harder, Joseph 1 Harris, Solomon 5 Harris, William S 5 Names. Shares. Harris, Charles 1 5 Hargravos, Alfred 20 Hedriek, John L lo HedricI:, B. S 3 Hedriek, J. A 3 Harris, T. D 3 Hairston. Peter W 5 Hiatt. Wilson 1 Hiatt, David 1 Hanner. Samuel & Co 5 • Hendrix, James 1 Houston, J. H 10 Hackette J. C 1 Holt, John 1 Heart. Dennis -z Heart, Edwin A 2 Harrison, B P 1 Horah, John M 2 Hoa hman, William 5 Harris, George 3 Heart, Levi A 5 Havwood. George W 4 Hifl, Fred C 1 Holmes, M L 141 Havwood. K. B 5 Hogg. Thmias D 10 llolieniai:. W. H 2 Haywood, Fabias J 10 Hamilton, Robert A 12 Haynes, Wm. H 2 Hoyle, :\[rs E. W 5 Howeli, Josiah 4 Hooker, 5 Holmes. Reuben J 118 Holt, Joseph S 3 Holt, JamesH 1 Holt, Henry 4 Houston, Joseph A 1 Hawkins Phil B lo Hendon, Lydia M 7 Hughes. Samuel W 1 Hoit, C G 3 Heilig, Paul N 40 Hall, Wm J 3 Heathman, John N ' 3 Holt, T. M 24 Holt, W. E 1 Harvey, Mary A 1 Hathaway, J, L 4() Heart, Alice E 1 Huftman, D. W. M 1 Hay, Thomas 5 Heron, William 50 82 LIST OF STOCKHOLDERS Names. Shares. Henderson, W. F 5 Humphrey, L W 75 Hays, M. T 2 Harris, M. A 2 Harris, S. W 5 Holmes. M. L. trustee 5 Howertoii, fc?. W 1 Harris, Hammet 3 Harden, Sarah E 6 Holt, Catherine 3 Hill&Skinker 20 HicLs, W. J 19 Holt, E. M., sons 1 Heilig, Amelia 5 Hauglianoul, Amanda 1 Ipock, Arthur 5_ Irwin, .John F 1 Jones, Pride 1 Jones, Wesley 5 Jones, Kimbro 10 Joli;;sti n, George W 15 Jolmstou, Nancy 1 Johnston, Ljdia 7 Johnston, Charles AV 7 Justice, J. C 16 Johnston, Milas W 3 Johnston, Levi E 1 Johnston, 1). W. C 1 Johnston, William trustee, 120 Johnston, S. H 33 Jones, Dena C 6 Jarvis, A. S 138 Jones, W. 1 Kerr, D. W 5 Kerr, Samuel 5 Kirkland, John U 10 Kahnweiler, S. B 1 King, Elam 2 Kelly. Charles 5 Kirkman, Levin 2 Kerr, Martha J 6 King, Elam guar 3 Kimmons, Dorcas 1 Knox, Mrs. E. H 15 Keogh, T. B 101 Kornegay, W. F 45 Kirkman, James S 1 Lindsey, A. H 1 Lindsey, J, A 2 Long, J. M 11 Lambeth, Jane 2 Lambeth, D. T 13 Logan, J. E. & Isabella 3 Names. Shares. Lindsey, Jesse H 50 Lamb, (J. & J 1 Lamb, Anderson 1 Latta, John C 1 Lattimer, C. M 16 Leslie, Robert 25 Leach, M. W 6 Leach, L. M 1 Lippett, J. J 1 Little, George 2 Latimer, Zebulon 182 London, John R 4 London, Fred Hill 25 Lambeth, R. S 10 Logan, John E 3 Loftii, David 5 Long, F H 5 Long, Helen C 1 Lon'u, Lilly W 1 Long, Fanny 1 Long, Thomas W 1 Lassiter, D. W. ex 4 Lassitor, I). W 4 Leuiiey, H. A. & Edwin Shaver, adm'rs 280 Lemiey, W. A 20 Ligoa, D. P 4 Manaey, Ephrim 13 Manney, Valeutine 13 McCallock, Josiah 3 Moose, Daniel M 1 Moose, John 10 Moose, John F 1 Monan, Wm. P 10 McEachern, J. E 4 Morri.s, P. M 9 Morrison, J E 2 McDonald, John 5 Moss, A. H 3 Mendenhall, Judith J 1 McLean, F. B 2 Mendenhall, Cyrus P 2 McGullock, J. D 1 McLean, J. M. & Co 4 McLean, Thomas G 1 McLean & Co 5 McLean, John M., Jr 1 Miner, James 1 Millis, James N 2 McAdoo, C. N 6 Mendenhall, R. J 1 Mclver, James 3 Mitchell, Elishua 8 NORTH CAROLINA RAILROAD CO. 33 Names. Shares. Mcllwaiue, A. G 15 Millikeu, Eleazer 1 Murdock, William 3 Mears. Gaston 1 McRee, A. C 1 McRae, John 220 IMordecai, George W 80 McRae, Donald 185 Morris, Jere 9 McKee, W. H 1 Martin, John 1 Melchoir, Ciiris 10 Misenheimer, Joseph 10 Moss, Margaret E 1 Moss, Mary Jane 1 Moss, Edmund A 1 Moss, John A 1 Marsh, Edward H 4 Moss, J. B 5 Maloue, John 16 Moore, Dr. J. A 1 McAdoo, John 9 Morehead, J. Turner 9 Myers, W. R 224 McAlister, A. C 1 McPheters, A. M 2 Murray, Albert 2 Morehead, J. L 214 Morehead, Eugene 14 McRae, Donald, guard 22 McRae, Walter G 25 McKinley, Charles D 1 Murphy, Susan W 6 McCubbins, J. S. guar 6 McCubbins. J. S. guar 6 Murchison, K. M 40 Morehead, J. T. jr 5 Mock, Charlotte C 6 Michaux, Richard V 12 Mebane, C. P 2 Morehead, J. T. sr 22 Murray, W. J 2 Mail, A. T 2 Martin, Sarah E 17 Murrow, Joshua S 2 McAden, R. Y 40 Manney, E. adm'r 1 McRary, W. H 22 Newlin, John & Son 10 Neal, Elam 1 Newlin, James 3 Nutt, H 12 NixoQ, N. N 3 5 Names. Shares. Nelson, C. J 1 Norris, Jessee A 5 Neely, Providence 3 Norwood, John W 30 North Carolina Railroad Company 195 Norwood, Rebecca W 1 Overman, William 5 Odell, J. M 2 Patterson, George 1 Parker, J. W 1 Philips, James 5 Poole, W. R 19 Primrose, Eliza guar 5 Palmer, John C 2 Purify, J. L 1 Pharr, H. S 1 Perry, R 1 Peace, William 10 Pharr, Samuel 5 Pharr, Wm. R 7 Plunkett, Francis E 5 Pharr, John . 3 Parker, Henry 5 Parker, Sarah trustee 5 Phifer, John L 1 Pass, J. C 20 Patterson, R. L. guar 10 Pegram, M. P 6 Patterson, R. L. guar 1 Parks, D. C 5 Porter, Mary E 5 Pinnix, Flora A 9 Phipps, Robert 8 2 Pegram, M. P. cashier 40 Pullen, R. S 34 Perry, S 2 Pharr, Isabella V 1 Plant, H. B 209 Ray, Angeletta 5 Reed, Joel 10 Roney, B. F 2 Riley, George 1 Roberts, W. W 1 Rowlett, John 1 Ruffin, P. B 5 Robbins, Ahi 5 Rice, John 1 Roulhac, J. B. G 10 Rumple, Jethro 1 Rice, John adm'r B, H 3 Rice, John adm'r S. T 3 Rankin, Robert C 2 84 LIST OF STOCKHOLDERS Names. ' Shares. Raleigh National Bank 20 Ruffin, T. Jr 1 Reynolds, Hugh 5 Rodman, W. B 40 Rumple, Catherine 1 Reid, Hugh K 4 Royster, Maria P 7 Rountree, R. H 5 Rankin, Louisa M 8 Rankin, Henrietta 1 Rankin, John A. guar 4 Repiton, A. Paul 4 Scott, John 3 Simpson, T. R 1 Smith, It. a 1 Stirewalt, Jacob Jr., guar.. 5 Stirewalt, Jacob Jr 5 Stewart, James A 2 Sellers, Benjamin A 1 Smith, M. D 5 Stafford, John B 5 Stratford, Henry B 2 Stanly, E. R 16 Smedes, Aldert 6 Selby. Thomas H 3 Shinpock, John 5 Strayhorn, Wm F 1 State of North Carolina.. .30,000 Scott, John D 8 Stephenson, David H 1 Sellers, Griffin 2 .strange, Robert 5 Swain, Lyndon 2 Simonton, R. F 7 Smith, W. A 26 Sasser, Millie 20 Sasser, Ellen 20 Smith. Roger A 10 Smith, C. W 10 Scott, John 5 Springs, A. B 150 Ktarbuck, D. H 10 Springs, A. B. Ag't 36 Shaw, Eliza A 1 Springs Richard A 35 Staftbrd, f-am'l Mc 8 Settle, David 1 Smith, E. L.... 1 Sowers, Jacob A 1 Scales, J. 1 10 Spicer, John D 65 Summers, Elizabeth 1 Summers, Narcessia 2 Names. Shares. Strayhorn, Sidney G 2 Smith, Mrs. E L 3 Shaflfner, J. F 25 Swepson, Virginia B 10 Stafford, R. M 2 Smith, Annie 1 Sullivan, N. D 13 Scott, S. K. Ag't 6 Stewart, John 135 Shaw, Eliza J 1 Troleuger, W. H 1 Trolenger, John 28 Trolinger, Jacob T 1 Thompson, Patterson 1 Trolengei', James 1 Tomlinson, Enos 7 Thomas, Jesse 1 Turner, Wilford 29 Taylor, Fisher B Thacker, Isaac 30 Tinnen, David 5 Tinnen, C.C 8 Trott, S. 8 1 Turner, Samuel 2 Tucker, W. H. & R. S 45 TuU, John G 10 The Trustees Sugar Creek Church 5 Turrentine, W. H 2 Turrentine, James A 5 Tetter, Doi'cas S 5 Tate, George W 2 Tate, Hugh A 10 Thomas, R. W 29 Thomas, Mary 18 Thomas W. D 17 Thomas, J. Wesley 84 Thomas, P. C 17 Thomas, H. C 17 The State National Bank of Raleigh 5 Upcliurch, Bartley 1 Unthank, Jennie E 1 Vanbokkelin, A. H 2 Vogler, Julius R 97 Walker, Morgan A 1 White, S. A 1 Watson, E. F 3 White, Sam'lM 1 Watkins, Sam'l 1 White, R. J 1 Winecoff, M 5 Wideuhouse, M 5 NORTH CAROLINA RAILROAD CO. 35 JJames. Shares. Wilson, Isaac 31 White, A. B 1 Winecoff, 11 1 Watson, J. S 1 Wharton, John 5 Wharton, J. C 2 Wiley, Shannon 2 Wilson, William 1 Wharton, David 11 Weatherly, Joseph A 1 Watson, John 1 Webb, Thomas 32 Wilson, Alexander jr 1 Wilkins, Edmund 6 Withers, Thomas 5 Wood, W. A 1 Wright, W. A 5 Wright, Thomas H 10 Watson, J. W. B 50 Wilson, Samuel M 5 Williams, Alfred 3 White, J. B, 1 Womble, Jordan 2 Williams, H 2 White, George W 1 Wilson, Thomas J 5 Walker, Sarah 2 Worth, Daniel 2 Williams, Sarah A 5 Walker, Mary 2 White, C. R. adm'r 5 Wagoner, Simeon 1 Wilson, Robert 1 Names. Shares. Williams. J. S 2 Walker, L. H H Welker, G. W 20 Wilson & Shober 317 Webb, James jr 34 Wiley, S. H 80 Woodson, Obediah 1 Wharton, C. E 10 Weir, Mrs. Susan J 27 Westbrooks, A. C 1 Williams, Margaret C 10 Williams, John G., Prest... 18 Welbourn, John H 20 Williams, John G 1 Wilson, Joseph H 20 White, Harriett N 5 White, Mary P 5 Winstead, W. H 10 Wilson, J. E 1 Webb, Margaret T 1 Williams, Geo. W., Jas. S. Gilbert, F. I. Pelzer, trustees, 50 Young, J. C 1 Yates, C. G 3 Yates, William J 16 Young, W. M 1 Yokely, Jacob M 9 York, N. F 1 York, Lenora H 1 York, A. J. jr 1 York, John F 1 w.^^^:^-^ ^x. ^^j^^^jCj^is^ ^fx^t c^H^i^'i.ytUXj^f^^ ^^f^A
Object Description
Description
Title | Proceedings of the stockholders of the North Carolina Rail Road Company |
Other Title | Annual meeting of the stockholders and reports of the officers of the North Carolina Railroad Company. |
Creator | North Carolina Railroad Company. |
Date | 1877 |
Subjects |
North Carolina. Railroad Company--Periodicals Railroads--North Carolina Banks and banking |
Place |
Salisbury, Rowan County, North Carolina, United States North Carolina, United States |
Time Period |
(1876-1900) Gilded Age |
Description | Title from cover. |
Publisher | [North Carolina] :NC Railroad Co.,1872- |
Rights | State Document see http://digital.ncdcr.gov/u?/p249901coll22,63754 |
Physical Characteristics | v. ;21-23 cm. |
Collection | University Library. University of North Carolina at Chapel Hill |
Type | text |
Language | English |
Format |
Reports Meetings |
Digital Characteristics-A | 2152 KB; 54 p. |
Digital Collection |
Ensuring Democracy through Digital Access, a North Carolina LSTA-funded grant project North Carolina Digital State Documents Collection |
Digital Format | application/pdf |
Title Replaces | Proceedings of the... annual meeting of the stockholders of the North Carolina Rail Road Company(OCoLC)18910144. |
Audience | All |
Pres File Name-M | pubs_edp_proceedingsofNCrailroad1877.pdf |
Pres Local File Path-M | \Preservation_content\StatePubs\pubs_edp\images_master\ |
Full Text | f ^ Library OF THE University of NortK Carolina This book was presenteti by Members of the family of the late COL. A. B. ANDREWS >.- This bookmust not be taken from the Library building. ^o > J>& PROCEEDINGS OF THE STOCKHOLDERS OF THB North Carolina Railroad Co., AT THEIR TWENTT-EISHTH ANNUAL MEETINS, HELD AT SALISBURY, JULY 12th, 1877. RALEIGH: THB RALEIGH NEWS STEAM JOB PRINT. 1877. PROCEEDINGS. Salisbury, N. C, July 12th, 1877. The Stockholders of the North Carolina Railroad Com-pany convened in the Court House this day at 11 A. M. to hold their twenty-eighth annual meeting. On motion of Col. W. R. Myers, of Charlotte, a tem-porary organization was effected by calling Mr. A. H. Boyden, of Salisbury, to the chair, and by requesting J. A. McCauley to act as Secretary and Mr. J. J. Bruner as Assistant Secretary. The committee on proxies reported as follows: The number of stockholders represented in person 14, by proxy 420 ; whole number of shares owned by individuals 10,000 ; whole number of shares represented in person 838, and by proxy 7,955. Total number of shares repre-sented 8,793. The Chair announced that there was a large majority of the individual stock represented, and therefore the meeting wes organized in accordance with the charter and by-laws. On motion of Col. W. R. Myers the temporary organ-ization was made permanent. Col. J. A. Gilmer presented his credentials as State proxy which were received. The President read his annual report. On motion of Mr. N. H. D. Wilson, the reading of the Secretary and Treasurer's reports was dispensed with. 4 PROCEEDINGS OF THE STOCKHOLDERS Mr. D. A. Davis, Chairman of the Finance Committee, read the report of said committee. On motion of Mr. Mnrdock, of Salisbury, the reports of all the officers were referred to a committee of four to be appointed b}^ the chair. The Chair appointed Messrs. W. J. Yates, Wm. Mur-dock, J. T. Morehead and H. W. Fries. Mr. L. "W. Barringer offered the following preamble and resolution, viz: Whereas, Owing to the great depreciation of railroad securities; and whereas, under the lease of the N'orth Carolina Railroad to the Richmond and Danville Rail-road the lessee 'deposited as collateral for the fulfilment of the covenant large amount of bonds ; now therefore, Be it resolved, That a committee of three stockholders be appointed to examine the same and report, 1st. If the bonds are now worth $150,000 in cash. 2d. If they are marketable securities. 3d. What bonds are deposited, and 4th. And that the committee report to the stoc"kholders by circular in one month. And also that the same commit-tee report what security the Richmond and Danville Railroad gave for keeping the road in repair, and wdiat is the nature of the bond, and who are the sureties. Mr. R. Y. McAden offered the following resolution as a substitute to Mr. Barringer's preamble and resolution which was adopted, viz: Resolved, That the Board of Directors be requested to examine carefully into the collaterals deposited by the Richmond and Danville Railroad Company to protect the lease and to report to the Stockholders in a circular within thirty days: 1st. What these collaterals consist of. NORTH CAROLINA RAILROAD CO. 2d. Giving full description of same. 3rd. Reporting market value of same, and 4th. Whether or not the col-laterals are sufficient according to the terms of the lease. Should the collaterals be insufficient the Directors are re-quested and required to at once notify the lessee to make good the'collaterals according to the terms of the lease. That the Directors enquire as to the bond given ac-cording to the terms of the lease to keep up the road, &c., and report fully in the circular the obligors on the bond and as to its solvency. Mr. J. T. Morehead on the part of the committee ap-pointed to examine the reports of the officers, presented the following report which was adopted, viz: The committee to whom were referred the reports of present officers of the Compan}^ and Finance Committee respectfully report: That the limited time allowed the committee render it impossible for them to do more than glance over the printed information turnished, and so far as they can judge they have no reason to doubt their correctness, and suggest that they be approved. In regard to the suggestions of the President as to cer-tain debts due the Company being charged to the account of profit and loss, we recommend that the Finance Com-mittee be empowered at their discretion to carry into effect the recommendation of the President. Your Committee heartily approve the recommendation of the Finance Committee made to the Trustee, viz : That great caution be exercised in loaning the funds in his charge to individuals on collateral or mortgage. W. J. Yates. Salisbury, July 12th, 1877. H. W. Fries, Wm. Murdock, J. Turner Morehead. 6 PROCEEDINGS OF THE STOCKHOLDERS Mr. J. T. Morehead offered the following resolution, which was adopted, viz : Mesolved, That it shall be the duty of the Secretary and Treasurer annually to prepare and deliver to the Directors five days before the regular annual meetings of the Com-pany in addition to the usual published statements a full and complete itemized statement of the receipts and ex-penditures of the Company, and also an itemized sched-ule of the assets of the company, which statement shall be produced by the Directors during the meeting of the stockholders for reference and inspection. On motion the meeting proceeded to the election of four Directors on the part of the individual stockholders. The chair appointed Mr. J. H. Welbourn and Mr. J. A. Hedrick tellers. The tellers reported the following as the result of the balloting, viz : Mr. H. W. Fries, 8788 ; Mr. M. L. Holmes, 8657; Col. T. M. Holt, 8646; and Dr. R. B. Haywood, 8406 ; scattering, 371. The chair announced that Messrs. H. W. Fries, M. L. Holmes, T. M. Holt and R. B. Haywood were duly elected. Mr. R. Y. McAden offered the following resolution, which was unanimously adopted, viz : Resolved., That the stockholders of the North Carolina Railroad Compan}^ with pleasure learn from the reports of the officers the good condition of the roadbed and machinery, the condition of the same appearing sufficient for any reasonable speed. Resolved, That the stockholders respectfully recom-mend to the Post Office Department this line for the fast mail service, it being the shortest and most direct line between New York and New Orleans, and in other re-spects the equal if not superior to any other line. WRTH CAROLINA RAILROAD CO. 7 Resolved., That the Secretary of this Company be re-quired to send a copy of the foregoin,^ resolutions to the Post Office Department at Washington City. On motion Messrs. John L, Brown, Peter Adams and F. C. Robbins were elected on the Committee of Finance. Col. W. R. Myers offered the following resolution, which was adopted : Resolved^ That the managers of the Richmond & Dan-ville and North Carolina Railroad Companies are en-titled to the thanks of this convention for the accom-modations afforded the stockholders in attendance in this convention in the way of transportation, &c. Mr. W. J. Yates offered the following resolution, which was adopted : Resolved^ That the thanks of this meeting be tendered to the Chairman and Secretaries for the efficient and satisfactory manner in which they have discharged their duties. On motion of Mr. D. A. Davis the chair appointed the following gentlemen a committee to verify proxies for the next annual meeting, to be held at Hillsboro, N. C, viz : Messrs. P. B. Ruffin, James Webb, Jr., and J. U. Kirkland. On motion the meeting adjourned. A. H. BOYDEN, Chairman. J. A. McCaulbt, Secretary. J. J. Bruner, Asst. Secretary. REPORT OF THE BOARD OF DIRECTORS. Office North Carolina Railroad Company, Company Shops, N. C, June 15th, 1877. Ill compliance with the requirement of the charter, the Board of Directors have the honor to submit the follow-ing reports, showing the business of the Company for the fiscal year ending May 31st, 1877. The report of the President with the accompanying tables show the condition of the Road in full. 10 PROCEEDINGS OF THE STOCKHOLDERS PRESIDENT'S REPORT. President's Office^ N. C. R. R. Company, Company Shops, N. C, June 15th, 1877. To the Board of Directors : Gentlemen:— I submit to you, and through you to the stockholders of the North Carolina Railroad Compa-ny, the following reports of the receipts, expenditures and debts of the Company up to the end ef the tiscal year end- May 31, 1877. Receipts from all sources $273,637 54 Expenses for the year, 85,290 34 Paid in settlement of old claims and ex- ^ penses of Board of Directors and Fi- > 2,602 81 nance Committee. J Paid interest on debt 33,216 20 —41,109 35 Leaving a balance of $232,528 19 Out of the above balance we have paid dividends to the amount of 120,781 00 Leaving still a balance of $111,747 19 Which has been applied to the Sinking Fund and other purposes, fully shown in detail in the report of the Treasurer. DEBT OF THE COMPANY. The total debt of the Company reported at the last Annual meeting was $433,295 72 The- debt of the Company now is $513,681 11 From which deduct amount of assets, 292,536 99 And we have the actual debt of the Com-pany $221,144 12 Of the above $292,536 99, assets $48,509 88 is cash deposited with NORTH CAROLINA RAILROAD CO, 11 Banks and Bankers, and cash items; anu $191,019 70 is cash in the hands of the Trustee for the redemption of mortgage bonds. The remainder amounting to $53,007.41, consisting of old accounts atrainst individuals, other companies and the State of North Carolina, as shown in the Secretary's ex-hibit, may be considered as worthless, except probably the amount of $1,000, which maybe collected from the whole list. These accounts known to be worthless, ought to be charged to profit and loss, so as not to appe&r as assets from year to year. You will see that the debtof the coinpany ismore now than one year ago, which v,'as caused by a dividend be-ing declared, three per cent, of which is not yet due, but is reported as a debt against the company. MORTGAGE. Amount of bonds issued under the mortgage, $790,000 00 Cash and bonds paid into the sinking fund, 605,519 70 SINKING FUND. The company has paid during the year to Rev. N. H. D. Wilson, trustee, $93,734 44 OLD DEBT. The amount of the loan of 1857, outstanding at your last annual meeting has been paid during the year. REMARKS. According to the ierms of the lease made with the Richmond & Danville Railroad Company, September 11th, 1871, the road bed, rolling stock, bridges, buildings and all property belonging to this company is required 12 PROCEEDINGS OF THE STOCKHOLDERS to be examined by two experts in October of each year, one selected by this company, and one by the Richmond & Danville Railroad Company, and report to the Board of Directors of this company whether the property is in all respects in as good condition as when the lease was made. Mr. William Murdock, of Salisbur}'^, was selected on the part of the North Carolina Railroad Company, and Col. T. J. Sumner, of Salisbury, on the part of the Richmond & Danville Railroad Company. They went over the entire length of the road and made the neces-sary examination as required by the lease, and reported to the Board of Directors of this Company on the 23d day of October, 1876, which is as follows, viz : Company Shops, N. C, October 23d, 1876. To the President and Board of Directors of the North Caro-lina Railroad Company, and the Richmond ^ Danville Railroad Company: Gentlemen:—We have inspected the property of the North Carolina Railroad Company leased to the Rich-mond & Danville Railroad Company, and submit the fol-lowing report : ROAD BED. Considerable improvement has been made upon the roail bed. It is more thoroughl}' ditched than heretofore, and the ballasting has been well maintained, while par-ticular attention has been given to moving the dirt and rubbish from the ends of the cross ties, thus improving the drainage, general appearance and stabilityof the road NORTH CAROLINA RAILROAD CO. 13 bed. We were pleased to see that some attention had beei. bestowed upon the ri^^ht of way, in cleaning it of trees and bushes, thus increasing the security of the trains while improving the appearance of the property. CROSS TIES. The timber in the track is generally sound, a suffi-ciency of ties having been put in during the year to sup-ply all decay. TRACK. « The general surfacing and alignment of track have been improved by the good condition of the road bed, and by the constant effort of officers and employees in making the best use of all available means for this pur-pose, but in our opinion, it will require twelve hun-dred and fifty (1250) tons of 56 lbs. T rails during the next year to replace worn rails. BRIDGES. The bridges are in good condition. A New Howe Truss Bridge at South Potts Creek, replaces the Lattice bridge former]}' there. The new bridges have not been covered, but we are informed the material is ordered for that purpose. BUILDINGS. The buildings generally are in fair order, only a few minor repairs being required. The dwellings at the Com-pany Shops have been improved. We would rqspectfully 14 PROCEEDINGS OF THE STOCKHOLDERS suggest the propriety of selling these dwellings and lots to the employees. The companies would be relieved of troublesome and combustible property and the employees who purchase would become permanently located and more deeply identified with the interests and success of the Company. WATER AND WOOD. The supply of these are sufficient. PASSENGER AND FREIGHT CARS. The passenger and freight equipment have been in-creased and improved. One passenger car built at Com-pany Shops; 30 box and 16 flats added; new standard draw bars put upon 58 cars ; 4 box, 11 flats and 8 shanty cars were condemned and destroyed during the year. The number of cars has therefore been increased by 26 box and 5 fiats, the shanty cars decreased by 8. MOTIVE POWER. The locomotives are in better order than last year, two new boilers having been added. They number one less than last year. One was condemned as unfit for service. MATERIAL. The supply of material in store is less than last year. This material last year was composed largely of wheels and axles, which have since been applied to the construc-tion of cars. All of which is most respectfully submitted. WILLIAM MURDOCK. T. J. SUMNER. mRTH CAROLINA RAILROAD CO. 15 From which report 3'OU will observe that the road bed, bridges, buildings, track, rolling stock, &c., are equal to and in as good condition as when leased, except the item of iron. They r^^port that it will require twelve hundred anri fifty tons of 56 pound Trails to go in the track by Oc-tober next. The Richmond and Danville Railroad Com-pany has already put a portion of the iron in the track and the president of said company in reply to a notice served on him by this company, has assured the board of directors that the amount of iron required shall be furnished within the time specified. The securities deposited by the Richmond and Dan-ville Railroad Company are considered amply sufficient to cover any deficiency which may arise. The last Legis-lature appointed a committee to examine into the secu-rities deposited with this company by the Richmond and Danville Railroad Company and report to the General Assembly, whether the cash market value of the securities were equal to the amount required by the lease. I was summoned before said committee and gave them a mem-orandum of said securities which was considered by them amply sufficient. At your annual meeting of the stockholders in 1875, a resolution was adopted authorizing the board of directors to purchase bonds issued by the State for the purpose of building the road, and known as construction bonds, I have to report the board of directors have not as yet purchased any of said bonds. All of which is respectfully submitted, THOS. M. HOLT, President. 16 PROCEEDINGS OF THE STOCKHOLDERS TREASURER'S REPORT. Treasurer's Office, IST, C. Railroad Co. Company Shops, N. C, June 14th, 1877. To the Stockholders of the N. C. R. R. Company : Gentlemen: I here\\'ith submit to you the annual re-port of the financial condition of the North Carolina Railroad Company for the fiscal year ending the 31st day of May. 1877. RECEIPTS AND DISBURSEMENTS. During the fiscal year the receipts from all sources have been ^269,417 15, and the amount paid out on ex-penses, bonds and other liabilities of the company $287,- 888 70, which will be fully set forth in the accompanying tables. FINANCIAL CONDITION NOW AND ONE YEAR AGO. The debt of the company reported and entered on the books of the company on the 31st day of May 1876, as shown by the books of the Secretary, was $438,295 72, to which add $34,317 45 of old debts not reported and en-tered on the books of the company, but which have been paid during the year. Wo have the total debt on the 31st day of May 1876, $467,613 17, to which add $240,000 00 a dividend of six per cent, declared on the capitol stock NORTH CAROLINA RAILROAD CO. 17 of the company by the board of directors, January 11th, 1877, and we have the debt of the company $707,613 17 of which amount there has been paid during the year, $193,932 06, leaving the debt of the company as shown by the books of the Secretary on the 81st day of May, 1877, $513,681 11, which amount may be reduced by assets $292,536 99, leaving a balance to be paid of $221,- 144 12. The general exhibits of the business of the company for the fiscal year shows an increase of the debt ofthe com-pany of $80,385 39, which is caused by the declaring of a dividend, three per cent, of which is uot due until Sep-tember 1st 1877. The total bonded debt of the company under mortgage is $375,500 00 of which $165,500 00 is in ten year bonds and $210,000 00 is in twenty year bonds. $38,000 00 the remainder of the loan of March 1st, 1857, has been paid during the fiscal year. Respectfully submitted, J. A. McCAULEY, Treasurer. 18 PROCEEDINGS OF THE STOCKHOLDERS J. A. McCauley in Account -with the N. O. R. R. Co., RECEIPTS. From Rents " Real Estate •' Interest, Premiums and Discounts " United States Tax Collected..., *•' Certificates issued Dividend No. 9 '' Individuals " Bills receivable " Lease North Carolina Railrokad and Cash Items on hand and with Banks and Bankers June 1st, 1876 Cash 776 02 648 25 7,156 81 5 70 42 00 39 37 749 00 260,000 00 66,981 43 $336,398 58 Commencing June 1st, 1876, and ending May 31st, 1877. DISBURSEMENTS. Legal Expenses Salaries Advertising and Stationery Traveling expenses and other incidentals Dividends N. H. D.Wilson, Trustee Interest on Coupon Bonds Loss and Damage Taxes paid Dividend Scrip Loan of March 1st, 1857 Other debts paid Pay Rolls (old) Interest and Premiums Cash and Cash Items on hand and with Banks and Bankers, May 31st, 1877 1,739 25 3,000 00 498 34 1,501 56 120,781 00 88,714 74 32,360 00 1,101 25 52 75 42 00 38,000 00 28 61 20 00 49 20 48,509 88 $336,398 58 20 PROCEEDINGS OF THE STOCKHOLDERS Statement showing Receipts and Expenditures of the N. O, BECEIPTS. From Lease of North Carolina Railroad... " Interest " Rents " Real Estate. 1260,000 00 12,183 51 $272,183 51 805 78 648 25 J73,637 54 NORTH CAROLINA RAILROAD CO. 21 R. R. Company for the Fiscal year ending May 31st, 1877. EXPENDITURES. Traveling expenses and other incidentals Loss and Damage Advertising and Stationery Salaries Legal Expenses Interest, Premiums and Discounts Tax Account Balance receipts more than expenses $1,501 22 PROCEEDINGS OF THE STOCKHOLDERS Exhibits of the North Carolina Railroad Company Amount of Assets on hand at the com mencement of this fiscal year as shown by report May 31st, 1876 Amount from sale Real Estate Amount of 1st payment Dividend No. 15 on stock owned by the North Carolina Railroad Company, passed to profit and loss Amount from Rent account , " " Interest " " Lease of the N. C. R, R, Company's debt increased., 6219,038 41 648 25 805 78 12,183 51 260,000 00 219,686 66 585 GO 272,989 29 80,385 39 )73,646 34 NORTH CAROLINA RAILROAD CO. 28 for the Fiscal year ending May 31st, 1877. DISBUESEMENTS. Amount Expenses for the year (old).. K " " " " (new). Amount of Dividend No. 15 declared January 11th, 1S77. 3 per cent pay-able March 1st, 1877. and 3 per cent, payable September 1st, 1877 ASSETS. Amount due from Station Agents Other Companies Cash on hand. Individuals Freight Exchanges United States State Xorth Carolina. Bills Receivable Supplies N. H. D. Wilson, Trustee 34,317 45 6,791 90 11,11G 12 U75 424 210 11.683 3,171 5.963 191,019 48,509 41,109 35 240,000 00 -292,536 99 1573,646 34 J. A. McCAULEY, Secretary. 24 PROCEEDINGS OF THE STOCKHOLDERS Statement Sho"wing the Financial Condition of the N. O. PROPERTY AND RESOURCES. Cost of Construction, Equipment and Keal Estate Amount Sinking Fund (old) " Chatham Railroad stock " North Carolina Railroad stock " Northwestern N. C. R. R. stock Amount due from Station Agents " " Other Companies.., " " Individuals " " Freight Exchanges. " " United States " " State North Carolina *' " Bills Receivable... " " N. H. D. Wilson, Trustee Amount of Supplies " Cash on hand 204,000 00 74,700 00 19,500 00 20,000 00 11,116 47 8,363 33 12,075 25 424 12 210 48 11,683 09 3,171 Ob 191,019 70 5,963 12 48,509 88 4,934,136 47 318,200 00 292,536 99 5,544,873 46 NORTH CAROLINA RAILROAD CO. 25 R. R. Company for the Fiscal year ending May 31st, 1877. CAPITAL STOCK AND LIABILITIES. Capital Stock Interest due on loan of 8 per cent., due March 1st, 1867 Amount of 8 per cent. Mortgage Bonds due November, 1877 Interest due on same Amount of 8 per cent. Mortgage Bonds due November, 1888 Interest due on same...- , Dividend certificates fundable in twenty year S per cent. Mortgage Bonds Dividend No. 9 balance payable in twenty year 8 per cent Mortgage Bonds Amount due on Dividend No. 1 " 10.......'.' «< << II 11 12.'.".'.'.'!.'." " " 13 " << " 14 15.;!;;!.'.' Amount due Other Companies " " Station Agents , " " Individuals " " P. Department " Pay Rolls " Taxes retained " Profit and loss account. 807 99 1(55,500 00 1,380 00 i 210,000 00 1,540 00 186 00 1 336 00 116 OOl 192 00 390 00 270 OO! 498 OOl 399 00 702 OOl 121,260 OOl 259 95 55 34 4,658 21 25 55 4,421 16 683 91 4,000,000 00 —513,681 11 1,031,192 35 $5,544,873 46 J. A. jMcCAULEY, Secretary. 26 PROCEEDINGS OF THE STOCKHOLDERS REPORT OF FINANCE COMMITTEE. Office North Carolina Railroad Company, Company Shops, N. C, June 19th, 1877. To the Stockholders of the N. C. Railroad Co7npany : The Committee of Finance has made the usual exami-nation of the affairs of the company for the year 1877. The Treasurer's account has been examined at the bi-monthly meetings of the conamittee and have ever found the books neatly and accurately kept, all the charges sustained by proper vouchers and the committee take pleasure in commending the diligence, fidelity and cour-tesy of the treasurer and secretary of the company. The bonds of the issue of 1857, due in 1867, amounting to $38,000 have been paid, examined by the committee and cancelled. This measure has been frequently recom-mended by this committe and is now fully approved. ij Amount of ten year bonds due 1st of ITovember, 1877, jj now unpaid is $165,500. These bonds will be provided for by the trustee out of assets of the sinking fund. Amount of twenty 3^ear bonds unpaid and maturing 1st November 1888, is $210,000. We find in the hands of N. H. D. Wilson, trustee, $191,019 70, consisting of the following items, to-wit : NORTH CAROLINA RAILROAD CO, 27 No. 1. Claim on Atlantic, Tennessee and Ohio R. R. ) ^r,o 070 Kr, from Charlotte to Statesville. ] 9<^,o/u 0^ Of this item 848,788 80 is in a Judj^taent, and 124.881 77 is in gold bonds. No. 2. 13 N. C. R. R. Bonds, of the 20 year class 6,000 No. 3. Note R. B. Haywood 3,000 No. 4. " W. A. Graham and R. D. Graham 800 No. 5&6 " R. D. Graham 4,000 and 5,000 9,000 No. 7. Deposit Farmer's and Saving's Bank, Charlotte 5,000 No. 8. Certificate of Deposit Wilson and Shober 25,000 No. 9. " " " 22,000 No. 10. Note Thos. Settle 10,000 No. 11. ' W.F.Bowman 12,000 No. 12. •' V.G.Hundley 4,000 No. 13. 10 U. S. bonds 67's cost 11,64150 No. 14. Deposit in State National Bank Raleigh 7,223 92 No. 15. Cash in hands of Trustee 1,684 71 $191,019 70 The Committee would suggest the exercise of great caution on the part of the trustee in loaning these funds to individuals on collaterals or mortgages. The fluctuat-ing character of collaterals and the very great difficulty of realizing under forced sales of real estate in times like the present, justify in the judgment of the committee, this suggestion to the trustee. The investment of the trustee in the claim on the A. T. & 0. Railroad is approved and highly commended by the committee a,sa wise and judicious use of the fund, as well for ihe intrinsic value of the property as for the col-lateral advantages given to the N. C Railroad by the control of their claim. D. A. DAVIS, Chairman, C. G. YATES, J. H. WELBORN, W. F. HEiTDERSO^^, THOS. B. KEOGH. Names, Shares. Albright, W. R 6 Alexander, Cyrus A 20 Alexander, Alphonso 10 Adams, Peter 29 Albright, J. R 3 Allison, R. W 22 Allison, John 5 Allen, James E 9 Adams, Lynn 2 Adderson," R. Stokes 1 Apple, Lewis J 2 Allison, J. Y 1 Allison, J. P 1 Avery, Mrs. M. Corinna H Alexauder, J. M. gard 17 Andrews, A. B 5 Adams, James H 4 Adams, L, H 2 Albright, D. H 1 Anthony, Sarah J 1 Allen, Laura L 1 Aaron & Rheinstien 1 Armfield, Emsley 1 Brown, Margaret 5 Beal, James F 2 Baker, D. B 1 Burruss, J. T 20 Bellamy, John D 5 Bason, Joseph R 1 Boon, Lewis S 2 Benson, William 1 Bernhardt, M. A 2 Bason, Jere'h 1 Black, John M 1 Barrier, Daniel 5 Barrier, Moses 5 Barrier, Mathias 5 Barnhardt, Jacob C 6 Belo, E 343 Boren, A. P 3 Bane, John 5 Brown, Allen 2 Bingham, W. J 30 Brown, Letitia & Martin Richwine 6 Names. Shaves. Ban-inger, David 27 Branch, L. 0. B 1 BurtcPB 1 Barringer, ]\Iartin L 5 Battle, Kemp P 5 Brown, James N 1 Baile}% Thomas 4 Barringer, C A 1 Boydeii, Nathaniel 10 Barnhardt, G. M 55 Bradford, 'John 3 Barringer. Rufus 37 Blalock, John M 1 Bost. M. L 5 Black, E. C 1 Bowman, G W 2 Brewer, Thomas 2 Bragg. W 2 Blacknall, K 1 Beard, H. H 5 Boyden, John A 1 Berry, John 2 Brown, John L 10 Boylan, Jane 5 Bo'ylan. Kate 10 Boylan, Jolm S. trustee 3 Boylan William M 5 Boylan, John H 7 Barnes, Geo. T. trustee 113 Branch, Thomas 38S Batchelor, J. B 6 Blackmer, Luke 1 Bell,M, T 20 Ball, R. J 1 Borden, E B. adm'r 3 Ballard, B T 30 Branch, Thomas & Co 9 Bulbrd, A. .^ 5 Bullock, B. T. Sr 21 Brevard, Robert A 18 Barringer, Catherine A 1 Bain, Geo. M. Jr 5 Burwell, A. trustee 180 Barnhardt, John M 1 Barnhardt, M. L 1 Names. Shares. Earnhardt, James E. H 4 Barnliardt, M. L, trustee... 1 Branch, M. L. M 5 Barringer, Lewin W, guar.. 16 Barruiger, Lewin W 22 Bank of Greensboro 3.38 Bason, W. F 15 Benbow, D. W. C 5 Bell, Caroline 2 Cochran, It. M 15 Carter, John 25 Cummings, Wm. M 3 Clapp, Daniel F 1 Caldwell, David F 131 Cameron, Mildred C 17 Cameron, Paul C 50 Cannon, E J 5 Cook, Mathias ,.. 3 Carigan, W. A 40 Clouse, William 10 Cobb, John 1 Corsbic, John 1 Cummings, E. F 3 Clapp, Jacob 1 Caldwell, R. C 5 Cook, Thomas E.... 1 ("aims, George A 2 Crump, R R 2 Carson, James H 70 Cable, Israel 2 Caldwell, W. P 5 Charlotte, Columbia & Au-gusta R. R. Co 55 Clapp, John E 2 Caldwell, J. E 2 Cook, Thomas E. executor 16 Cutherell, Joseph T 5 Cole, Stephen W 137 Cobb, Margaret 1 Cramer, Jennie T 17 Clapp, Abram 1 Cowles, Calvin J 1 Couch, A. B 1 Corl, Julia A 1 Cabaniss, Charles I.. 4 Donnell, Edmund 2 Donnell, Wm. & Thomas B 2 Donnell, George 3 Davis, James 3 Deaton, James 5 Donnan, David Jr 3 Donnan, John 3 Dunkin, Wm. C 1 Names. Shares. Dibble & Brothers & W. H. Washington 1 Davis D."a 34 Dobbins, N. M 2 Dawson, J. & Co 5 Dickenson, A. C 1 Dewey, C. F 1 Dewey, Charles 2 Dancy, John 8 11 DeRossette, A. J 30 Drake, Caroline A 27 Davidson, A. Brevard 109 Dick, Mollie G 5 Dick, Mrs. P. P 5 Dick, Anna W 5 Dowd C 7 Dockery, 0. H. & Fannie Settle, his wife 5 Dorland, Luke 7 Darr, Elizabeth A 17 Davis, I. H 1 Davis, L. F 1 Davis, W. K. guar 44 Eccles, Henry 5 Eilers, H. B 1 Erwin, J. J 18 Elias & Cohen 50 Erwin, Charles H 5 Erwin, RichardF 1 Evans, Jane M. ex 2 Evans, A, E 11 Evans, C. N. B 1 Erwin, Elizabeth M 1 Fonville, F. W 1 Faucette, John 1 Fuller. J. N 2 Fink, John 24 Foil ]\Ioses 5 Fries, Francis 114 Fries, Henry 40 Fogleman, Peter 1 Foust, Daniel 3 Fraley, B F 6 Foy, J. M 1 French, G. R 3 Ferrall, Patrick 1 Faucette, George A 5 Freeland, C. J 4 Faucette, J. R 5 Freeland, T. J 3 Fitzgerald, M. B 1 Fraley, Jacob S Fife, W. W 18 Names. Saares Foard. R. W... 33 Foust, Daniel P 9 Fairoloth, W. T.. 5 Foard, T. C 1 Fix, Joseph 2 Foard. Fred C 1 Furr, Paul \V 1 Farmers' iSaviugs Bank 20 Fries, F. H 23 Fries, J. W 5 Fuller, A 1 Gant, Jessee 7 Guthrie, George 1 Graves, Calvin 10 Gilmer, James F 1 Gilmer, Wm. S 1 Gray, Win 2 Graham & Dunn 1 Gorrell, Ralph 11 Guess, W. W" 1 Graliam, W. A 20 Gholson, Thomas 2 Gibson, Sarah E 1 Gheen, G H 1 Green, George 8 Grice, George \V 5 Green, 1\ :> IJ Gluj^as, Thomas 1 Gluyas, William 1 Goodman, Henry 10 Gully, Wm. Gaston 5 Guion, J. A 5 Gregory, Richard J 9 Gray, J. A 11 Graham, John W 5 Graham, William A. Jr 5 Graham, James A 5 GuUey, Joseph P 1 Graham, Susan W 5 Gaithers, Thomas H 1 Graham, Augustus W 5 Hughes, A. G 1 Hazelle, Benuett 14 Holt, E. M 139 Holmes, William 1 Holt, Peter F 1 Holt, Jerry'h 1 Harden. Peter R 1 Holt, Jacob 6 Harris, Kiah P 2 Harder, Joseph 1 Harris, Solomon 5 Harris, William S 5 Names. Shares. Harris, Charles 1 5 Hargravos, Alfred 20 Hedriek, John L lo HedricI:, B. S 3 Hedriek, J. A 3 Harris, T. D 3 Hairston. Peter W 5 Hiatt. Wilson 1 Hiatt, David 1 Hanner. Samuel & Co 5 • Hendrix, James 1 Houston, J. H 10 Hackette J. C 1 Holt, John 1 Heart. Dennis -z Heart, Edwin A 2 Harrison, B P 1 Horah, John M 2 Hoa hman, William 5 Harris, George 3 Heart, Levi A 5 Havwood. George W 4 Hifl, Fred C 1 Holmes, M L 141 Havwood. K. B 5 Hogg. Thmias D 10 llolieniai:. W. H 2 Haywood, Fabias J 10 Hamilton, Robert A 12 Haynes, Wm. H 2 Hoyle, :\[rs E. W 5 Howeli, Josiah 4 Hooker, 5 Holmes. Reuben J 118 Holt, Joseph S 3 Holt, JamesH 1 Holt, Henry 4 Houston, Joseph A 1 Hawkins Phil B lo Hendon, Lydia M 7 Hughes. Samuel W 1 Hoit, C G 3 Heilig, Paul N 40 Hall, Wm J 3 Heathman, John N ' 3 Holt, T. M 24 Holt, W. E 1 Harvey, Mary A 1 Hathaway, J, L 4() Heart, Alice E 1 Huftman, D. W. M 1 Hay, Thomas 5 Heron, William 50 82 LIST OF STOCKHOLDERS Names. Shares. Henderson, W. F 5 Humphrey, L W 75 Hays, M. T 2 Harris, M. A 2 Harris, S. W 5 Holmes. M. L. trustee 5 Howertoii, fc?. W 1 Harris, Hammet 3 Harden, Sarah E 6 Holt, Catherine 3 Hill&Skinker 20 HicLs, W. J 19 Holt, E. M., sons 1 Heilig, Amelia 5 Hauglianoul, Amanda 1 Ipock, Arthur 5_ Irwin, .John F 1 Jones, Pride 1 Jones, Wesley 5 Jones, Kimbro 10 Joli;;sti n, George W 15 Jolmstou, Nancy 1 Johnston, Ljdia 7 Johnston, Charles AV 7 Justice, J. C 16 Johnston, Milas W 3 Johnston, Levi E 1 Johnston, 1). W. C 1 Johnston, William trustee, 120 Johnston, S. H 33 Jones, Dena C 6 Jarvis, A. S 138 Jones, W. 1 Kerr, D. W 5 Kerr, Samuel 5 Kirkland, John U 10 Kahnweiler, S. B 1 King, Elam 2 Kelly. Charles 5 Kirkman, Levin 2 Kerr, Martha J 6 King, Elam guar 3 Kimmons, Dorcas 1 Knox, Mrs. E. H 15 Keogh, T. B 101 Kornegay, W. F 45 Kirkman, James S 1 Lindsey, A. H 1 Lindsey, J, A 2 Long, J. M 11 Lambeth, Jane 2 Lambeth, D. T 13 Logan, J. E. & Isabella 3 Names. Shares. Lindsey, Jesse H 50 Lamb, (J. & J 1 Lamb, Anderson 1 Latta, John C 1 Lattimer, C. M 16 Leslie, Robert 25 Leach, M. W 6 Leach, L. M 1 Lippett, J. J 1 Little, George 2 Latimer, Zebulon 182 London, John R 4 London, Fred Hill 25 Lambeth, R. S 10 Logan, John E 3 Loftii, David 5 Long, F H 5 Long, Helen C 1 Lon'u, Lilly W 1 Long, Fanny 1 Long, Thomas W 1 Lassiter, D. W. ex 4 Lassitor, I). W 4 Leuiiey, H. A. & Edwin Shaver, adm'rs 280 Lemiey, W. A 20 Ligoa, D. P 4 Manaey, Ephrim 13 Manney, Valeutine 13 McCallock, Josiah 3 Moose, Daniel M 1 Moose, John 10 Moose, John F 1 Monan, Wm. P 10 McEachern, J. E 4 Morri.s, P. M 9 Morrison, J E 2 McDonald, John 5 Moss, A. H 3 Mendenhall, Judith J 1 McLean, F. B 2 Mendenhall, Cyrus P 2 McGullock, J. D 1 McLean, J. M. & Co 4 McLean, Thomas G 1 McLean & Co 5 McLean, John M., Jr 1 Miner, James 1 Millis, James N 2 McAdoo, C. N 6 Mendenhall, R. J 1 Mclver, James 3 Mitchell, Elishua 8 NORTH CAROLINA RAILROAD CO. 33 Names. Shares. Mcllwaiue, A. G 15 Millikeu, Eleazer 1 Murdock, William 3 Mears. Gaston 1 McRee, A. C 1 McRae, John 220 IMordecai, George W 80 McRae, Donald 185 Morris, Jere 9 McKee, W. H 1 Martin, John 1 Melchoir, Ciiris 10 Misenheimer, Joseph 10 Moss, Margaret E 1 Moss, Mary Jane 1 Moss, Edmund A 1 Moss, John A 1 Marsh, Edward H 4 Moss, J. B 5 Maloue, John 16 Moore, Dr. J. A 1 McAdoo, John 9 Morehead, J. Turner 9 Myers, W. R 224 McAlister, A. C 1 McPheters, A. M 2 Murray, Albert 2 Morehead, J. L 214 Morehead, Eugene 14 McRae, Donald, guard 22 McRae, Walter G 25 McKinley, Charles D 1 Murphy, Susan W 6 McCubbins, J. S. guar 6 McCubbins. J. S. guar 6 Murchison, K. M 40 Morehead, J. T. jr 5 Mock, Charlotte C 6 Michaux, Richard V 12 Mebane, C. P 2 Morehead, J. T. sr 22 Murray, W. J 2 Mail, A. T 2 Martin, Sarah E 17 Murrow, Joshua S 2 McAden, R. Y 40 Manney, E. adm'r 1 McRary, W. H 22 Newlin, John & Son 10 Neal, Elam 1 Newlin, James 3 Nutt, H 12 NixoQ, N. N 3 5 Names. Shares. Nelson, C. J 1 Norris, Jessee A 5 Neely, Providence 3 Norwood, John W 30 North Carolina Railroad Company 195 Norwood, Rebecca W 1 Overman, William 5 Odell, J. M 2 Patterson, George 1 Parker, J. W 1 Philips, James 5 Poole, W. R 19 Primrose, Eliza guar 5 Palmer, John C 2 Purify, J. L 1 Pharr, H. S 1 Perry, R 1 Peace, William 10 Pharr, Samuel 5 Pharr, Wm. R 7 Plunkett, Francis E 5 Pharr, John . 3 Parker, Henry 5 Parker, Sarah trustee 5 Phifer, John L 1 Pass, J. C 20 Patterson, R. L. guar 10 Pegram, M. P 6 Patterson, R. L. guar 1 Parks, D. C 5 Porter, Mary E 5 Pinnix, Flora A 9 Phipps, Robert 8 2 Pegram, M. P. cashier 40 Pullen, R. S 34 Perry, S 2 Pharr, Isabella V 1 Plant, H. B 209 Ray, Angeletta 5 Reed, Joel 10 Roney, B. F 2 Riley, George 1 Roberts, W. W 1 Rowlett, John 1 Ruffin, P. B 5 Robbins, Ahi 5 Rice, John 1 Roulhac, J. B. G 10 Rumple, Jethro 1 Rice, John adm'r B, H 3 Rice, John adm'r S. T 3 Rankin, Robert C 2 84 LIST OF STOCKHOLDERS Names. ' Shares. Raleigh National Bank 20 Ruffin, T. Jr 1 Reynolds, Hugh 5 Rodman, W. B 40 Rumple, Catherine 1 Reid, Hugh K 4 Royster, Maria P 7 Rountree, R. H 5 Rankin, Louisa M 8 Rankin, Henrietta 1 Rankin, John A. guar 4 Repiton, A. Paul 4 Scott, John 3 Simpson, T. R 1 Smith, It. a 1 Stirewalt, Jacob Jr., guar.. 5 Stirewalt, Jacob Jr 5 Stewart, James A 2 Sellers, Benjamin A 1 Smith, M. D 5 Stafford, John B 5 Stratford, Henry B 2 Stanly, E. R 16 Smedes, Aldert 6 Selby. Thomas H 3 Shinpock, John 5 Strayhorn, Wm F 1 State of North Carolina.. .30,000 Scott, John D 8 Stephenson, David H 1 Sellers, Griffin 2 .strange, Robert 5 Swain, Lyndon 2 Simonton, R. F 7 Smith, W. A 26 Sasser, Millie 20 Sasser, Ellen 20 Smith. Roger A 10 Smith, C. W 10 Scott, John 5 Springs, A. B 150 Ktarbuck, D. H 10 Springs, A. B. Ag't 36 Shaw, Eliza A 1 Springs Richard A 35 Staftbrd, f-am'l Mc 8 Settle, David 1 Smith, E. L.... 1 Sowers, Jacob A 1 Scales, J. 1 10 Spicer, John D 65 Summers, Elizabeth 1 Summers, Narcessia 2 Names. Shares. Strayhorn, Sidney G 2 Smith, Mrs. E L 3 Shaflfner, J. F 25 Swepson, Virginia B 10 Stafford, R. M 2 Smith, Annie 1 Sullivan, N. D 13 Scott, S. K. Ag't 6 Stewart, John 135 Shaw, Eliza J 1 Troleuger, W. H 1 Trolenger, John 28 Trolinger, Jacob T 1 Thompson, Patterson 1 Trolengei', James 1 Tomlinson, Enos 7 Thomas, Jesse 1 Turner, Wilford 29 Taylor, Fisher B Thacker, Isaac 30 Tinnen, David 5 Tinnen, C.C 8 Trott, S. 8 1 Turner, Samuel 2 Tucker, W. H. & R. S 45 TuU, John G 10 The Trustees Sugar Creek Church 5 Turrentine, W. H 2 Turrentine, James A 5 Tetter, Doi'cas S 5 Tate, George W 2 Tate, Hugh A 10 Thomas, R. W 29 Thomas, Mary 18 Thomas W. D 17 Thomas, J. Wesley 84 Thomas, P. C 17 Thomas, H. C 17 The State National Bank of Raleigh 5 Upcliurch, Bartley 1 Unthank, Jennie E 1 Vanbokkelin, A. H 2 Vogler, Julius R 97 Walker, Morgan A 1 White, S. A 1 Watson, E. F 3 White, Sam'lM 1 Watkins, Sam'l 1 White, R. J 1 Winecoff, M 5 Wideuhouse, M 5 NORTH CAROLINA RAILROAD CO. 35 JJames. Shares. Wilson, Isaac 31 White, A. B 1 Winecoff, 11 1 Watson, J. S 1 Wharton, John 5 Wharton, J. C 2 Wiley, Shannon 2 Wilson, William 1 Wharton, David 11 Weatherly, Joseph A 1 Watson, John 1 Webb, Thomas 32 Wilson, Alexander jr 1 Wilkins, Edmund 6 Withers, Thomas 5 Wood, W. A 1 Wright, W. A 5 Wright, Thomas H 10 Watson, J. W. B 50 Wilson, Samuel M 5 Williams, Alfred 3 White, J. B, 1 Womble, Jordan 2 Williams, H 2 White, George W 1 Wilson, Thomas J 5 Walker, Sarah 2 Worth, Daniel 2 Williams, Sarah A 5 Walker, Mary 2 White, C. R. adm'r 5 Wagoner, Simeon 1 Wilson, Robert 1 Names. Shares. Williams. J. S 2 Walker, L. H H Welker, G. W 20 Wilson & Shober 317 Webb, James jr 34 Wiley, S. H 80 Woodson, Obediah 1 Wharton, C. E 10 Weir, Mrs. Susan J 27 Westbrooks, A. C 1 Williams, Margaret C 10 Williams, John G., Prest... 18 Welbourn, John H 20 Williams, John G 1 Wilson, Joseph H 20 White, Harriett N 5 White, Mary P 5 Winstead, W. H 10 Wilson, J. E 1 Webb, Margaret T 1 Williams, Geo. W., Jas. S. Gilbert, F. I. Pelzer, trustees, 50 Young, J. C 1 Yates, C. G 3 Yates, William J 16 Young, W. M 1 Yokely, Jacob M 9 York, N. F 1 York, Lenora H 1 York, A. J. jr 1 York, John F 1 w.^^^:^-^ ^x. ^^j^^^jCj^is^ ^fx^t c^H^i^'i.ytUXj^f^^ ^^f^A |