f ^
Library
OF THE
University of NortK Carolina
This book was presenteti by
Members of the family of the late
COL. A. B. ANDREWS
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This bookmust not be
taken from the Library
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^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
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