Proceedings of the ... annual meeting of the stockholders of the Atlantic & North Carolina R.R. Co. |
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REPORTS OF THE OFFICERS OF THE AA$MMM$o. TO THE STOCKHOLDERS AT THEIR 70ft JVmmal (JHeettng HELD AT MOREHEAD CITY, N. C. Thursday, August 7th, 1924 AND PROCEEDINGS OF LAST MEETING ft' ' REPORTS OF THE OFFICERS OF THE JL&MMJo. TO THE STOCKHOLDERS AT THEIR 70S? J^ramal Resting HELD AT MOREHEAD CITY, N. C. Thursday, August 7th, 1924 AND PROCEEDINGS OF LAST MEETING »l S, D\»nn, Printep, New Bern, N. C. Et . Digitized by the Internet Archive in 2011 with funding from Ensuring Democracy through Digital Access (NC-LSTA) http://www.archive.org/details/proceedingsofann1924atla PROCEEDINGS OF THE SIXTY-NINTH ANNUAL MEETING OF THE STOCKHOLDERS OF THE ATLANTIC AND NORTH CAROLINA RAILROAD COMPANY The Sixty-Ninth Annual Meeting of the Stockholders of the Atlantic and North Carolina Railroad Company is held in the Assembly Room of the Atlantic Hotel, at Morehead City, North Carolina, on the first Thursday after the first Monday in August, 1923, it being the 9th day of said month, at 12 o'clock, noon. The meeting is called to order by the President, Dr. J. F. Patterson, who requests Geo. P. Folk, of Raleigh, to act as temporary Chairman, and Geo. Green, of New Bern, as temporary Secretary. The Proxy Committee, through J. F. Parrott, submit the following report, which is read, and, on motion of J. Y. Joyner, unanimously adopted, to-wit : Morehead City, N. C, August 9th, 1923. To the Stockholders of the Atlantic & North Carolina Railroad Company: Gentlemen: We, your Proxy Committee, beg to report that we have ex-amined all proxies presented to us, and find 17,644 shares of stock represented in person and by proxy, entitled to 910 votes, as follows: Shares. Votes. State of North Carolina, by L. W. Tucker, proxy. 12,666 300 County of Craven, by O. A. Kafer, proxy 1,293 136 County of Pamlico, by J. S. Weskett, proxy 202 27 J. Y. Joyner, in person and by proxy 3,217 272 L. H. Cutler, in person and by proxy 168 107 C. L. Ives, in person and by proxy 77 55 Geo. P. Folk, in person 5 3 C. D. Bradham, in person 5 3 Geo. Green, in person 5 3 C. E. Foy, in person 5 3 W. B. Fort, in person 1 1 17,644 910 Respectfully submitted, J. F. PARROTT, C. B. FOY, For Proxy Committee. On motion of J. Y. Joyner the temporary organization is made permanent. On motion of L. H. Cutler the reading of the minutes of the last Annual Meeting, and the Reports of the Offi-cers, and Committees, are dispensed with, the same hav-ing been printed, and distributed among the stock-holders. L. W. Tucker, State Proxy, announces the appoint-ment by the Governor of the following Directors on the part of the State, to-wit : Ernest M. Green, of Craven County. H. D. Bateman, of Wilson County. Mrs. Palmer Jerman, of Wake County. W. B. Blades, of Craven County. Courtney Mitchell, of Lenoir County. W. C. Petty, of Mecklenburg County. D. F. McKinne, of Franklin County. W. H. McElwee, of Wake County. Nominations for Directors on the part of the private stockholders being declared in order, the following are placed in nomination by C. E. Foy, to-wit: J. Y. Joyner, of Lenoir County. L. H. Cutler, of Craven County. Geo. P. Folk, of Wake County. C. L. Ives, of Craven County. There being no other nominations, on motion, nomina-tions were closed, and the Secretary directed to cast the entire vote represented by the private stockholders for the above named gentlemen, which is accordingly done, and they each receiving 610 votes are declared duly elected. Nominations for members of the Finance Committee on the part of the stockholders being declared in order, the following are placed in nomination by C. E. Foy, to-wit: Geo. Green, of Craven County. W. W. Griffin, of Craven County. J. K. Dixon, of Jones County. There being no other nominations, on motion, nomi-nations were closed, and the Secretary directed to cast the entire vote represented in the meeting for the above named gentlemen, which is accordingly done, and they each receiving 910 votes are declared duly elected. The State Proxy announces the appointment by the Governor of W. M. Webb, of Carteret County, and Rev. J. M. Carraway, of Carteret County, as members of the Finance Committee on the part of the State. Nominations for Proxy Committee being declared in order the following are placed in nomination by C. E. Foy, to-wit: 0. A. Kafer, of Craven County. C. B. Foy, of Craven County. W. G. Jones, of Lenoir County. J. F. Parrott, of Lenoir County. E. H. Meadows, of Craven County. There being no other nominations, on motion, nomina-tions were closed, and the Secretary directed to cast the entire vote represented in the meeting for the above named gentlemen, which is accordingly done, and they each receiving 910 votes are declared duly elected. On motion of C. E. Foy, the next Annual Meeting of the stockholders is ordered held at Morehead City, N. C, on the first Thursday after the first Monday ni August, 1924, at 12 o'clock, noon. No further business appearing, on motion, the meeting adjourned. GEO. P. FOLK, Chairman. GEO. GREEN, Secretary. PRESIDENT'S REPORT To the Stockholders of the Atlantic and North Carolina Railroad Company: Gentlemen: I herewith submit my annual report as President of the At-lantic and North Carolina Railroad Company for the fiscal year ending June 30th, 1924. The matter of the funds realized from the insurance on the property belonging to this Company, destroyed by fire in New Bern in December 1922, the same being Warehouse No. 1 and Pier No. 3, to which Dr. J. F. Patterson refers in his annual re-port of July 1923, on retiring from the Presidency of this Com-pany is still outstanding and unfinished. That the Norfolk Southern Railroad Company had and has no legal right under the terms of the lease to use this money so realized toward the erection of a depot at Kinston, and held by the former Attorney of this Road and the Attorney General of this State, is concurred by me as a lawyer; but since the Company has an attorney, the Hon. Walter Siler, the matter was referred to him in August 1923 to meet with Col. W. B. Rodman, General Counsel for the Norfolk Southern Railroad, to the end that the matter be equita-bly disposed of and this Company's rights preserved. No report however has been made by the Attorney to this Company of any final disposition of the matter, and I recommend that the matter be placed in the hands of the Attorney for the Company elected at the August meeting with instructions to bring the matter to some equitable disposition at once. I desire to call your earnest attention to the reports of the Treasurer, Finance Committee, and Expert. It affords me very great pleasure and satisfaction to testify to the very efficient services of Mr. L. H. Cutler, as Director, has rendered this Company in the matter of overlooking the building at Beaufort, leasing and attending to its upkeep, as well as the very great interest he takes in the Company's affairs and well being. Mr. George Green, member of the Finance Committee, is enr titled to the thanks and appreciation of the Company for his very efficient services as such accountant in the interest of the Com-pany. I should be derelect in my duty and certainly do violence to my personal feelings, if I closed this report without extending my personal thanks and appreciation, and I am very sure that of the entire Board of Directors of the Company to Mr. W. Stamps Howard, Secretary-Treasurer of the Company for his invaluable assistance to me personally and officially with reference to the affairs of the Company, and his efficiency and zealous interest in all its business relations. In closing not only this report but my incumbency of the of-fice of President, may I not be permitted to say that holding in-tact this great and valuable property of the State (for in the last analysis it really belongs to the people) and preserving for future generations this incalcubly valuable asset, to the end that one of the State's main arteries of commerce and transportation, con-necting her western possibilities of potential mineral wealth with the only real natural harbor on her coast, is and should be a sacred trust and the powers and duties exercised by its officers should be so exercised as to permit no other possibility than its retention and preservation in the hands of the people, improved, enlarged and extended. Very respectfully submitted, ERNEST M. GREEN, President Atlantic & North Carolina R. R. Co. TREASURER'S REPORT To the Officers and Stockholders of The Atlantic and North Caro-lina Railroad Company: Gentlemen: I submit herewith statement of receipts and disbursements as 6 Secretary-Treasurer of your Company from July 1st, 1923, to June 30th, 1924, inclusive. RECEIPTS Balance on hand 7-l-'23, Dividend Account $ 876.73 Balance on hand 7-l-'23, Organization Account 324.13 Interest on N. C. Bonds. 160.00 Interest on Atl. & N. C. R. R. Co.'s Bonds 90.00 Rent from Beaufort Building 581.25 N. S. Organization Ac 1,200.00 N. S. Rental July 1st, 1923 26,958.00 N. S. Rental January 1st, 1924 26,958.00 Interest on C-D 26.66 C-D Surrendered 1,000.00 TOTAL $58,174.77 DISBURSEMENTS Expense, Refunding Bonds $ 368.83 " Finance Committee 16.04 Geo. R. Dobie, Certified Pub. Accountant.. 50.00 Officers 20.30 Premium on Treasurer's Bond 140.00 " Printing and Adv 75.52 Salaries, President 100.00 " Secretary-Treasurer 650.00 Expert, 1922-23 and 1923-24 200.00 Attorney 50.00 Per diem compensation of Directors 340.00 Interest and Bonus on Atl. & N. C. R. R. Co.'s bonds. . 56.66 Beaufort Building, Repairs and Maint 384.54 Beaufort Building, Taxes 168.50 Dividends July 1st, 1923 22,330.00 Dividends January 1st, 1924 26,815.25 Old Dividends paid 36.00 TOTAL $51,801.64 Balance on hand: July 1st, 1924: Dividend Account $ 504.23 Organization Account 868.90 Certificate of Deposit, Farmers Banking & Trust Co.. . 2,000.00 Three Atl. & N. C. R. R. Co.'s $1,000 Bonds 3,000.00 $6,373.13 $58,174.77 $51,801.64 $ 6,373.13 Respectfully submitted, W. STAMPS HOWARD, Secretary-Treasurer. REPORT OF FINANCE COMMITTEE Tarboro, N. C, July 16th, 1924. To the Officers and Stockholders of the Atlantic & North Carolina Railroad Company: Gentlemen: By direction of your President, I have this day, for and in behalf of the Finance Committee, audited the books of your Sec-retary- Treasurer, Mr. W. Stamps Howard, for the fiscal year from July 1st, 1923 to June 30th, 1924, inclusive, and respectfully submit the following report of receipts and disbursements, as shown by the books of said Secretary-Treasurer, for the period above named, to-wit: RECEIPTS Balance on hand July 1st, 1923 $ 2,200.86 Itemized as follows: Dividend Account $ 876.73 Organization Account 324.13 One 4 per cent interest bearing Certi-cate of Deposit 1,000.00 $2,200.86 Norfolk Southern Railroad (Rental July 1st, 1923) . .$ 26,958.00 Norfolk Southern Railroad (Rental Jan'y 1st, 1924) . 26,958.00 Norfolk Southern Railroad (Organization Fund) .... 1,200.00 Rentals of Beaufort Building 581.25 Interest on $4,000.00 North Carolina 4 per cent bonds 160.00 Interest on $3,000.00 6 per cent first mortgage bonds of A. & N. C. Railroad 90.00 Interest on $1,000.00 4 per cent Certificate of Deposit (converted into cash) 26.66 TOTAL RECEIPTS $ 58,174.77 DISBURSEMENTS July 1923 Dividends paid Stockholders $ 22,330.00 January 1924 Dividends paid Stockholders 26,815.25 Old Dividends paid Stockholders 36.00 Repairs, maintenance and taxes (Beaufort Building) . 553.04 Organization expenses 2,010.69 Purchase of 3 First Mortgage 6 per cent A. & N. C. Railroad Bonds of $1,000.00 each, with bonus and interest 3,056.66 TOTAL DISBURSEMENTS $ 54,801.64 Balance on hand July 1st, 1924 ......$ 3,373.13 Of which balance there is on deposit on open ac-count to the credit of the Atlantic & North Caro-lina Railroad Company in the Farmers Banking & Trust Company, Tarboro, N. C. To Dividend Account $ 504.23 To Organization Account 868.90 1 four per cent Certificate of Deposit issued by said bank 2,000.00 $ 3,373.13- INVESTED FUNDS Your Secretary-Treasurer holds, as the property of your Com-pany, the following securities, which are deposited for safe keep-ing with the Farmers Banking & Trust Company, at Tarboro, N. C, to-wit: 4 North Carolina 4 per cent interest bearing bonds of $1,000.00 each, and 3 First Mortgage 6 per cent interest bearing bonds of the Atlantic & North Carolina Railroad. All of which is respectfully submitted, GEO. GREEN, For Finance Committee. EXPERT'S REPORT July 11th, 1924. To the Stockholders of the Atlantic & North Carolina Railroad Company: Gentlemen : We, the undersigned Experts on the part of the Lessor and Lessee, submit herewith our Annual Report on the condition of your property, which we inspected on Thursday, July 10th, 1924. ROADWAY—The roadway, both in cuts and fills, is being prop-erly maintained. The track is in good condition considering the excessive wet weather. The cleaning of right of way, surfacing, ditching, etc., usually done during the Summer months, is being pushed as rapidly as labor and weather con-ditions will permit. CROSS AND SWITCH TIES—All ties are being properly main-tained. The percentage of good ties in the track is consid-erably in excess inventory attached to lease. The following ties were used in maintenance during the fiscal year 1923-24: Number Cross Ties: of Ties. Value. Main Track 18,784 $16,389.02 Side Tracks 1,876 1,759.80 Total 20,660 $18,148.82 Switch Ties: 44 Sets 4,524.13 Total Value Cross and Switch Ties $22,672.95 RAILS—The rails are in good condition. The following relay rail was used in replacement during the past' year: Tons. Value. Main Tracks 37.762 $ 1,247.28 Side Tracks 38.686 1,269.97 Total 76.448 $ 2,517.25 BRIDGES AND TRESTLES—These structures have received necessary attention to properly maintain them to the 9 strength and service capacity required. During the past year the following material was used in the maintenance of these structures: Lumber used 95,424 Ft. BM. $ 4,001.35 Piling used 2,005 Lin. Ft. 679.40 BUILDINGS—The buildings have been given the necessary atten-tion. A small amount of work is yet to be completed, but the buildings are in very satisfactory condition. All of the station buildings on the line have been painted with the ex-ception of Tuscarora, Cove, Dover and Caswell. The paint-ing of these buildings will be completed during the month of July, 1924. The new Union Station at Kinston, built in co-operation with the Atlantic Coast Line Railroad was completed March 3rd, and was promptly placed in service. The station is of very pleasing design; is of brick construction with asbestos shingle roof—the platforms are of concrete and are covered with canopy in order to protect the public from the weather while reaching the trains. The building is well designed for the purpose, has every convenience and is a very great improvement in passenger facilities at the city of Kinston. The station building and platforms cost approximately $52,000. EQUIPMENT—The equipment valuation as of March 13, 1905, in the inventory at time of lease was $159,900. Equipment has, from time to time, been substituted for the original that has become obsolete or destroyed, and thus the standard has been maintained. A larger number of the freight cars that have been assigned in replacement of the original freight equipment have become obsolete or have reached such condition of repair that they have been dis-carded— some have been destroyed. Having in mind the maintenance of the inventory, we ad-vise that the Norfolk Southern Railroad Company procure the Commercial Trust Company to convey to the Atlantic & North Carolina Railroad Company as Lessor and the Nor-folk Southern Railroad Company as Lessee the following equipment: 147 Ventilated Box Cars, steel underframe, of series 21000 to 21149; 72 Steel Underframe, Flat Cars of series 10200 to 10274; 2 Passenger Cars Nos. 265 and 266; 1 Steel under and upper frame, combination Mail and Baggage Car No. 13 9. These cars have been conveyed to the Atlantic & North Carolina Railroad Company as lessor and the Norfolk South-ern Railroad Company as lessee, in lieu of equipment of equal value described in the inventory referred to in the lease, some of which had already been lost or destroyed and the remainder will shortly be retired from the lease as obso-lete. The value of the cars conveyed to the Atlantic & North Carolina Railroad Company is $206,822.60. With this addition the valuation of the equipment owned by the Atlantic & North Carolina Railroad Co. and under 10 lease to the Norfolk Southern Railroad Company, greatly exceeds the value of that class of equipment as set out in the inventory attached to the lease, and will take care of retirements for sometime in the future. SPURS AND SIDE TRACKS—During the year a spur track was constructed at New Bern, N. C, along the Trent River water front to serve industries and is known as Trent River Indus-trial Track and is 2540 feet in length. The right of way for same was furnished by the Town of New Bern through the efforts of its citizens—the track was constructed by the Nor-folk Southern Railroad Company at a cost of $9780. The total increase in sidetracks during the year was 4775 feet. The increase in value, not including the value of the right of way for Trent River Industrial Track, for which the Railroad Company has sixty years' use under contract, was $21,728. In addition to these improvements, the following betterments were added to the property: Cost. Air Compressor installed at New Bern Shops $ 242.04 Additional bracings on Trent River Trestle, at New Bern, N. C 1,056.35 New electric welding outfit placed in New Bern Shops $490.00 Old welding outfit retired 250.00 Net increase $240.00 240.00 Installed 146 NC Law-Stop Signs at main highway crossings 1,516.10 New culvert was installed near 69th mile post, using 40 ft. of 30" Corr. Galv. Iron Pipe 169.83 Respectfully submitted, T. BODDIE WARD, Expert, Atlantic & North Carolina Railroad Co. F. L. NICHOLSON, Expert, Norfolk Southern Railroad Company. 11 STATEMENT OF TAXES PAID BY NORFOLK SOUTHERN RAILROAD COMPANY ON PROPER-TY OF ATLANTIC & NORTH CAROLINA RAIL-ROAD COMPANY FOR THE YEAR 1923 North Carolina Income Tax $ 1,559.13 United States Government Income Tax 6,496.37 Wayne County 3,297.33 City of Goldsboro 682.67 Lenoir County 9,175.58- City of Kinston 1,714.31 Town of LaGrange 844.69 Jones County 1,200.09 Craven County 17,496.51 Town of Cove 57.37 Town of Dover 126.89 City of New Bern 1,238.75 Carteret County 8,559.12 Town of Newport 90.03 Town of Morehead City 2,493.02 $ 55,031.86 I, M. S. Hawkins, Secretary of the Norfolk Southern Railroad Company, certify that the foregoing is a correct statement of the taxes paid by the Norfolk Southern Railroad Company on prop-erty of the Atlantic & North Carolina Railroad Company for the year 1923. In testimony whereof I hereunto affix my hand and the seal of this Company, this 10th day of July, 19 24. M. S. HAWKINS, (SEAL) Secretary. STATEMENT OF INSURANCE CARRIED ON PROP-ERTY OF ATLANTIC & NORTH CAROLINA RAILROAD COMPANY AS OF JULY 1, 1924. Location. Description. Amount. Goldsboro—New warehouse and office $10,250 Goldsboro—Old warehouse and platform 8,000 Bests—Station and platform 2,500 Fields—Warehouse, platform and shed 500 LaGrange—Platform and shed 1,200 LaGrange—Passenger and freight station 8,050 Falling Creek—Station 700 Falling Creek—Pumphouse and contents • 250 Kinston—Passenger station 8,100 Kinston—Warehouse and platform No. 2 10,000 Kinston—Pumphouse and contents 250 Caswell—Station 1,500. 12 Dover—Station 6,10 Cove—Station 2,650 Cove—Pumphouse and contents 6 50 Tuscarora—Station 2,0 50 Tuscarora—Platform 100 Clarks—Section dwelling 1,500 New Bern—Wharf and canopy, Trent River 3,500 New Bern—Warehouse No. 2, Trent River 25,800 New Bern—Covered platform, Trent River 5,000 New Bern—Platform, Trent River 300 New Bern—Passenger station and sheds 22,500 New Bern—Paint shop and contents 5,50 New Bern—Machine shop, blacksmith shop, boiler and engine room and contents 43,600 New Bern—Planing mill and contents 12,500 New Bern—Carpenter shop 4,450 New Bern—Roundhouse or enginehouse and contents. . 17,000 New Bern—Contents of oilhouse adjoining roundhouse. 1,000 New Bern—Office and store-room 114 South Front St.. . 1,000 New Bern—Yard Master's office 450 New Bern—Trent River Trestle 5,000 Thurman—Station 700 Riverdale—Station 2,000 Croatan—Station and platform 2,000 Havelock—Station 2,000 Havelock—Section houses 1,200 Newport—Station 4,050 Wildwood—Station 700 Mansfield—Station 1,500 Morehead City—Passenger station, Camp Grounds 2,0 50 Morehead City—Passenger Station, Uptown 20,150 Morehead City—Atlantic Hotel, contents and additions, including buildings known as Charlotte Row, Bowling Alley, Laundry and Electric Lighting Plant 23,000 Total $271,300 I, M. S. Hawkins, Secretary of Norfolk Southern Railroad Company, certify that the foregoing is a correct statement of the insurance carried by the Norfolk Southern Railroad Company on property of the Atlantic & North Carolina Railroad Company, as of July 1, 1924. In testimony whereof I hereunto affix my hand and seal of this. Company this 10th day of July, 1924. M. S. HAWKINS, (SEAL) Secretary. 13 LIST OF STOCKHOLDERS OF ATLANTIC & NORTH CAROLINA RAILROAD COMPANY, AS OF JULY 15, 1924 Name. Shares. Allen, James M 2 Allen, Thos. H 1 A. C. L. of Conn 11 Andrews, A. B 1 Arendell, Bridges 1 Aycock, C. B 1 Avery, W. D 2 Barden, Mrs. Agnes Foy 1 Barwick, John H 1 Baxter, Joseph J 1 Bell, D. S 1 Bell, Mary P 1 Bell, Cornelius C 1 Best, M. J 1 Bryan, Washington 34 Bryan, C. S., Trustee for G. McW. B 3 Bryan, C. S., Trustee for M. S. Bryan. ... 3 Bryan, James A 4 Brooks, F. F 1 Briggs, Beulah S 4 Bradham, CD 5 Bowden, B.J 1 Borden, E. B 2 Boney, W. J 1 Boney, D. E 1 Bizzell, J. W 1 Bizzell, K. E 7 Bizzell, M. E 1 Booth, Lee S 1 Booth, Benj. V., Jr 1 Caho, W. T 1 Carraway, Kate L 1 Carraway, Louise E 2 Chapin, Wm. H 1 Chadwick, W. S 5 Chadwick, W. W 10 Chadwick, Mrs. M. F 10 Chadwick, Annie D 1 Citizens Savings & Trust Co 1 Clark, Mrs. W. T 6 Clark, H. J. B 1 Cobb, W. H., Jr 1 Collier, Wm. 1 County of Craven 1293 County of Pamlico 202 Cox, James G 1 Cox, James W 2 Crabtree, Geo. E 3 Crawford, Mary L 2 Cutler, L. H 7 Cutler, L. H., Trustee L. H. C, Jr 1 Cutler, L. H., Trustee Fannie C 2 14 Votes. 1 1 5 1 1 1 1 1 1 1 1 1 1 1 10 2 2 2 1 2 3 1 1 1 1 1 4 1 1 1 1 1 1 1 3 5 5 1 1 3 1 1 1 136 27 1 1 2 1 4 1 1 Name. Shares. Votes. Cutler, L. H., for Roberts, L. C , Cutler, L. H., for Winston, R. H Cutler, Laura D .- Cutler, Bertha B Dalton, Wm. Reid Daniel, Thomas Daniels, Ruby B Davis, A. C, Jr Davis, Geo Davis, Laura G Davis, W. J Davenport, B. B Dees, George Dill, S. L Dortch, Wm. T Dortch, Isaac F Drewry, John C Duffy, Mrs. M. C Duffy, Walter Duncan, E. C Dunn, Wm Dunn, B. R Dunn, Janie B Dewey, Hattie M Dewey, E. B Dunn, Willie A Edwards, John W Ewell, S. E Fairbane, Thomas Falkener, Mrs. Mary M Ferebee, S. W Fields, Mrs. Bettie Fields, Lillian Finley, Chas. B Folk, Geo. P Fort, Willie B Foust, J. H Foy, Annie E Foy, David F Foy, Claudius Paton Foy, Louis Fowler Foy, Elizabeth H Foy, H. A Foy, Ruby L Foy, E. A Foy, C. E Foy, Claudius B Foy, Agnes C Foy, Miss Agnes G Fulford, W. B Garner, L. A Gaskins, W. B Gibson, P Giddens, R. I Gordon, J. W Grantham, J. M Grantham, Gideon E Gray, Mrs. C. L Green, Jno 15 1 1 1 1 1 1 1 1 4 2 1 1 1 1 5 3 40 10 1 1 1 1 5 3 1 1 1 1 1 1 1 1 1 1 2 1 1 1 3095 200 1 1 5 3 5 3 14 6 1 1 5 3 3 2 1 1 2 1 1 1 5 3 1 1 1 1 1 1 5 3 1 1 5 3 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 5 3 16 6 6 3 1 1 1 1 2 1 1 1 3 2 3 2 1 1 1 1 1 1 3 2 1 1 Name. Shares. Votes. •Green, T. A Green, George Griswold, W. J . Griffen, Mrs. L. W Guess, W. W Guion, O. H Guion, Mrs. Pattie R Hall, A. E Hanks, James B Hauff, John F., Jr Harvey, C. F Harvey, Chas. Felix Harvey, Miss May Harvey, Mrs. L Harrison, J. M Harrison, Mary E Hatch, Mrs. G. K Hatch, J. R Haywood, Ernest Henry, Walter Henry, Daniel Hill, Isaac S Henry, D. P Henry, Emma J Hill, Mrs. Sarah L Hines, Lovet Hood, J. E Holt, Mrs. Jane Holt, Robt. R Holt, S. S Home, A Howard, Nelson F Hunter, William Hutton, P. C Hyman, T. B Hyman, T. G Ives, C. L Jackson, J. L Jarvis, T. J Johnson, Alex Jones, Harry Jones, Bertha, Guardian Jones, T. W Jones, W. G Joyner, James Y Joyner, J. Y., Guad. of J. W Joyner, Addie N Joyner, Laura Joyner, W. T Kilpatrick, Henrietta K Kinsey, P. R Kinsey, R. E Kornegay, Mary Evellyn Kornegay, Mabel Wooten Kornegay, W. P Lang, Mrs. W. M Latham, C. H Latham, J. E Lee, Henry 16 1 1 5 3 1 1 1 1 1 1 5 3 20 7 2 1 1 1 1 1 5 3 1 1 2 1 1 1 1 1 3 2 1 1 1 1 5 3 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 1 1 1 1 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 5 3 1 1 5 3 1 1 6 3 3 2 2 1 1 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 4 2 1 1 1 1 1 1 Name. Shares. Votes. Lewis, W. L Loftin, Joel Long, William S Loyall, Geo. R Mallison, T. H Manly, Matt Mathews, Mrs. W. J Mayfield, Robert Hay McCoy, Wm. S McCoy, L. W McDowell, Charles S McGowan, J. C. & S. F McGowan, John S Meadows, Wade Meadows, E. H., Jr Meadows, Sarah L Metts, W. P Metts, Mrs. S. E Mewborne, Estate of Jno. F Miller, Alexander Mitchell, F. G Moore, R. W Moore, W. H Morehead, J. L Moseley, H. E Moseley, Mrs. H. E Moseley, Wiley T Moye, Macon Nason, Albert M Nunn, R. A Oettinger, David Oliver, C. Wooten Oglesby, Mrs. Mary L Palmer, A. B Parker, David Parker, T. B Parrot, Jno. A Parrot, James M Patterson, Mrs. Margaret M Patrick, D. W Perry, D. E Perry, B. L., Admr. of S. S. Becton Perry, J. W Perkins, Miss Annie Peterson, J. E Pollock, Kate Potter, J. H., Sr Powell, D. A Primrose, C. S Primrose, H. S Primrose, R. S Reed, Pattie S Rexford, Geo. C Richardson, H. V Roberts, G. H Roberts, Mrs. Lavinia E Robinson, Geo. Jno Rodman, William B., Jr., Trustee Rosenthal, Elizabeth 17 4 2 1 1 4 2 33 9 2 1 1 1 1 1 1 1 1 1 2 1 2 1 1 1 4 2 3 2 3 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 3 2 1 1 1 1 1 1 1 1 5 • 3 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 12 6 4 2 1 1 1 1 4 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 2 1 4 2 1 1 1 1 1 1 1 1 1 1 2 1 2 1 Name. Shares. Votes. Rouse, Thos. R - 1 1 Rouse, N. J 1 1 Rouse, Mrs. Mattie R 1 1 Rountree, Albert E 2 1 Russell, Levi T 1 1 Russell, R. A 1 1 Sanderlin, Georgia 3 2 Sanderlin, Rosalie 4 2 Salyear, Samuel 1 1 Saunders, E. W 1 1 Simmons, E. M 1 1 Smith, Mrs. Estelle T 1 1 Smith, Jno. L 1 1 Smith, W. H 1 1 Spicer, Miss Clara 1 1 Spilman, B. W 5 3 Stanton, D. M 1 1 State of North Carolina 12666 300 Stanley, E. R 1 1 Stanley, W. F 1 1 Steadman, J. H 1 1 Stewart, J. W 4 2 Street, N. H 1 1 Sutton, Frederick I., Sr 7 4 Sutton, Frederick I., Jr 1 1 Sutton, E. L 1 1 Sutton, William 2 1 Swindell, J. H 1 1 Taylor, J. F 1 1 Taylor, R. W 3 2 Taylor, W. T 1 1 Thomas, Wm. G 1 1 Tolson, Finetta 1 1 Tomlinson, L. A 1 1 Uzzell, T. A 5 3 Wadsworth, Sarah E 1 1 Wagner, J. R 1 1 Walker, Grizella J 1 1 Walker, R. M 1 1 Walker, Farrar & Co 1 1 Washington, George 5 3 Waters, W. R., Estate of 1 1 Waters, Hy. Sr 1 1 Watkins, B. B 1 1 Watkins, J. C 1 1 Webb, W. M 1 1 West, N. W 1 1 West, Annie A 1 1 Weyher, Charlotte W 1 1 Whitford, Bessie 3 2 Whitford, Clark 1 1 Whitford, John D 1 1 Whitford, Mary Vann 2 1 Whitford, Reid 2 1 Whithurst, F. H 6 3 Williamson, Wm. H 5 3 Willis, T. C 1 1 Wilson, Thos 3 2 Wilson, W. S 2 1 18 Name. Shares. Votes. Wilson, Mrs. Mary R 1 1 Wood, Dempsey, Estate of 5 3 Woodard, Fannie R 1 1 Woodard, John E 1 1 Woodard, Graham 1 1 Woodard, Mrs. R. E - 1 1 Wooten, C. S 3 2 Wooten, Eliza R 2 1 Wooten, Ray 2 1 Wooten, Edwin B 1 1 Wooten, Mrs. E. R. & Marston E. B 1 1 Wrenn, T. F 1 1 19
Object Description
Description
Title | Proceedings of the... annual meeting of the stockholders of the Atlantic & North Carolina R.R. Co. |
Other Title | Annual meeting of the stockholders of the Atlantic and North-Carolina Railroad Company. |
Creator | Atlantic and North Carolina Railroad Company. |
Contributor | Williams, William J. |
Date | 1924 |
Subjects |
Atlantic and North Carolina Railroad Company Genealogy Railroads--North Carolina Transportation |
Place | North Carolina, United States |
Time Period | (1900-1929) North Carolina's industrial revolution and World War One |
Description | Imprint varies; |
Publisher | New Bern, N.C. :William J. Williams, printer,1855-1904. |
Rights | State Document see http://digital.ncdcr.gov/u?/p249901coll22,63754 |
Physical Characteristics | 49 v. ;21 cm. |
Collection | Health Sciences Library. University of North Carolina at Chapel Hill |
Type | text |
Language | English |
Format | Annual reports |
Digital Characteristics-A | 882 KB; 30 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 |
Related Items | Atlantic and North Carolina Railroad Company..Reports of the officers of the A. & N.C.R.R. Co. to the stockholders at their... annual meeting |
Audience | All |
Pres File Name-M | pubs_edp_proceedingsatlanticNCRR1924.pdf |
Pres Local File Path-M | \Preservation_content\StatePubs\pubs_edp\images_master\ |
Full Text | REPORTS OF THE OFFICERS OF THE AA$MMM$o. TO THE STOCKHOLDERS AT THEIR 70ft JVmmal (JHeettng HELD AT MOREHEAD CITY, N. C. Thursday, August 7th, 1924 AND PROCEEDINGS OF LAST MEETING ft' ' REPORTS OF THE OFFICERS OF THE JL&MMJo. TO THE STOCKHOLDERS AT THEIR 70S? J^ramal Resting HELD AT MOREHEAD CITY, N. C. Thursday, August 7th, 1924 AND PROCEEDINGS OF LAST MEETING »l S, D\»nn, Printep, New Bern, N. C. Et . Digitized by the Internet Archive in 2011 with funding from Ensuring Democracy through Digital Access (NC-LSTA) http://www.archive.org/details/proceedingsofann1924atla PROCEEDINGS OF THE SIXTY-NINTH ANNUAL MEETING OF THE STOCKHOLDERS OF THE ATLANTIC AND NORTH CAROLINA RAILROAD COMPANY The Sixty-Ninth Annual Meeting of the Stockholders of the Atlantic and North Carolina Railroad Company is held in the Assembly Room of the Atlantic Hotel, at Morehead City, North Carolina, on the first Thursday after the first Monday in August, 1923, it being the 9th day of said month, at 12 o'clock, noon. The meeting is called to order by the President, Dr. J. F. Patterson, who requests Geo. P. Folk, of Raleigh, to act as temporary Chairman, and Geo. Green, of New Bern, as temporary Secretary. The Proxy Committee, through J. F. Parrott, submit the following report, which is read, and, on motion of J. Y. Joyner, unanimously adopted, to-wit : Morehead City, N. C, August 9th, 1923. To the Stockholders of the Atlantic & North Carolina Railroad Company: Gentlemen: We, your Proxy Committee, beg to report that we have ex-amined all proxies presented to us, and find 17,644 shares of stock represented in person and by proxy, entitled to 910 votes, as follows: Shares. Votes. State of North Carolina, by L. W. Tucker, proxy. 12,666 300 County of Craven, by O. A. Kafer, proxy 1,293 136 County of Pamlico, by J. S. Weskett, proxy 202 27 J. Y. Joyner, in person and by proxy 3,217 272 L. H. Cutler, in person and by proxy 168 107 C. L. Ives, in person and by proxy 77 55 Geo. P. Folk, in person 5 3 C. D. Bradham, in person 5 3 Geo. Green, in person 5 3 C. E. Foy, in person 5 3 W. B. Fort, in person 1 1 17,644 910 Respectfully submitted, J. F. PARROTT, C. B. FOY, For Proxy Committee. On motion of J. Y. Joyner the temporary organization is made permanent. On motion of L. H. Cutler the reading of the minutes of the last Annual Meeting, and the Reports of the Offi-cers, and Committees, are dispensed with, the same hav-ing been printed, and distributed among the stock-holders. L. W. Tucker, State Proxy, announces the appoint-ment by the Governor of the following Directors on the part of the State, to-wit : Ernest M. Green, of Craven County. H. D. Bateman, of Wilson County. Mrs. Palmer Jerman, of Wake County. W. B. Blades, of Craven County. Courtney Mitchell, of Lenoir County. W. C. Petty, of Mecklenburg County. D. F. McKinne, of Franklin County. W. H. McElwee, of Wake County. Nominations for Directors on the part of the private stockholders being declared in order, the following are placed in nomination by C. E. Foy, to-wit: J. Y. Joyner, of Lenoir County. L. H. Cutler, of Craven County. Geo. P. Folk, of Wake County. C. L. Ives, of Craven County. There being no other nominations, on motion, nomina-tions were closed, and the Secretary directed to cast the entire vote represented by the private stockholders for the above named gentlemen, which is accordingly done, and they each receiving 610 votes are declared duly elected. Nominations for members of the Finance Committee on the part of the stockholders being declared in order, the following are placed in nomination by C. E. Foy, to-wit: Geo. Green, of Craven County. W. W. Griffin, of Craven County. J. K. Dixon, of Jones County. There being no other nominations, on motion, nomi-nations were closed, and the Secretary directed to cast the entire vote represented in the meeting for the above named gentlemen, which is accordingly done, and they each receiving 910 votes are declared duly elected. The State Proxy announces the appointment by the Governor of W. M. Webb, of Carteret County, and Rev. J. M. Carraway, of Carteret County, as members of the Finance Committee on the part of the State. Nominations for Proxy Committee being declared in order the following are placed in nomination by C. E. Foy, to-wit: 0. A. Kafer, of Craven County. C. B. Foy, of Craven County. W. G. Jones, of Lenoir County. J. F. Parrott, of Lenoir County. E. H. Meadows, of Craven County. There being no other nominations, on motion, nomina-tions were closed, and the Secretary directed to cast the entire vote represented in the meeting for the above named gentlemen, which is accordingly done, and they each receiving 910 votes are declared duly elected. On motion of C. E. Foy, the next Annual Meeting of the stockholders is ordered held at Morehead City, N. C, on the first Thursday after the first Monday ni August, 1924, at 12 o'clock, noon. No further business appearing, on motion, the meeting adjourned. GEO. P. FOLK, Chairman. GEO. GREEN, Secretary. PRESIDENT'S REPORT To the Stockholders of the Atlantic and North Carolina Railroad Company: Gentlemen: I herewith submit my annual report as President of the At-lantic and North Carolina Railroad Company for the fiscal year ending June 30th, 1924. The matter of the funds realized from the insurance on the property belonging to this Company, destroyed by fire in New Bern in December 1922, the same being Warehouse No. 1 and Pier No. 3, to which Dr. J. F. Patterson refers in his annual re-port of July 1923, on retiring from the Presidency of this Com-pany is still outstanding and unfinished. That the Norfolk Southern Railroad Company had and has no legal right under the terms of the lease to use this money so realized toward the erection of a depot at Kinston, and held by the former Attorney of this Road and the Attorney General of this State, is concurred by me as a lawyer; but since the Company has an attorney, the Hon. Walter Siler, the matter was referred to him in August 1923 to meet with Col. W. B. Rodman, General Counsel for the Norfolk Southern Railroad, to the end that the matter be equita-bly disposed of and this Company's rights preserved. No report however has been made by the Attorney to this Company of any final disposition of the matter, and I recommend that the matter be placed in the hands of the Attorney for the Company elected at the August meeting with instructions to bring the matter to some equitable disposition at once. I desire to call your earnest attention to the reports of the Treasurer, Finance Committee, and Expert. It affords me very great pleasure and satisfaction to testify to the very efficient services of Mr. L. H. Cutler, as Director, has rendered this Company in the matter of overlooking the building at Beaufort, leasing and attending to its upkeep, as well as the very great interest he takes in the Company's affairs and well being. Mr. George Green, member of the Finance Committee, is enr titled to the thanks and appreciation of the Company for his very efficient services as such accountant in the interest of the Com-pany. I should be derelect in my duty and certainly do violence to my personal feelings, if I closed this report without extending my personal thanks and appreciation, and I am very sure that of the entire Board of Directors of the Company to Mr. W. Stamps Howard, Secretary-Treasurer of the Company for his invaluable assistance to me personally and officially with reference to the affairs of the Company, and his efficiency and zealous interest in all its business relations. In closing not only this report but my incumbency of the of-fice of President, may I not be permitted to say that holding in-tact this great and valuable property of the State (for in the last analysis it really belongs to the people) and preserving for future generations this incalcubly valuable asset, to the end that one of the State's main arteries of commerce and transportation, con-necting her western possibilities of potential mineral wealth with the only real natural harbor on her coast, is and should be a sacred trust and the powers and duties exercised by its officers should be so exercised as to permit no other possibility than its retention and preservation in the hands of the people, improved, enlarged and extended. Very respectfully submitted, ERNEST M. GREEN, President Atlantic & North Carolina R. R. Co. TREASURER'S REPORT To the Officers and Stockholders of The Atlantic and North Caro-lina Railroad Company: Gentlemen: I submit herewith statement of receipts and disbursements as 6 Secretary-Treasurer of your Company from July 1st, 1923, to June 30th, 1924, inclusive. RECEIPTS Balance on hand 7-l-'23, Dividend Account $ 876.73 Balance on hand 7-l-'23, Organization Account 324.13 Interest on N. C. Bonds. 160.00 Interest on Atl. & N. C. R. R. Co.'s Bonds 90.00 Rent from Beaufort Building 581.25 N. S. Organization Ac 1,200.00 N. S. Rental July 1st, 1923 26,958.00 N. S. Rental January 1st, 1924 26,958.00 Interest on C-D 26.66 C-D Surrendered 1,000.00 TOTAL $58,174.77 DISBURSEMENTS Expense, Refunding Bonds $ 368.83 " Finance Committee 16.04 Geo. R. Dobie, Certified Pub. Accountant.. 50.00 Officers 20.30 Premium on Treasurer's Bond 140.00 " Printing and Adv 75.52 Salaries, President 100.00 " Secretary-Treasurer 650.00 Expert, 1922-23 and 1923-24 200.00 Attorney 50.00 Per diem compensation of Directors 340.00 Interest and Bonus on Atl. & N. C. R. R. Co.'s bonds. . 56.66 Beaufort Building, Repairs and Maint 384.54 Beaufort Building, Taxes 168.50 Dividends July 1st, 1923 22,330.00 Dividends January 1st, 1924 26,815.25 Old Dividends paid 36.00 TOTAL $51,801.64 Balance on hand: July 1st, 1924: Dividend Account $ 504.23 Organization Account 868.90 Certificate of Deposit, Farmers Banking & Trust Co.. . 2,000.00 Three Atl. & N. C. R. R. Co.'s $1,000 Bonds 3,000.00 $6,373.13 $58,174.77 $51,801.64 $ 6,373.13 Respectfully submitted, W. STAMPS HOWARD, Secretary-Treasurer. REPORT OF FINANCE COMMITTEE Tarboro, N. C, July 16th, 1924. To the Officers and Stockholders of the Atlantic & North Carolina Railroad Company: Gentlemen: By direction of your President, I have this day, for and in behalf of the Finance Committee, audited the books of your Sec-retary- Treasurer, Mr. W. Stamps Howard, for the fiscal year from July 1st, 1923 to June 30th, 1924, inclusive, and respectfully submit the following report of receipts and disbursements, as shown by the books of said Secretary-Treasurer, for the period above named, to-wit: RECEIPTS Balance on hand July 1st, 1923 $ 2,200.86 Itemized as follows: Dividend Account $ 876.73 Organization Account 324.13 One 4 per cent interest bearing Certi-cate of Deposit 1,000.00 $2,200.86 Norfolk Southern Railroad (Rental July 1st, 1923) . .$ 26,958.00 Norfolk Southern Railroad (Rental Jan'y 1st, 1924) . 26,958.00 Norfolk Southern Railroad (Organization Fund) .... 1,200.00 Rentals of Beaufort Building 581.25 Interest on $4,000.00 North Carolina 4 per cent bonds 160.00 Interest on $3,000.00 6 per cent first mortgage bonds of A. & N. C. Railroad 90.00 Interest on $1,000.00 4 per cent Certificate of Deposit (converted into cash) 26.66 TOTAL RECEIPTS $ 58,174.77 DISBURSEMENTS July 1923 Dividends paid Stockholders $ 22,330.00 January 1924 Dividends paid Stockholders 26,815.25 Old Dividends paid Stockholders 36.00 Repairs, maintenance and taxes (Beaufort Building) . 553.04 Organization expenses 2,010.69 Purchase of 3 First Mortgage 6 per cent A. & N. C. Railroad Bonds of $1,000.00 each, with bonus and interest 3,056.66 TOTAL DISBURSEMENTS $ 54,801.64 Balance on hand July 1st, 1924 ......$ 3,373.13 Of which balance there is on deposit on open ac-count to the credit of the Atlantic & North Caro-lina Railroad Company in the Farmers Banking & Trust Company, Tarboro, N. C. To Dividend Account $ 504.23 To Organization Account 868.90 1 four per cent Certificate of Deposit issued by said bank 2,000.00 $ 3,373.13- INVESTED FUNDS Your Secretary-Treasurer holds, as the property of your Com-pany, the following securities, which are deposited for safe keep-ing with the Farmers Banking & Trust Company, at Tarboro, N. C, to-wit: 4 North Carolina 4 per cent interest bearing bonds of $1,000.00 each, and 3 First Mortgage 6 per cent interest bearing bonds of the Atlantic & North Carolina Railroad. All of which is respectfully submitted, GEO. GREEN, For Finance Committee. EXPERT'S REPORT July 11th, 1924. To the Stockholders of the Atlantic & North Carolina Railroad Company: Gentlemen : We, the undersigned Experts on the part of the Lessor and Lessee, submit herewith our Annual Report on the condition of your property, which we inspected on Thursday, July 10th, 1924. ROADWAY—The roadway, both in cuts and fills, is being prop-erly maintained. The track is in good condition considering the excessive wet weather. The cleaning of right of way, surfacing, ditching, etc., usually done during the Summer months, is being pushed as rapidly as labor and weather con-ditions will permit. CROSS AND SWITCH TIES—All ties are being properly main-tained. The percentage of good ties in the track is consid-erably in excess inventory attached to lease. The following ties were used in maintenance during the fiscal year 1923-24: Number Cross Ties: of Ties. Value. Main Track 18,784 $16,389.02 Side Tracks 1,876 1,759.80 Total 20,660 $18,148.82 Switch Ties: 44 Sets 4,524.13 Total Value Cross and Switch Ties $22,672.95 RAILS—The rails are in good condition. The following relay rail was used in replacement during the past' year: Tons. Value. Main Tracks 37.762 $ 1,247.28 Side Tracks 38.686 1,269.97 Total 76.448 $ 2,517.25 BRIDGES AND TRESTLES—These structures have received necessary attention to properly maintain them to the 9 strength and service capacity required. During the past year the following material was used in the maintenance of these structures: Lumber used 95,424 Ft. BM. $ 4,001.35 Piling used 2,005 Lin. Ft. 679.40 BUILDINGS—The buildings have been given the necessary atten-tion. A small amount of work is yet to be completed, but the buildings are in very satisfactory condition. All of the station buildings on the line have been painted with the ex-ception of Tuscarora, Cove, Dover and Caswell. The paint-ing of these buildings will be completed during the month of July, 1924. The new Union Station at Kinston, built in co-operation with the Atlantic Coast Line Railroad was completed March 3rd, and was promptly placed in service. The station is of very pleasing design; is of brick construction with asbestos shingle roof—the platforms are of concrete and are covered with canopy in order to protect the public from the weather while reaching the trains. The building is well designed for the purpose, has every convenience and is a very great improvement in passenger facilities at the city of Kinston. The station building and platforms cost approximately $52,000. EQUIPMENT—The equipment valuation as of March 13, 1905, in the inventory at time of lease was $159,900. Equipment has, from time to time, been substituted for the original that has become obsolete or destroyed, and thus the standard has been maintained. A larger number of the freight cars that have been assigned in replacement of the original freight equipment have become obsolete or have reached such condition of repair that they have been dis-carded— some have been destroyed. Having in mind the maintenance of the inventory, we ad-vise that the Norfolk Southern Railroad Company procure the Commercial Trust Company to convey to the Atlantic & North Carolina Railroad Company as Lessor and the Nor-folk Southern Railroad Company as Lessee the following equipment: 147 Ventilated Box Cars, steel underframe, of series 21000 to 21149; 72 Steel Underframe, Flat Cars of series 10200 to 10274; 2 Passenger Cars Nos. 265 and 266; 1 Steel under and upper frame, combination Mail and Baggage Car No. 13 9. These cars have been conveyed to the Atlantic & North Carolina Railroad Company as lessor and the Norfolk South-ern Railroad Company as lessee, in lieu of equipment of equal value described in the inventory referred to in the lease, some of which had already been lost or destroyed and the remainder will shortly be retired from the lease as obso-lete. The value of the cars conveyed to the Atlantic & North Carolina Railroad Company is $206,822.60. With this addition the valuation of the equipment owned by the Atlantic & North Carolina Railroad Co. and under 10 lease to the Norfolk Southern Railroad Company, greatly exceeds the value of that class of equipment as set out in the inventory attached to the lease, and will take care of retirements for sometime in the future. SPURS AND SIDE TRACKS—During the year a spur track was constructed at New Bern, N. C, along the Trent River water front to serve industries and is known as Trent River Indus-trial Track and is 2540 feet in length. The right of way for same was furnished by the Town of New Bern through the efforts of its citizens—the track was constructed by the Nor-folk Southern Railroad Company at a cost of $9780. The total increase in sidetracks during the year was 4775 feet. The increase in value, not including the value of the right of way for Trent River Industrial Track, for which the Railroad Company has sixty years' use under contract, was $21,728. In addition to these improvements, the following betterments were added to the property: Cost. Air Compressor installed at New Bern Shops $ 242.04 Additional bracings on Trent River Trestle, at New Bern, N. C 1,056.35 New electric welding outfit placed in New Bern Shops $490.00 Old welding outfit retired 250.00 Net increase $240.00 240.00 Installed 146 NC Law-Stop Signs at main highway crossings 1,516.10 New culvert was installed near 69th mile post, using 40 ft. of 30" Corr. Galv. Iron Pipe 169.83 Respectfully submitted, T. BODDIE WARD, Expert, Atlantic & North Carolina Railroad Co. F. L. NICHOLSON, Expert, Norfolk Southern Railroad Company. 11 STATEMENT OF TAXES PAID BY NORFOLK SOUTHERN RAILROAD COMPANY ON PROPER-TY OF ATLANTIC & NORTH CAROLINA RAIL-ROAD COMPANY FOR THE YEAR 1923 North Carolina Income Tax $ 1,559.13 United States Government Income Tax 6,496.37 Wayne County 3,297.33 City of Goldsboro 682.67 Lenoir County 9,175.58- City of Kinston 1,714.31 Town of LaGrange 844.69 Jones County 1,200.09 Craven County 17,496.51 Town of Cove 57.37 Town of Dover 126.89 City of New Bern 1,238.75 Carteret County 8,559.12 Town of Newport 90.03 Town of Morehead City 2,493.02 $ 55,031.86 I, M. S. Hawkins, Secretary of the Norfolk Southern Railroad Company, certify that the foregoing is a correct statement of the taxes paid by the Norfolk Southern Railroad Company on prop-erty of the Atlantic & North Carolina Railroad Company for the year 1923. In testimony whereof I hereunto affix my hand and the seal of this Company, this 10th day of July, 19 24. M. S. HAWKINS, (SEAL) Secretary. STATEMENT OF INSURANCE CARRIED ON PROP-ERTY OF ATLANTIC & NORTH CAROLINA RAILROAD COMPANY AS OF JULY 1, 1924. Location. Description. Amount. Goldsboro—New warehouse and office $10,250 Goldsboro—Old warehouse and platform 8,000 Bests—Station and platform 2,500 Fields—Warehouse, platform and shed 500 LaGrange—Platform and shed 1,200 LaGrange—Passenger and freight station 8,050 Falling Creek—Station 700 Falling Creek—Pumphouse and contents • 250 Kinston—Passenger station 8,100 Kinston—Warehouse and platform No. 2 10,000 Kinston—Pumphouse and contents 250 Caswell—Station 1,500. 12 Dover—Station 6,10 Cove—Station 2,650 Cove—Pumphouse and contents 6 50 Tuscarora—Station 2,0 50 Tuscarora—Platform 100 Clarks—Section dwelling 1,500 New Bern—Wharf and canopy, Trent River 3,500 New Bern—Warehouse No. 2, Trent River 25,800 New Bern—Covered platform, Trent River 5,000 New Bern—Platform, Trent River 300 New Bern—Passenger station and sheds 22,500 New Bern—Paint shop and contents 5,50 New Bern—Machine shop, blacksmith shop, boiler and engine room and contents 43,600 New Bern—Planing mill and contents 12,500 New Bern—Carpenter shop 4,450 New Bern—Roundhouse or enginehouse and contents. . 17,000 New Bern—Contents of oilhouse adjoining roundhouse. 1,000 New Bern—Office and store-room 114 South Front St.. . 1,000 New Bern—Yard Master's office 450 New Bern—Trent River Trestle 5,000 Thurman—Station 700 Riverdale—Station 2,000 Croatan—Station and platform 2,000 Havelock—Station 2,000 Havelock—Section houses 1,200 Newport—Station 4,050 Wildwood—Station 700 Mansfield—Station 1,500 Morehead City—Passenger station, Camp Grounds 2,0 50 Morehead City—Passenger Station, Uptown 20,150 Morehead City—Atlantic Hotel, contents and additions, including buildings known as Charlotte Row, Bowling Alley, Laundry and Electric Lighting Plant 23,000 Total $271,300 I, M. S. Hawkins, Secretary of Norfolk Southern Railroad Company, certify that the foregoing is a correct statement of the insurance carried by the Norfolk Southern Railroad Company on property of the Atlantic & North Carolina Railroad Company, as of July 1, 1924. In testimony whereof I hereunto affix my hand and seal of this. Company this 10th day of July, 1924. M. S. HAWKINS, (SEAL) Secretary. 13 LIST OF STOCKHOLDERS OF ATLANTIC & NORTH CAROLINA RAILROAD COMPANY, AS OF JULY 15, 1924 Name. Shares. Allen, James M 2 Allen, Thos. H 1 A. C. L. of Conn 11 Andrews, A. B 1 Arendell, Bridges 1 Aycock, C. B 1 Avery, W. D 2 Barden, Mrs. Agnes Foy 1 Barwick, John H 1 Baxter, Joseph J 1 Bell, D. S 1 Bell, Mary P 1 Bell, Cornelius C 1 Best, M. J 1 Bryan, Washington 34 Bryan, C. S., Trustee for G. McW. B 3 Bryan, C. S., Trustee for M. S. Bryan. ... 3 Bryan, James A 4 Brooks, F. F 1 Briggs, Beulah S 4 Bradham, CD 5 Bowden, B.J 1 Borden, E. B 2 Boney, W. J 1 Boney, D. E 1 Bizzell, J. W 1 Bizzell, K. E 7 Bizzell, M. E 1 Booth, Lee S 1 Booth, Benj. V., Jr 1 Caho, W. T 1 Carraway, Kate L 1 Carraway, Louise E 2 Chapin, Wm. H 1 Chadwick, W. S 5 Chadwick, W. W 10 Chadwick, Mrs. M. F 10 Chadwick, Annie D 1 Citizens Savings & Trust Co 1 Clark, Mrs. W. T 6 Clark, H. J. B 1 Cobb, W. H., Jr 1 Collier, Wm. 1 County of Craven 1293 County of Pamlico 202 Cox, James G 1 Cox, James W 2 Crabtree, Geo. E 3 Crawford, Mary L 2 Cutler, L. H 7 Cutler, L. H., Trustee L. H. C, Jr 1 Cutler, L. H., Trustee Fannie C 2 14 Votes. 1 1 5 1 1 1 1 1 1 1 1 1 1 1 10 2 2 2 1 2 3 1 1 1 1 1 4 1 1 1 1 1 1 1 3 5 5 1 1 3 1 1 1 136 27 1 1 2 1 4 1 1 Name. Shares. Votes. Cutler, L. H., for Roberts, L. C , Cutler, L. H., for Winston, R. H Cutler, Laura D .- Cutler, Bertha B Dalton, Wm. Reid Daniel, Thomas Daniels, Ruby B Davis, A. C, Jr Davis, Geo Davis, Laura G Davis, W. J Davenport, B. B Dees, George Dill, S. L Dortch, Wm. T Dortch, Isaac F Drewry, John C Duffy, Mrs. M. C Duffy, Walter Duncan, E. C Dunn, Wm Dunn, B. R Dunn, Janie B Dewey, Hattie M Dewey, E. B Dunn, Willie A Edwards, John W Ewell, S. E Fairbane, Thomas Falkener, Mrs. Mary M Ferebee, S. W Fields, Mrs. Bettie Fields, Lillian Finley, Chas. B Folk, Geo. P Fort, Willie B Foust, J. H Foy, Annie E Foy, David F Foy, Claudius Paton Foy, Louis Fowler Foy, Elizabeth H Foy, H. A Foy, Ruby L Foy, E. A Foy, C. E Foy, Claudius B Foy, Agnes C Foy, Miss Agnes G Fulford, W. B Garner, L. A Gaskins, W. B Gibson, P Giddens, R. I Gordon, J. W Grantham, J. M Grantham, Gideon E Gray, Mrs. C. L Green, Jno 15 1 1 1 1 1 1 1 1 4 2 1 1 1 1 5 3 40 10 1 1 1 1 5 3 1 1 1 1 1 1 1 1 1 1 2 1 1 1 3095 200 1 1 5 3 5 3 14 6 1 1 5 3 3 2 1 1 2 1 1 1 5 3 1 1 1 1 1 1 5 3 1 1 5 3 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 5 3 16 6 6 3 1 1 1 1 2 1 1 1 3 2 3 2 1 1 1 1 1 1 3 2 1 1 Name. Shares. Votes. •Green, T. A Green, George Griswold, W. J . Griffen, Mrs. L. W Guess, W. W Guion, O. H Guion, Mrs. Pattie R Hall, A. E Hanks, James B Hauff, John F., Jr Harvey, C. F Harvey, Chas. Felix Harvey, Miss May Harvey, Mrs. L Harrison, J. M Harrison, Mary E Hatch, Mrs. G. K Hatch, J. R Haywood, Ernest Henry, Walter Henry, Daniel Hill, Isaac S Henry, D. P Henry, Emma J Hill, Mrs. Sarah L Hines, Lovet Hood, J. E Holt, Mrs. Jane Holt, Robt. R Holt, S. S Home, A Howard, Nelson F Hunter, William Hutton, P. C Hyman, T. B Hyman, T. G Ives, C. L Jackson, J. L Jarvis, T. J Johnson, Alex Jones, Harry Jones, Bertha, Guardian Jones, T. W Jones, W. G Joyner, James Y Joyner, J. Y., Guad. of J. W Joyner, Addie N Joyner, Laura Joyner, W. T Kilpatrick, Henrietta K Kinsey, P. R Kinsey, R. E Kornegay, Mary Evellyn Kornegay, Mabel Wooten Kornegay, W. P Lang, Mrs. W. M Latham, C. H Latham, J. E Lee, Henry 16 1 1 5 3 1 1 1 1 1 1 5 3 20 7 2 1 1 1 1 1 5 3 1 1 2 1 1 1 1 1 3 2 1 1 1 1 5 3 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 1 1 1 1 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 5 3 1 1 5 3 1 1 6 3 3 2 2 1 1 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 4 2 1 1 1 1 1 1 Name. Shares. Votes. Lewis, W. L Loftin, Joel Long, William S Loyall, Geo. R Mallison, T. H Manly, Matt Mathews, Mrs. W. J Mayfield, Robert Hay McCoy, Wm. S McCoy, L. W McDowell, Charles S McGowan, J. C. & S. F McGowan, John S Meadows, Wade Meadows, E. H., Jr Meadows, Sarah L Metts, W. P Metts, Mrs. S. E Mewborne, Estate of Jno. F Miller, Alexander Mitchell, F. G Moore, R. W Moore, W. H Morehead, J. L Moseley, H. E Moseley, Mrs. H. E Moseley, Wiley T Moye, Macon Nason, Albert M Nunn, R. A Oettinger, David Oliver, C. Wooten Oglesby, Mrs. Mary L Palmer, A. B Parker, David Parker, T. B Parrot, Jno. A Parrot, James M Patterson, Mrs. Margaret M Patrick, D. W Perry, D. E Perry, B. L., Admr. of S. S. Becton Perry, J. W Perkins, Miss Annie Peterson, J. E Pollock, Kate Potter, J. H., Sr Powell, D. A Primrose, C. S Primrose, H. S Primrose, R. S Reed, Pattie S Rexford, Geo. C Richardson, H. V Roberts, G. H Roberts, Mrs. Lavinia E Robinson, Geo. Jno Rodman, William B., Jr., Trustee Rosenthal, Elizabeth 17 4 2 1 1 4 2 33 9 2 1 1 1 1 1 1 1 1 1 2 1 2 1 1 1 4 2 3 2 3 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 3 2 1 1 1 1 1 1 1 1 5 • 3 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 12 6 4 2 1 1 1 1 4 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 2 1 4 2 1 1 1 1 1 1 1 1 1 1 2 1 2 1 Name. Shares. Votes. Rouse, Thos. R - 1 1 Rouse, N. J 1 1 Rouse, Mrs. Mattie R 1 1 Rountree, Albert E 2 1 Russell, Levi T 1 1 Russell, R. A 1 1 Sanderlin, Georgia 3 2 Sanderlin, Rosalie 4 2 Salyear, Samuel 1 1 Saunders, E. W 1 1 Simmons, E. M 1 1 Smith, Mrs. Estelle T 1 1 Smith, Jno. L 1 1 Smith, W. H 1 1 Spicer, Miss Clara 1 1 Spilman, B. W 5 3 Stanton, D. M 1 1 State of North Carolina 12666 300 Stanley, E. R 1 1 Stanley, W. F 1 1 Steadman, J. H 1 1 Stewart, J. W 4 2 Street, N. H 1 1 Sutton, Frederick I., Sr 7 4 Sutton, Frederick I., Jr 1 1 Sutton, E. L 1 1 Sutton, William 2 1 Swindell, J. H 1 1 Taylor, J. F 1 1 Taylor, R. W 3 2 Taylor, W. T 1 1 Thomas, Wm. G 1 1 Tolson, Finetta 1 1 Tomlinson, L. A 1 1 Uzzell, T. A 5 3 Wadsworth, Sarah E 1 1 Wagner, J. R 1 1 Walker, Grizella J 1 1 Walker, R. M 1 1 Walker, Farrar & Co 1 1 Washington, George 5 3 Waters, W. R., Estate of 1 1 Waters, Hy. Sr 1 1 Watkins, B. B 1 1 Watkins, J. C 1 1 Webb, W. M 1 1 West, N. W 1 1 West, Annie A 1 1 Weyher, Charlotte W 1 1 Whitford, Bessie 3 2 Whitford, Clark 1 1 Whitford, John D 1 1 Whitford, Mary Vann 2 1 Whitford, Reid 2 1 Whithurst, F. H 6 3 Williamson, Wm. H 5 3 Willis, T. C 1 1 Wilson, Thos 3 2 Wilson, W. S 2 1 18 Name. Shares. Votes. Wilson, Mrs. Mary R 1 1 Wood, Dempsey, Estate of 5 3 Woodard, Fannie R 1 1 Woodard, John E 1 1 Woodard, Graham 1 1 Woodard, Mrs. R. E - 1 1 Wooten, C. S 3 2 Wooten, Eliza R 2 1 Wooten, Ray 2 1 Wooten, Edwin B 1 1 Wooten, Mrs. E. R. & Marston E. B 1 1 Wrenn, T. F 1 1 19 |