North Carolina Ste
Raleigh
H C
PROCEEDINGS OF STOCKHOLDERS
OF
lorth Carolina Railroad
Seventy-first Annual Meeting
July 14, 1921
Worth Carolina Railroad
Company
PROCEEDINGS OF THE STOCKHOLDERS
Seventy-first Annual Meeting
3f«®nsb®f@g H@rtfi ©«p@iina
July 14, 1921
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PROCEEDINGS
STOCKHOLDERS' MEETING
O. Henry Hotel, Greensboro, N. C.
July 14, 1921
Tn accordance with the by-laws and after notice regularly given,
the stockholders of the North Carolina Eailroad Company met in the
City of Greensboro, N. C, at twelve o'clock, noon, July 14, 1921.
Col. Webb moved that W. T. Hollowell of Goldsboro, be called to
the chair, which motion was seconded and unanimously adopted.
Mr. Hollowell came to the chair, and asked Secretary R. B. White
to re-cord the minutes of the meeting. The Chairman then called for
the report of the Proxy Committee, appointed at the annual meeting
of 1920, to-wit: Messrs. C. D, Benbow, L. M. Michaux and C. G.
Wright, thereupon Mr. Michaux for the Committee, reported as
follows:
Private stock represented in person 682
Private stock represented by proxy 5,639
Total private stock represented 6,321
The Proxy Committee reported also that stock owned by the
State was re-presented by the State's Proxy, to-wit: 30,002 shares.
Chairman Hollowell called upon the State 's Proxy to present his
credentials and thereupon Mr. Ben J. Smith presented his Commission
signed by Cameron Morrison, Governor. The Chairman then an-nounced
that there was a quorum present and that the meeting was
duly organized for the transaction of business.
Upon request of the Chairman, the Secretary then read the
minutes of the 1920 stockholders meeting, which, without objections
were approved.
President W. H. Wood then read his report and submitted the
reports of the Secretary and Treasurer, the Finance Committee, the
Land Committe-e and the Expert, the same being printed on advance
sheets and were passed around among the stockholders.
Col. Cameron moved that the several reports be accepted and
printed in pamphlet form along with the proceedings of this meeting.
The Chairman announced that the election of Directors was in or-der,
consisting of twelve, four (4) on part of private stock and eight
(8) on part of the state. /
Mr. Michaux nominated for directors on the part of the private
PROCEEDINGS OF TH K STOCKHOLDERS
stockholders, Col. Bennehan Cameron, Mr. Hugh MacRae, Col. Alex
Webb and Mr. W. E. Holt, Jr., and there were no further nominations.
The Chairman asked the Proxy Committee to collect and cast the vote
and thereupon Mr. Michaux on behalf of the Proxy Committee east
6,321 votes for the four persons above named, and the Chairman de-clared
them duly elected Directors for the ensuing year.
Mr. Ben J. Smith, State's Proxy, then placed in nomination on the
part of the State for Directors: Messrs. John F. Bowles, W. T. Brown,
Wade H. Harris, C. W. Johnston, Robert Lassiter, R. W. H. Stone,
Will Weill and Gilbert C. White, and there were no further nomi-nations,
and thereupon Mr. Smith cast the vote represented by the
State's Stock, to-wit: 30,002 shares, for the aforesaid persons, and
the Chairman declared that they had been duly elected Directors of
the Company for the ensuing year.
The Chairman then announced that the election of a Finance
Committee on the part of the Statei was in order and the State's
Proxy nominated and cast the vote of the State for Messrs. F. S.
Lambeth, of Thomasville, W. T. Hollowell, of Goldsboro, Frank P.
Tate, of Morganton, and E. C. Smith, of Raleigh, and the Chairman
announced that they had been duly elected.
Col. Cameron moved the election of a Proxy Committee for the
next annual meeting. The result of said election is Mr. L. M.
Michaux, of Goldsboro, Mr. C. D. Benbow, of Greensboro, and Mr.
C. G. Wright, of Greensboro.
There being no further business, upon motion the meeting ad-journed,
extending the thanks of the Stockholders to Mr. W. T.
Hollowell for his services as Chairman of the meeting.
(Signed) W. T. HOLLOWELL, Chairman
R. B. WHITE, Secretary
NORTH CAROLINA RAILROAD
PRESIDENT'S REPORT
North Carolina Railroad Company,
President 's Office.
Burlington, N. C, July 14, 1921.
To the Stockholders and to the Board of Directors of the North Caro-lina
Railroad Company:
Gentlemen:
—
I beg to submit herewith for your consideration the reports of
your officers and committees; Secretary and Treasurer, Finance Com-mittee,
Land Committee and Expert. These reports all sliow the
Company to be in good condition in every particular.
Respectfully submitted,
W. H. WOOD, President.
SECRETARY AND TREASURER'S REPORT
Burlington, N. C, July 14, 1921.
To Hon. W. H. Wood, President, and to the- Board of Directors of the
North Carolina Railroad Company:
Gentlemen:
I herewith submit the annual statement of the North Carolina
Railroad Company, showing the financial condition for the fiscal year
ending May 31, 1921, also statement of receipts and disbursements of
the Company for the same period.
Very respectfully,
R. B. WHITE, Sec 'y and Treas.
PROCEEDINGS OK TMK STOCKHOLDERS
REPORT OF LAND COMMITTEE
To Hon. W. H. Wood, President, and to the Board of Directors of the
North Carolina Railroad Company:
The Land Committee beg- to report that since last meeting of the
Stockholders there has been paid into the Treasury for lots sold in
the City of Burlington, N. C, the net sum of 5,877.18 prior to May 31st.
Respectfully submitted,
ALEXANDER WEBB,
W. T. BROWN,
J. P. YOUNT,
Land Committee.
NORTH CAROLINA' RAILROAD
Receipts
Prom Lease of Road $286,000.00
From Lease Union Pass. Sta., Raleigh, N. C. . . 988.79
Prom Sale of Real Estate 5,877.18
Prom Dividend 15.00
From Interest on Cert, of Deposit 816.30
From Cash on Hand June 1, 1920 34,556.64
328,253.91
Disbursements
Dividends Paid $299,925.00
Salaries—Clerk Hire 4,600.08
Expenses Directors ' Meetings 620.00
Incidentals 679.68
Taxes 454.08
Cash on Hand June 1, 1921 21,975.07
$328,253.91
Assets
Construction and Equipment $4,975,627.53
State University Railroad Stock 5,000.00
N. C. Railroad Stock , 250.00
Cash Assets
Dividend Tax 17.95
Bills Receivable 300.00
Cash on Hand June 1, 1921 21.975.07
$5,003,170.55
Liabilities
Capital Stock $4,000,000.00
Profit and Loss 859,075.55
Floating Debts
Dividend Certificates 108.00
Unpaid Dividends 3,952.00
3V2 % on Dividend No. 59, due Aug 1, 1921 140,035.00
$5,003,170.55
8 PROCEEDINGS OF THE STOCKHOLDERS
REPORT OF FINANCE COMMITTEE
Burlington, N. C, June 24, 1921.
To Hon. W. H. Wood, President, and to the Board of Directors of the
North Carolina Railroad Company:
Your Finance Committee has examined the books and vouchers
of the Secretary and Treasurer, Mr. R. B. White, from June 21, 1920
to May 31, 1921, and find receipts and disbursements as follows:
Balance on hand June 1, 1920 $ 34,556.64
Received from Southern Railway Co 286,000.00
Received from S. A. L 988.79
•Received from Real Estate 6,347.80
Received from Interest 816.30
Received from Dividend 15.00
8,724.53
Disbursements
Dividends Paid $299,925.00
General Expenses 6,353.84
Commissions Sale of Real Estate 470.62
Balance June 1, 1921 21,975.07
$328,724.53
NORTH CAROLINA RAILROAD
The- balance on hand of $21,975.07 is deposited as follows:
Certificates of Deposit
The Citizens Bank, Franklinton, N. C, $1,500.00
The Citizens Bank, Franklinton, N. C 2,000.00
The Citizens Bank, Franklinton, N. C 1,750.00
Farmers National Bank, Louisburg, N. C 1,000.00
Farmers & Merchants Bank, Louisburg, N. C 1,000.00
The First National Bank, Louisburg, N. C 1,000.00
The Bank of Wake, Wake Forest, N. C 1,000.00
The Bank of Wake, Wake Forest, N. C 1,000.00
The City Bank, Raleigh, N. C 1,000.00
Alamance Insurance & Real Estate Co. Burlington, N. C 4,000.00
The Citizens Bank, Wake Forest, N. C 2,000.00
Deposited Commercial Nat. Bank, Raleigh, N. C 3,120.29
Deposited Merchants Nat, Bank, Raleigh, N. C 265.47
Deposited Citizens Bank, Franklinton, N. C 1.200.00
Cash on Hand 139.31
$21,975.07
We have examined and verified the stock book and dividend book
and find same correct.
Respectfully submitted,
W. T. HOLLOWELL
FRANK P. TATE
F. S. LAMBETH
Finance Committee
Danville, Va., November 23, 1920.
PROCEEDINGS OF THE STOCKHOLDERS
Mr. Fairfax Harrison,
President, Southern Railway System,
Washington, D. C.
Mr. W. H. Wood,
President, North Carolina Railroad Company,
Charlotte, North Carolina.
Gentlemen:
—
One of the terms of the lease of the North Carolina Railroad to
the Southern Railway Company is that a representative from each
Company shall make a joint annual inspection of the property leased.
We respectfully submit below a report showing result of our in-spection
made this the twenty-third day of November, 1920:
RAIL:
Between Miles
M. P. and M. P. Laid
HI H- 2 0. 5
H-125 H-126 0. 5
374 375 .59
Weight New or
Yard Relay Releasing
851b New 801b
851b Relay 601b
851b New 851b
NORTH CAROLINA RAILROAD
BALLAST:
Between
M. P. and M. P. Kind Cubic Yards
H- 2 H- 5 Gravel 360
H- 7 H- 9 Gravel 320
H- 11 H- 15 Gravel 400
H- 17 H- 21 Gravel 320
H- 22 H- 25 Gravel 360
H- 27 H- 31 Gravel 400
H- 29 H- 30 Chatts 22
H- 33 H- 37 Gravel 360
H- 40 H- 43 Gravel 320
H- 45 H- 48 Gravel 360
H- 49 H- 52 Gravel 320
H- 58 H- 61 Gravel 360
H- 63 H- 68 Gravel 400
H- 69 H- 71 Gravel 360
H- 73 H- 75 Gravel 320
H- 77 H- 79 Gravel 200
H- 83 H- 87 Gravel 400
H- 90 H- 94 Gravel 365
302 304 Gravel 320
305 307 Gravel 320
309 312 Gravel 595
313 315 Gravel 360
317 319 Gravel 360
321 323 Gravel 200
312 313 Storje 90
313 314 Stone 90
316 317 Stone 90
325 326 Stone 118
340 341. Chatts 160
342 343 Chatts 120
345 346 Chatts 80
347 348 Chatts 150
355 356 Chatts 520
357 358 Chatts 200
359 360 Chatts 160
364 365 Chatts 40
367 368 Chatts 40
PROCEEDINGS OF THE STOCKHOLDERS
SUMMARY:
SIDE TRACKS—INDUSTRIAL:
Cubic Yard;
Gravel 8,090
Chatts 1,492
Stone 388
Total 9,970
New or
Location For Whom Extension Length
Raleigh Internation Vegetable
Oil Company New 503 ft.
Lexington Noll Construction Co. New 436 ft.
Lexington Noll Construction Co. Extension 150 ft.
Greensboro Piedmont Ice and Coal
Company Extension 148 ft.
Burlington Standard Oil Company New 441 ft.
Pomona Vick Chemical Company New 335 ft.
Kannapolis Cannon Manufacturing
Company Extension 88 ft
Salisbury R. M. Hudson Company Extension 155 ft.
Salisbury Rowan Cotton Mills New 875 ft.
SIDE TRACKS—COMPANY:
Location Kind
New or
Extension
Total
Length
NOTHING TO REPORT
CROSS TIES:
Renewals.
Main Line Side Tracks
New Construction
Main Line Side Tracks
100,118 22,445
SWITCH TIES:
Renewals
Main Line Side Tracks
None 1,716
New Construction
Main Line Side Tracks
145,470 feet 218,445 feet 9,139 feet 17,860 feet
NORTH CAROLINA RAILROAD
TRESTLES:
Location Nature of Work
Mile
Mile
Mile
Mile
Mile
Mile
Mile
Mile-
Mile
Mile
Mile
Mile
Post H-Post
H-Post
H-Post
H-Post
H
Post n-
Post H-Post
H-Post
H-Post
H
Post H-106.5
Post H-127.5
25.7
27.6
41.0
41.5
42.5
43.4
43.5
46.2
55.4
91.0
BRIDGES:
Location
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Nature of Work
Mile
Mile
Mile
Mile
Mile
Mile
Mile
Mile
Mile
Mile
Post H- 6.1
Post H- 25.7
Post H- 27.6
PostH- 68.9
Post H- 81.3
Post H- 81.4
Post H- 82.6
Post 326.4 .
Post 330.0
Post 365.7
Repairs
Repairs
Repairs
Repairs
Repairs
Re-pairs
Repairs
Repairs
Repairs
Repairs
PEOCEEDINGS OF THE STOCKHOLDERS
BUILDINGS:
Location Kind Nature of Work
Goldsboro, N. C. Engineer's wash room Repairs
Goldsboro, N. C. Cinder pit Repairs
Goldsboro, N. C. Stock pens Repairs
Goldsboro, N. C. Section house Repairs
Goldsboro, N. C. Freight Platform Repairs
Selma, N. C. Yard office Repairs
Selma, N. C. Freight Platform Repair.;
Selma, N. C. Coal Chute Repairs
Selma, N. C. Dry Closets Repairs
Selma, N. C. Depot Repairs
Wilson's Mills, N. C. Cotton Platform Repairs
Wilson's Mills, N. C. Depot Repairs
Clayton, N. C. Freight Re-pairs
Ealeigh, N. C. Platform Union Station Repairs
Raleigh, N. C. Section House Repairs
Gary, N. C. Tool House Repairs
Durham, N. C. Freight Platform Repairs
Durham, N. C. Sand (House Repairs
Durham, N. C. Union Station Repairs
University, N. C. Section House Repairs
University, N. C. Depot Repairs
Hillsboro, N. -C. Dry Closets Repairs
Hillsboro, N. C. Section House Repairs
Efland, N. C. Dry Closets Repairs
Efland, N. C. Freight Depot Repairs
Mebane, N. C. Section House Repairs
Haw River, N. C. Section House Repairs
Haw River, N. C. Depot Repairs
Graham, N. C. Depot Repairs
Burlington, N. C. Cattle Pen Repairs
Burlington, N. C. Dry Closets Repairs
Glen Raven, N. C. Dry Closets Repairs
Glen Raven, N. C. Depot Repairs
Elon College-, N. C. Dry Closets Repairs
Elon College, N. C. Section House Repairs
Gibsonville, N. C. Depot Repairs
McLeansville, N. C. Section House Repairs
NORTH CAROLINA RAILROAD
Four Mile, N. C. Section House Repairs
Hill Top, N. C. Section House Repairs
High Point, N. C. Platform Repairs
High Point, N. CL Section House Repairs
High Point, N. C. Platform Fence Repairs
High Point, N. C. Passenger Depot Repairs
Thomasville, N. C. Section House Repairs
Thomasville, N. C. Depot Repairs
Lake, N. C. Depot Repairs
L;.ke, N. C. Waiting Shed Repairs
Lexington, N. C. Tool House Repairs
Lexington, N. C. Section House Repairs
Lexington, N. C. Platform Repairs
Lexington, N. C. Baggage Room Repairs
Lexington, N. C. Depot Repairs
Linwood, N. C. Depot Repairs
Linwood, N. C. Section House Repairs
Linwood, N. C. Tool House Repairs
Holtsburg, N. C. Waiting Shed Repairs
Spencer, N. C. Depot Repairs
Salisbury, N. C. Freight Depot Repairs
China Grove, N. C. Depot Repairs
China Grove, N. C. Section House Repairs
Landis, N. C. Closets Repairs
Kannapolis, N. C. Depot Repairs
Kannapolis, N. C. Section House Repairs
Glass, N. C. Section House Repairs
Concord, N. C. Depot Repairs
Concord, N. C. Platform Repairs
Concord, N. C. Section House Repairs
Concord, N. C. Tool House Repairs
Concord, N. C. Water Tank Repairs
Concord, N. C. Stock Pens Repairs
Rocky River, N. C. Section House Repairs
Harrisburg, N. C. Depot Repairs
Harrisburg, N. C. Section House Repairs
Newell, N. C. Depot Repairs
Newell, N. C. Stock Chute Repairs
Charlotte, N. C. Freight Depot Repairs
PROCEEDINGS OF THE STOCKHOLDERS
UNDERGRADE AND OVERHEAD CROSSINGS:
Location Nature of work.
Mile Post H- 39.8
Mile Post H- 47.7
Mile Post H- 53.5
Mile Post H- 54.5
Raleigh, N. C.
Mile Post 320.7
Lexington, N. C.
Salisbury, N. C.
Mile Post 337.9
Mile Post 357
Mile Post 363
Mile Post 376
STANDARD ROAD CROSSINGS:
Location
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
to undergrade Crossing,
to undergrade Crossing,
to undergrade Crossing,
to overhead bridge,
to overhead bridge,
to undergrade Crossing,
to overhead bridge,
to overhead bridge,
to overhead bridge,
to overhead bridge,
to overhead bridge,
to overhead bridge.
Nature of Work.
Mile Post H- 53.8
Method, N. C.
Mile Post H- 77
Raleigh, N. C.
East Durham, N. C.
Durham, N. C.
Mile Post H-128.7
Greensboro, N. C.
High Point, N. C.
High Point, N. C.
Linwood, N. C.
Kannapolis, N. C.
WATER STATIONS:
Location
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
to crossing
to crossing
to crossing
to crossing
to crossing
to crossing
to crossing
to crossing
to crossing
to crossing
to crossing
to crossing
Nature of Work
Goldsboro, N. C.
Auburn, N. C.
Durham, N. C.
University, N. C.
Hillsboro, N. C.
Repairs made
Repairs made
Repairs made
Repairs made
Repairs made
NORTH CAROLINA RAILROAD
Burlington, N. C.
Neuse River, N. C.
Selma, N. C.
Greensboro, N. C.
Jamestown, N. C.
Lake, N. C.
Yadkin River, N. C.
Spencer, N. C.
Salisbury, N. C.
CULVERTS:
Location
Repairs made
Repairs made
Repairs made
Repairs made
Repairs made
Repairs made
made
made
made
Repairs
Repairs
Nature of Work.
Mile
Mile
Mile-
Mile
Mile
Mile
Mile
Mile
Mile
Mile
Mile
Mile
Post H- 38
Post H- 43.4
Post H- 43.7
Post H- 54
Post H- 55.2
Post H- 55.3
Post H- 67
Post H- 81
Post H-114.7
Post H-120.7
Post 329.1
Post 337
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
Repairs
made
made
made
made
made
made
made
made
made
made-made
made
DRIVING PILES TO PROTECT ROADBED:
Location Lineal Feet Driven
Mile Post H- 21 to Mile Post H- 55
Mile Post H- 63 to Mile Post H- 70
Mile Post 290 to Mile Post 325
Total
Tie Plates applied
Guard Rail Clamps applied
Switch Slides and Braces applied
Anti-Rail Creepers applied
Nut Locks applied
33,594 feet
26,544 feet
40,016 feet
100,154 feet
47,982
107
53
7,550
80,200
IS PROCEEDINGS OF THE STOCKHOLDERS
NORTH CAROLINA RAILROAD EQUIPMENT ON HAND AS OF
OCTOBER, 1920
Locomotives:
Switch engine 1504
Passenger Cars:
M. & B 153
B. & E 353
Coach 708
Coach 951
Coach 953
Coach * 954
Freight cars
Caboose X 1253
Boarding .B- 27
Boarding B- 38
Boarding . . B- 39
Boarding B- 63
Boarding ,, B- 141
Boarding B- 353
Boarding B- 773
Boarding B-1782
Tool car T- 407
Respectfully submitted,
J. G. STEED,
Expert North Carolina Railroad.
A. D. SHELTON,
Representative Southern Railway.
Goldsboro-Charlotte
:
SJ*TE LIBRARY OF NORTH CAROLINA
n 3 309100748 1765