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the lot in Lucas St. On motion it was ordered that such Real Estate as was not needed for the purposes of the Road be sold provided a sum sufficient to cover the cost and interest could be obtained, except in the case of "White Hall" which might be sold for $20.000.00.The President also...
"be desired, except in case of disaster, or for permanent"improvements, unless the nett earnings of the Road"after payment as heretofore, of current repairs and "expenses, shall fall short of $11.500 per month, which"is equal to the interest on the whole debt. It is"manifestly more likely to be...
instructed to advertize in the daily papers to that effect. The other two subjects were disposed of in the following resolution by Mr Richards which was adopted."Resolved, that with a view to placing funds in England, by the shipment of cotton, the President be instructed to accept the...
"That the eight Hundred Bonds, numbered from one to Eight hundred which are registered in the "Bond Book" and two hundred other Bonds duly signed + executed, each for Five Hundred dollars payable in 1870, with the coupons, were this day examined and cancelled in our presence. Also Sixty Bonds of...
of the employees, particularly of thos on the line of the road, was much too little, and lower than other companies were paying for the same service, when, on motion, the Presdt was authorised to increase the salaries of such of the employees as he thought proper in such manner as he saw to be...
purchase of the iron now being removed, which is as follows:-"The SoCa R. R. Co will agree to purchase the Rails, Spikes, + Chains which the Charleston + Savannah R. Road may desire to sell, at their value in 1860 or say $55 per ton as reasonable allowance being made for the near of the rails....
classes an exchange of their Bond for preferred stock, in the order of their several liens, postponing their own stock to the lowest class:--this proposition (which would have placed the road in the hands of the creditors) was rejected. The Stockholders then offered to give the creditors the...
C. M. Furman offered the following resolution which was adopted.Resolved, "That the application made to the Legislature for a renewal of the State Guarantee, or endorsement of the Bonds of the Rail Road Companies of the State + postponement of the State Liens be approved + concurred in. by this...
$30.300 on the interest of the 1st or State lien, until such dividends should reach 7 per cent. That the 3rd lien creditors should in like manner take their bonds in scrip, and receive in dividends all the surplus over 7 per cent, until they got that amount and that the present Stockholders...
make it a first class and paying road, would cost between $400.00 and $500.000 - Now if the Stockholders were to attempt a loan in such a state of things, it is manifest, that they could not procure it, and yet some one must take the responsibility of borrowing enough to run the road to...