BOARD OF DIRECTORS FOR 1850. JAMES H. LUCAS. DANIEL D. PAGE. GEORGE COLLIER. EDWARD WALSH. THOMAS ALLEN. JAMES E. YEATMAN. LUTHER M. KENNETT. LOUIS A. LABEAUME. JAMES HARRISON. THOMAS ALLEN, President and Treasurer. JAMES H. LUCAS, Vice President. JAMES P. KIRKWOOD, Chief Engineer. BOARD OF DIRECTORS AND OFFICERS FOR 1851. JAMES H. LUCAS. EDWARD WALSH. THOMAS ALLEN. LUTHER M. KENNETT. LOUIS A. LABEAUME. JAMES E. YEATMAN. JAMES HARRISON. HUDSON E. BRIDGE. EDWARD HAREN. THOMAS ALLEN, President. JAMES H. LUCAS, Vice President. ROBERT SIMPSON, Treasurer. A. S. MITCHELL, Secretary. JAMES P. KIRKWOOD, Chief Engineer. MEETING OF THE STOCKHOLDERS OF THE PACIFIC RAILROAD COMPANY. The annual meeting of the stockholders of the Pacific Railroad Company, in accordance with the charter of the Company, convened pursuant to public notice at the Merchants' Exchange, in the city of St. Louis, on Monday, the 30th March, 1851, for the purpose of acting upon the amendments to the charter, electing directors for the ensuing year, and for the transaction of other business, when, on motion, A. B. CHAMBERS, Esq., was appointed Chairman, and GEORGE R. TAYLOR, Esq., Secretary. The President of the Company, THOMAS ALLEN, Esq., made the following report from the Board of Directors: OFFICE PACIFIC RAILROAD COMPANY, St. Louis, March 31, 1851. In pursuance of the requirements of the charter, the Board of Directors respectfully submit to the stockholders the following exhibit of the affairs and condition of the Company: It will be recollected that the preliminary organization of this Company took place on the 31st of January, 1850, at which time and occasion the eleven corporators present pledged themselves to subscribe for $154,000 of the stock. On the 4th of February following, a book was opened at the Merchants' Exchange in this city for subscriptions to the 1 stock, and during the period the book was kept open at that place, and others circulated in the several wards of the city, 4,416 shares were subscribed. On the last Monday in March following, the Board of Directors were elected as prescribed by the charter, and after considerable inquiry and correspondence in relation to a suitable engineer, they succeeded in obtaining the services of Mr. James P. Kirkwood, then of New York, as Chief Engineer. Upon his arrival here, the Board instructed him to survey the most practicable route to the western boundary line of the State, including the Merrimac Valley route, crossing the Gasconade and Osage rivers south of Jefferson City; and subsequently the Missouri river route as far as Jefferson City, and also a line from the main line, near Cass county, to the Missouri river, near the mouth of the Kansas. Under his charge and direction the preliminary surveys were commenced, with two parties, on the 24th of May, and subsequently another party, for a short time, was added, and all the field work was closed on the 29th of November. The results of these surveys are embodied in the report and maps herewith submitted for the information of the stockholders. The report was completed in January of this year, after which the Chief Engineer was dispatched to Washington city on business of importance to the company. The report itself shows the great extent of the work accomplished by the Engineer Department, and furnishes internal evidence of the intelligence and ability with which it has been conducted. It has comprehended a general examination of the country, and an instrumental survey of three routes to the Gasconade river, viz: 1st, by the Merrimac Valley; 2d, by Union Ridge; 3d, by the Missouri Valley, with continuation condensed into two routes to Jefferson City-one route crossing Osage river south of Jefferson City, and passing by Versailles, and surveys continued to State line in Cass county, and also by Independence to Kansas. These surveys have embraced an extent of country of over three hundred miles in length, and of from twenty to thirty miles in width, and the aggregate length of the different lines is 825 miles. To meet the expenses of these surveys, the Board of Directors, in May, made a call upon the stockholders for an instal Report of the Board of Directors. 7 ment of five per cent. upon their subscriptions, two and a half of which was made payable on the 1st of June, and two and a half on the 1st of August, 1850. The instalments were paid by the stockholders generally, with encouraging promptitude. The total amount collected of these instalments, as will appear by the Treasurer's report, is $24,517 50. The total amount unpaid is $2,687 50. Of these arrears it is believed, that nearly all are collectable, and it is the intention of the Board, at a proper time, to resort to those means which are given by the charter to enforce payment with interest. In the meantime the delinquents are not entitled to vote in the company. The total amount expended during the past year for instruments, outfits, engineering, rent, &c., is $20,056 65. Balance in the treasury, March 31, 1851, $4,943 78. During the progress of the surveys, last season, the President of the Company personally visited most of the counties situated on or near the proposed line of our road. He found a general disposition prevailing among the people of those counties, to aid our work by every means in their power. Steps were taken by the County Courts in nearly all of them, to test the sense of the people in regard to subscriptions by their respective counties. In every case the vote resulted in favor of the subscription. No county subscription has, however, actually been made, excepting by the counties of St. Louis and Jackson; the former of which has subscribed $100,000, and paid the first instalment of five per cent., and the latter has made, by order of court, a conditional subscription of $100,000, payable when the road is completed up to the Jackson county line. A small amount of individual subscriptions have been made in Franklin county and in Cole county, and efforts are making, with reasonable prospect of success to increase the subscription in those counties. The total amount of actual subscriptions to the stock of all kinds, to this time, is............ $544,100 Add conditional subscription of Jackson county... 100,000 14,000 500,000 $1,158,100 |