| {From the minutes of the
Directors' Meeting of the Virginia Central RR, September 30, 1863} |
| |
| Richmond Septr 30 1863 |
| At a meeting of the Board of Directors
of the Virga Central Railroad Company, present |
| |
E Fontaine |
President |
| |
N B Hill |
Directors |
| |
Wm Overton |
|
| |
Jacob Baylor |
|
| |
Saml Carpenter |
|
|
| The Prest informed the Board that after
the execution of certain joint and several bonds of this Company and
others authorised by resolution of this Board on the 4th day of Augt
1863 and the same being transmitted to our agent Capt Jno M
Robinson, but before he had recd them he had entered into a contract
on behalf of this and the other Companies above referred to with
Mess Chas Joyce & Co for furnishing Railroad supplies, of which the
following is a copy |
| "An agreement made the 5th day of Augt
1863 between Jno Moncure Robinson a Captain of Engineers on the
service of the Confederate States of America now residing in the St
James Hotel Piccadilly London and acting herein as the agent and for
and on behalf of the underincutroned Four Railroad Companies
(namely) The Richmond Fredericksburg and Potomac Railroad Company,
The Virginia Central Railroad Company, The Petersburg and Weldon
Railroad Company, and The Seaboard and Roanoke Railroad Company,
(all being in the said States) of the one part and Messers Charles
Joyce and Company, of No 61 Movingate Street in the City of London
Merchants of the other part. Witnesseth, that for the considerations
hereby appearing, each of the parties hereto for themselves so far
as relates to the acts and deeds on their own part to be performed
Do hereby agree with the other of them as follows" |
| 1st "The said Charles Joyce and Company will at
their own costs and upon the requisition of the said John Moncure
Robinson furnish and supply for the use and service of the said
Railroad Companies respectively All or such part as shall be so
required of the Stores Materials Articles and Things which are
specified and mentioned in the Four lists hereto amended and agreed
by the said parties |
| 2d "The said supplies shall be by the
said Charles Joyce & Company procured and shipped in England and
delivered to the Agents of the said Rail Road Companies respectively
at either the Island of Nassau or the Island of Saint Gorge Bermuda
as may be ordered by the said John Moncure Robinson on his making
requisition for such supplies" |
| 3d "Each of the said Railroad Companies
shall be responsible only under the agreement for the supplies
furnished for its own use." |
| 4th "The said Charles Joyce and Company
shall be paid by the Railroad Companies respectively in Sterling
Money of Great Britain the Invoice prices of the said supplies
besides all freight and other expenses of and incident to the
shipment conveyance and delivery thereof the costs of Insurance of
said supplies to the time and Port of delivery and interest on their
outlay for or on account of the said supplies at the rate of Eight
pounds per centum per annum to be computed up to the respective
times of the delivery of the said supplies as aforesaid together
with a commission of Seven pounds and Ten Shillings per custom on
the respective total amounts of the invoices of the said supplies" |
| 5th "Upon the delivery of the said
supplies in manner aforesaid by the said Charles Joyce and Company
Bond or Notes of the said Railroad Companies respectively bearing
interest at Eight pounds per centum per annum the principal of such
Bonds or Notes being payable not later than the Thirty first day
December in the year One Thousand Eight Hundred and Sixty five both
principal and interest being payable in London and the principal
representing the full amount or value in Sterling Money of the
supplies furnished to each Company (including the freight expenses
costs interest and commission aforesaid shall be delivered by the
agents of the said Railroad Companies respectively to the agents of
the said Charles Joyce and Company in payment for the said supplies
at the place where the same shall be delivered" |
| 6th "The said Railroad Companies
respectively will remit same annually from time to time in sterling
money to the said Charles Joyce and Company thee interest accruing
due upon the said Bonds or Notes which interest the said Charles
Joyce and Company shall be entitled to retain for their own benefit" |
| 7th "Within six months after peace
between the said States and the Northern States of America shall be
concluded all the Bonds or Notes delivered as aforesaid (although
the same may not then according to the tenor thereof be due) shall
be by the makers thereof or other parties liable thereon taken up
and paid with all interest then in arrear and due in respect to such
Bonds or Notes respectively either in Sterling Money or (at the
option of the said Charles Joyce and Company) in Cotton of which the
quality shall be middling Upland and the value shall be taken by and
between the parties hereto, to be Five pence Sterling per pound and
if the said Charles Joyce and Company shall elect to receive such
payment as aforesaid in Cotton they shall transmit notice of such
their election to the said Railroad Companies respectively within
Sixty days next after intelligence shall reach the said Charles
Joyce and Company of the conclusion of peace as aforesaid and in
that case the said Cotton shall be delivered by the agents of said
Railroad Companies respectively to the agents of said Charles Joyce
and Company in properly packed and merchantable bales and free from
all taxes and charges on the Port of either Wilmington or Norfolk at
the option of the said Charles Joyce and Company" |
| 8th "The said Railroad Companies
respectively will during the continuance of these presents deposit
in advance with the said Charles Joyce and Company by way of
collateral security for the same supplies Bonds of the Confederate
States of America or securities equivalent thereto and satisfactory
to the said Charles Joyce and Company such bonds or other securities
bearing interest at a rate of not lower than Five per centum per
annum and the principal thereof being at all times for amounts or
values of at least twice the amount which for the time being shall
be due and owing under this agreement by each Rail Road Company to
the said Charles Joyce and Company for on respect of the said
supplies." |
| 9th "For the purpose of calculating the
amounts of the last mentioned bonds and other securities Four
Dollars and Eighty four cents of money of the said Confederate
States shall be taken and considered to be equivalent to one pound
Sterling" |
| 10th "All the Bonds and other securities
to be deposited as aforesaid shall be by the said Charles Joyce and
Company held as aforesaid shall be by the said Charles Joyce and
Company held as security only to them for the sums or amounts
which for the time being shall be owing to them by the said Rail
Road Companies respectively for and in respect of the said supplies
and the same Bonds and other securities shall not be by the said
Charles Joyce and Company sold or deposited with unless default
shall be made by the said Rail Road Companies respectively in
payment in the manner stipulated and provided for by these presents
for the supplies to be furnished in pursuance of this agreement to
the said Rail Road Companies respectively by the said Charles Joyner
and Company in which case the said Charles Joyce and Company shall
be at liberty to release or otherwise deal with as they may think
proper the Bonds and other securities deposited with them as
aforesaid to such amount extent as shall be sufficient to reimburse
themselves the amount which for the time being shall be owing under
this agreement to them by the said Railroad Companies respectively
for or on account of the said supplies." |
| 11th "In the mean time the said Charles
Joyce and Company shall be at liberty from time to time to receive
for the credit of the said Railroad Companies respectively the
interest accruing due on the said Bonds and other securities" |
| 12th "Upon full payment being made in
manner aforesaid to the said Charles Joyce and Company by the said
Railroad Companies for and on account of the supplies furnished to
them respectively under this agreement the said Charles Joyce and
Company will return to each Railroad Company or their agent all the
Bonds and other securities deposited with them by such Railroad
Companies as security as aforesaid and will duly account for the
interest on the said Bonds which in the mean time shall have been
received by the said Charles Joyce and Company. |
| In witness whereof the said parties to
these presents have hereunto set their hands the day and year first
above written" |
| Jno M Robinson |
| Chas Joyce & Co |
| Signed by both the above named parties |
| Messr Charles Joyce & Co signed by Mr Frederick
George Westmorland a member of that firm in the presence of |
| John Hainson |
| Notary Public |
| No. 117 Grace Church Street London |
| |
| The President also reminded the Board
that by a resolution of the Convention of Associated Railroad
Companies held on the 13 & 17th of Feby last at the office of the R.
F. & P. Co in this City the compensation to be paid to Capt Robinson
for his services as agt of the associated Companies in procuring
supplies from Europe and for defraying his expenses, it was agree
should be "Ten per centum of the costs of the articles ordered by
each Company: provided that such compensation shall not exceed
$8,000 nor less than $4000, the said compensation to be computed and
furnished in Sterling Funds" but the proportion of compensation due
from this Company not having been furnished during Capt Robinson's
stay in Europe in Sterling Funds and Capt Robinson not being
disposed now to exact a settlement in Sterling Funds but was willing
to receive of this Company an obligation of the Company similar in
all respects to that to be given to Mess Chas Joyce & Co of London
for an amount equal to Ten per cent of this Company's indebtedness
to Miss Chas Joyce & Company under the contract with them. |
| Whereupon it was |
| Resolved that the Board approves and
ratifies the contract entered into on its behalf by Capt Jno M
Robinson with Mess Chas Joyce & Co London and hereby authorises and
instructs the Prest and Treasor to execute with the seal of the
Company and deliver one or more obligations in accordance with the
said contract to the said Chas Joyce & Co or their agents at Bermuda
for the amount of the cost of supplies delivered at that point
together with all proper costs and charges provided for in the said
contract. |
| Resolved that the Prest and Treasr be
further authorised and instructed to execute and deliver to Capt J M
Robinson a similar obligation of this Company for an amount equal
toten per cent of this Co's indebtedness to Mess Chas Joyce & Co
under the said contract |
| Resolved, The Prest be authorised to
unite with the Companies mentioned in the contract with Mess Joyce &
Co and pay a fair proportion of the expense of employing an agent at
Bermuda to superintend the receipt at that point of the shipment
thence to a Confederate Port of such supplies as shall be delivered
there from Mess Joyce & Co under the contract aforesaid and upon
ascertaining the contents of the invoice shall deliver to the agents
of said Joyce & Co this Company's obligation for its proportion of
the cost thereof |
| Resolved, that the Prest be authorised
to procure and transmit to such agent in Bermuda its portion of
specie or Sterling Funds necessary to defray the cost of
transferring its supplies from Bermuda to a Confederate Port. |
| On motion it was resolved that the order
of the |