|
{From the minutes of the
Directors' Meeting of the East Tennessee & Virginia RR, July 25, 1864} |
| |
| Carters Depot July 25th 1864 |
| At a call meeting of the
Board of Directors of the E. T. & Va. R. Rd. Co. by request of the
Secretary of the Board, the following members were present to wit Ro. P. Rhea,
Jas. Henderson, B. F. McFarland, Wm P. Reeves, John White, Robert Love,
and Jas. R. Anderson On Motion Ro. P. Rhea was chosen President Protem.
Jas. R. Anderson Sec. Pro tem at which meeting the following business
was transacted. Resolved by the Board of Directors the report of the
Treasurer presented for the consideration of the Board be received and
is hereby ordered to be spread upon the records of the Company, to wit. |
| Bristol Ten. July 25th 1864 |
| To the Directors of the E. T & Va R. Rd.
Co. Gentlemen, I respectfully submit the following Statement of funds on
hand at this date, and ask you to make such order or disposition of it
or investment of the surplus as you think best for the interest of the
Company. |
| Certificates of Deposit in Merchants Bank at Lynchburg Va |
$50,000.00 |
| This is payable in 4 % Bonds |
|
| Deposit with Commissioner Ramsey for 4% Bonds |
15,000.00 |
| |
$65,000.00 |
| Certificate of Deposit in Citizens Savings Bank at Lynchburg |
$20,000.00 |
| On the 1st of the month the Richmond & Danville R. Road owed
us over $18,000.00 and the first of next month the debt will
amount to 38 or 40,000.00 for hire of Engines & Cars and is
presumed to be punctually paid at that time. The Va & Ten Rail
Ro. Co. owes us a large debt for hire of Engines, Cars &c,
returns have not come to me and I cannot state the amt of the
debt, but it is believed to be sufficient to pay what we owe for
repairs of Engines, Cars, &c in Virginia |
|
| Funds on hand new issue Tr. Notes |
$82,000.00 |
| 7.30 Tr. Notes on bonds of the C. S. |
3,000.00 |
|
| The Company owe from 10 to
15,000$ on Pay Rolls for wood labor&c from Jonesboro. West. Most of it
for Wood and labor in August 1863. There is 34,000$ yet due to
Stockholders on Dividends of Augt 1st 1863, that has not been called for
and will probably not be called for soon, but it may be prudent to keep
something on hand to meet contingencies. The amt necessary to retain to
meet contingencies cannot with certainty be determined perhaps about
75,000$ might be now invested and have sufficient with the collections
that may be made to meet our current demands. |
| Respectfully submitted |
| Jno. Keys |
| Treasurer |
|