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Elinore McDonough

Galveston, Texas

May 25, 1927

At a meeting of the Board of Directors held on Nov. 27. 1874, the following resolutions were adopted:

"RESOLVED - That six of the Directors present, viz. A. C. Crawford, R. S. Willis, M. Rosenburg, D. The. Ayres, M. Kopperl & Jas. Sorley, together with Mr. John Sealy, will advance Two Hundred and Fifty Dollars each to make up the amount necessary to pay the present indebtedness of the Company --- the same to be returned to them. Pro rata, from the first collections made of installments on stock subscriptions".
"RESOLVED - That all expenditures be stopped from this date & that the V. President & Executive Committee call a public meeting, at an early day, for the purpose of presenting to our citizens the advantage to arise from the construction of this road & the necessity which exists of obtaining further subscriptions to the Capital Stock".

In the minutes of the meeting of the Board of Directors held on Dec. 1, 1874, appears the following entry:

"The thanks of the Board were tendered to Mr. Rosenberg for his valuable assistance in collecting installments on stock, in which it was hoped her would persevere".

At a meeting of the Executive Committee held on Dec. 21, 1874, it was resolved "that a committee be appointed to correspond with the Presidents of the various Corporate Companies in this City, and invite them to an interview with the Board of Directors of this Company on the subject of said Corporations subscribing to the Capital Stock of this Company". An invitation, in accordance with this resolution, was tendered to the following gentlemen, to meet in the office of the Secretary of the Railroad Company (Mr. C. R. Hughes) on the evening of Wednesday, Dec. 23d:

J. H. Hutchings, Prest. of Galveston Wharf Company
J. L. Darragh, J. J. Hendley, and W. H. Goddard, of City Company
John Sealy, Prest. & A. P. Lufkin, of Southern Cotton Press & Mfg. Co.
M. Quin, Prest. of Texas Cotton Press Co.
Wm. Oliphint, Prest. of Gulf City Press Co.
John Sealy, President of Gas Co.
J. M. Brown, Prest. First Natl. Bank of Galveston
M. Kopperl, Prest. of Natl. Bank of Texas
C. G. Wells, Prest. of Savings Bank
R. S. Willis, Prest. of Texas Bkg. & Inv. Co.
John D. Rogers, Prest. of Merchants Ins. Co.
I. Dyer, Prest. of Union M. & F. Ins. Co.
A. Ball, Prest. of Galveston Ins. Co.
J. H. Burnett, Prest. of Home Ins. & Bkg. Co.
Charles Fowler, Prest. of Ice Company
D. The Ayres, Prest. of Galveston City R.R. Co.
Leon Blum, Prest. of Peoples R.R. Co.
N. B. Sligh, Prest. of Gulf Loan & Homestead Co.
Leon Blum, Prest. of Life Assc. of America
Col. Flournoy, E. S. Wood, J. P. Davie, J. H. F. Chapman

The meeting of the Board of Directors with the presidents of the various companies in the City of Galveston, was held, as planned, on Dec. 23, 1874. After much discussion, it was decided that the Executive Committee should address the following circular to the stockholders of all the incorporated companies in the City:


To the stockholders of _______________________________________________Company,

The undersigned, a committee appointed by the Directors of the Galveston, Colorado and Santa Fe Railroad Company, in accordance with the views express unanimously by many of the leading citizens of Galveston and officers of most of the incorporated companies in the city, at a consultation held for devising ways and means of constructing the first fifty miles of said railroad, in persuance of instructions from said consultation meeting, respectfully request that you will authorize your Directory to take shares in the capital stock of said Railroad Company to the amount of two and a half per cent, of you estimated capital. A similar request is presented to the stockholders of all other companies owning property and having business in this city.

H. Rosenburg,
James Sorley,
D. The. Ayers,
N. N. John,
M. Kopperl,
John Sealy,

(NOTE: The circular letter quoted above is copied from one of the printed letters sent to the various Galveston companies. It will be found on Page 39 of Minute Book No. 1, where it has been pasted, with a few introductory lines to show what was accomplished at the consultation meeting of Dec. 23, 1874. The name of the Railway Company is shown in the printed circular as quoted above.)

That the consultation meeting had results, may be noted from the following subscriptions to the capital stock by the gentlemen present at that meeting , either personally or in the names of the companines they respresented:

Cert. No. Name
No. Shares
12 J. J. Hendley
13 Wm. Hendley & Co.
27 Galveston Insurance Co., A. Ball, Pres't
32 N. B. Sligh
37 Jno. D. Rogers
41 First National Bank of Galveston, J. M. Brown, Pres't
40 J. M. Brown
44 Galveston Gas Co., John Sealy, Pres't
48 Chapman & Duffield
61 Island City Savings Bank
79 Steele, Wood & Co.
83 Galveston City Rd. Co., D. The. Ayres, Pres't
91 Home Insurance Co., J. H. Burnett, Pres't
93 Leon & H. Blum
106 Wolston, Wells & Vidor
111 Union Marine & Fire Insurance Co., I. Dyer, Pres't
125 National Bank of Texas, M. Kopperl, Pres't
126 J. L. Darragh
128 A. P. Lufkin
131 Southern Cotton Press & Mfg. Co., John Sealy, Pres't
149 J. P. Davie
160 Galveston Wharf Company, J. H. Hutchings, Pres't

These subscriptions will be found in their proper place in the check of the entire first stock book of this Company, which is attached to this sketch.

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