| Annual Report of the Alabama & Florida
(of Alabama) RR |
| as of October 1, 1865, |
| President's Report |
| |
| To the Stockholders of the Alabama &
Florida Railroad Company: |
| I do not consider it
necessary, in submitting a statement of the receipts and expenditures
of your company, to go back beyond the restoration of the road by the
military authorities after the close of the war. The report of the
superintendent, herewith submitted, gives all the information
necessary with regard to the condition of the road and outfit, and I
will there fore only report on the financial condition of the company.
To do this, and show you the losses sustained by the destruction of
depot buildings, materials, and outfit, it will be necessary to refer
to the statement prepared for your annual meeting in November, 1864,
but not submitted because a quorum of stockholders was not in
attendance. |
| On the 1st of October, 1864,
the condensed statement of the condition of the company shows as
follows |
| Cost of road |
|
$1,912,575.41 |
| Cost of outfit, cars locomotives, and materials |
|
272,695.76 |
| Cost of depot buildings and shops |
|
37,675.57 |
| Cost of property held by and debts due the
company |
|
803,271,67 |
| Making total value road, property, and debts |
|
3,026,017.41 |
| To which may be added the estimated value of
370,000 acres at $1.50 per acre |
|
555,000.00 |
| Making the total value of property and assets |
|
3,581,017.41 |
| The obligations of the company
were: |
|
|
| Capital stock paid in |
$951,300 |
|
| Due on bonds of the company |
1,233,000 |
|
| Due on coupons past due and interest on notes |
200,000 |
|
| Due on open acts, bills, and notes |
351,852.66 |
|
| Total liabilities |
|
2,736,152.66 |
| And showing a surplus of assets and property
over all debts of |
|
844,864.75 |
|
| ***** |
| In the year 1862, finding
there were but few applications for the purchase of land I closed up
the land office. Since that time about one thousand acres have been
sold at prices fixed by the land value of the company, Mr. P. S.
Miller. There is yet unsold about 370,000 acres. |
| Charles T. Pollard |
|
President
|
|