AR, R&P 4/1/1861 P

Annual Report of the Richmond & Petersburg RR
as of April 1, 1861,
President's Report
 
Annual Report
 
   The Board of Directors of the Richmond & Petersburg Railroad Company respectfully submit to the stockholders their annual report and statements showing the condition of the affairs of the Company for the year ending the 31st March 1861.
   The whole income of the Company for the past fiscal year amounts to $150,432.33; during the same period the ordinary current expenses have been $78,978.24; extraordinary expenses $2,318.28. The manner in which this income has been applied is fully explained in statements B and D of the Treasurer's accounts.
   As the fiscal year preceding the present comprised only eleven months, an accurate comparison cannot readily be instituted between the receipts and expenditures of the two years. On examination of the Treasurer's table C will show that the disturbed condition of political affairs and consequent derangement of the business of the country produced a loss of revenue from November to February inclusive, of about one month's income. The Board are pleased to be able to say that the receipts since the first of March exhibit a steady increase, and the month of April a considerable increase over the same month for 1860.
   The greater part of the loss during the past fiscal year has proceeded from a falling off in through passengers; that source of revenue now shows a gratifying improvement, and it is believed by the Board that the receipts for the present year promise to be highly satisfactory.
   On the 20th of June last, as is known to the Stockholders, Mr. Peter V. Daniel {Jr.}, the former President of the Company, tendered his resignation to the Board {He moved to the Richmond, Fredericksburg & Potomac RR as their President}. It would be injustice to an officer who had so long, faithfully and successfully discharged all his duties, not to allude in this report to the loss the Company sustained by his retirement from office. The Board therefore take pleasure in adding their testimony to the devotion with which he labored to promote your interests, and render the road efficient and profitable. It is but proper to place this testimonial on record as a recognition of his services. Under the instructions of the stockholders, at their annual meeting on the 29th May, 1860, the Board of Directors proceeded to have surveys made for a suitable route to connect this road with that of the Richmond, Fredericksburg & Potomac Company. It was deemed wise by the Board to suspend these surveys when the political disturbances commenced last fall, as well as those for our proposed connections in Petersburg. The authorities of this State considering it necessary to the successful prosecution of military operations, have directed a connection of all three roads in both cities be made. Surveys and estimates are now being prepared, and it is expected that in conformity with these surveys and estimates the connections will be speedily made.
   Some correspondence has taken place between the President and the Post Office Department of the Confederate States in regard to the transportation of the mails over this road, but as yet no definite result has been arrived at.
   The report of the examining committee and of the superintendent will fully show the condition of the roadway, buildings, machinery, and other property of the Company.
   The efficiency of the officers and agents of the Company is best exhibited by the safety and regularity with which the transportation has been conducted, under circumstances which have for some time past called for unusual exertions, and by the creditable state in which the roadway and rolling stock is found.
Charles Ellis
President
May 28, 1861

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