| Annual Report of the Richmond &
Petersburg RR |
| as of April 1, 1864, |
| President's Report |
| |
| Annual Report |
| |
| The Board of Directors respectfully submit to the
Stockholders their annual report and accompanying statements, shewing the
operations of the Company for the past fiscal year, ending the 31st March
1864. |
| The earnings of the road during
that period have amounted to $741,596.39; and the expenditures to
$545,985.61. With all the care and proper economy which could be
exercised, it will be perceived that the expenses have advanced in a
much greater ration than the receipts. The demands of the government
for continuous transportation, have forced us to keep our trains
constantly in use, and the consequent wear and tear called for more
frequent and more costly repairs than usual. |
|
The funded debt of the Company has been reduced during
the past year, by the conversion into stock of eighteen of the 6 per
cent. coupon bonds, leaving outstanding of that debt the sum of
$13,500. The whole amount of funded debt is $144,000, due in 1875.
|
|
The report of the Examining Committee and of the
Superintendent, will shew what is the condition of the roadway, rolling
stock and other property of the Company.
|
|
Since the 1st of April, 1861, to the 31st March, 1864,
there has been passed over this road more than one million of persons,
and upwards of two hundred and fifty thousand tons of freight. This
heavy movement has effected under circumstances of great
embarrassment, with singular exemption from accident. The management
of the road, during the past year, has encountered many difficulties.
How they have been met and overcome, the condition of the property of
the Company and the work performed, furnish the best evidence of the
faithful manner with which its officers and employees have performed
their duty.
|
|
By a comparative examination of tables No. 6 and 12, for
the present and the past year, it will be perceived that the coal
transported from Clover Hill during the past twelve months, is less
than for the preceding by 778 tons; and that this decreased quantity
required a much greater number of miles to be run by our coal trains
this year than last.
|
|
In addition to these results, and the well known advance
in the cost of railroad materials and supplies,, the Superintendent's
report shews that our stock of coal cars was last year 123, this year
they number only 110. Also, that whilst there was received for the
transportation of coal but $1.88 per ton, the general freight produced
$4.63 per ton. All these facts exhibit very clearly the necessity of
the advance made by the Board, on the 1st of February last, on the
rates of transportation of coal.
|
|
Charles Ellis
|
|
President
|
|
April 26th, 1864
|
|