NP, MAP 9/4/1861

From the Memphis Appeal
September 4, 1861
Our Railroads
Memphis & Charleston Railroad
   This road was originally projected as a great commercial artery between the Atlantic ocean and the Mississippi river, but in the present disrupted state of the country it has proven to be the strong arm of military defense, serving not only to unite the Southern Confederacy with iron bonds, but enabling the Government to unite its forces at any point desired, either on the Atlantic coast or in the Mississippi valley. As will be seen {hole in paper} statements herewith presented, the road {hole in paper} its receipts during the past twelve months {hole in paper} 12 1/2 per cent. Under the circumstances {hole in paper} country, this is most extraordinary. Its {hole in paper} ??mons receipts of $1,811,122.00, on a capital cost of $7,000,000, is ample evidence that the stockholders made a wise investment; and the increase of the stock, upon its completion, of 60 per cent. upon what each stockholder actually paid in together with the payment of 8 per cent cash dividends, annually, shows that it is one of the paying institutions of the country, either in peace or war -- whether in the old "Union" or in the Southern Confederacy. The stockholders have reason in congratulating themselves upon the prosperous condition of this great work -- the fine condition of the road's machinery, and the quiet, systematic order that characterizes its management. It is purely a great Southern enterprise, built by Southern capital and Southern men, and managed still by the same parties who built it, never having materially changed its organization -- still retaining its old Board of Directors and officers, or others who have been promoted from the ranks of their operatives.
Comparative Statement of Receipts, Memphis & Charleston Railroad, for past three years
Receipts 1859 1860 1861
From Passengers $754,953.01 $?75,259.33 $1,022,565.40
    "    Freight 5??,801.06 681,583.23 729,875.93
    "    Mails 55,175.00 55,175.00 54,064.50
    "    Express 13,122.73 22,?89.08 34,570.01
Total 1,330,81?.80 $1,625,066.67 $1,841,122.00
{the numbers above are very hard to read and contain errors}
Memphis & Ohio Railroad
   This road forms an important link in the chain of railroad connecting Louisville, Memphis, and New Orleans, extending from Memphis to Paris, Tennessee, a distance of 130 miles. The road was completed 57 miles to Brownsville, in 1853; to Humboldt, 82 miles, in April, 1859, and to Paris, the other terminus, May 11, 1860. In consequence of the Marksville road not having been completed, direct communication was not made with Louisville until April 15, 1861, on which day the first through train left Memphis and arrived in Louisville in twenty hours. The time has since been reduced to eighteen hours, and on the completion of the Tennessee river bridge, we are assured it will be still further lowered. The distance from Memphis to Louisville Ky -- Memphis & Ohio Road 140 miles; Memphis, Clarksville & Louisville Road, 83 miles, and Louisville & Nashville Road, 157 miles -- total 380 miles. The short ????? since the opening of the route, and the interruption of trade in consequence of the wa{hole in paper} of a correct estimate of the ??{holde in paper} that will be transacted by this road when {hole in paper} trade be restored. For the present it can only {hole in paper} ??ments of freight over the road, as indicated by the statements elsewhere contained in this report. Each year's earnings of the road have evidenced a decided increase over the preceding year. In 1860 the receipts exhibited an increase over 1859 of 67 per cent; and in 1861 over 1860 of 20 per cent., of which $50,000 were from passengers, $2?,??1 from freights, and $2,001 from mails -- total increase $91,565. The total receipts of the past year embraced $362,565.38; operating expenses same time, $190,754.78; leaving as nett earning, $171,840.55. The road, as we are informed, has cost about $2,500,000, including buildings and equipments. The financial condition of the road may be briefly stated: Tennessee bonds, maturing in 1895, '96, '97, '98, and '99, $1,493,000; Company 6 per cent. bonds, due in 1906, $97,000; Company income bonds 10 per cent due in 1870, $432,000 -- total funded debt, $2,022,000; floating debt, $278,000 -- total liabilities, $2,300,000. It will thus be seen that the cost of building and equipping the road exceeds the total liabilities of the Company by $1,000,000. 
Annexed we give a
Comparative Statement of Receipts, Memphis & Ohio Railroad, for past three years
Receipts 1859 1860 1861
From Passengers $71,371.65 $130,283.90 $189,347.55
    "    Freight 76,976.85 136,815.84 168,047.70
    "    Mail 1,273.40 3,908.08 6,000.00
    "    Express 160.40    
Total $149,985.30 $271,010.32 $362,835.80
{the numbers above are very hard to read and contain errors}
Mississippi & Tennessee Railroad
   The completion of this important artery of commerce and travel opens up direct railroad communication with Grenada, Canton, Jackson and New Orleans, and reduces the time between Memphis and the latter point to twenty three hours. Twenty miles of the road on the southern end, from Oakland to Granada, were completed on the 3d of July, and the first through train left this city on the following day. The future prospects of the road are certainly of the most flattering character. Passing through one of the richest Cotton growing regions of the South and forming, as it does, an important part of the great Northern and Southern line of travel, its future operations can scarcely be otherwise than profitable to the public and remunerative to stockholders and others interested. The road is 99 miles in length, and is, for the most part, well built. There are thirteen "Howe Truss" bridges, and seven wrought iron, in spans of 23 and 30 feet, resting on solid and substantial approaches. The pressure of the times has prevented the erection of permanent depot building and machine shops at Memphis, which was wisely deferred until the track should be completed; yet this company does all its own repairs in temporary shops attached to which is a car manufactory, which is turning out all the cars required by the road -- some of them the finest to be found in the country. The business of the road during the past year, circumstances constrained, have been excellent, the amount of freight shipped from this city especially showing a marked ???. This earnings of the road, in its various departments, will be seen from the following:
Comparative Statement of Receipts, Mississippi & Tennessee Railroad, for past three years
Receipts 1859 1860 1861
From Passengers $60,???.?? $74,??8.?0 $78,???.?2
    "    Freight 10?,704.70 140,523.79 138,608.60
    "    Mail 747.33 1,647.33 5,707.50
    "   Exp's, rents, etc 4,425.00 4,525.00 1,840.00
Total $176,?1?.?0 $22?,?26.18 220,??3.71
{the numbers above are very hard to read and contain errors}
Memphis & Little Rock Railroad
   The prospects of this Road are of a very flattering and gratifying character. Several months since the affairs of the Company passed into the hands of a new administration, under whose auspices the work of completion is being pressed with vigor. From official sources we learn that track-laying is progressing to both ends, that the grading is completed from Duvall's Bluff, on White river, to Little Rock, and some 18 miles of track laid down since April last, with the prospect of completion by the 1st November. Prior to this date it is expected that the bridge crossing the St. Francis will be completed, when we shall be in direct and uninterrupted communication with Little Rock. The heaviest portion of the grading of the intervening space of forty-three miles between Madison and  Duvall's Bluff, has been performed, the iron for the entire road purchased and awaiting ??? amount delivered to complete the road from White river to Little Rock, as well as some fifteen miles on the second at ???, leaving but thirty miles of iron for future delivery. 
Comparative Statement of Receipts, Memphis & Little Rock Railroad, for past three years
Receipts 1859 * 1860 1861
From Passengers $4,629.35 $18,000.48 $22,6?6.80
    "    Freight 1,424.21 9,???.45 18,132.89
    "    Mails 1,123.56 ?,708.34 5,000.00
    "    Express   107.40 456.49
Total $6,858.01 $32,?28.40 $41,83?.18
{the numbers above are very hard to read and contain errors}
* Embracing a period of three months, during which the road was in operation.