| From the Richmond Dispatch |
| |
| December 12, 1861 |
| |
| Richmond & Danville Railroad Company |
| The stockholders of this company held their
annual meeting yesterday, at Metropolitan Hall, in this city--Mr.
Barksdale, of
Halifax
, presiding. The annual report of the President of the company, Lewis
E. Harvie, Esq., (a synopsis of which we append) was read, after which
the meeting adjourned until 7 P. M. |
| The entire income of the road for the year
ending Sept. 30th, 1861, amounted to $447, 959.93, of which the sum of
$398,268.36 was received from the ordinary earnings of the road, and
$49,190.57 for transportation and travel on account of the State of
Virginia
and the
Confederate
States
. This exhibits a decrease of $113,444.50 on the receipts of the
previous year. The falling off is attributed to the condition of the
country, growing out of the war and the blockade of our ports, which
has left but little to transport, the bulk of the crops having been
withheld from market owing to the low price of produce; and to the low
rates of travel and transportation on account of the Government. The
nett earnings of the road for the year ending the 30th September,
1861, amounts to $207,582.68, being 46.40 per cent, of the gross
receipts, and the working expenses, $239,867.25, making 53.60 per cent
of the gross receipts. The variation in the nett earnings of the road
for the two past years is due, in a great degree, to the fact that
one-tenth of the entire work of the past fiscal year, was performed at
half the usual rates of charge on account of the Government in the
prosecution of the war. At the usual rates of charge on the same
transportation and travel, the nett earnings would have been a higher
per cent. on the business of the road than the previous year.
Moreover, large items of expenditure, heretofore credited to
construction account, have in this year's report been placed to
account of running expenses. |
| The entire floating debt of the Company has
been discharged, and at the close of the fiscal year the funds in hand
amounted to $41,774.46, Since the 1st day of October, this amount has
been increased, by the earnings of the road, in October and November,
making a total on the 1st December of about $75,782.51. |
| The report gives a favorable view of the
condition of the road, buildings, and rolling stock. Most of the road
is now provided with heavy rail. Many of
the cars have transported cannon to
New Orleans, Mobile Savannah, and Columbus. "If some inconvenience has been experienced by the stockholders
on the line of the road by the unusual press of business, in the
prompt transportation of their products, they must be gratified to
learn that the benefits were received by the forces in the field" |
| An allusion is made to the tender of all
the operations and machinery in the workshops to the State and
Confederate Governments, for the manufacture of gun-carriages and
other implements connected with that arm of service; and at no profit;
and without detriment to the interests of the Company, they have
completed thirty-five gun-carriages and other valuable work. |
| It is a matter of great regret (says the
report) that the condition of the country, and the consequent
derangement of financial affairs, have for the present arrested the
completion of the Roanoke Valley {RR} Extension,
which was in process of construction, and also have postponed for the
present the Western Extension of the Richmond & Danville Railroad.
It is confidently believed that with the restoration of peace, both of
these valuable enterprises will be prosecuted to completion. |
| In conclusion, the report commends to the
attention of the stockholders the subject of a connection of the
Richmond
& Danville Railroad with the North Carolina Railroad, adverted to
in the recent message of President Davis. |
| The stockholders re-assembled last night, and continued
in session to a late hour. |
|