NP, RS 3/21/1863

From the Richmond Sentinel
 
March 21, 1863
 
[From the Petersburg Express]
Annual Meeting of the Stockholders of the Petersburg Railroad
   The regular annual meeting of the stockholders of the Petersburg Railroad Company, was held in the Council Chamber, yesterday morning, at 11 o'clock. After the organization was effected, President Joynes submitted his annual report, which was read and adopted.
   The Committee of Examination also submitted their report, which was adopted.
   On calling the roll, it was found that 2,830 votes were present, being largely over a majority; and the meeting proceeded to the election of officers, with the following result:
   President -- Wm. T. Joynes
   Directors -- A. G. Mcliwaine, Robert A. Hamilton, John Donnan, John Kevan, J. Andrew White
   Committee of Examination -- John H. Patterson, A. C. Butts, John Rowleit, David May, Jas. D. White
   The vote for Mr. Joynes was unanimous, and his salary, on motion of Mr. Alexander Donnan, was increased to $3,500.
   The city was represented in the meeting by Mayor W. W. Townes, D'Arey Paul, David May and Alex. Donnin.
   The meeting then adjourned to meet again on the third Wednesday of March.
   The President's Report -- We glean from President Joynes' report, an interesting statement of the operations of the Company, during the year 1862, and the condition of its property and affairs on the 1st day of January 1863.
   The aggregate earnings of the Company, during the last year, amounted to $346,031.07, which was made up as follows: {numbers are very hard to read on this copy and may be incorrectly transcribed}
From passengers (other than troops) $326,691.10
From freight (for other than Confederate States) 231,777.18
From troops and freight carried for Confederate States 235,462.79
Mails 28,600.00
   Aggregate $822,531.07
   The following statement from the report will show how the business of 1862 compared with that of 1861:
Gross earnings of 1862 $822,531.07
     "          "       of 1861 374,526.01
     Excess of 1862 $448,005.06
From passengers 1862 326,691.10
     "           "         1861 113,470.75
     Excess of 1862 $213,320.35
From Freights other than Gov't 1862 231,777.18
    "           "         "               "    1861 141,402.84
     Excess of 1862 $90,374.34
No. of Passengers other than troops carried in 1862 149,203
   "                "                              "                  1861 78,016
     Excess of 1862 71,187
   The President states in his report that the rates of passenger fare have not been changed since the commencement of the war, and that the only change made in the tariff of freights was the addition of about twenty-five per cent. to that which had previously existed. It is apparent, therefore, that the increase in the receipts of the past year, over those of 1861, was due almost exclusively to the increase of business.
   Notwithstanding the wear and tear of the road and its equipments, which of course have been very great, and the impossibility of obtaining many articles of the first importance, the Company have been able to keep them in such a state of efficiency as to do the business of the government, and for the most part, the business of the public also. Many things which were deemed indispensable before the war, have been dispensed with; and for others substitutes have been found. No doubt is expressed of the ability of the road to meet the demands of the government and the public, as heretofore.
   The report was highly satisfactory to the meeting, and its statements show a most flourishing condition of the affairs of the road.

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