NP, WD 3/24A/1863

From the Western Democrat (Charlotte, N.C.)
 
March 24, 1863
 
Charlotte & S. C. Railroad
   The report of the President congratulating the stockholders on the fact that the business of the road for the past year has been more than double that of any previous year, that the trains have been run with much regularity, considering the difficulties of the times and the pressure of business upon them, and that no serious accident has occurred. The Company has purchased 40 slaves to be used in working the road, and 1,000 bales of cotton, as a medium of exchange and basis of credit abroad, in order to procure supplies upon the return of peace. The report alludes to the fact that while the income of the road has been greater, the deterioration, wear and tear of the property has been in a corresponding ratio.
   The tabular statements show the receipt for the past year to have been $641,520.76, and the expenses $189,334.21, leaving a nett income of $452,186.55, on a capital stock of about $1,500,000. This income exceeds that of last year over $259,000. The operating expenses are 29 per cent. of the earnings, being 5 per cent. less than last year.
   This road has had more than the usual amount of business thrown upon it, owing to the interruption of communication by the routes via Wilmington and Lynchburg. The early completion of the Atlantic, Tennessee and Ohio Railroad to Statesville, and the assurance that the Greensboro and Danville connection {the Piedmont RR} will be made during the present year, give reason to rely upon a permanent and increasing business. One more important link, the Columbia & Hamburg Railroad, is wanting to place this road upon the principal high way of the country.
Columbia Carolinian
 
   We learn that at the meeting of the stockholders of the Company, the old Board of Directors was re-elected. At a subsequent meeting of the Board, Wm. Johnston, Esq., was unanimously re-elected President.

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