| Annual Report of the Montevallo Coal
Company RR |
| as of June 1, 1864, |
| President's Report |
| |
| To the Stockholders of the Montevallo
Coal Mines Company: |
| Montgomery, July 21, 1864 |
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|
Gentlemen,
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| About the 1st of March 1864,
I entered upon the duties of Asst. Supdt. of these mines and acted in
that capacity until the 25th of March when I was elected President of
the Go. |
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The contract made by the Co with the Govt to produce 100
Tons of Coal each day was too large to be complied with by the
number of hands which had been secured and a notification thereof
was obtained. In accordance with instructions from the then
President and Directors I made every effort I could to procure more
hands. I went to Miss. for that purpose and advertised for hands,
offering all the inducements I could, but did not succeed in
obtaining any more. I turned then my attention to the purchase of
supplies for those we had. I found but few provisions and but little
forage here. I have succeeded in purchasing and shipping all
supplies necessary except corn and fodder, both of which however,
have been purchased but owing to the difficulty in obtaining
transportation have not yet been shipped. For a Statement of all
supplies purchased, received and to be received I refer you to the
report of the Treas of the Co. made to this meeting. To this report
I refer you also for a statement of receipts and disbursements & for
the present financial condition of the Company. As will be seen by
reference to said report we have been compelled to buy without money
many things depending upon early receipts from the Govt to make
payments. A very considerable amount is now due for supplies which
had to be purchased now, otherwise they could not be obtained. I
have used the credit of the Co when I could & when I could not, have
used my own individual credit. I regret to have to say that the
Govt. has not been prompt in its payments for Coal, not having paid
us anything since Febry. Could we collect what is now due us from
the Govt and make collections promptly for the next two or three
months accounts could nearly all be paid. |
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For information as to what has been done in the mines,
the number of hands employed &c I refer you to the report of Mr G M
Tigh Supdt of the Mines (of that date) together with the statement
of ??? accompanying it. From these will be seen the number of
officers employed, in what duties, and at what salaries. Also the
number of hands, on what duties, and at what prices as well as the
mules, teams &c necessary to carry on the work. |
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It will be seen that the cost of the outside or non
producing work is not in proper proportion to the inside or
producing work. This is mainly attributable to the scarcity of
hands. The outside work being nearly as much for a small number of
producers as it would be for a much larger number. To secure a
profitable return from such an establishment a proper proportion
between the cost of the non producing & the producing forces must be
observed. |
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We have had many obstacles to contend with a statement of
some of which (not mentioned in this report) will be found in the
report of the Superintendent. In view of all the difficulties which
have had to encounter, it affords me pleasure to state, that, in my
opinion, the present condition of the Co is good, & that by the end
of the year it will be still more satisfactory. The mines are in
good working condition, the quantity of Coal produced daily averages
from 30 to 40 tons & we have on our platforms a large quantity ready
for shipment, with a fair prospect of being able to sell no
inconsiderable number of tons outside of the Govt at the market
prices which if transportation can be had will enable us to add much
to our receipts. It affords me pleasure to testify to the efficiency
and zeal of all the officers in charge of the mines. |
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In view of the necessities for money & the high prices of
real estate in Selma, I would suggest the propriety of selling the
property owned by the Co in Selma. |
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All of which is respectfully submitted |
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Thos J. Portis |
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Presdt. Mont Coal M. Co. |
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