| Annual Report of the Richmond &
Petersburg RR |
| as of April 1, 1861, |
| President's Report |
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| Annual Report |
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| The Board of Directors of the
Richmond & Petersburg Railroad Company respectfully submit to the
stockholders their annual report and statements showing the condition
of the affairs of the Company for the year ending the 31st March 1861. |
| The whole income of the
Company for the past fiscal year amounts to $150,432.33; during the
same period the ordinary current expenses have been $78,978.24;
extraordinary expenses $2,318.28. The manner in which this income has
been applied is fully explained in statements B and D of the
Treasurer's accounts. |
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As the fiscal year preceding the present comprised only
eleven months, an accurate comparison cannot readily be instituted
between the receipts and expenditures of the two years. On examination
of the Treasurer's table C will show that the disturbed condition of
political affairs and consequent derangement of the business of the
country produced a loss of revenue from November to February
inclusive, of about one month's income. The Board are pleased to be
able to say that the receipts since the first of March exhibit a
steady increase, and the month of April a considerable increase over
the same month for 1860.
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The greater part of the loss during the past fiscal year
has proceeded from a falling off in through passengers; that source of
revenue now shows a gratifying improvement, and it is believed by the
Board that the receipts for the present year promise to be highly
satisfactory.
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On the 20th of June last, as is known to the
Stockholders, Mr. Peter V. Daniel {Jr.},
the former President of the Company, tendered his resignation to the
Board {He moved to the Richmond, Fredericksburg
& Potomac RR as their President}. It would be injustice to
an officer who had so long, faithfully and successfully discharged all
his duties, not to allude in this report to the loss the Company
sustained by his retirement from office. The Board therefore take
pleasure in adding their testimony to the devotion with which he
labored to promote your interests, and render the road efficient and
profitable. It is but proper to place this testimonial on record as a
recognition of his services. Under the instructions of the
stockholders, at their annual meeting on the 29th May, 1860, the Board
of Directors proceeded to have surveys made for a suitable route to
connect this road with that of the Richmond, Fredericksburg &
Potomac Company. It was deemed wise by the Board to suspend these
surveys when the political disturbances commenced last fall, as well
as those for our proposed connections in Petersburg. The authorities
of this State considering it necessary to the successful prosecution
of military operations, have directed a connection of all three roads
in both cities be made. Surveys and estimates are now being prepared,
and it is expected that in conformity with these surveys and estimates
the connections will be speedily made.
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Some correspondence has taken place between the President
and the Post Office Department of the Confederate States in regard to
the transportation of the mails over this road, but as yet no definite
result has been arrived at.
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The report of the examining committee and of the
superintendent will fully show the condition of the roadway,
buildings, machinery, and other property of the Company.
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The efficiency of the officers and agents of the Company is
best exhibited by the safety and regularity with which the
transportation has been conducted, under circumstances which have for
some time past called for unusual exertions, and by the creditable state
in which the roadway and rolling stock is found.
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Charles Ellis
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President
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May 28, 1861
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