| Annual Report of the Richmond & York
River RR |
| as of October 1, 1863, |
| President's Report |
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| President's Report |
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| Office of Richmond & York River
Railroad Co. |
| Richmond, October 1st, 1863 |
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To the Stockholders
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Gentlemen,
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The President and Directors hereby submit, for your
consideration, the Ninth Annual Report of the operations of the Company
and the condition of the road for the fiscal year ending September 30th, 1863.
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From the statements of the Treasurer, herewith submitted,
it will be seen that the gross receipts for that period --
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| Amount to the sum of |
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$446,127.18 |
| And the disbursements to the sum of |
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418,459.91 |
| Amount of receipts over disbursements |
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$27,667.27 |
| Earnings |
| From transportation of passengers |
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$101,613.36 |
| From transportation of freight |
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123,714.18 |
| From miscellaneous transportation |
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6,449.17 |
| From mail service |
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1,860.91 |
| Interest and premium on Confederate States 8 per
cent. bonds |
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7,512.80 |
| Receipts from steamer West Point |
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24,197.88 |
| From other sources |
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640.61 |
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Gross earnings |
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$265,988.91 |
| Disbursements |
| On account of officers' salaries, contingent
expenses, equipments, superstructure, discount and interest,
taxes, &c. |
$14,932.10 |
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| Paid interest on Company's 8 per cent debt |
29,480.00 |
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| Paid on account steamer West Point |
3,960.70 |
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| Paid on account of transportation |
47,503.42 |
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| Retained to pay interest uncalled for on
Company's 8 per cent. bonds |
4,680.00 |
100,556.22 |
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Nett earnings |
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$165,432.69 |
| To which add balance on hand on the 30th
September, 1862 |
$37,873.27 |
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| This sum received on account of capital stocks |
265.00 |
38,138.27 |
| And you have the sum of |
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$203,570.96 |
| Which has been appropriated as follows, to-wit: |
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| Paid for real estate for depot purposes |
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12,504.78 |
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" purchase of cotton |
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80,842.50 |
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" Company's 8 per ct. bonds |
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52,028.44 |
| Paid dividend of 6 per cent. on capital stocks |
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35,207.97 |
| Balance on hand as per statement of Treasurer |
$27,667.27 |
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| Less this sum retained to pay uncalled for
interest on 8 per cent. bonds, as per statement above |
4,680.00 |
22,987.27 |
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$203,570.96 |
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When the fact that the earnings exceed the disbursements
by the sum of $165,432.69 may be regarded as a flattering result, yet,
it must be borne in mind, that by reason of the exposed condition of
that part of the road lying between the Chickahominy and the White
House, to the raids of the public enemy, by the withdrawal of all
military protection, it has been found impossible to procure and
retain the labor necessary for the ordinary repairs of the road
between these points; and it has been found almost as difficult, from
the same cause, to keep inn proper condition that part of the line
from Richmond to the Chickahominy. Hence, large expenditures will have
to be incurred in succeeding years, in repairing bridges, culverts,
trestling, and in ditching, and other necessary work, which ought
properly to have been incurred and charged to the disbursements of the
fiscal year now just closed.
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It would be desirable, if it were possible, in the
present high and continually increasing cost of labor, subsistence and
material, that estimates should accompany this report, of the probable
cost of the repairs which will be required to place this part of the
road bed in a good working condition, when relieved from the
incursions of the enemy. But in the absence of actual estimates, it
may be safely stated, estimating the cost of labor, subsistence and
material at prices ruling just previous to the existing war, that it
will require not less than $40,000 for these purposes.
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For the object of removing the rails and other material
from the track between the White House and West Point temporary
bridges were erected in March last, at the cost of the Confederate
States, over the Pamunkey river, at the White House and at Cohoke Mill
Pond, in place of those destroyed by order of Gen. Jos. E. Johnston,
on his retreat from the Peninsula, the first of which was destroyed by
the enemy while occupying the White House in June and July last, not,
however, until the purposes for which it had been erected had been
accomplished by the removal of the rails and other material to the
south side of the Chickahominy, except a small portion of the track,
about half a mile, which had been left for the purpose of passing the
trains over the river to the King William shore.
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At the same time they tore up and removed about four
miles, or 340 tons of rails, from that part of the main track and
siding, extending from the White House to Bremley's Crossing,
destroyed the Station-house and negro-quarters at Tunstall's, the
lower Black Creek Bridge, and two turn tables at the White House, one
of which was used by the Company, and the other, which had been taken
from West Point and placed at the White House, by request of Major
Gen. Elzey, for military purposes, but never used. The wharf at the
White House, which was destroyed by them in January last, and
partially rebuilt by the Company, was completed and extended by them
for the purpose of shipping the iron taken from the track and left
uninjured when they last retreated.
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The wharf at West Point has been destroyed by order of
Brigadier General H. A. Wise, from some supposed military necessity,
and that part of the road bed lying beyond the White House, having
been wholly abandoned, has been, and will continue to be, materially
damaged by the washing of the slopes and embankments.
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To provide for a supply of machinery and material, which
can only be had upon the raising of the existing blockade, the Board
of Directors has ordered an investment of $80,000 to be made in
cotton, which has been purchased at prices much below the present
rates, and is stored at points believed to be safe from the raids of
the enemy.
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The increased charges for house rent and all articles of
consumption, have rendered it necessary to increase the compensation
of the officers and employees of the Company to an amount nearly
treble that paid them prior to the existing war. The charges for the
transportation of freight and passengers have also been increased to
meet the general increase in the cost of labor and supplies.
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Notwithstanding the very large number of soldiers and
other passengers which have been transported over the road during the
past year, no injury has been sustained by any person. This is highly
creditable to those having the management and charge of the trains.
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The report of the Master of Transportation, which is
herewith submitted, will place before you, in detail, the condition of
this department, which, it is believed, will be highly satisfactory.
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The steamer West Point has been lying idle at Rocketts
for the past year, except for a short time, when chartered by the Navy
Department, to be used as a tender to the gun boat Richmond, they
lying at Drewry's Bluff. She is now being overhauled, corked and
painted, in order that she may be ready to meet any emergency that may
arise. The books of the Company will show that her nett earnings up to
this time is more than four-fifths of her original cost.
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In conclusion, I have to return by thanks to the agents
and employees of the Company for the faithful manner in which they
have discharged their respective duties during the past year.
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All of which is respectfully submitted, on behalf of the
board of Directors, by
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Alex. Dudley
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President
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