| From the Memphis Appeal |
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| January 10, 1862 |
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| Memphis & Ohio Railroad |
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| We have lying before us
the eighth annual report of this road, laid on our desk by our
friend J. M. Tomeny, Esq., the popular treasurer of the road. The entire
line extends from Memphis to Paris -- 130 7/10 miles, and was completed
May 11, 1860. The grade is so even and the general line so direct that
trains have not been interrupted a single day by freshets, winter
severity, or any other cause than military exigency, nor has a single
passenger ever been injured while passing over the road. The first train
to Louisville, on the 15th of April last, run the entire distance in
twenty hours, the most expeditious traveling up to that time ever
done between the two points; the time has since been reduced to eighteen
hours. The cost of the road up to date has been $3,416,676, or $26,000
per mile. The business of the past year amounted to $365,521, expenses,
$194,098; nett profits, $171,422. In the face of the war the business is
increased, the nett receipts of the last year being $101,962 beyond
those of the year previous. The investigating committee report that they
found the vouchers of money paid out correct in every particular, and
pay a high compliment to the treasurer, Mr. Tomeny, for the very
systematic manner in which his books are kept. This officer's report
shows that the nett receipts of the last financial year were only
$59,897 less than the total nett receipts up to October 1st, 1861,
showing that the road netted nearly as much in that one year as in the
previous five; a striking proof of its progress in prosperity. The
recapitulation of the general cash balance sheet shows a balance on hand
October 1, 1860, of $16,701.31; receipts from then to September 30,
1861, $681,485. Total, $698,186.92. Disbursements from October 1, 1860
to September 30, 1861, $694,285.79; balance in hand October 1, 1861,
$13,911.13. Total, $698, 186.92. The total funded debt of the company is
$2,022,000; the floating debt amounts to $374,334.47, against which are
assets, cash and cash assets on hand, $104,356.13, leaving the total
floating debt $260,978.44, and the total liabilities of the company
$2,291,978.34. The report of the superintendent, Thos. Dodamead, Esq.,
states that the company own thirteen locomotives, twelve passenger cars
and over a hundred other cars. The number of hhds of tobacco conveyed
over the road for the year ending October 30, 1861, was 1772 and 2210
boxes; of cotton for the same period, 51,968 bales. |
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