| From the Jacksonville (Ala.) Republican |
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| July 18, 1861 |
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| Ala. & Tenn. River Rail Road |
| A Convention of the Stock holders of this
road, met at the Shelby Springs on the 10th instant -- and re-elected
Thos. A. Walker, President -- and the following Board of Directors: John
W Lapsley, Charles Lewis, G. C. Phillips, P. J. Weaver, Walker Reynolds,
W. B. McClellan, W. L. Terry, E. T. Watts, B. C. Wyley and Isaac Stone. |
| An annual report was laid before the
Convention by the President, which was read and distributed. From that
report, which is before us, we glean the following facts. The
gross earnings of the road for the last twelve months ending June 1st,
1861, amounted to $196,398.23. The Report of the Treasurer shows that
receipts from all sources for the last year amount to $605,340.21. Total
paid out for all purposes $534,965.89. Leaving cash on hand, bonds and
bills receivable, $70,374.32. |
| The chief Engineer reports the road
finished on the first day of June last to a place called Munford, eleven
miles North of Talladega, and at this date the road is finished to the
next station, called Silver Run, four or five miles further. In August
the road will be finished to Oxford, 130 miles from Selma -- in October
the road will be finished to the steam-mill, now called Milford 135
miles from Selma. Here the road will have to stop for the want of iron
-- the iron contracted for, for the completion of the road is shut out
by the Lincoln blockade. The road cannot be finished until peace is
restored, the blockade raised or domestic iron can be procured. The
report shows that $299,963.71 was expended last year on extending and
constructing the road. The same report shows that the sum of
$2,711,172.77, has been expended in constructing the road from the
commencement to the 1st June, 1861. |
| From Milford where the road will stop to
Jacksonville 9 1/2 miles, the Engineer estimates the cost to be $95,
694.00. From Jacksonville to Gadsden, total cost $262,444.00. |
| Thus showing the total cost of road from
Milford by way of Jacksonville to Gadsden to be $358,138.69 a distance
of 32 miles. |
| The tabular statements attached to the
report is worthy of special notice. |
| We are pleased to see that the Convention
adopted a resolution, proposing to receive the Treasury notes and bonds
of the Confederate States in payment of all dues to the road, and
individual members pledge themselves to receive the same in payment of
all debts due them as individuals. |
| We publish the resolutions in another
place. |
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