| From the Richmond Daily Dispatch |
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| December 3, 1862 |
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| South-side railroad |
| The President of this line of improvement,
Mr. Thomas H. Campbell, has transmitted to the stockholders the 13th
report of the operations of the road, commending October 1st, 1861 and
ending September 30th, 1862. From this report it appears that the
receipts during the year were — from passengers, $243,277.06; from
freight, $266,978.88; for mail service, $14,357,95; for express
freight, $14, making a total of $579,958.38. The expenses of
conducting the business of the road for the same period were
$217,265.12, or 41 per cent of the earnings, leaving the net earnings
$342,693.26. A comparison of the years 1860-'61 and 1861-'62, shows an
increase in the gross earnings of 1861-'62 of $222,434.20 and of net
earnings $184,511.93. |
| During the fiscal year, from October 1st,
1861, to October 1st, 1862, the company paid of 8 per cent $15.250; of
6 per cent. bonds, due January 1862, $60,900; of interest to the State
of Virginia, accruing during the present year, $56,000; and of arrears
of interest due to the State on former years, $84,000, Interest paid
to others than State, coupons, &c., $51,359.73. The other
liabilities of the company have been reduced by the amount of
$32,809.43. The assets have been in $28,279.54. The actual financial
condition of the company is stated at $219,385.15 better than a was at
the date of the last report. The remaining debt now due to the State,
for arrears of interest., is $96,000 -- a payment of $12,000 having
been made since the first day of October. There will fall one on the
first day of January, 1863, $28,000 per cent coupon bonds. No other
bonded debt has to be met until the 1st of January, 1865, When as debt
to the city of Petersburg of $87,500 will fail due. |
| The President alludes in his report to the
destruction of the property of the company at City Point by the enemy,
in consequence of which this branch of the road has been very little
used, and the receipts from it very small, of course. The rolling
stock has diminished in value, but has been kept up as
perfectly as circumstances would permit, and recently there has been
secured from the Government a number of wheels and axis, which will
enable the road to increase its rolling stock
sufficiently, it is hoped, to enable it to meet the demands upon it
for the ensuing year. The railroad track is better ditched and filled
than it has been for several years. It is rough in some places from
the fact that the company have not been able to procure a sufficiency
of iron to replace the worn bars. The bridges are safe — some are
undergoing repair, and others will be repaired and rebuilt as as the
necessary timber can be procured. |
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