| From the Western Democrat (Charlotte,
N.C.) |
| |
| February 5, 1862 |
| |
| Charlotte & S. C. Railroad {Charlotte
& South Carolina RR} |
| The Annual Meeting of the
Charlotte & S. C. Railroad Company will be held in Columbia
on Wednesday. The President of the Road has kindly furnished us
a copy of his annual Report in advance, which we insert below, and
from which it will be learned that the Road is in good and prosperous
condition: |
| To the Stockholders of the C. & S.
C. R. R. Co.: |
| Your President and Directors
would respectfully submit the Fourteenth Annual Report of the Company
ending with the 31st December, 1861. |
| The earnings from all sources |
$293,616.80 |
| The expenses for same |
100,488.82 |
| Leaving a nett income of |
$193,127.98 |
|
| Of this sum $20,000 are due
and payable in the stock of the Atlantic, Tenn. & Ohio Railroad
Company. |
| The Road has done much
transportation of passengers and freights at comparatively low rates,
and while its earnings are not greatly less than those of last year,
the proportion of nett increase is greater than it ever has been. The
expenses amount to less than 35 per centum on the gross receipts. |
| The business of the Road has
been conducted without a serious accident during the year. The
Engines, Cars, and other property of the Company, are generally in a
sound and healthy condition. The Engines have never been generally in
so good order. |
| Notwithstanding the large sum
advanced in aid of the A., T. & O. Railroad, and the $32,000 of
Bonds in your Treasury, the Company can readily meet all of its
obligations maturing on the 1sr January, 1862, including the
redemption of $25,000 of its Bonds. |
| The apparently large amount in
the Agent's hands at Charlotte embraces the funds left with him to pay
the January dividends, interest and Bonds maturing then, as well as
the unpaid charges on freight awaiting shipment North. |
| After paying the subscription
of the Company to the stock of the A., T. & O. R. R. Co., the
balance due will be about $95,000 instead of $116,289.64 as appears in
the Treasurer's account current. |
| The Road of the A. T. & O.
R. R. company has been completed, during the year, 36 miles, and is
expected to reach Statesville, a distance of 45 1/2 miles, early
in June at an entire cost of not exceeding $400,000. This is less than
the original estimate of the Engineer. The prospects of this Road,
when finished, for a profitable business are very flattering. |
| After discharging all the
annual liabilities of your Co., including interest, dividends, Bonds,
and subscription to the A. T. & O. R. R. the excess of nett
earnings, carried to surplus fund, is about forty-five thousand
dollars. |
| Respectfully submitted, |
| Wm. Johnston, Pres't |
|