Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1836-07-15
nO7a ESTHC.

.Sc,o organization o. the R!chmoH0 u'," S;,., -;
comnamv-lt will he perceived by the Proeeeolngs"
the stockholders in this Company, that al 'G genL
meeting Yesterday. it determined that the @ ,h
OF the Company ought TO be sasarea olnce 'u nh
salary was fixed at $4,000 a.year, ana e"nwey Al
.on ESQ unanimously elected 10 fill The station Mt
Robinson we learn accepts the Office and IN ora'r 70
command the time requisite for the discharge OF ms ON
cal duties will withdraw from practice IN t"e CnI
Court of Henrico, combining himself hehce'ofl ~ ''
Court Of Appeals and Federal Courts.
In the new organization Of the board, there was one
individual whom sure the company mus. "S,s
been reluctant to part with when tne Himself
first suggested Dr.. Joseph NJ. Sheppard eSei.eu I
TO procure subscriptions for the preliminary SUI
He afterwards aided efficiently in procuring soou .a
ter for the company and then in obtaining
to the stock. Having taken SO oecued hser look
cd 10 as its President but for the necessity OF "%Ts "
this Office an individual residing in Richmond. ne ~as,
however, appointed by the Board OF Directors an
of the Company especially tor the VI nss
releases 70 lands along the line, and has been ios' use
full in this character. His duties as agent are no" nea
" competed and that being the case he u'u EoI Cart "
remain in the board any longer-Co~pae''
RICHMOND, FREDERICKSBURG AND foio-
MAC RAILROAD.
Ro, f the President and Directors to the otockhoaeTS
In conformity with the act incorporating 'he ssocs
holders of the Richmond Fredericksburg ana lo'oniao
Railroad Company, the President and Directors VINO o
were APPOINTED on the Goth day OF june 1902 Tue
oownG account of their proceedings TO the STOCK holders
At their annual n,eeting the Goth Of jung, iSoo:
In the last annual report the stockholders, 1t was
stated that line Of railway had been iocStea ott"ee"
Richmond and the Matapony, superior, even 10 t s""
;ne authorizations of the board and the rxeculnn OF
Which it was ascerained would be effected al
abe reduction from the first estimate OF Inc ens 81
The hope expressed that Inc would
king between the Mattapony and Fredericksburg "ouu
result in improvements equally important, IN winch case
it was confidently anticipated that the whole expense o'
the work to Fredericksburg, including Tue COST Oh ue
nots ware houses and water-stalons, locomotive en-
nas cars and carriages would not exceed an aggregate
sum Of s65O0OO instead Of $685. s2 q cents, the hFst
estimate. &C.,. ;. e ...s.
The hopes of the board to dminulion OF expense
in the location Of this last portion OF the line were
onIv in part and since the last meeting OF the stock
holders, great enhancement has taken place m the
prices Of labour and provisions IN every PoIon OIL ee
country This enhancement has been prooably less et
in vrgnia than elsewhere but has still Existed to sui
cient extent to make it necessary TO add TO the contract
prices Of much of the work From the above causes e
whole expenditure for the rail road and tor moving pow
err whilst it will still be considerably within the hrst cs-
innate Of the engineer, will exceed what al the last
meeting Of stockholders it was hoped would cover u
AS far a. the board judge, the whole exPeno
lure to Fredericksburg will not vary ina'efly ''o "
aggregate sum Of s 80 000. .
The 18th of February last the road being then ready
for transportation from Richmond as lar as South Anha
river was thought expedient to open Tor use 10 a
point The whole Of the first division, extending TO Inc
North Anna has been since the 9th OF last mnnlh
Within few days past additional portion has been
completed and passengers and produce are RIO" convey
half the distance Fredericksburg The board ente.sa"
no doubt that by the first Of August le ROAD VIII OF
opened TO the depot near the Bowling Green and conf.
IDENTIFY anticipate its entire completion to Fredericksburg
in the course of November.
The advanced state Of the work Of course, makes 1t
necessary 10 call rapidly the stockholders. Before
the date of the last annual meeting only share mao
been required Since then, the board, by resolution
of the LIST September called for 5 share, payable In
instruments OF S. each on the 10Th of each OF the
ing FIVE months On the 9Th Of March, a further call
was made of $40 share, in two instruments Psyaeae
on the 18th of the two succeeding months And ~
laie resolution Of the 2Gh Of May, the residue OF the
capital stock being $40 each SHARE has been required
to be paid at the following times, to wit So on the 2Olh
Of June, 18th Of July 10th Of August list OF September
October November, December and January The pune
tuty of the stockholders hitherto almost without ex
cepton, furnishes that the late cali will be
punctually met As, however, it will be desirable that
the amounts called for should be received even eaer
than they have been asked the board have determined
10 allow stockholders who may anticipate ter install.
ments, interest the amounts advanced BY them until
the periods when the same would be payable.
Since the last annual meeting, the Board OF Public
Works has subscribed 10 the stock of this company for
the amount authorized and required by the Act OF AS
senby, passed January Esd, 1886, and upon the terms
and conditions specified in that act and the Board has
accepted the subscription so far as il was authorized to
accept it. To obvatc all difficulty arising out OF the cir
eumstancc of the ptions by individuals exceeding
three.hs Of the capital stock by forty shares on
act of Assembly was passed on the 25d OF March, 1850
Works should be considered subscription for forty
eight shares less than hs of capital stock that
TO should bs considered subscription for 272 shares
and elinquishng all claim Of the Common wealth TO any
greater number of the existing shares By the terms
Of the act which authorized the su6scriptioa the Com
monweath not TO be called on for than $llD,
000 during the year 1885, more than $4,000 dur
ing the gear 1896. Consequently, there will he
OF 200 account of the Common wealths subscrp
ton, which cannot be received until after the first of
January next As before that time the whole line to
Fredericksburg will have been ompieed and the whole
caPal wanted-the PRESIDENT and Directors think il
probable That Will become expedient during the yearto
make temporary loan. From the good siapdinr and
credit OF the company they entertain doub, present
that any amount which may be required could be obtain.
ed on mere resolution Of the board. But tn ona,d
against any difficulty in this respect il mirh he
advisable for the stockholders to authorize the board to
sary or expedent tor the payment of the sum borrowed
and its interest. |
An account of the disbursements Of money since ,b
last annual meeting has been nude out according 10 The
charter and will accompany this report The Treasurer
has also been directed to prepare statements showing The
amount of revenue received each month since any po
ton of the road has been in and the whence
derived whether for stage passengers local
or freight Such statements, it thought the stock
holders would probably desire 10 have printed along with
this report for their use.
From these statements it will appear, that from the frs,
&c miles of the road the receipts during the last month
were about $780, 1t is believed that on the portion of
the road in use, being before mentioned about
half they may be moderately estimated for the re-
nlander of the year at 81 300 month"; $5l GOO per
annunl. Estimating the expenses of transportation and
repairs at so per cent of the gross receipts of the compa
n.y. proportion which the experience Of the Petersburg
and Roanoke Company shews be abundantly sufficient
nett profit will the stockholders on their pre-.
sent business equal interest of between and
cent on the cost of the first half of the road
The anticipation at the last annual meeting that it
would be in the power of the board if deemed expedient
to declare dividend to the stockholders in little more
months from that be coDsi.
dered realiped 1t has occurred 10 the board that it