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

add ,r,h,hIv hest suit those stockholders in ths eou
who are also stockholders in the State Banks 10 re-
ceve their dividends from this company at oth.i
than January and July. They contemplate uecas,"s
the first dividend on or before the ISL Gay u 'o'e
next aud thereafter semi.annualy y.
The first dividend though at the rate before me"'on
ed on the Of that portion OF the rnad ~hic" sai
have produced it, will be nomlnay small per share. II
will, however, be not less IMAM % on each sH"'e' '
badly il will be more.
The board now feel tina, they hazard nothing in say
ing to the Stockholders that their expectations Of pHdnc
lyeness from the work, al the time 1t was embarked ID,
will be more than realized; that instead of dividend m
or per cent, aeay the cost Of the road. at the ex
paticn Of the first twelve months from The PERIOD Oh ,Is
completion. one of 10 per cent may be confidently i'oN
oned on. r,
Gratifying as these results are, the prospects al t'
company are still more Haterng. 1t was menu"h hsI
in the last annual report that branch ran Io :, ~
been projected from THE neighborhond OF layitse'o "
the Southwcs, mountain An act incorporating .oa.
pany fr the purpose OF making l f"au' VIZ p
at The last session of the Legislature The Doa1e tt-
tcrtaniru the opnioa that the construction Oh ,''S
road would add largely to both the trace a"u
the road committed IN their cha!se oce'ntu n h
BILE to mid so far as they could IN o1WarulGs .'e ""
;ect Believing that nothing could be done better cal
cu,at-d 10 advance the measure than drciarau""
of the course which would be puFS"eG oy t.''s SD'i
pany, in regard to the trade and tra'ti P'nSiis
the one rfad mon the other, the board, on the
twentieth Of Apr last, came TO q dcteriinatioh oh
this subject which has given general sa'iS'ac;h 20
those who were inclined to embark as stocAh"'or's III
the Louisa road The board decared that upon oe'nS
informed bv the Louisa Company OF the lois
upon the Louisa road it would adopt their tolls as tue
tolls of this company for the transportation oil PERSONS
produce merchandise and other goods received rom W
delivered upon the OF the Louisa company az Tue
poiut of conn.c,ion and charge for the same only SO
much per mile as be charged on the Louisa road
with this provso, however, that The rates hxea ny Tue
Louisa Company be such as TO enable that COMPANY al
ter the payment Of all necessary expenses anu seng
r ,,,l,ta Fcrr
required by their charter to divide at least six
Der annum on the capai invested init Books nave
since been opened, than enough TO incorporate the
company has been subscribed the president ana oiFec-
tors appointed and other measures taken tr going on
with The work The accomplishment Of this work VIII
BRINE upon the road committed TO the board not only th
travel between the West and Richmond, but the raVF
between the West and Fredericksburg, la &c amount
of local travel. and ao extensive trade IN anu
turn iregl.s all of which will he sources of profit to the
stockholders in the roads, and OF benefit to the CITY
of Richmond.
company has been recently organized to make the
railway between Richmond aud PETERSBURG, OF wn!cn
mention made in the last annual report the location
of the road now going or, and the work ITSELF II Is I'M
derstood, will he speedily commenced The execution OF
this work may be expected TO add largely to Tie amount
of Northern and Southern travel upon the roao uhuel
charge of the board.
In addition to these improvements another, the ita
leigh and CASTOR Railroad, not contemplated at The last
meeting of stockholders, but which, II more remote,
will be not less advantageous IN It's influence on Tile i'n
provement committed 10 the board, has been lately un
dertaken. .
With these additional and Important sources OF pro
il NAV safely be presumed that the work committed 10
the board will on the completion Of the roads Just men
toned, if not sooner, realize the maximum OF i'eeh per
cent allowed by the charter t. the stockh"!ders
Viewed in this aspect the right 10 increase the capital
stock 300 COO with the privilege TO the individual stock
holders of taking the additional shares, impars greater
value the stock now held by individuals ne compa
Il fhar noh a
sable to do So from It's point Of termination within The
town Of Fredericksburg to the Potomac river or some
creek thereof Whilst may be preferable IN one point
of view to defer increasing the capital un the present
stockholders, generally, can find II convenient 10 aVa!
themselves of the privilege reserved to Them will EVIL
IDENTIFY he desirable make The increase OF capital soon
enough the completion OF the road between
the liappahannock and Potomac by the time at when
the above named Will probably be IN opera
ton Before this road can be constructed it will devove
on the board two preliminary surveys 10 be made
one Aqua creek point contiguous thereto, ana the
other to Potomac creek contiguous point these
and some other preliminary measures 'e BOARD c"ne
plate taking during the present year Should Inc Stock
holders at the present meeting declare that they deem II
advisable extend the road TO the Potomac the board
would probably deem it expeden prior to the next an
nua meeting The capital stock OF the compa
ny to the extent authorized by The charter, the whole
amount will probably be required tor The purpose oil exc
cutting tho pornn of the road just mentioned, and for
providing the increased number of locomotives, cars ana
carriages which would he required LOT us hcteusea
and travel.
Soon after the las, annual meeting, arrangement
was made with the Bank OF Pennsylvania, whereby Ia
c,ies are afforded TO persons residing in Phae PIMA or
its vicinity !o making transfers ostOck in the mode su
pesed in the last report Tie Philsde phla stnckh"d1
deposit their instruments in tie same bank and viii there
receive dividends on their stock whenever declared
The President and Directors cannot close their report
without calling the attention Of the stockholders TO the
necessity of moro efficient organization OF the copa
n.y. AS one step towards it, the nsicc of Treasurer and
Clerk has been placed contiguous 10 the depot and the
late Treasurer being able, after this change of lpca
ton 10 continue in the Office consistently with the do
ties of another station, and having III consequence re-
signed Mr. Hilary Baker has teen appointed in his stead
Another measure of more Importance is deemed indls
pensabe Relieved, the president has been great
degree by Of Tie directors, who has acted IN the
country agent of The company; and by another d.
rector, residing in Richmond who has aided as tas as
he could preparing business for the board and attend
ing to the finances OF the company the president has
still found more of his time occupied by the duties OF
his Office than he could conveniently devote to it, and
has been desrous of signing for some time past He
has deferred resgning has long, because was thought
preferable by the ether aebezs of the board, as we'll as
by himself that the appointment OF his successor should
he made by the Stockholders i'll general meeting. The
buard cannot orbear TO mtnlion that, while the duties
properly devo!ang On The President have heretofore
been very considerable, they still on the increase,
and upon the in which they shall be discharged.
the prosperity Of the company most essentially depends
Necessity, therefore, exists for adopting similar
to those taken by the Petersburg and Roanoke Company
procure for the office Of President, individual, who
will be able to give to the Office all the time that will
be necessary and discharge the duties Of the station
in such manner as the interests Of the company
quire
All of which is respectfully submitted,
By direction of the Board,
JOHN a. LANCASTER, President.
Proceedings Of The Stockholders in General .icctng.
At General Meeting of the Stockholders in the Rich
mond Fredericksburg and Potomac Rail Road Compa.
ny, on Monday, 10Th Of June, 1856:
Wyndham Robertson, Esq, was appointed Chairman
of the meeting, and Hilary Baker, Secretary.
Tho list of Stockholders being called over il appeared