Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1845-06-26

reelected, viz: DIR. JouN w. RICE, President,
and LLOYD LOGAN, II. ALLEN, and ID. CRAwroap,
osqrs. Directors.
The State Directors are Col. S. HARNsBAncrn,
]. Is. BREcKENRIDoE, esq, J. g. SHipMAN, esq.,,
Mr.. NEAL, and p. CONRAD, esq. State Proxy
RoBERT GRATrAN, esq.
Us. CALVERT. esq. has been re .appoin,ed Sc.
cretary and Treasurer, and Mr.. PARKrNs Superin.
tendent Of the road.
The next annual meeting Of the Stockholders
will be held in Harrisonburg.
THE SIXTH ANNUAL REPORT
or the President and Directors of the VaMv Turn.
pike Company to the Stockholders in Genera
Meeting, held in Staunton, AUGUSTA Co., "a,
June lS, 1916.
LIST. Since the last annual Report of the Board
the bridge across the North Shenandoah River.
has been completed at cost Of S45IO which
IS S3'74o less than the one first erected at tina,
place.
end. 1t will be necessary that the S,oney
Creek bridge, which was an old county bridue
and which has been standing for 90 years, should
undergo thorough repair, and more than likely.
VIII require an entire new superstructure and
some repairs to the abutments and piers.
81. WIN respect 10 the remaining bridges, of
the larger class along the line thew NAV be said
10 be in about the same condition as when last
reported, and as then observed, will require pre-
cautionary expense TO sustain them i'm conse-
quence OF their having been SO mperfectly built
in the first place.
Attn. The most Of the smaller class of BRIDGES.
Will require considerable repairing during The en-
suing year.
9Th. The road in general may be represented to
De In good condition, and when compared with
o'her iurnpikes, may, with great proprety, be said
10 be The best In the State, if not equal TO any
elsewhere. But notwithstanding this, certain
amount OF repairs will be necessary every year TO
Keep 1t up to what it now is.
9th. Various views have been entertained ae
regards the best policy to be pursued in reference
to Keeping the road in repair, all of which have
engaged the attention of the President This
however, is subject that had better be left with
the Board, who will have it Immediately under
their charge.
7th. Many of the difficulties and controversies
Oh the company have been settled and arranged
wlthn the past year. In some of its legal con-
troyersIes, much time seems to have been unneces-
saIi'y consumed in getting them adjusted This
delay, however, was unavoidable on the part of
the Company, and in most instances has resulted
10 It's advantage for reasons perfectly obvious to
those intimately acquainted with the.former con.
dition OF the affairs of the COMPANY
Legislature, authorizing loan by the Valley
Turnpike Company, and giving the States qua
ranty for three-hfths thereof, and mortgage
upon the road for the other two-fifths, and
the puBctual manner with which the Compa-
ny has met all engagements entered into within
the last two years, has had the effect of placing
the credit of the Company on quite respectable
footing; for instance, bonds of the Company,
payable at short dates, are subjected to very
small discount when forced into market; whereas,
two years ago ii would have been difficult to have
cashed them at very heavy discount.
9th. 1t will be found, by reference to the last
annual report of the Board 10 the Stockholders
herewith submitted, that the calculations and es-
Inmates therein made in reference to the opera
tions Of the past year, have been TO considera-
BILE extent verified notwithstanding the drought
OF last fall and this spring, which operates as il
always does, against the Company, by improv-
ing the common roads to other markets.
10th. In conformity with an order of the Stock
holders passed at their last annual meeting great
exertions have been made to ascertain the true a.
mount of the liabilities of the Company, and the
amount herein reported, is believed to be as near
the actual amount as can be ascer,ained
lth. Amount of debt reported
June Ia, 1914, was, S65,4 s4 III
Amount paid as permanent re-
duction Of the same with the a.
mount on hand June /, 1885, 1928 Is
S57,655 90
Amount saved in the settlement
OF claims and the adjustment Of
controversies by securing credits,
&C., to which the Company was
equi'ably entitled, 3,145 CT
Leaving balance Of debt now due of S54 $40 90
winch amount embraces all the interest upon
outstanding estimates and drafts, Law expenses,
Land damages. &C., and constitutes the entire in
debtedness of the Company up to the LIST June,
1915.
18th. To amount Of balance on
hand LIST June, 1914, S1,22s So
Tolls received the year ending
LIST June, 1915, 1876 II
Received for stock subscribed by
Board of Public Works, 776 90
Received for stock subscribed
by Individuals, 1876 90
Interest received on settlement
OF claims, 166 81
Total amount Of Reefs for 1645, Sl7,792 AZ
by total amount of expenses
for the year ending June J., 1915, S6,437 96
TO which add amount paid on
old debts, interest, &c. 1912 OF
by balance on hand June j, 1915, $50 40
Sl7,792 AZ
18th. II will be perceived by reference to the
last annual report, that the estimate therein made
Tor the expenses OF the year ending the LIST June,
1916, was $4,000 90, whereas they were S6,437,-
Sc; and the total amount Of receipts estimated
AZ ~ 49,,