Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1846-10-17
TWENTIETH ANNUAL REPORT
OF ThF PRESIDENT AND DIRECTORS
TO THE STOCKHOLDERS OF THE
BALTIMORE x OHIO RAILROAD COM.
n

PANN.
In submitting TO the Stockholders the TWEEN
tieth annual report, the President aud Dircc
tOrs oi the Baltimore and Ohio Railroad Com
pany have IL IN their power To state that the
President, having returned to the United
States, has resumed hi, duties at the head OF
the Compauy. Returning 90 his post only al,
the CLOSE ot the year. however. IL has been
thought best that the general operations of
the company should D, stated BY the president
pro tcmpJIe, by whom they were conducted.
end Tor that purpose the Board refer 10 his
letter addressed 20 the president. and dated
the 9Th ot the present month
The atlsifsoi the company are accurately eN-
mbiicd in the following and annexed state.
lneuts.
TIE statement presents he state Of the
companys affair, or the Both ultimo, aud the
revenue anG expenses OF he Main Stem for
The year ending on the same day. are shewn
hy the statement r.
The tabular statement marked c, prepared
by the Engineer OF Machinery aud Repairs,
presents lu detail III operations Of the main
stem, aud the actual expenses OF working that
part ol the road dunng the year; toge thef with
the amount OF receipts from all SOURCES during
the same period And, IN order that the se-
Tics OF these statements should b. made COM
pete. q similar statement in regard TO the
main stem during the year ending the Both
September. SO, aud omitted in the r. port of
that wear l. here supplied, marked ID.
These statements show steady increase in
the transportation both OF passengers aud bur
then. II will be observed tina; the increase
ia the number aud m the revenue from the
conveyance OF passengers IN the year Just clos
81, compared with the preceding, hss been
more Than fourteen per cent. During the same
period the augmentation in the amount al
tonnage transported. has been more than thir.
", and the increase ia the revenue from the
same source, a. compared with receipts OF the
preceding year, has exceeded twenty six pcT
cent. IL will also appear from the complra
tive statements accompanying ihis report that
the COS, OF working the road has not been
greater. Ia proportion To the work done, than
during The preceding year.
IL VIII be seen that the net revenue inclu-
dug the receipts from the coal trade, after de-
ducung the expenses OF working aud kee ping
the road M repair, amounted TO the sum OF
slIO,475 3i-heing 500 7l3 90 greater than
the previous year, aud more than si1 per q.
upon lhe capital OF the company. oi the
on account Of the debt due the MesSrs. Il, r;ng
theTe have been applied during the wear To the
reconstruction ot the road and TO the con.
stTuction OF burthen cars adapted 10 the gen.
eIai trade; To improvements OF the depots and
TO night oil way, To the pur .hase OF locomotive
'hSlheS ana The construction OF water stations
40 uhe purchase ol additional power and ma
chinery Tor ihe accOmmodat ton OF an increas
ing coal trade. aud on account of snb,crin
Ton on behalf OF the company 10 the capit !.
stock OF the Pittsburgh and Connelsyill,
kahroad, the further sum of S2StlSi 76
making together S3i9 1871 i0-aud leaving a
the net revenue oi the year at the disposal q
the Board the sum OF SOC, $40 gI-of ahou
one anda quarter per cent
The motives which justified the Boarl /,
determining upon the reconstruction OF fla,
road, under the circumstances ere stated /,
we Ielief OF Tie President pro tempore. Tia
podtd could not doubt their sufhciency, an,
u'i Were believed 10 be too urgent to ADM
oi delay. The Boaul at the same time deter
inined 10 raise the means ior the reconsttnc
uOn OF the entire length Of the road betyyee
harpers Ferry and Baltimore by the sal. &
'hc company sly per cent. bonds ia yable i
twenty years, aud believing that sjifhcicu
sum Tor THIS purpose might ~ this way a
raised M season 10 meet their eng cement,
they directed thirty miles of the road "a \
immediately placed under contract. Thecnn
"acls were accordingly made, and the wor
cmhTdccd IN them will cost not less tho
Soio ,SOO-and may be expected 10 b. com
neted before tho FIRST day OF March next.
Inc sale OF the compduy's bonds, however
was noy,ehected according to the exp.ctstio
oi the Board; AMI, TO meet the payments uu
Ger the contract, II became necessary TO sci
'"c oonns al sacrifice varying from To II
Per cent. or temporarily To appiy the revcnu
o' the year, 10 be hereafter reimbursed C,,r
future loans Tho Board thought ,hey b,s
consulted The Interests OF the STOCKHOLDERS 4
adopting the latter alternative.
IL would seem also that the time hal NO,
NnI Ntsr. 4 D..
definite arrangement for the rrimbur,, mo,
20 the stockholders OF the moneys TIN lao,
the annual revenue aud applied 10 the pn
CHASE OF the power and machinery on accom-
OF the transportation of coal
The coal trade, lu It's origin. was. iu s,,,
degree, experimental, Rnd intended IA, M
most part, To be- confined 90 special contra,
oomprehending large amounts, 10 br conduc
81 WIN particular regularity aad s times IA
ltrcnt from the genersl MISCELLANEOUS bus
ness, IL was intended, therefore. 20 rmbrBr
lIts particular branch OF transportation u
distinct account, aud by changing N onl, VII
iha capital actually employcdsni ihe ,4uen.
"l conducting 30, apart from other trsugD,,
"hon Ito boz able TO trace with greater &c,
'"'uly iie &C. suits Of tbc trade aud the ex,.n
u" "ilrh 81 might hereafter b.. advsptsqeo,,.
iy carried on. These objects were st,i,,i /,
i',e answers Of ihc board to tb. ,uo,,i,,,. !,
Zoe legislature 90 1911 aud in ihc annual ~,
ppU "i ihe same year. the Bpsu acu,n,,,,t,
'Ir .p Fh1llcfa uia' for thr purpose of su,
'.-euiiy conducting tbis trade thr, bad l,,,
f2"sd ihc capital from tic revenue. and ,
1tif intention 60 rimbur, itispu tII. prom,
iHe 'wtc. Ibr Bpacit, Ia traitsl,of, ,,s,
ANHer 90 clesp rles and at epOd profit.
sears DO, been practically a~,,ftainca tI
ili-.i iH consequence Dl tie opcfatiou
has Min's and 40. uaiuIe oi toe densnd
sgrutiYY ttlehisd beyond the limit. q
-.psrsti1u Dor advantage Doe cUhtiuui.,p N,
tuiD..ouarr. ,ll- from iIe other bfsuri,s. /,
lID determination ~. uu