Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1849-06-18
MISCELLANEOUS.
RICHMOND, FREDERICKSBURG AND POTO-
MAC RAILROAD.

MAC RAILROAD.
Some Interesting facts concerning the affairs Of this
work stated in the annual report of the President and
Directors which was Submitted TO the Stockholders on the
! 2Sh of May.
"The ncome of the company for the year ending the
3lst March last was 5 % 95i So being an increase on
the income of the previous year Of $500 ~ and
the current expenses Of the year SOC 036 H. being
dimnu,on. compared with the current expenses Of the
previous year of 1872 IT, making improvement in
the business Of the year compared with that Of the year.
ending 3lst March. 1913. Of Sl0l23 GO.
eiucifng the current expenses of he year 1916 036 IA
from the income of the year. $9S 95i So, leaves bal
ance Of SlO29lS A. Out Of this sum. the Board were
enabled after paying all .charoes for interest, and the
balance due for rebuling the South Anna Bridge CS7
2 81 besides adding to the stock of materials hand
to pay the usual dividend of seven per cent to the Stock
holders and 10 add 10 the contingent fund of the company
the sum Of S2024 92''
In reference TO the renewal Of The mail contract the
port avs:
"Te Board Of Directors arehappy to state that the mail
was restored TO the road the 18th of December last un
der contract between the Post Office Department and the
Rail Road and Steam Boat Companies beteeen RICHMOND
ana Washington, by which it is agreed that the compa-
MES are 70 have the privilege of connecting with either
the morning or evening line from New York, they may
from time 10 time, prefer, giving the Department two
months notice of their wish to change and under which
there is no obligation the steamboat company the
former contract, to keep up ice boats the Potomac
These silpuIaOns and some others in the contract the
Board of Directors deemed be important and sufficient
to justify their taking the mail at the price offered BY the
Department."
With regard to the difficulty about the extension of the
Louisa Railroad to the city of Richmond the ep1 after
stating the circumstances under which the disagreement
between the two companies reached head, has the fol
. lowing statement
"The Board ofDrecors deemed il incumbent on them
under these circumstances, to ascertain the rights of this
Company. under It's charter and resist by all lawful
means both the construction and Of the proposed ex
tensonof the Louisa Rail Road Inconsistent with its
guarantees
Thinking probable that the case mic hit be carried be-
fore the Supreme Court of the United States they deem
ed 1t advisable 10 submit the whole subject to emnen
counsel Of other States well of this State and for
warded to the Hon. John NJ. Clayton, the present Sec
rotary of State, and essrs George E. Badger and John
NJ. Beren the Acts of Incorporation of the two Com
panles, for their consideration. In reply the distinguish
ed ursts above mentioned transmitted TO the Boari or
the sd OF February last carefully prepared opinion, il
which they arrive at the conclusion ha the act for the
extension of the Louisa Rail Road the Dock in the city
OF Richmond, is in manifest cotaon of the charter
the Richmond, Fredericksburg and Potomac Rail RoaC
Company and in direct conflict with the Legislative
guarantee contained in t' and that the rights Of The
Richmond F. fredericksburg and Potomac Rail Road Com
pany, under this guarantee by the General Assembly
Virginia., may be jndicially enforced
'Forilfied by this opinion, and that of the eminen
cSei retained by tem IN this Slate, the Board CT Di
ecprs cannot doubt the issue Of the proceedings which
they had previously instituted in the Chancery Cour
Of this city, for the protection Of the rights of this Com
.pany.'
1t appears that the cost Of the road and property ha
been ncrased in the year 81 GAG, embracing $l,l43
part Of judgment f$l4,76S against he company il
the Court Of Appeals. for their property in this city, an,
the remainder being for the extension of the wharf Aqu
Creek The condition of the road is stated be good
and the receipts steadily ncreasnghe income for The las
five months being $4,000 greater than the income 0
the corresponding period last year.