The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1853-10-31
The DAILY DISPATCH.
Inc circulation Of the Daily Dispatch exceeds
ombieas that of all the Daily papers Of Richmond
RIcHM0 0ND, va
MONDAY MORNING, OCTOBER 81, ,axa
Va. and Tennessee Railroad
MEETING or sTocknoLpEgs-RE
PRESIDENT Ann ru,rr yx,,.

'i"1hHoLDkRS--REPoRT OF
PRESIDENT AND CHIEF ENGINEER.
The stockholders commenced their sixth
annual meeting in Lynchburg on the esth
inst The report of the President, John r
Mcdaniel, Esq, and of the Engineer, Col.
Charles +. M. Garrett, were submitted 10
The meeting. The Presidents Report is one
of great length. We give sketch of some
of its principal points as wen as those of the
Chief Engineer.
In regard to a Loan it is stated that as soon
after the adjournment of the stockholders as
the Directors authorized the ex.
ecution Of a mortgage on the whole road AS
security for the bonds to be Issued in accord
ance Herewith, which was promptly carried
into effect An arrangement having been
made for half million of dollars with the con-
tractors, and a loan of sl,Ooo,ooo having been
obtained from the State, further efforts were
rendered unnecessary. Oneh half million of
these bonds are held to be issued upon month
" estimates to contractors, and one million
are to be cancelled and delivered to the Sc
cond Auditor of Public Accounts, the loan
bv the State being submitted instead thereof.
The President regards the favorable dispo-
sition which the Stockholders have been ena-
bled to make of the company's bonds coming
INTO their hands as gratifying proof of the
confidence of the operators and capitalists
commanding on their first appearance IN she
market 81 ]-2 per cent, and subsequently
hrinoinc 90 and 9s Upper cent.
In reference to iron, of the quantity pur
chased since the last annual meeting, linciu
ding 1900 tons purchased during the previous
sumn,er,l there have been received and
placed on the track, 100 tons; now IN Lynch
burp 292o tons; now at Port Wathal and
in transit on the canal, 1926 tons; adoat as
advised SIS tons; making $500 tons; being
enough fer the road to reach Mount AIRY,
distance of i4o miles from Lynchbnrg, and
leaves $3.50 tons to be shipped.
A survey Of the Branch to the Salt Works
and Plaster Banks in Washington and Smythe
counties has been made. The President calls
the attention Of the stockholders to the i'm
portance of making known at an early pc
riod their policy and purposes in reference
to the Cumberland Gap Branch.
In regard to the collection of the amount
due on the subscriptions of stock the fol-
lowing exhibit is made:
There was unpaid Iss Oct. la52, on in
dividual Subscriptions sl7s s1 a9 g
On State account. nt..,......'''..'.''''- %f''o"' U"
AL, ,as7 50
During the last year there
has been subscribed OF
new Stock by indiVidE- o,,..
pS St.te e,.,.. t70, ,av0 3S5 100 90
sSe5,ts7 80
OF this there has been ooi-
teGred from isdivldueIs..- It5 10 y
StSte. >N"-'-S" ..os "a
Leaving now due and unpaid. IoS 1sa =,
of which $3.50 500 81 is due from individuals, and
s26 seO frcr the State, showing the coiiectons 20
have been t56 FIVE sxths OF the entire ainonnt out
standing 81 commence cement cf She year, ihci10hs
On lft Oct. 1852, there was unsubscriSed, of the
original amount authorized by the charter by 'hdl-
viduals Sl62 100 There has been takon s1nee, as
shown above $50 500, which leaves unsooscriot0 oS
them S7J,40o.
In December last contract was made
With Messrs Anderson Souther OF hsch'
mond, for fourteen large engines, to be de-
Eivered at stated periods during the years
1859 and 1854, for the sum of 1850 each,
free on board canal boat at Richmond Ano-
ther engine of different construction was pns-
chased of Mr.. Anderson for 1880. pas
senger engine has been ordered from MIR.
Homes Hinkley of Boston, at $4,000, to be
delive-ed during March or Apri! nezt, and a
freight engine from the New Castle hanu-
featuring Company, for 5000. advice Of the
shipment Of which 10 daily expected
The sross receipts OF the road es exhibited by che
ssateulen's Of the Freight Ticket and Debarsins
Agents A..,.- -
Deduet expeLses.................. 66tSi rs
Leavtus 3 nest gain of.............."..ei27S6 Of. 81
The average lengts Of rGsd IL operaSea during the
pact year was IS ulse putting the cost of which at
s .2.2y 20. which ls the proper proportion, leaves
a Fr"dt of S;4i pr cent fne tornage u mate
lal US. ia coustiactcl, estimated at Si oo forms
10 iGrt Of The sbuFs estin1ase.
For future operation the company hiss On
hand the following nneaAs:
Cs-h hand. per -gl4s ceS II
Auoaut due from private Stockholders 90 W
amount due State scoount stock. s6 sto 60
Aruua' due on Ssste .aS7 600 Ut
Amount ri Bonds utnud................4G5t .4G5 10 o.
AEDonut dae by bAs KeoeiVG6Ie. "a 2ez 81
sl,l2es77 II
AMOGut das ~ negotiable
DBls llJ,SsJ 10
A-ornt dns S,IcA ho.drrs.,... Ss3 ca
Amount due ConsrsctGrs...... 1859 80
Ig4, ,s95 7s
Sksvs bsAapce. ESQ ssf aS
Add arnount Gf Stock 10 be
ken By ndivids sa2s.. ..........ST, 800 60
Which win d,aw FROM she
S<aIa......-...,. ........s...f .fNOoa "
rBeoc 90
Make. an assrs gate Of 1924 80
The wants Of the Company to complete and
pot into operation the entire work g,ay be
put down as follows:
Iron up paid for to ist St5k $50 SO
Eneiuet re essinate fer 0radusthos ahd
Masonry. ,ozf 70
Ensjheelis eAiiaiste tor aupersirocLaEe
and Bridges. ..s.I<tseet "
Euriu.& rs es,insle tor .iae10 On
'na do Roiling SgsCk. 3t,ftV %
Si.als, ,4eS Is
They est,n.te the receipts for tbs presens year at
SAf ,ta.
These assets being partly OF such char
se.tr as cannot be made available to meet
promptly it's liabilities. particularly If she