Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1853-12-14
REPORT

t0tOChIl0EL6TSJ
anal Meeting, held at leigh, on Ih~fsady the
10th Of Noeent6er, 1858.
In the month of january last the work OF reaylnS
the track of the Road from RaieISh TO Gaston was
,cofnolcted In the month of June, the Weldon and
Castor connection was so far completed, that with
the consent of the Commissioners having charge OF
it, our trains commenced running to Weldon, where
we connect with the great line of Northern and South
ern travel. Having examined and approved the ac-
counts and vouchers, as presented by the Commis-
soners, the Directors accepted the work at cost Oh
$IT5 eo0 and certificates of Stock in this Company
to that amount have been issued to the SUBSCRIBERS
Our experience thus far iustcs the belief that you
by no means over-rated the Importance OF that ex-
tension when in January, 1852, you declared II 70
be C of vital Importance to our Road
The connection of our Road with the North-Caro,
olina Railroad at Ra'eigh is being pushed forward
by our energetic contractor, and VIII d. cohIl'ete
long before the track is laid down on any poFuoh u
that Road West of Raleigh. For purposes OF gener
al TRANSFORMATIONS it will obviously be useless, uhu
some portion of that great work, west OF us Is com
rleted. but we were induced to construct 1t without
delay in order that the Directors OF that Company
1nioSt if they deemed it advisable commence laying
the track west from Raleigh without waiting for the
completion of their Road from Goidsboro Actua
ted by the motives, we have offered 10 transport
their iron and other supplies our Road at price
which we think will hardly protect US from loss
looking to the advantages to derive from the
early completion of that portion OF the Road 1or our
nuaeratlon =,
From January to October, gravel train, with an
oyerse.r and alb ou 30 hands, employed in ditch
ing In October, the force was reduced, and the
train placed in charge of the oyerseers OF repairs 10
be transferred from to another according to the
requirements of the track. A good road bed cannot
be made without thorough drainage, and Jud lcouS
economy requires that this train shall not be dis
pensed WITH long as water can in any season Stnu
in contact with any part of the Road
The Bridges across Crabtree, NcuSc, Cedar creek
and Tar River have been thoroughly repaired by
sklful bridge builder, and now receiving heavy
coats of Bake's Fire proof Paint. The expenditure
A. hos hanI1 1orr mi
importance demanded. They are now III no respect
inferior to the original structures, and without acc
dent from fire, against which they are carefully
guarded will require no repairs, except occasional
coats of paint, for many years. The bridge across
Roanoke at CASTOR, needs extensive and costly re-
pairs for the most urgent of which timber has been
provided and transported to the spot But the IN
salubrity of the locality in and fall, high wa
ter and moro urgent demands elsewhere for the Ia
Dor at our disposal have prevented us from com
mencing operations it. 1t is regarded as entirely
safe for the passage OF trains
A party of eight laborerS under q competent ma
son, has been employed since january i'll repairing
broken Culverts. Fair progress has been made, but
great deal remains to be done.
During the year, fruitful source of delay, vexa-
ton and loss in transportation las been removed by
the erection of Wood Houses at Raleigh trankiInton
KittriPs Henderson, Warrenton, Litteton and Gas
ton and comfortable houses have been provided Tor
the laborers at various points
Several of the Warehouses arc in dccayed con-
diton, and the pecuniaTy condition OF the
Company shall seem to justify it, beginning tc-
wards replacing them ought to be made by the erec-
ton of fire-proof brick building of adequate dmen-
sions at Henderson. This, however may be more
advantageously postponed, than can suitable ware
houses at CASTOR and Weldon, without which this
Company is, and must continue In important partlc-
uars subject to- the control of other than the Drcc
tors appointed by you besides giving Just ground Of
complaint to the Companies whose warehouses we
IAN Engine house Clubhouse and numerous addi
tons to the Shops and their furniture, OF press
ing Importance, and ought to receive the earliest at
tention compatible with prudent regard to your
other interests.
Our Motive-power is ample for even more business
than we have, and is in excellent condition. Our Sup
ply of Passenger-cars is ins 1icient Two Postotfce
and Baggage-cars ought to be purchased, and those
used converted, in our own shop, into plain but
substantial Passengercafs. Of Freight-cars we have
enough, and our own shop is now turning them out
fast enough to keep pace with the lacrosse of bust
ness. The existing system of intcrchanging them
with two different and rival companies, subjects
to embarrassment and business to occasional de-
Fangement but the abandonment of that system, if
it should be found necessary, would be attended
with no serious Inconvenience to the Company the
community.
The Expenditure for Extraordinary Repairs will
continue to be large during the current year; but
that ought not to excite surprise create discour
agemcnt, when it is borne in mind that for Capital
Stock of 1915, 000 and Funded Debt of 100000,
we have Road and equipment on which has been
expended nearly twoand-ahalf millions OF dollars,
and which could not now be furnished for much less
than double the present Capital Stock.
TreaSurcr'S Statement Al will exhibit to you the
Receipts and Disbursements of the year ending Both
September. Out Of the balance in his hands on that
day, the Directors have appropriated $500 t. a
Sinking Fund and declared Dividend of Three per
cent The profits on the business OF the year have
been 81 per cent, but portion has been expended
on the Road, and it not deemed advisable to
ate debt by issuing Scrip. To have the present
means of the Company, the of 81 1896, 10 due
Stock must be added to the balance of S51, Cpl 81
making $50, 918, 10(BD
The Receipts from transportation have exceeded
the mos sanguine anticipations. Speculations
probable income hereafter could be of no value
and would possess little interest, they would nee
essarily be vague and their realization would depend
on events which we cannot control and of the effect
of which we have yet no experience. Rival lines
may deprive us of expected business from afar Off
No great line oftravel or freight from distance may
ever pour its contributions into your treasury But
so long as you adhere to the policy of building UP
and improving the country through which your Road
Is located that country and will sustain the Road
and make it profitable Whilst we may expect a
large accession to business from western
necdons, 1T is great error to suppose that are
dependent on them for our profits. AS long as you
enable farmers to obtain fertilizers your home bus
mess must be the most important and interesting
because is capable of almost indefinite enlargement
and no rtudt a0or6 can deprive you Of It, We have no
hesitation in expressing the opinion that that business
Will insure to you moderate and constantly ncreas-
ing profits on your investment The great Central
Road, the GAINESVILLE Road and the Road from Raj
egh to the Coal Mines IF sufficient coal should be
= developed to justify the building of such Road l
will only add to the profits of an already paving
Road. Q
During the last three months of the year, We de-