Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1854-01-11
RAILROAD MATTERS

East TENNESSEE AND GEORGIA RAILRoAp.-The
Stockholders of the East Tennessee and Georgia
Railroad held their annual meeting at this place
Monday last. Nearly all the Stock in the Compa-
ny was represented, and much interest was mani
tested by those present in the proceedings of the
Convention. The report of the President which
we publish at length in our paper of to day, is a
document full of interest, repete with valuable sta
tisticai information, and reflects much credit upon
the new executive of the Company. The earn
ines of the Company for the past year are nearly
one hundred thousand dollars, the expenses between
forty and fifty thousand dollars, leaving profits to
the Company of over fifty thousand dollars, or
about three and one half per cent. on the entire
cost Of the road from Dalton to Loudon.
By resolution of the Stockholders, under the
recommendation Of the President, semi annual div
idends will hereafter be declared. This is an i'm
portant movement and we congratulate the Stock
holders upon the near approach of profits upon cap
ital so long invested. corresponding Increase Of
business for the next year will enable the Compa-
ny to declare dividend of six per cent, upon the
cost of the road. The amount expended in the
construction of the road from Dalton to Knoxville
is, in round numbers, 81, 100000. Should the earn
ings of the ensuing year reach Sl50,000-snd we
presume all will say that this is safe calculation
then deduct 40 per cent for expenses, &c, and we
have 800, 900 profits, which is sir per cent on the
cost of the road.
We are gratlfed to see froI, he Presidents re-
port that the road beyond Loudon is in such for
ward state Of construction-and that the eastern
connections will certainly be made without delay.
These connections, as we have SO often repeated,
will make the stock of the road amongst the most
profitable in the Union.
Many other subjects of interest are discussed in
the Presidents report, to which we refer our read
ers. We also direct especial attention to the Pre-
amble and Resolutions adopted by the Stockhold-
H. L.
meet the hearty concurrence Of the public gene
raliy-Ahens Post.
/. NASHVILLE AND CHATTANOOGA RAILRoAD.-From
Information we have received, by the time
this article greets the eye of the reader, this rail-
road will be complete, and perfect connection
formed between Chattanooga and Nashville. AL
though the completion of the road has been re-
tarded in consequence of the numerous heavy slides
and other unexpected Obstacles that have been pre-
senting themselves, for SONS months past between
this place and the Tennessee river, costing the COM
pany no inconslderable amount of money outside Of
original estimates, and resulting in delay OF final
completion OF the road some months longer than
was anticipated by its friends year ago, STILL by the
continued perseverance of its officers the difficulties
have heen overcome, and in day or two we shall
have the pleasure Of heralding to the country
perfect railroad connection Of the capital of our
State with the Atlantic seaboard, Charleston, Sa-
vannah, DC.
This will be the commencement of new epoch
in the developing Of the capabilities Of Tennessee,
and for aordng new facilities for Transporting our
domestic products to the seacost as also for the
ception of goods and merchandise by our merchants
well as those in the interior, both from the At
lantc markets and Nashville To say that much
credit is due the principal officers having charge of
construction of this enterprise is but repeat what
has already often been said: it is sufficient for
purpose to say that under all the circumstances,
the work was commenced and has been urged
through to completion at as early day as could
have been anticipated by practical men acquainted
with the amount of labor necessary to build rail-
load over such region of country. This road may
now be considered practical fact and a matter of
history. There can be no more speeulatons as to
its ever being inished-no more doubts nor mis-
givings.
Owing to the depressed state of the financial con-
dition OF the country, we understand this company
have been unable to dispose Of their bonds
favorable terms as the state and condition Of the
road ought to warrant, and that they applying
to the Legislature for the endorsement of the State
to enable them to present par-securltles ii the
money markets. We can see no reason why the
endorsement should not be obtained; nor indeed
why it should meet with opposition from any quar-
ter. With finished line OF one hundred and ffty-
t1co miles of railroad at a cost of three and half
HlulOuS, Lndt ILlS TOau now
does, and is destined to make; with no lien or mort
gage it. that held by the State, and for sum
less than fourth of the amount of the total cost
of the road all these things considered, we should
rather deem it matter of pride and desire to ex-
tend such encouragement as the company might
ask, rather than discourage it by opposition. With
prudent and skilltu management by the officers of
the road-whIch, by the way, is a consideration of
paramount Importance in the successful operation
of any railroad, however favorable its location and
other advantages and without which it
succeed-there ought to be no doubt as to the
ability of the company to pay all their obligations
promptly from the proceeds of their business with
out mourning risk or hazard on the part of their
most prominent friends.
Our remarks are voluntary; we have no favors to
ask of the company-no ends to accomplish we
and appreciate the enterprise before US and the
benefits that must result to the country, as well as
the loss and injury the company must sustain, un-
less they receive the aid and encouragement of the
State: and viewing the matter in all its bearings,
we must think their claim is one that demands
favorable consideration from our Legislature
Chattanooga Advertiser.