The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1854-01-06
REPORTOF THE PRESIDENT OF THE
RAILROAD COMPANY.
OFFICE L. II. g. G. RAILROAD, }
Athens, January Cd, 1854.

and Georgia Railroad Company.
The President and Directors do most re
specially report, that the Workings o! thei
road from Dalton to l.oudnn for the year
has been marked by no unusual occurrence
no life has been lost, no limb broken, nor any
accident of serious character TRANSFERRED
except that of the injury sustained by Mr.
VIM. Il. Blackwell, who, it gives us pleasure
to state, is now c0nvalcscent.
The marked improvement in the agricul.
tural interests Of tho country through which
the road passes, is pprceplible to the mos!
casual observer, whilst in the transportation
OF its varied and increased products the Com
pany hive ample ASSURANCE that The time il
not distant when Il compromising 'clnuncra.
ton will be forthcoming for their efforts and
outlaws in building the road.
| With the last OF September your former
worthy and efficient President, Thos. II. Cal
laway, impeIled by private interests so press
ing rs to deny him the pleasure of serving
you longer, rendered his resignation, which
vas with much regret and reluctance accept.
cd--at the same time yoIr present * 'rntivc
officer was elected for the uncXprcd term
and entered at once upon the discharge OF
the duties Of hi, office.
There were pressing on the best interests
Of the Company some highly important mat
tiers, demanding immediate attention. The
difficulties with the contractors for building
the Bridge ut loudon-:ln embarrassing and
annoying iloatng dcOt--tlc necessity OF an
immediate purchase of iron rails for the e.
tension of the road and the hardness OF the
grading north Of the Tennessee river, grow
ing out Of the very slow payments BY stock
holders in Knox county and observation-disclosures
necessities and difficulties combined, were de-
pressing the credit Of the Company-detcri-
oralng the value Of the Stock-rrnbarrassing
the officers in prosecuting the road to com
plction, and very materially crPpi ng their
efforts to successfully and profitabIy work
that part Of the road already completed.
Settlement has been made with the origi.
nal bridge contrHctnrs--ncw ones have been
placed on and are prosecuting the work with
vgor-thc iron has been purcllased--thc
debt due the Company from the State under
the law of so has been collccted-thc float
ng debt has been paid in part and the resi-
due is in rapM course of liquidatlon-ihe
unIct work north Of the river has been put
under contract--thc working force largely
Increased and We hore the delinquent Stock
holders have beer, to some extent, siimua-
ted to a better effort to meet the calls Of the
Company.
The President believing the performance
Of these duties paramount to all others, and
having diligently devoted himself TO their
speedy accomplishment. trusts the Stockho'd-
ers will not hold him responsible for not hay
,,,. y,,ll i,,I, Il "a ~.
mlnu,ia and minor affairs Of the Company.
more especially when it is remembered that
their worthy Secretary has been looking NJ
ter the operations of that portion Of the road
already completed, with that Industry and
sagacity 50 characteristic Of himself, whilst
the efficient Chief Engineer has been active
and diIigent in watching over tha. part now
in process Of construction.
20 the accompanying reports fthcsc two
officers You are referred for details and parti-
cuars in their respective departments.
From that of r. {. Jackson, Esq, your in
defatigabIc Secrctar; and Treasurer herewith
submitted, you will learn that the gross earn
ngs of the road for the year ending with
November amounts to S93915 Is, and that
the expenses Of working the same and main,
tI,h'icc "i way - Vh''E ~ @i-'o'o "''
leaving the sum OF S3i,io5 IllDllSI.I!IS;--
l"" w lnrth'r learn rom "
tie cost OF the o. miles Oh MN
tins money mas been earned III ro"n NUM-
bcrs is 81 100000. We have then TO pre-
sent Won with the fact that this road in its
unfinished state IN with all the other dl-ad-
yanlagrs under hirh its officers have been
compelled to work it, has yielded the hand
some income o. - recent on '''c '"s' OF
construction. 70 better evidence can pr
aduucrd ol Inc correctness OF me P"H't'oi''
mat Wlrn completed I" hN"N'l''c ana us
Eastern connection Is reritrtra' u must he
one OF The best paying roads "a me oh'"n'
ana we confidently prcu'cl t'lat us uN!u'huS
Will range WIN the highest ANA It's stock Will
eqnal IN value inc most popular. Ley no one
men feel INA, IN 'ah'h9 STOCK III 'he E's.
tennessee ana "eorS" ltnllr"ad, he mas D"'
donated ms money Tor Il ialdaole purpose
but that IN return he holds Il property tahgl'
bic and valuable, yielding him more than his
outlay, il he sells, and giving him II large in
trrcst in annual dividends if he retains it,
The relative cost of TRANSFORMATION and main.
tainance of way to the gross earnings of
finished Railroads in the United States, va.
rics from 40 to 60 per cent. On ours the first
year it WAS 60 per cent, this year it is ID
This does not happen from any change OF
policy, but is the result of the prrfccting of
our road, and with its light grades and easy
cur,a.urc,, lis currcnt expenses when finished
to Knoxville, will not exceed 40 per cent. of
the gross earnings. Say, then, the rross re-
GENTS reach $3.50, 900; expenses at 40 pri cent
SlOO,OOO-baancc $4,000 nett profits. Il
su,u canal In soyrn ncr cent on tho rptirc
cost OF, construction from Dalton to Knox.
willie. These figures are submitted in rood