Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1854-11-11
So1tth-niae Rallrnad

The Petersburg lntelligepcer OF the 9th nc
knowledges the receipt of the fifth annual report
of the President and Directors of the South side
Railroad Company After stating that 1t pre-
-ents in clear and plain manner the operations
on the Road for the last twelve months. lis pres
ent condition aud prospects, with statements OF
the expenditures, receipts, Indebtedness. DC,
forming altogether complete exhibit of the al
fairs of the Company, the Intclligencer goes on
to speak thus cncouragngy of the Road and its
prospects:
Thus has been consurnmatcd a work which
is destined, we believe to do more for the solid
and permanent promotion of the prosperity of
Virginia than any other work within her borders
Aud this great enterprise has been successfully
carried through i'll the comparatively short pc
Rod of five years from the first movement under
the Charter. In October, Isl9, the frat prem
mary survey wns begun. In March, 1850, the
first spade full of earth was thrown up, and on
the 9Th Of November, 1851, the Road is open for
travel and transportation from end to end. 1t is
1913 miles long nnd has been built fur S23,O0O per
mile, which. considering the vast benefits winch
Il Is to dispense, may well he deemed moderate
cost. Such road Is richly worth -, ODO, 100 to
the state. There is no calculating lis vallc
when take into the estimate It's connection
with the several Roads now under construction
from Lynchburg westwardly to Memphis The
whole trade of the vast and fertile region which
stretches from the Southern spurs of the Blue
Ridge Mountains in Virginia 10 the banks of the
Mississippi, will flow directly through it, and it
will serve annually to swell the exports and i'm
ports Of the State. This is but II bird eve view
of the magnificent developments that are to ex-
pand and multiply themselves along the whole
line from Petersburg to Memphis.
In noticing the Report before MS we cannot
but award the highest credit to the officers Of the
Company and the various contractors, by whose
energy and activity the Ruad has been 81 STEADILY
and vigorously pushed forwar to its completion
All have faithfully discharged their respective
duties, and ARE entitled to the warmcst thanks of
the stockholders. Amidst severe and uncxpect-
ed embarrassments Ia which they have been sub
Icctcd by tho strlngency Of the money market
for the last twelve months, the work has been
cheotually prosecuted at comparatively light
sucrliiccs-tor, although, in order to raise the
necessary fund, the bonds of the Company, en-
dorscd by the city, had to he sold below pur, vet
nothing i'll comparison with what hus been gained
by the completion of the Road,
We lcnrn from the Report That the gross re
ccipts for the last year were S95,9ti637, and
that the running expenses were S52Dl IS, leay-
ing "A nett profit Of Si657i 81, being an increase
OF s2O,T3l7 upon the previous year. The ag-
gregate receipts of the ensuing year are not nm
reasonably estimated at S,l6u,01O, which, after
paying all EXPENSES, will be equal to Il per cent.
upon S}0OD, 90. The Civ Point branch, which
was purchased by the Company last May, has
yielded for the fire months, ending September
Both, the NETT sum of S6,56l.3l, II rate nj which
II considerably more than pays the interest upon
the purchase money.
On the whole, this Report is replcto with the
most iiatterlng statements, and encourages the
most sanguinc and confident expectations Tn
less some new legislative folly shall be enacted
To Is prejudice, the hopes of its friends will be
none than fulfilled, und the fortunes of the State
prodlgiousy improved under its Influences"