The independent press. (Abbeville C.H., S.C.) 1853-1860, 1854-08-05
MIsOELI.ANY.
Report Of the: PreSldsnt and Uir... y. ~
the arsenvillssR Railroad Company.

eoIuxsIA, July 10. 1854
10 The Sfockholders Of t8e GreenviHc aud Co
IN tumdia Railroad Company:
II u with sincere pleasure that we announce
to you officially that our road is finished. On
the 9Th OF December last the ears were run
over the road to Greenville, the upper termi.
nus. Since that time with the exception of a
fswsdays' interruption about the first Of Marci,
last, the traius have been run with great safety
and Regularity over the whole line Of the road.
y The reports of theS General Superintendent.
and Auditor and Treasurer. herewith submit.
ted, will furnish youswith, full and minute de.
tails OF the operation. Through the past year,
company: We will. however, cali your atten.
ton specially TO some of the most important OF
these matters, and invite the action Of the scs,ck
holders upon some subjects that seem to involve
the permanent iuterestssof the company.
The expenditures of the year. now just closed,
nave been larger than was expected at your
last meeting. Soon aft we entered upon the
year'it VS. dicovered that We did not have
iron enough to finish the road. As our peces.
sites would not admit of del,y, consequent mn.
on an order and importation of iron from
abroad, We had to make a purchase of Ameri.
can iron at small increase of price over the
English article. The iron was procured as soon
as was practicable, and the work urged on to
completion. This purchase Of iron amounted
to about seventy thousand dollars.
In view of the important position which our
road is destined to occupy in connection with
other similar enterprises of our day, and the
high hopes and expectations of its friends, your
recommendation upon this shbiest at the last
annual meeting has been addptaE The officer.
having the immediate charge of' the operot;ons
OF the road have made a "close and skilful
reconnaissance along the whole line of tho road, /"
and have kept up constant and viglant in.
ssPection OF the machinery aud rolling stock of
the companys5snd have made such repairs, i'm.
provements and additions as were thought nee.
easary to sustain thu character Of the road,
both as to safety and regularity. Nearly the
whole trssk from Columbia to Newherry has
been recoestrneted. new tinbers pnt in, iron re-
placed eulvefts built, chasms filed and other
Tepairs made. Four new engines, throa new
passenger cars, three mail cara ten plat orm,
twelve dirt and thirty pushing cars. have been
added to our stock; the whole at coat Of about
one hundred thousand dollars. WeS fiatter
ourselves thnL this expenditure of labor and
money has not been fruitlesA Safety and reg
uarity in running the. trains have been attain
ed that have surpassed our most sanguine OK
pectations. In the regularity of arrivals and
departure and success in running The trains
webeiieve that. our roadtswifI eoinpare fayora.
bly, with any coad that can be nnned and as
o1safety, none can surpass it.. About forty
five thousand passengers have been carried
over the rQnd in the last year. and not one has
been injured. Only three %, our freight cars,
in tho same time, have bsen broken - sue.
aessfur result, which compared with ths length
az road nndsamount OF 6nsihoss Idons me- ss.
Hove Is unsurpassed in tho history OF railroads.
The financial condition Of the company IL
not as good rs could be desirsd, but from the
prospect of business, (pronising q handsome
iucome) the ability and Willingness Of the stock.
holders 70 sustain il, as heretofore manifested,
we sec nothing to cause despondency Of doubt
rs to tile final result The scaritnf stock bos
always been inadequate to tho value and ex.
tent Of the work. We now have d road one
hundred aud sixty,four miles long, in good con.
dition,. we'll equipped and In saceesslnl opera.
toI; worth not less than .threo, millions of dol.
lars This has been obtained with means as
follows: ..,;sC ;:--3-5sSS"; -; ~ sE5
Amounted capital stock paid in $l,iss, ,5aa Is
Amonnt of assessment psid IN 139,ss2 90
Whole amount Of capital stock .@ q
and assessment paid in Sf;2eS.464 IS
s Being little more than the third Of the pros.
ent value of the property. AsnillT TpaEtsof the
ineome Of tha road has been ussi as capital,
snd applied;to the seonsts astions ot ths, roed.
.