Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1854-11-13
FIFTH ANNUAL REPORT oF TIE PRESIDENT AM
DIRECTORS TO THE SOUTH SIDE RAILROAD
COMPANY

COMPANY
Thc ahove document has been laid upon table and
We have read with much interest AMI sati-arti n
II presents IN clear aud plain the operations on
'e i"ad Tor the last twelve months, its present condition
ana prospects, with statements OF the expenditures,
eep's' Indebtedness ", iorning altogether complete
exhibit Of the alirs OF the Company Ia, fr.t imnot
t,nt item in the Report the Prcsent is the very rr,
tying one OF tho completion of the Rai To I.vnchnurc
its Western terminus The run through fron
that cy to Petersburg. Thus has becu consuu,mlted
wok which is drsncd believe u do NOR. Tor ia, solid
aud permanent promotion OF the prosperity of virginia
than any other work within her borders And this nr.,t
enterprise has been successfully carried through in the
comparatively sh"', period OF va years IRON the iir-
movement under the Chatter. Ia October 1879 the first
pTeli inat! survey WAS begun. la Mach 1850 the first
spade iu OF Earth thrown up the n oil Nh
Scm0er, 1854 the Road open vel aud transports,
t'"n it"n ed tn cj. IL il l23 miles long AMI has been
biit Tor Se",Ovb per mile, which, COZ s.irrnr ,he y,s
bcne!i's which it is To dspnc may well b. deemed -
mo Ieratc cost. Such Road richly worth 81 "a, uuu
to the state There il no calculating v,ue wher We
ahe i"'o the estimate Ills connection with the several
Rods now under construction from Lynchburg Westward.
y 10 Memphis The whole trade of the vast and Cr,,,
region which stretches from the Southern spurs OF the
Blue Ridge Mountains in Virginia tho banks of the
Mississippi will How directly through IT, aud Il III serve
annually Ia swell the exports aud imports of the
F"is IL tut BIRDS eyevicw Of the masnfi develop
mcnts that are TO expand aui multiply thrrsrlyc along
the whole line from Petersburg 10 Memphis.
In noticing the Report trforc cannot but inward
tie highest credit TO the officers of the Company aud the
various Contractors by whose energy and activity the Road
hes been so steadily aud vigorously pushed forward il,
complexion All have faithfully gcd their ..spec-
tive duties aud entitled TO the waTnest thank, OF the
stockholders Amidst and pected eubarrass
ncnts % which they have been subjected toy tho
cy OF the money market for the last twelve months the
work has been eHectuly prosecuted at comparatively
light sacrices-or although in order raise the neces
ry und the bonds Of tho Company endorsed by tue city,
md to be soil below par the loss has mate.
rial IL u, IN fact nothing in comptIi.on with what has
been gained b. the completion Of the Road.
We learn from the Report that the gross receipts for the
last year were sos 96637 and that the running expenses
were :62,39d5. leaving nett profit OF :iG,57i.a2
being Increase OF s2O37$l7 upon the previous
Tho aggregate receipts Of tho ennug year are not un
reasonably estimated at $500 CO. which, alter pa wing all
EXPENSE will be equal 20 per cent. upon ~ 900 OCU
The City Point bFanch which pu'c4sed by tho Com.
piny last Nsyh has yielded for the y. months ending Sep.
tenhcr "vth tie nett sum Of i6,5Gi3i which
considerably more than pays the Interest upon the pur
chase money.
"a the WHOLE this Report il repe,c with the most flat
tcfing statement aud encourages the most aangnino
and cnriicnt expectations. Unless some new legislative
folly shall he enacted TO its prejudice tho hopes of i,s
friends will bc more than fulfilled and the fortunes the
Sac rroGiGiously improved under it, nilucDccsI,
burg Int