Lynchburg daily Virginian. [volume] (Lynchburg [Va.]) 1852-1861, 1855-11-13
OFFICE VA. g. Tenn. r. II. Co

of the Board of Directors have been unremittlng
ly directed to the protection and promotion OF
your interest in the construction of the road, as
also to an economical operation of the finished
portion thereof.
There have been serious difficulties TO encoun-
term both, but mainly in the construction de-
partment. The enbarrassments attending all
railroad finances have continued TO operate pres =
singly upon this.
These difficulties must be very apparent,
when, in connection with the monetary pressure,
you take into consideration the magnitude of the
operation of constructing a road costing md
worth. when completed six millions of dollars,
with capital of three millions.
Under the most favorable circumstances il
would have been an important and difficult un-
dertaking, but these difficulties have been greatly
increased by the unpropitous period which il
has been, your misfortune to encounter-a period
of reversesand arrangements unexpected and of
indefinite continuance. Could these have been
foreseen by you or your Board, they might have
been provided for, so as TO have somewhat weak
ened their force. You have had, however, to
share a common lot with other public works but
whatever of suffering and of loss aud delay you
may have sustained, the end is not far off, and
though yet in the distance, il can be seen and
that distance is fast diminishing.
Whilst not free from ncumbrnnoes yet the bur
den is greatly ghtened. and you have ex-
tended leverage of completed road TO lessen the
weight, giving you more reliable and more
available basis for the completion of what remains
30 be done.
RESOLUTIONS or STOCKHOLDERS.
In reference to the resolutions passed at your
last meeting, with regard to salaries of officers
passenger fare, &c, the Board of Directors, in
accordance with the plan heretofore adopted by
them, proceeded at their FIRST meeting after your
IN nj IN ha apnual M INF mi nf such
officers az It'll their province TO appont,and anvil
ed themselves of that opportunity to carry out
your wishes in all connected with the operation
and general management of the Company, re-
viewing their salaries and making such modtoa-
tons sound policy dictated; and during the
year at any time the requirements of the Compa-
ny admitted Of the reduction of officers and en-
ployees it has been done.
The Engineer Corps has been reduced during
the year from time to time as the work
diminished and at tho close of the fiscal
year, the Chief Engineer, Col. G. +. NJ. Garnett,
resigned, and as there is no longer any neoetsi-
ty for such an office, it will be abolished.
BY reference to the annexed list of officers and
employees, and comparingit with that of the pre-
cedng year, it will be found that the aggregate
of salaries and labor is less than il was the pre-
vious year, notwithstanding the increased length
of road, of over fifty per cent, and tho greatly
Der Of depot agents, section masters and labror-
ers.
The reduction has been in the Engineer Corps
the Train service, and Machine and other shops,
as also in the price of labor
The Engineer Corps now consists of only two:
Capt. Jas. II. Buford, in charge of bridge super
structure and track laying, and Mr. w. w. Black
ford, in charge of the other unfinished work on
the main stem and the Salt Works branch, at an
l.. 4 staD
ductionfor the year of ~ 800.
The passenger fare, under your instruction,
was raised to four cents per mile, which has ope.
rated very satisfactorily TO the Board. and, it is
believed. met with the cordial sanction of the
travelling public.
The tariff of freight has also been revised, but
will require further notifications II is a com
picated subject, and time and experience are
necessary to u proper. adjustment of rate
of charges applicable to the various articles,
with the true interest of the Company and equit-
able to the patrons of the road.
THE OPERATIONS OF THE FINISHED PORTIONS OF
THE ROAD.
From the Report of the General Superintend-
ent, Mr.. f. H. Gill; and the annexed tables, com
piled by the various officers you will find the OPP
erations to have been very satisfactory
The gross receipts from all sources
were ACKNOWLEDGEMENTS. 255,920 25
From which deduct expenses 1o9, $50 IS
Showing nett gain. ..-..... Sl26329 10
The average length of Road operated was 100
miles, and putting cost at S3,25o,oO0, which is
the average, cost of $4,000 per mile assumed
last year, gives nett gain Of four per cent.
within small fraction;) and if we put the cost
at S6,OO0,OOO. this brings the average cost of
that portion in operation to So, $685. 2S 80, you
then have a nett gain of 3.301 per cent. This
estimate is exclusive of all transportation of ma.
terial DC. for construction, which would be
about $39, 800, had regular rates been charged.
The tonnage for which pay was received was
2S,S363 TONS equal to 22la tons per mile of
Road.
The nnmber of passengers were 6l,O03, equal
to 1921 passengers per mile of Road.
The recepts,for each mile of Road
Were 81 9OS O2
The receipts from all sources per mile run
we're:
From passengers per mile run------ Sly 33
Freight . 1877 81
Mail service . 90 IL
Express OF 81
making average from all sources of $I57
per mile run. and the expenses were 70 cents,
shelving a nett gain of 70 cents per mile run.
The expenses for repairs and operating the
read were 1896 65 per mile Of road
The average yield of each passenger was SI.5ls
. for freigh --.-. $50
The number of miles travelled by pas
sengers or the number of passen-
gers carried one mile ... 1857, 900
The total movement of freight,or num-
Der of tons carried one mile. 2,l25, 1874
The average rate of passengers for all class
es3.69 cents per mile, and tonnage of all kinds
7.05 cents per ton per mile.
The average number of miles travelled by each
passenger over All miles, and each ton of
freight was moved an average distance of73
72-1O0 miles.
comparison of The operationsof the last year
with the previous one makes the following ex-
hibit: