The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1855-01-05
EAST TENNESSEE AND GEORGIA
RAILROAD

place, on Monday last. There was a full rep
resentation of the stock, and more than or
binary interest was manifested by those in
attendance in regard to the condition, affair:
and management Of the Company. BY ref
erence 10 the clear and comprehensive report
of the President, which we publish in full to-
day, it will be seen that the operations of the
Road for the fiscal year ending the 3Oth oil
November, are of a very satisfactory charac.
ter. The report of the Superintendent Of
Transportation shows the gross earnings OF
the Road for the year, to be Sl25,O2s,37
and the working expenses and maintenance
of way notwithstanding the nett profits
S79,3ol,74-thus showing an increase in the
gross receipts over the former year of S3l,.
093,24, while the excess of expenses 10 only
S3,404, 72-evidcncing the very gratifying
fact that the relative cost of transportation
and maintenance Of way has been reduced
from As to 36t per cent, figures much lower
than have been attained on any other road
within our knowledge in the Union. These
results, too, have been accomplished through a
season of short crops, sickness, depression,
and other circumstances operating largely to
the disadvantage of the workings and bust.
ness of the Road.
In addition to the regular duties devolvng
upon the President of the Company, the d.
iectory, in compliance with resolution
adopted by the Stockholders Mt their annual
meeting, JAM. 1854, instructed that officer to
make arrangements for securing TO this Com
pany the control of, and for the building of
the Cleveland and Chattanooga Railroad, and
we were gratifed to learn, from the papers
submitted to the Convention with the Presi.
dents report, that the duty thus imposed had
been successfully discharged, and a contract
entered into with John ID. Gray g. Co., Of
Georgia-well known for their skill and
abilily-to build that arm so essential to the
ultimate success and prosperity of the East
Tennessee and Georgia Company. While
the exhibit of the working operations of the
Road furnishes the best evidence that they
have been managed with degree of pru-
dence, skill and business capacity highly Gre
ditabc to its officers, VIC cannot withhold
our commentator from Maj. Wallace, the
President of the Company, for the satisfac-
tory and successful manner in which he dis
charged the duty devolvcd upon him in rela-
ton to the Cleveland and Chattanooga road.
Arrangements have been perfected for the
amalgamation of the charter of the Chatta-
nooga, Harrison, Georgetown, and Charleston
Company, with the East Tennessee and Ga.
Company, and n contract made and confirm.
ed with responsible parties for the construc.
ton and completion, at the proper tme of
the indispensable enterprise. The control,
identity and management of this important
lnR--a link necessary to complete the line
connecting the North and East and South
West, has thus b9en secured to tho East
Tennessee and Georgia Company result
which precludcs forever the building of
rival route, and ensures to our Road the n-
menso stream of travel between tho two
great sections of the Union, We might en-.
large here upon the advantages thus obtained
to the Stockholders by the timely and wise
policy they indicated in this connection, and
so skillfully carried out by the President Of
the Company, but it is unnecessary least
for the present, rs we shall take occasion to
refer to the subject again.
The report of the Engineer, (Which we
cannot publish today,) exhibits the crafty
ing facts that the grading and masonry on
the work North of the Tennessee is nearly
all finishcd-that the track-laying has COM
that the masonry of the bridge Is
and all but one span of the wood
work is up, and that will be put on in short
time; that the structure will be ready for the
passage of trims by the first of February,and
that in few months-say by the LIST June
the road will DO finished and working 10
Knoxville. We may be allowed to say on
this OCCASION that the Engineer Department
of the Road has been ably managed, and
that much credit is due to Col. Prichard, and
his assistant, MIR. Williams, for tho skillful
manner in which their arduous and RESPONSE
bic labors have been discharged.
In conclusion, the stockholders and friends
of the enterprise generally, have much reason
to be gratifed at the results already attained,
as well as the rapid approach of that pros
perity of the Company which must imme-
dately follow the completion of the line,
and make the stock among the very best in
the Union.
As the Secretaries Of the Convention were
not instructed to have tho proceedings pub.
lishcd, il IS proper we should state that FIVE
hundred copies Of the reports of the Prcsi-
dent, Secretary and Treasurer, and Engineer
were ordered 10 be printed in pamphlet FORM
A resolution was adopted ratifying the act
of the Legislature of the State changing the
annual meeting of the Stockholders from the
LIST Monday of January in each year, to the
LIST Wednesday in September of each year.
A resolution was also adopted, directing
the President to have published with his an
nual report, a list of the stockholders of the
Company, their residences, and the number
of shares owned by each.
A committee was appointed to which was