The Camden weekly journal. [volume] (Camden, South-Carolina) 1853-1861, 1855-08-07
H!iarrllaueulsa Nrm5.
seventh Annual. Meeting


From the report Of the proceedings furnished
US kindly by friend, we make the following ao
Stract;
The seyen.h Annual Meeting Of the Stock.
holders Of the Washington: aud New Orleans
Telegraph Company was held at the Office OF the
President, in the City Of Washington, on the
4th and 5th days of July, 1855.
The President submitted his Report which WAS
read:
GES1LEaES:
It becomes my duty to lay before you an &C,
count of the operations Of your Line ct Telegraph
during the past year and represent to you Its
condition and prospects.
The year has been a disastrous one. During
most ofthe summer and fall of s54 the yeilowte-
yer prevailed at every considerable station on the
line south Of Richmond, not only curtal!ing Our
business, but depriying us Of the services Of some
Of our best operators. While some fled in ter
rcr, others herocally remained at their posts,
hazarling health aud life to serve the Company
and their fellow.ctizens; and we have to depiore
the death Of T. Carpenter, an excellent operator
aud most worthy man, who had just been
placed at tho head of the Charleston Station
Ills Assistant, 8. II. Bingham, came near shar,
ing the same fate; and to put him at the head
of tho Office with small increase Of salary, was
but poor reward for sefievoiion. Mir. Men
aes, Chief Operator at New Or!:ans, and Others
in that Office and on the line are entitled to sim
liar coulmendation for devotion to their duties
amidst surrounding peTils
Much difficulty and some loss have been
encountered by the unfathfulncss Of few ope-
rators. Pecuniary defaults have occurred at
Wilmington, Columbia, Charleston, and Macon,
amounting in all to about sl,oo3 so, Of which
about $53 IS has been collected, and most of
the residue is hopeless.
Important repairs have been made or Tho
Railroad routes in Georgia and South Carolina,
where the Lines are believed to be in 4 good con-
dition. All necessary repairs were also made On
the Line from Columbia to Raleigh but the ter.
r.ble 6res occurring there subsequently, almost
destroyed It in some localities, and left it ex-
posed to frequent interruption By falling trees.
danger always existing i'll that region, but great
ly increased by the effects Of the confagration.-
The Superintendent was instructed to increase his
force on that scction and spare no expense to keep
it in working order. He repeatedly traverscd it
himself, but with partial SUCCESS. Aftera momen.
tary improvement, it has, from: some myste-
ous cause, reapsed into the same inefficient state.
On ore or more occasions, it has been wilfuy cut,
and circu instances justify suspicionthat its gene
raj ineficiency is the effect Of design or Of gross
negligence on the part Of come Of the Companys
employees. But from the nature Of the country
through which this part Of our Line runs, it will
always be a source of much vcxation and trouble
and efectual relief can only be found in the Line
on the Manchester Railroad.
On the whole, am gratihcd in being able to
present the Line as whole in much better con-
dition thar il was year ago, md needing but
the completion Of tie Manchester Railroad Line
and renewa: of the wire through the swamps near
New Orleans, to be in as good 4 condition for
business as i: e,sr i'll be; until rebuilt with great.
ly increased strength aud an improved insuls-
Many circumstances have ccnspircd to reduce
the receipts Of the Line during last year, among
which are the following viz
The general depression Of commercial business
from which the Telegraph derives its main sup
port;
The yellow fever in the Southern cities last
summer and autumn;
The crippled condition Of the Line generally
at the commencement Of the year.
The improved condition and. working OF the
competing line through the West;
To which must be added, the bad manage
ment, for time, of tue Fourth Section, and the
mysterious difficulties on the Second Section.
The cooperation of all these causes has re.
duced the receipts of the Line s27 6s5 below those
ofthe preceding year.
The causes Of depression, as far rs they were
within the reach ,of:the officers Of tho Company
have ieen removed, with the exception Of the
Line between Raleigh and Columbia, and there
they @'i!l soon be entirely aud forever avoided
iysthe Line on-,be AanchAter Railroad. The
y:her causes of depression have passed, Or are
passing away, except the competition OF tho New
Orleans and Ohio Line, which will probably be-
come more and more efficient.
On the whole, it is believed the business OF the
Line will heuceforth improve as the business Of
the country reviycs, until it exceeds al prcce.
dent.
At the last Annual Meeting, though three
per cent. dividend was declared, there was in
fact no money in the Treasury properly arplca-
bic to its payment.
There were then outstanding debts more than
sufficient to absorb every dollar in the Treasury.
lfresults could have been f2reseen, it would have
been prudent not to have attempted to pay any
portion Of the dividend. But believing that the
earnings Of the year would be sufficient to pay
not only the current expenses, but with the aid
Of the amount in the Treasury, the debts and
dividend, the Treasury deemed it his duty to
pay out the moneys as fast as they accumulated.
Though his policy appeared at the time to be the
bsst for the Company, it produced dissatisfaction