The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1855-06-04
Twenty sRCogD ANNUAL Report OF

1
RuRG AND PoTomAc RAILROAD COMPANY The
Preside mt and Directors herewith ubmit the Stock
holders, the usual tabular statements exhibiting the
or@sent condition of the Company and the business
OF he road for the year, ending the 5ist Of March
| last.
will be from them fhst The revenue of the
road for the past year 1892 l72 IA that he ex
psnsas of transportation for the period were
GIL $50 81 and tb pa ynents for interest s26 SIG az
Deducting these items Fl the recspts of the year
| leaves balance of s95 693 II. This balance was
reduced by the allowance of SIT 9S7 So to the Wash.
| n gton and FTedeTicksburg Steamboat Company on
secount of losses sustained by them in carving out
| the double daily mail schedule between the LIST of
ment Of 81 24 II for surveys Of the route for rail-
| road to the railroad of this Com pany with
the Orange and Alexandria or Manassas Jap railroad
made by order of the Stockholders at their last an
| nual meeting. The nett balance remsjning after
deductng these items (s73 465 So would have zen
than rufcient to pay the usual dividends of
Ist of November last and the LIST inst to the Stock
holders but for the failure egotiate the loan au
thorized at he last uual Getting to connne the
edge rail supsrstructure. Tn made il ecsssary az
the Stockholders have been adv sed to make use of
| the nett income of the Company for the purpose
and to pay the dividends to the Stockholders in GER
htcates OF the lsan au horned, instead of paying
| them IN money.
| The prac .ical Inconvenience OF paying the divi-
dends to the Stockholders, during the past year In
certificates of debt, and applying the nett proceeds
of the roed to laying down the edge rail has been so
slight that the Board OF Directors trust that it will
be agreeable to the Stockholders to allow them to
prosecute the edge rail superstructure on the same
plan until it may be practicable (which at nrsasrt
it is not) to make loan at par for the purposa To
those OF the Stockholders W no find it convenient o
retain their dividssd certificates they present the
advantage of being perfectly safe and reliable in
| vestment and, at the same time (being exemrt by
the charter of the company from ali taxstiopI If
yielding larger nett revenue than any other invest
| Iusnt bearing the same nominal interest Tha same
considerations make th sm readily convertibIs into
money, at comparative y small discount, by those
| stockhoders VINO may have occasion to dispose Of
| them.
The Board of Directors submit. as portion Of tbj,
report the repert o. Alexander Worral Civil Enei.
and n
ments, on the surveys made for railroad connection
between me railroads OF this company and the
Orange and Alexandria and Manassas Gap railroads
1t will be seen from the report of Mr. Worral that
the whole distance By railroad, between Fredericks
burg and alexandra, will vary but little by either of
| the hnes " h'ca have been examined, whilst each
has some recommendation ia its favor, which are
wanting to the other !tseems uader these cireum.
stances, 10 the Board OF Directors that will be the
policy of this company TO do what it can conveniep
y in aid of the line loch may be first undertaken
| In the event OF q company being lucoruorstsd to
make rsilroad to connect the railroad of this ron
Pany with that of the ORANGE and Alexandria Com
pany in the neighborhood Of the Warrenton Junc.
ton, by making subscription to it not exceeding
one-thrd OF the amount which may be subscribed
by other parties, or fourth of aggregate cap
ital stock which may be subscribed towards It .
and In the event OF an extension of the Manassas
Gap railroad to point on the Potomac River at or
near the mouth OF QIantino, by extending the rail
road of this company, or a branch OF the same to
connect with 1t. If 1t Should be the pleasure of the
| Stockholders to concur in these views an expires
son OF opinion to that effect may ba valuable In in
ducng other corporations and individuals intersst.
I'd to conn sir efforts in forwarding the one or
the other i'm provement
Surveys have also been rnada during the past YEAR
but without the cooperation of this Company for
| direct railroad between Asqua Greek and Baltimore
The Board learn in general terms that the result OF
these surveys Is highly favorable, and that the dis
lance between point on the Potomac River oppo.
site the mouth of Acquia Greek and Baltimore would
be only about o. miles Such lire of railroad il
executed would greatly expedite the travel between
| Richmond and Petersburg land the towns South of
them) and the Northern cities and would be of erear
| Richmond andE h-sida
Railroads, and it 10 strongly pressed the Board of
Directors OF this Company, deserving its coune-
and assistance The relations of this Company
| with the Warrington and Baltimore Railroad are
however, at present most friendly; and they should
| continue to be so, and the Baltimore and Washing.
ton railroad be extended, as the Board trusts it will
BE- at early date to the Potomac River or near
| Washington, so as to avoid the present omnibus
| ausportati0n in that city, there will be- in the
| opinion OF the Board of Directors no adequate rea.
son for this Company seeking any other avenue for
its travel to and from the Northern cties than the
one it at present enjoys via Wsshington The Board
of Directors trust, however, that the Directors of
the Baltimore and Ohio Railroad, viii Aee that both
sound policy, and their duty to the public and the
| Companies South of them require prompt extern
sion OF their Branch to with the
| Potomac Steamboat line.
| The President and Directors, submit herewith
| commu uicaton, marked A, received By them on the
10Th inst, from the Board of Public Works In fela-
ton to the proposals lately invited by the Post Office
| Department fer the transportation of the United
| States mail between Washington ard Richmond -
| TIE Board Of Directors had previous to ifs receipt
learn ed in various ways, that the other Companies
| referred te in the communication of the Board of
Pubiia Works, designed competing for the mail but
| determined, Notwithstanding, 10 offer TO trans
port it at less rate than the rate paid them
| The price now received BY this Compsnv and the
| Pocomsc Steamboat Company, (SS06 per mile tr
S39 roo per aunum,) IyaS roIuHtdry rendered by the
Department in January 1882 for tl1ce daily scrUice
betigeen Washington and Richmond and is but 20 per
cent. in advance of what was previously paid them
for single daily service and is only what author
| zed by Congress many years since when the mails
scarcely third their present weight, and the
| expenses Of TRANSPORTATION railroads much less
Ii is the opinion of the Board, as low price as the
| pondsrous mali now traniported hstweeu Richmond
aed Arlington can be conveyed at by them, md
4 contract at this price must, the opinion OF the
| Board be anything but profitable tbs Companies
| which it is understood are competing for it.
| II is under these circumstances highly gratifying
the Directors, to find that their s not al.
| lowing themselves to be drawn / t. competition
| with the Virginia Central and Orange and Alexsn
| dria Companies for the mail meets the appreciation
of the Board of Public Works and a. the course Of
the Companies referred to, is dsapproged of by the
Board of Public Works, il ia hoped that means mag
| yet be devised BY them TO arrest proceeding
WHICH in the lars uage of the ard OF Public WORKS
',iU result in injury alike to the interests Of the State
| and all the Companies interested
| Respectfully submitted bsaalf and by order Of
| the Board of Directors
INC D'''N ED. ROBINSON, President
| OFFICE RICH'D. FRED G \ P r. Coz
Richmond, May SOrh, 1856.
At meeting Of the Board of Public Works, held
the h day of May, 1885, the following order was
The Board Of Public Works having understood that
| bids have been made by the Virginia Central, the
| Orange and Aexandria, and the Richmond, FredeT-
cksburg Potomac Railroad Companies, for trans
porting the m2i between this city and Washington,
below the price they would be justified in receiving
do hereby:
| Re.olpe That the Secretary of thi. Board be d.
rscted TO inform the residents of the said Comps
MES that this Beard disspptovss of such proceed
ing believing that it will result in injury alike to the
interests of the State and ali the companies interest
eds and that he further inform said Presidents ofths
opinion of this Board, that there should be no rival
| nv between said Companies tor said mail service.
true copy from the minutes
w. r. DRiNKARD,
Secretary Board of Public Works.
To the President of the Richmond, Frede rieksbnTg
| and Potomac Railroad Company Richmond
| je4-lt
VIZ invite attention to the sales this af