Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1856-03-21
LOCALNEws.


An adjournment of the Annual Meeting of the
Worcester and Nashua Rail Road Corporation
was holden at Brinley Hall, in this city, yester-
day. At the regular meeting, Committee of
Investigation was appointed. and the choice Of
Directors was postponed till the report of the
Committee should be made, at the adjourned
meeting.
At 10 o'clock. George T. Rice, Esq, the Presi-
dent of the Corporation, took the Chair.
The Committee of Investigation then made
their report, which was read by Mr.. Butterfeld,
the Chairman.
The report is an elaborate and able one, evinc.
ing great thoroughness in the investigation. AS
it is to be published and distributed to the mem
bers, we shall only notice few of its leading
points.
With the general mode of transacting the bust.
ness of the Corporation, and the keeping Of its
accounts. the Committee express themselves we'll
satisfied; and, in this connection, they pay
well deserved tribute to the fidelity and ability
of the Treasurer, T. w. Hammond, Esq, and
also bear testimony to the neatness and accuracy
with which the accounts of the Superintendent
are kept.
No Director has ever received any pay, as such,
for his services. The average attendance Of Di-
rectors, at the monthly meetings Of the Board,
has been 6 10.
The Corporation has all the real estate neces-
sary for the convenient transaction of their bust
ness; and several lots in addition, which have
| quadrupled in value since their purchase, and
now worth 1924 5S3, of which $4,000 worth
might be disposed of without disadvantage tc the
| Company.
The buildings, stationary engine and fixtures,
boiler, and steam pipe,for the Machine Shop cost
1892 &c. The saving in repairing the rails at
the Company's own shop, appears to be 80 l-3 per
cent. The Committee consider the shop not only
convenience, but an absolute want.
The Committee state that the Corporation will
realize proftof $500 on wood lot, purchased
in Lancaster. On other lots, in Boylston, they
will sustain no loss. The Committee would not
recommend the plan Of buying up and working
wood and timber lots, but they see no good reason
| why they should neglect bargain in wood,
whether standing or not During the last year,
it was discovered that person employed TO cart
wood had appropriated portion of it to his own
use. Payment for it was, however, secured, and
measures were adopted to prevent a recurrence of
such thing. The Committee apprehend that
the use of coal on railroads, at no distant day,
will prevent any permanent advance in the price
of fuel.
The Directors have decided upon a moderate
advance in the freight and passenger tariffs
The diminuton of expenses, as a mode of in
creasing dividends, is recommended to the con-
sideration of the Directors. There has been a
strong tendency to increase of salaries, on
Railroads, an abatement of which is one of the
| reforms needed in their management.
The Committee call the attention of the Direc-
tors to the consideration of the advantage of the
dminution of the rate of speed, and a reduction
of the number of trains wherever it is practicable,
especially in the winter.
! Notwithstanding these suggestions, the Com
mittee say that they think the management of
this road would compare favorably with that of
the best known to them.
The road and equipment are in excellent con-
dition. The Company is unencumbered by a
floating debt, and the funded debt is so small and
so situated, as to give no cause for anxiety.
The Report is signed by William Butterfeld,
@eiI11 -1 77-sss'se~44.I cs.~~-.~,
mittee. Appended to it is list of the number of
officers and men, employed in all the various de-
| partments, with the compensation paid to each !;
statement of the number of men employed in
October of each year from 1850 to 1856 inclusive;
and comparative statement of some of the OPP
erations on the Worcester and Nashua, and the
! Providence and Worcester Railroads.
The Committee appointed to procure, sort, and
count the votes for Directors. made the following
| report -