Smyrna times., 1856-02-06
WHOLE No., &54.
Third Annual :. e90IY
Of the President and Directors of the Della
Uare Railroad Company.
OFFICE OF THE DEL. RAILROAD Co, }

Udre RGaTodd Company.
OFFICE OF THE DEL. RAILROAD Co,
Dover, Jan. 10th, 1856
To the Stockholders Of the DEL Railroad Co..
GENTLEMEN-The Board of Directors have
the pleasure to report that during the past wear
the work committed to their management has
so far progressed that the track has been laid
from the junction with the New Castle and
FrenchtoWn Railroad, and is ready to be OPEN
ed tor travel as far as Dover. The grading, at
most of the heavy points on the line between
Dover and Seatord, has also been completed,
amounting to about ne-fourth part in length,
and one-half in excavation and embankment,
OF the entire line below Dover; so that the work
may b. completed and the road opened in few
months, if the means provided, and to be provi-
ded, shall enable your incoming Board to push
1t forward with corresponding activity.
The State Loan.-As directed by you at the
last annual meeting, the Board made application
to the Legislature, then in session, for loan of
the States credit, and succeeded in obtaining
such loan to the amount of one hundred and
seventy thousand dollars upon ample security
given. AS result of this Legislation, thrty-
five miles of travelled railway have been al
ready added to the highways Of the State the
cost OF which has been more than realized to
the community in the increased value of land.
and the improved facilities of travel and trans
portation.
More than all that was anticipated has also
been realized in the business Of the road Er
the short time portion of it has been opened
and we think it has been demonstrated that
besides the general public benefits Of this I'M
provement, the Delaware Railroad will. from
the start, yield handsome return to its stock-
holders.
business ofthe Road The road was omen.
ed for travel from Middletown in the month of
september last and, though the necessity of
using the track for construction-trains, has un
I'll very recently, prevented the running gilmore
than one passenger train each, and has also
prevented our supplying the full demand for
freight trains, the business done up to the Ist
OF January was not less than $500 passengers
carried 4l,972 bushels of grain freighted;
$40 bushels of lime; 262 tons OF coal. and
2,747 tons Of other freights. When it is re-
membered that this is only for eleven miles of
the upper section of the road, nearest to mar
ket, and in immediate competition with water
transportation, 1t cannot be doubted that the
! twenty-four miles now added will double the
receipts nor that these will be again duplica-
ted as soon as the road can be opened to Sea-
ford.
Steamboat Line SOuth-Your board hasa1so
! taken proper measures to connect by steam
boats al originally cOntemp plated, with the great
lines OF southern travel, as soon as practicable:
from which they expect, by greater speed end
economy, to draw portion Of the through ira
vel. Some Of the details of this great business
were presented in a Report of the President
under date of March 6, 1852, the figures of
which report might now, perhaps, be verified
with the addition Of full fourth part 10 the
aggregate amount then presented,
| To secure n share of this business for our
road, by line of steamers from Seaford to
Norfolk, or other port, connecting with the
southern chain OF railways, an object in which
the upper railroads of this State, and of New
Jersey, your Board opened a communication
with these companies, with view to obtain aid
to such line by favorable apportionment of
through prices upon the principle of dividing
fares with the steamboats, pro rata, per mile
and we have no doubt that such an arranpC-
ment can be effected. In the meantime. the
Messrs Harlan d. Holllngsworth, experienced
Ship-builders of Wilmington, who will take a
large interest in the propeller line, have pre-
pared drawings, plans, and estimates for two
iron steamers of great capacity and power, and
of elegant finish; the details of which will lie
presented to you.
You will perceive that this plan embraces n
distinct steamboat line from Seaford southwa,d:
that the inducements 10 it are large tr; vel
and trade from several hundreds of miles o.
railroad already IN operation, which our road
can forward IN less time and at less cost than
it can be done by existing lines; and the en-
couragement to embark in it will BE a perma.
nent agreement among all the railroad compa-
MES interested, including our own, to share the
proceeds of through business with the steam
boats upon liberal pro rata principle.
The Board therefore asks the sanction of the
stockholders to such an arrangement on the
part of our company. .asa ..#
Lease of the Road.-When the stockholders
agreed to unite our road with the PHILADELPHIA.
Wilmington and Baltimore Road, through the
New Castle and Frenchtown Railroad theyre-
solved 10 avail themselves of the experience of
the upper company and its ready materials en-
gaging it to stock and run the Delaware Road
upon terms proposed at your last annual meet
ing. Content with having secured your first
object in its construction, and satisfied with
guaranty of lawful interest on your invest
ments, you passed resolution giving authority
to the Board to make contract with that COM
: pany, for equipping and working the road upon
these terms. In pursuance of this authority
;. lease was duly executed on the fourth of Nav
last, copy Of which will be laid before You.
1t cannot be doubted that while the revenue
; of the road will, as we believe, yield to our
lessees handsome profit, the public will be
better served, aud the stockholders more GER
talnly compensated by meats of this lease than
? if our company had undertaken to work the
road on their own account. asThe delay in get
ting up proper engines. cars, andsother equip
meuts; (eyen if means were at hand y the ditii-
! Guilty of organizing corps of agents and oper-
: atives, and the cost of that experience in
systenatisng, which that company already pos.
sesses, rendered it highly expedient as we'll for
public acccOmmoda tomas for our own interests,
to place the road in such experienced and prac-
tsed hands will now have the working of it.
In connection with this lease your Board has
also. in compliance with the Supplement of
!, of February "a, 1852 obtained the formal con-
sent of the New. Castle and Frenchtown Rail-
I; road Company to junction Of the two roads al
: point specified in such agreement aud upoa
. terms mutually bencGcial to the parties. "A
copY of this aOreement will he Ia ia hacora ~,