Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1856-11-17
AsSuAL REPORT OF rHE essssnsxr on ran
- = rExra AL II Al RIAL rnR is.s

The president aud directors have the satisfaction TO n.
the stockhoder- the general state Of the compan
prosperous; that the has increased beyons
their estmate and that the road in better eontso,
than Il before
Soon alter the last meeting OF IN. comp.ny IN. orl N
taking up the last OF the IRON from main ne
the rad aud putting the heavy rail place. vas com
peted making the road one Of the substantial In
State.
Rorer~s ofthe prese-i aud vert year
In the last report il estimated that the receipts
would amount to tt5o0Oo. but they have reached IN.
sum OF $sos,tls Is, Of which sssos 81 derives
freight $2T 5o7 81 from the United States mail being Ar
increase ofsi2e,oi7 IL ON the receipts OF last year
appears, from the experience Of this company vel
that many Others that the section countr,
is everywhere steadily increasing the business which Il
furnishes railroads. the advantages they offer to the
various industrial interests in the country daily more
appreciated
For the three fret quarters the fiscal year there were
only about three miles OF road 10 than were in
operation at the close OF the last year. and tor the
quarter only ten miles morc, making addition
OF about ave per TO the length OF the road whilst
the sddit'on to the receipts Is about 30 per cent
The board thinks the revenue OF the year NAV be
safely estimated at $780, o and thc propetors Of the
various springs whish year be reached With 80
much by this road shall enlarge their scco,nmoa.
tons their popularity viii demand they have doubt
the receipts would greatly exceed that IL s
cxtsvagant opinion, to suppose that the company
this year. $2oooo for the want OF accommodations for
those who desired to vis, our mountains1Ast summer
| bxpense&
The whole amount paid during the year. aud charged
to the several accounts OF Transportation expenses
pairs OF engines and cara "depot expenses salaries
and miscellaneous expenses" amount TO $251, s1647.
This Is about 80 per cent OF the whole gross re-
ccpts and leaves balance OF S25oiS6.6s, which sum-
IL had not been appropriated to the ructon of the
road would have been subject Of dividend among the
stockholders after providing tor interest oans and
dncting proper sum for depreciation OF road and
| chinery
The gross expenses embrace transportation of ron for
constructing track, aud the whole of salaries and mis-
ceaneous expenses which belong in part
Progress Of the irork.
Se-en miles more OF the road were brought into use
early in the month Of july and that short extension
towards the various springs bad most sensible effect i'm
increasing the travel
Amer the Legislature adjourned, spring. having dis
appointed the confident expectation which had been ell
ertsnej OF receiving aid in the prosecution OF the
work. prudence required the board should consent to
curtailment of their operations. Arrangements
therefore made with the contractors transfer all
tho force they had on the miles Covngton to
the section between the Jacksons river aud the present
terminus for the purpose Of getting il into operation
early period year possible The contractors
except Tor small amount OF work, agreed the
mortgaged bonds OF the company in payment for their
work. at $50 in $o0 Tor cash prices aud the board
ternine TO issue to contractors twelvemonth
bonds.
Ou this section, comprising twenty miles of the heaviest
work the line, large portion OF the work had alrea
Nv been done contract Tor the iron having been made
with the house OF Earrings, London PAYABLE twelve
months from delivery, the policy OF concentrating all the
force there viii enable the board to have the road ope
ration by the LIST of July, 1857 To point Jarksons
RIVER, miles above Clifton Forge where il will con-
meet with good turnpike about thirty miles from the
White Sulphur and Sweet Springs When the valley of
Jackons river is reached, thu great difficulties ot the
work have been overcome and the road will be acces.
HE the trade OF large an valuable portion .hc
part OF the State, besides bringing the Sweet
Springs aud White Sulphur within davs ride Tor pts.
seugers fron Petersburg Richmond, Alexandra, Wash
ingtnn aud Baltimore. Tine turmnus will then be only
about forty miles from the counyseat OF the counties
Monroe aud Greenbrier with fine roads the whole distance
connecting them.
river, will to the company all the advantages they
enjoy until some portion OF the Covnglon aud Ohio
road is done and the remaining ten miles from thence
Covingon the commencement oil the State work, will be
completed whenever found necessary be ready for the
State load far a. the White Sulphur Spring..
Biae Ridge Tunnel aud NOH,tdin Track.
1t will be gratifying to the stockholders learn that
there ID good ground for calculating that the Blue
Ridge tunnel which, they aware constructed
der the authority OF the State, will be completed early
spring, aud that the will then pass through IT,
instead Of passing the top OF the mountain they
DO nov the temporary tract built by the company
The engineer Of the Board Of Public Works reports only
about l4 iet OF the heading of the tunnel remaining
unfinished a: this date aud without unforeseen acct
dent all likely occur that difficult and mag
nihcent enterprise will be completed by The first day OF
MAY, 1857.
As the public are laboring under very erroneous i'm
prsions in relation to the OF this work. it may
be amiss state that the whole Blue Ridge road reach
the the western base the Blue Ridge
mountain which il being built by the State comprising
miles of track and three tunnels besides the
main Rock Fish Gap, OF ago feet will he com
pleted for about 81 400 600 and of that the Rock
Fish tuHmel Sin only about s46i OOO' These sums
les than expected aud the tunnels believed
tn be below ordinary prices.
Mountain Track.
The perfect with which the mountain track has
been operated for two years without he slightest acct
dent since it rs.aily opened for public use il
only subject Of cougrauaton 10 the stockholders of the
81 .F IL. IL.
Rilet under whose direction il ucted mot lor
getting the admirable Of Mr.. Netherad the
superintendent but Il to furnish information which
will DE oil calculable value TO all who hereafter be
engaged in the Of railroads through noun.
ainous regions, where natural difficulties the Of
funds would otherwise delay in their completion
IL will be difficult to estimate the value to this
company Of this mountain track in the building aud work
ing OF that part OF their road use facilitating the
transportation OF the iron the Blue Ridge, required
for the western portion aud furnishing the ony practical
BILE means OF accommodating the traffic which has
from the vest side OF the mountain
IL often happens that immense advantages resulting
irom the speedy opening o line present themselves to
company and some difficulty Ia encountered in perrcting
the construction Of the road according the plan for its
permanent use; in such cases the temporary of high
grades n company ultimate benefits far out.
weighing the expense to be incurred very striking
illustration OF this IL found in the adoption ol temporary
ack the line OF MlbOro where the interest on
the money saved ~ she present time in two year. will
amount to the whole 81 the temporary track which
will no; only ~ DO all the business 81 the road until
the Covngon aud Ohio road opened hut will aid very
much in the final construction Of the road it, perma
nent location.
anticipation Of Payment IF Note due Mesvs BariHgs
Tho serious agitation resulting from the Interference Of
northern fanatics with the domestic Of the South
disturbing the political tranquility Of Union cal
eq'ated 10 affect the credict Of all American secure.
abroad 81 the stockholders informed in the a.tre
port purchase OF 900 Df iron bal been made Of
Hesrs Bdrings payable ~ months from time OF delivery
10 proposing the second purchase Of this house. which
mention is made in the previous parts Of this report con
sisung OF 200 tons, the terms il graft
lying 70 nd their confidence in the credit OF this cOmpa
nay was unimpaifed IL would be unjust Mr. Ret not
TO say that this confidence IL in degree be ascrb
ed TO the impression made during his vi,t England last
year, on the business OF the company.
The board glad to be able state, that With view
oi assuring the Messrs Barng- that their confidence H.
the punct1sliy Of this company not msplpced, the
settlement OF more than hall the due March
for the fret LOCO I'LL be- anticipated by paynRit In
the present month Of October.
Connection Vih York Risey Road
Atthe last session Of the Legislature ar act was passed
securing 70 This company the right 10 build what Is com.
He'd he .1tnrt fracL I.f-. nj