The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1857-09-25
REPORT

Of the President and Directors of the East
Tennessee and Georgia Rail Road Company
to The Stockholders in the same, at their An.
nuai Convention, held at Cleveland, Sept. 9th,
1887.
OrrroR r. TENN. d Ga. RAIL RoAp Co.,
Athens. Tenn, Sept 9th, 1857.
To The Stockholders of the East Tennessee and
Georgia Rail Road Co.
With this report is submitted for your con-
sideration that Of the Secretary and Treasu
rer and Superintendent of Transportation;
also. that of your Engineer in. Chief
The report Of Major Jackson shows, MS
compared with last year, n decrease in freight
OF s2b222 II; an increase in passage sales of
S24,Sl3 IA, and IN mail pay of 81, 4S7 49,
The same report also exhibits an increase in
cost OF maintenance Of way and transporta
tion OF s2l.04l 10; also. in the floating debt
OF S44, 1874 48, and that two Company bonds
have been sold and thirty six hypothecated
during the year.
The cause Of decrease in amount received
for freghts is well understood by every one.
The produce was not in the country to be
carried out and the imports are always lee
sened or increased in proportion TO the ex
ports The increase in passage money is not
equal to our anticipatlons by at least one
hundred per cent, nor need we calculate on
any very large additions to our passenger
business until the East Tennessee aud Vir
ginia Road and the Cleveland and Chatta.
nooga link are completed In this day Of in
creased facilities for passing from one section
OF the country to another by railways, it is
not to he expected that any great proper, ion
oil the travelling public will be induced to
adopt routes where staging and delays, no
matter how short, intervene
The Southern end Of your Road having now
been in Use some five years, and large
amount Of the timber being in decayed
state, had to be replaced with new tmbers,
aud some $4,000 ties of a superior quality
have been put under the rails during the
year For the same reason the Sweetwa alter
bridges had to be renewed also, very many
of our water stations required to be replaced
with-new materials. Additional side tracks
at Dalton and Knoxville and several inter
mediate stations, were also needed-all of
which having been done by our Road hands,
causes the amount of expenses charged to
maintenance of way and transportation to
run up soma 100000 more than last year, not
n small portion of which comes of the fact
shat we have had to pay higher rates than
ever before for labor and boarding.
The CONSTRUCTION, iron and equipment, and
real estate accounts have been increased
from necessity and due regard to the best
interest Of the Company. The tr-stle work
at Chattoognta creek was fast approaching a
condition that demanded safer and more
durable structure to he substituted. That
work is now nearly complete. For particu.
lars with regard to it, we refer you to he re
port Of the Engineer The housing for our
engines. the want of which has always been
so great II source Of Inconvenience and heavy
expense, has been pressed along during the
year MS we could spare the money TO pay for
the work. and is now sufficiently advanced
to insure its occupancy and the safety and
| protection of our engines during the winter.
| These two improvements, both indispensable,
together with one locomotive, three pnssen.
ger and five fiat cars. freigh, house AT Lon.
don, transhippng shed at Dalton and he act
Element OF much right of way, have been the
causes of an increase in our floating debt.
In the floating debt there is an item of
s5s635 Al for iron and spikes for the benefit
of Cleveland and Chattanooga link Road
which is payable in State bonds. at par, when
received from the State
With regard to the condition and progress
OF the work between Cleveland and thaita
nooga, you are referred to the very full report
of the Engineer, X. Z. Morris, Esq You will
| notice that the revised esi innate Tor that worE
increased the probable cost slOO, 900. and il
is possible that amount may fall below tn.
requisite sum. This is a matt er that requires
| your immediate attention or that of our sue
ces-"rs in Office, MS any delay in rrovidin.
means will delay the completion of n worl
on the success Of which depends your bes
interest Every days experience demon
stlates the fact not only that your grea
income is to he from passengers. but that tn,
Cleveland and Chattanooga link is the indis
pensahle key to control it,
Respectfully submitted in behalf of tn
Board c. WALLACE, PrCS't