Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1858-07-16
From the Raleigh Standard.
Nosfh Carolina RafIrOad.

Report of the President Mr. Fisher showing the oper
atons of the Road for the fiscal year ending June 3d.
1885,
OFFICE OF THE N. G. RAILROAD,
July LIST, 1858.
The Directors submit to the Stockholders of the North
Carolina Railroad the following Report of the general
condition of the Company and of the operations of the
Road for the fiscal year ending June Both, 1853 made
to them by the President acting as Superintendent
The total earnings from all amount to- 68
The total expense acct for the amounts to 9O 96
Nett receipts 1888, 767 p
The increase of gross earnings over the previous
year is. $50, Ivy 10
And of nett profit. 20,843 90
The number of miles run by Passenger Trains
Number of miles run by Freight Trains . lO2,s2O
The number of regular Engines on passenger
service which have made this mleage-ten, 10
With but little aid from extra service.
Appended to this Report will be found various alb
sract statements which explain themselves. That show
ing the disbursement account of the past three years.
during the time of the present administration OF the
Board has been made out by reference back to every
warrant in detail and therefore contain no error 1T
must show with perfect accuracy the total payments of
this period duly appOrtoned-so that there be no
doubt as to the nature of disbursements tor any account
Whether these disbursements should be made not
question submitted to the discretion OF the Board
There remained debts unpaid, construction account
of former years. which had to be met there remained
important work unfinished which had to be completed
there were works of reconstruction which had to be
finished when needed and of the whole disbursement
counts there is part not cOnsideoe to be work OF
necessity for the safety and best interests OF the Road
To the extent of this work. reference may be had to
the last Annual Report describing it in detail. Since
the last report work has been done on the Road
except the completion of water stations at Raleigh AS
bury Sectionhouse T. Holtsburg Harrisburg and Char
lotte There under construction the joint pas
senger house at point of connection with the West
ern n. c. R. r. in Salisbury. The joint freight houses
are erected The old warehouse at the point being
wholly inadequate to the business, in dimensions and
occupying the only convenient site for joint passenger
she'd the Boards of both Roads agreed plans of
nection which involved its removal. This removal has
cost only the taking down. all the material has been
and will be used in the new building and very good
connection be made for transfer of both passen
gers and freight at this important junction.
The Road Track is now in excellent crder it is kept
in good repair throughout the ine and enables all trains
to make their time with great regularity
The Bridges are carefully inspected at all times, and
are now in condition of perfect safety, being secured
from fire by metallic covering between the tracks.
Locomotive Engines.-This part of our machinery Is
in very superior condition. The engines regular SER
vice always kept in thorough order they are many
of them good when first received 1t is believed
that shall not need to buy any ones for the next
year, matter of necessity though it is always good
policy to keep few spare engines on road OF this
length. Our engines have been kept in good repair,
go down. The report of mileage and repairs sufficient
ly certifes what we doing; comparison may be
safely challenged with most roads in the country, to
the amount of work done by the same number Of en-
gines, their condition and cost for repairs.
Company ShOps.-Here the work of building will be
completed with the houses now finishing. The Board
have always incurred expense of construction with
uctance, in consequence of the objections urged by
many against expenditures at this point By reference
to the table of disbursements it can be seen what has
been expended here.
Before the shops and their cost are condemned for ex
travagance it would be just and well to give them at
least credit for what they pay return and this first
per cent. all resident buildings; next, from 80 to
LOO per cent. saving all repairs last, that efficiency
of machinery and safety of running which otherwise
could exist and which it is possible estimate
IN dollars since there is involved not only capital invest
ment OF money but large amount of valuable freight and
the life of every passenger.
1t is very gratifying to be able to state that up to
this date accident involving the endangerng of life
or limb has yet happened to any passenger train
since the Road commenced work. Our trains regu-
lar and unfailing in their connections.
The business of the last year has fallen short of what
was expected In the beginning of the year receipts
highly promising-but the terrible crisis and the
low price of produce cut them off, and although unlike
almost all the Roads, many Of which lose 80 per cent?
we have gain over last year. it is not such increase
expected. 1t is very clear, however, that in
crease is certain both in Freight and Passengers.
weeks, and to the Catawba Valley this Fall. From it
we will receive most valuable and large accession to
our business beyond doubt-and it will be trade
which has never before reached North Carolina Road
or port. We think it must be very nearly quite
equal to 100000 in amount for next year.
We have good Road of 223 miles main track, and II
miles sideling-together 24O mies-with business
every year increasing For the last year Passenger
Trains have done double daily service and Freight
Trains whatever required in the Transportation at
cost of less than 46 per cent Let our Road be still
kept in complete order and equipment to do whatever
work is offered and we have little to fear for the future
The Road gaining character and poston-its receipts
steadily increasing every yearand the ratio of
crease must soon make it highly remunerative one
to the Stockholders. The receipts of nett profits have
been from its first year sufficient to pay dividend but for
the being of necessity absorbed by the floating
debt, not known to exist The cost of the Road, as it
is complete exceeds its capital stock largely but should
be remembered that the distribution of profits the divi
dends, will only be upon the capital of 100000, on
work of much greater cost.
The Treasurers Report and usual tables appended.
By order of the Board
CHAS. F. FISHER, President
We gather the following information from the tables
submitted by the President:
Number of passenger coaches LIST Glass; l3-2d class,
mail coaches, Sin all o. In addition to these
there 292 box, gravel and fiat cars and the like.
The temporary liabilities of the Road are $l44,00
To meet these the Company has means amounting to
$l5l l5O exclusive of freight balances unsettled and cash
balance on hand The materials hand are estimated
at $84, 800.
The amount of Road receipts from july |. 1856, to
July l, 1858, is $928,294 II. The cost of operating
the Road during this period was $4462O3 32-leavng
nett profits $483090 IS. The receipts from all
for 1857 $30O449 &c. and for 1853 $685. 558 68,
showing an increase of $35,l09 05.
The grand total of receipts from the beginning of the
work up to July, 1858, is $5815388 43, and of dis
burSementS SIS. 667597 o.