The Washington union. [volume] (City of Washington [D.C.]) 1857-1859, 1858-10-21
CITY INTELLIGENCE
opANaE AND ALEXANDRIA RAILROAD COM
PANY,

ma stockhodes Of this company heiu 'iei' n'n'h "n
,. ,eetipe az their Office yesterday IN Aiexandria On
action 81 John s. Barbour, jr esq., COL william =
Sb.nherd Of Nelson county, was appointed chairman
,nI James H. Reid clerk Of the company attended as
secretary. .,.... - ,i,.oa
on motion Of y. NJ. Latham, committee OF ''fee
..aholders was ordered TO examine the powers Of
l, The sIIowing persons were appointed as said
I.ai,tae. y NJ Latham, of Culpeper w. w Harris,
- YIN and George w Smoot, of Alexandria.
IN MOTION Of DIR. r. O. stoughton, il was resolved TO
RECESS until four clock, p. m, and then to meet
aa .,oc,holers reassembled at Lyceum Hall at four
o'clock in the afternoon
y N Iatnam from the committee on proxies, re-
u. Nat tbare were powers of proxies present repre-
i.n,ng 8 677 being more than quorum. IL re-
orjres g. SIS for quorum.
1 ANIMAL report of the president and directors was
r.ad from which we give the following extracts
he receipts derived from transportation OF passen-
-, tonnoge and mails over the road, or its earnings
se present the most interesting feature under this
head TO the stockhoideis' ,., ~ oa,, =,
cnber amounts to the aggregates sum of $500, s96 ~
ana bas been drawn from tho following sources fassen
r. sI28 500 10 freight $50, GIT 90 mail Sio, aoz,
"a OF the receipts from freight the sum OF szf3t 90
VA. coectel from the Manassas Gap kailroaa company
in IA
over our road from the point OF intersection 10 AcAh
dra ,,.. .,,,,t - s,oe ono
al leaving as net revenue the sum OF Sl3l,9fz 10.
Ia cross repts are less than those of the year pre-
, ~ the sum of $14 3S2 S. while the net earnings
caaJ the last year by the sum of SIT $50 10. Some
considerable reduction in the passenger receipts cohsc
onent pn the surrender in December last oil the great
mail letween Washington and Richmond, oil which our
opapy and that of the Virginia Central railroad were
ioint contractors and the withdrawal of the night
trins was naturally To have been expected Our
receipts from freight show steady increase over
those Of last year. notwithstanding the recent short crops
and general depression of the agricultural interest For
be first time too since the road has been in operation
the navigation Of the Potomac uninterrupted by ice
urnr the last winter and the company deprived OF the
usual large receipts derived from transporting passengers
nj that season When consider these several causes
of abatement which have operated to lessen the receipts
Of The mast wear we cannot but regard this exhibit of
nrsent revenue furnishing additional evidence OF the
vaue Of the road and Of the firm basis upon which its
anacity for profitable business already rests. Since the
new arrangement for through tickets with other COM
NAMES went into effect from lst Of June LAST pasen
ger business has largely increased and now exceeds the
receipts OF any former period II the present ratio Of
receipts per month could be maintained and the bust
ness promises permanent resutsit will be easy to COM
mute by simple process of arithmetic the large increase
of revenue for the next year. The net earnings OF
Transportation exhibit profit of more than six per
cent upon the cost OF the road now in operation, and
its equivalent This of course however, will be subject to
such deduction would be necessary to provide an AIDE
uunte fund for renewal of track and machinery Accord
ing to the statement of the general superintendent the
working expenses OF the road only ortyone per cent
of the gross receipts for the year, which exhibits the pru
dent economy with which that branch of the service has
been administered, and is much less than the average
u of working expenses 10 receipts other railroads
AT the time the excellent condition Of the road aud
machinery has been properly maintained, and the trains
with unsurpassed regularity and safety. Some re-
newa Of track, and additions to the rolling stock have
been made during the year. as the exences OF the work
required For full particulars and details in regard
the working of the road state of machinery and cars
condition of bridges &c. reference is made to the accom-
panying report Of the general superintendent The board
take pleasure in commencing the efficient manner in
which this department. is managed which, II is believed
in all essential points, will compare yoraby with that
Of any railroad in the United States.
"a contract has recently been made with DIR. w. S.
Morris aud others for the construction and operation of
line Of telegraph upon the whole length of the road with
offices to be located at convenient points The line will
be put in operation far Gordonsve in short time,
and is ultimately to extend to Lynchburg and will afford
additional facilities in the working of the road
1.-THE refusal of our joint partner in the arrangement
the Virginia Central Railroad Company-to adopt
through ticket and the obvious desire their part to
give up the contract communicated in last report
compelled surrender the LIST of December last to the
fost ohee Department of the transportation of the mails
between Washington and Richmond, on terms deemed
allowed for the double daily transportation of the mails
an allowance was granted Of $3.50 per mile for single
daily service, with double that amount for same service
whenever the navigation of the Potomac river should be
closed by ice and the transportation of the mails arrested
over the route by Aqua creek
1.-THE adoption of the present scheme of connexions with
the southwestern railroads. not then anticipated which
requires the running of two daily passenger trains makes
matter OF some regret now that the former contract
should have been surrendered. In May last an ar
mngement was effected with the several railroad
companies interested by which an exclusive through
ueket was formed with our company and the Vr-
ginia Central Railroad Company by the New Orleans
ana Jackson Mississippi Northern Central Charleston
and Memphis, Georgia and East Tennessee East Tennes
see and Virginia Virginia and Tennessee, South Side and
Danvle Railroad Companies for the passengers travel
ing over their respective lines to Washington and the
northern cities This arrangement which went into full
operation about the LIST Of july has resulted favorably
anu produced valuable addition to receipts already
although rom circumstances beyond control,
pahy not allowed its fair proportion Of the pro rata paid
" others With the completion Of our road TO lynch
ug TINS dlcuty will be obviated aud large part of
Tue iare now received by other roads must necessarily fall
70 our share Enough is known, however, TO demon
c tue great prospective value Of this business for
"neh our road will hereafter stand confessedly without
The result clearly illustrates the original policy
VI me company IN undertaking to construct the extension
" hS important part Of their work."
he receipts for the past fiscal year are stated at 2sl
100 ~ end the disbursements at ST. IT'S, 36l &C. The
ASanB Indebtedness Of the company amounts to &c.
O'o 'o'ahd tie means due and uncolectel IA part of
'"'h may be olassed as unavaable) 1882 795 So The
""oie funded debt amounts to ST. 4s0 500 The report
e tnat the means and resources Of the company will
p'o 70 meet the entire cost of finishing the work to
'"'noufg In reference to this extension the report
says: ~ -
of tl,