Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1858-11-03
!, .ALEIGH = GAsfoN sIsAIIRoAD.
pREsIDENTss REPORT. l !.
zSsAs sStouEAo5dsrse ~ 6 ssss .<e.
stak& Gastos RAILROAD cdnpany.

Since Your last annual meeting 1t mas pease0 tue
Advise Creator, to take from our eoone,'s, s
as Miller ESQ. Of Granville, an early and most oe'
voted friend OF this work. He was ever jealous
advocate of its prosperity and well dong and dur
ing long connection with the Boad, proved an
agreeable associate and able useful ana emc!ens
auxiliary in its abors The vacancy thus OCCASION
ed the Board deemed it advisable not to fi-the ex-
ieences Of the service not requiring it, and the an
nual meeting of the stockholders being not distant
The Report of the Treasurer with the usual bal
ance sheet and the statistical tables accompanying it.
will exhibit the financial and business operations OF
the company for the fiscal year just closed.
The earnings of the Road have been. from Freight
$14s, 55l 60; from Passengers $7s, s,e7; from
Mail $4,000 /; and from others sources $7iS-
amounting in the aggregate to 1922, 49, The
total expenses have been 1854 465 OF; leaving bal
ance of SIG 573 SO. Out of this sum eight thousand
dollars have been carried to the sinking fund and
dividend of six per cent declared the capital stock
amounting to the sum of $5s, $4,000, payable on
18th December next, leaving balance OF $lO no.,
SO applicable to future disbursements.
It is the practice of Railroad companies to set
down to construction or extraordinary account,
many items which properly belong to, and should
he charged under the head of ordinary expenses
In the Report of the Treasurer now submitted, the
proper discrimination is aimed at and all expendl-
lures belonging to the latter class are charged as
such; thus swelling the amount for such objects,
during the last year beyond that of any previous
year.
" The Board have not deemed it advisable to make
the imp, ovements at the various depots on the lne
and at the n. @. station, suggested and recommend
ed in their last annual report The state of the IT,
nances-the current demands upon the treasury,
and prudent regard for the interests of the compa-
nv, admonished against so large an expenditure
At Mibrook, Browns and Wake, accommodations
have been erected for the Section Master ard hands
Similar accommodations will be required at several
other places during the current year.
The bridge over Roanoke at Castor, has been
completed, and noble structure it is. The wooden
drains between CASTOR, and Weldon with the excep-
ton of five have been renewed with stone in most
substantial and permanent manner. 1t has been
found necessary to purchase and put on the track
great many ties; this will be source OF ex-
pendture for several years. as is advisable to con-
tinue such repairs annually till the whole be renewed
The bridge over Tar river is undergoing thorough
repairs and very will be in far better condition
than when first built. An inspection and examina.
ton of the other bridges on the line are proposed
and in progress and repairs. where necessary, with
a view to strength and permanency will be made
q skilful builder has been employed for that purpose
and materials already obtained.
A large ditching force whose labors will not be
completed sooner than the first Of January next,
has been employed during the year-the attendant
expense is necessarily heavy. No expense or labor,
however, have been better employed, since the con-
dition of the main track Of the road, upon which
the safety ana success OF running cnleuy OepenOs
was never better at any former period
The locomotive engines and car equipment Of the
company, have been we'll kept up; and the expenses
of the transportation department have been conse-
quently great. One new locomotive 0he MordecaiO
of twenty tons, from the shops Of r. Norris & Son,
has been added to the list, and has proved to beal
we could desire. ", superior second class and
baggage cars, Zone of which was built in own
shops) have been put on the road. We have also
built fourteen fiat and rebuilt fifteen house cars;
and the repairs of others have been greater than in
the dHs' inadequate supply Of such stock.
Our trains have run with great regularity and
safety not single passenger has been injured An
unfortunate occurrance happened in Raleigh, occa-
stoned by man jumping from the train while in
motion between the depots and falling under it,
causing death. Accidents causing delay and failure
in connection, have been very few. For this. much
credit is due to the industry, energy and fidelity Of
the suborninates and operatives in your employ
and they deserve at your hands all praise. The
safety in running and the striking decrease of acct
dents, to our cars during the past year, attest as
we'll the strength and efficiency of the rolling stock
of the company, as the excellent condition of the
track; and the highest credit is due the Supernen.
dent and Master Machnst, for the skill and energy
employed in their respective departments. The APP
pended statement of the master machinist will ex-
hibit the condition and value Of the rolling stock and
materials on hand. ..--..
Raleigh, resulting from the small space within which
they are confined, as well as the contracted room
for labor render it indispensable that measures
should be taken either to enlarge the present build
ing or to build others of suitable capacity. Sheds
for are greatly needed and engine house al
most indispensable. The injury to cars and machi-
nery unavoidable in their present exposed condition,
will far exceed the interest on an investment requir-
ed to protect them.
Notwithstanding the almost unexampled moneta-
~ crisis, with which the country mas been visited
during the past year. and the consequent stagnaton
and derangment OF all business, embarrassing every
interest and subectng to the severest trials Rail
Roads and other MISUNDERSTANDING some in
bankruptcy and ruin and causing others to suspend,
it is cause of much congratulations that this compa
ny by the practice of the most rigid economy, and
postponing works, almost indispensable, have been
able to sustain itsel-to continue its regular opera
tons, to meet promptly all its liabilities, and to pay
the usual dividend With such result before us,
and in view Of the fact that Industry and enterprise
are now unfettered and business has resumed its &C.
customed channels, are encouraged to believe
that with the present tariff of rates, and without
recurrence Of the late pressure, shall be able to
realize all income sufficient to pay dividend of six
per cent and to appropriate sum annually to the
improvements SO much needed on the line. The
Raleigh & CASTOR Railroad is not only becoming
avorite avenue for the quick and cheap transit of
tonnage to the West, but is now one of the impor.
tant Inks Oh tue great central line OF travel which is
gaining rapidly in public favor and which is destined
to be the great competitor Of the East Tennessee &
Va. route for Northern and Southern travel We beg
leave to call your attention to the suggestion in our
last annual report in regard to the Coalfield Road
and respectfully to submit to the stockholders the
propriety Of some action commensurate with its inn
portance.
There are no institutions whose expenditures bear
great proportion to their receipts as those of rail.
roads; and the importance Of cultivating in spirit
OF justice and fairness, the of supply with
which to meet such expenditures cannot be too high.
~ appreciated 1t should not be expected that rail-
roads will long retain the favor Of government, or
possess the confidence of capitalists if they involve
the one in debt and produce loss to the other. 1t