Newbern weekly progress., 1859-07-26
$164,194 -
Total amount,
S9.1OO 90

This Statement shows the actual cost of cork
ing the Road, including works on the Road
bed and Tracks, rebuilding engines and cars
building new ones, and all reconstruction of
whatever kind.
The Treasurer's Statement besides this, shows
all Pigments of the year-not chargable to the
current operating cost.
The following extract from the Report of the
Directors to the Stockholders sets forth facts
which must not only prove satisfactory to the
Stockholders, but gratifying to the people Of the
State at large:
The Hane ina condition ID ito, Of the Gompa1n,yy is
and the 'Trcasurer's abstract. The Receipts in
detail from various sources fully set forth in
the Tables of the Transportation Department.,
given in the Report of the President to the Board,
and also the condition of the Road and its equip
ment. In order to determine this highly impor-
tant question satisfactorily, the Board have deem
cd it advisable and proper, as well as their duty,
TO examination to be made by commit
tee, whose Report of the same has been made to
the Board and is very satisfactory. The Board
refers with pleasure, to the steady increase in
Road Receipts, showing marked prosperity,
which ought to be highly gratifying to the atock-
holders During the fiscal year inst closed, the
State has been paid one instalment of per cent.
the million of preferred Stock, by declara-
ton Of a dividend for January, and the same a.
mount, 3 per cent, has been declared, and order
cd to be paid as the remainder, due for the fiscal
year, Of per cent. Total, up to June 1st, 1889.
been set aside for the sinking fund of per cent.
Bond debt of the Company-upon which, the
semiannual interest is regularly paid when due,
in March and September. These payments for
the last year, amounted to the SUM total of s. 12-
OOO That is
For 6 per cent div. to the State 500 900
For interest on per ct. Bonds, q 600
For Sinking Fund, 25 90
-$112 900
The Board have also declared a dividend of 2
per cent. to the Stockholders, payable on and af
ter August 1st, 1859.
Du1ing the last year the floating debt of the
Road has been so nearly paid off to leave
scarcely any balance due of outstanding liabili-
tics-except small amounts current accounts
for material and supplies-whch are very large
ly overbalanced by the amount of material on
hand"
Of the condition and prospects of the Road
the President Mr.. Fisher, in closing his Report |
says:
The Table of receipts show regular and nota-
bic increase of our business in each month of
every year, although we have had no good gem
eral crop-year, Since the opening of the Line
The effect of the work on the country, and the
people, has been marvellous; life, energy and
thrift, have taken the place of a general stagna-
tIon, and a grateful return comes to the agent of
this change in the result Of production, still in
for the work OF improving, instead of exhausting,
of the most variously productive regions to be
found, is only begun. Every season too, will in
CieSse LIe uuuUer, DIS Weu DIS tHe iuaHL1ty VI pro-
ductons.
During the coming year, may expect conf
dent y large increase to our business, both to
and from the Western North Carolina Rail Road,
now in operation to the fine valley of the Cataw
ba. nearly 40 miles, and soon to be opened 20
miles farther. Our connections with this road at
Salisbury are we'll arranged and convenient as
was highly important for the point of junction
for the two Roads, destined in the future to make
a chief part of the greatest Through Line, it is
!nquestionably the nearest, and the most direct,
between the valley of the Mississippi and the At
iantic Ports, both of our own State and the Ches-
apeake.
think, so far as it is possible to Judge of the
future of our work, by its history SO far We have
every reason to be satisfied and hopeful. The
road is now clear Of floating debt and has de-
poslte Of over $50,O0O to pay on the Bonded debt
OF h $''5O, 900 So that in fact, we owe less than
600 of the Bond debt at this day. We have
pad tie State per cent. her preferred stock,
nave some means on hand, and the road can most
certainly, unless some calamity befals, from this
lme forth, begin to divide some amount of profits
among the Stockholders. No Road in this coun- }
try has ever done better at an earlier age.
WATCH HOUSE REPoRrs-Mayor Lane had rather =.
an easy time yesterday morning. the only case before