Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1859-11-16
G. II. WILDER, Pres't.
FINANCE Committees REPORT.

The Commit &c OF Finance and Inspection submit
the following Report:
That they have examined the track-way of the
roa, and find it in good condition Indeed it is now
in better order than when first completed. The
number of ties have been increased, thereby giving
great rinncSs to the track, and rendering it more
capable Of bearing heavy trains during the winter
months.
The Bridges on the road have been thoroughly re-
paired, and are now in fine condition, except the
Bridge over Crahtrec, which repairs are now be-
ing made, and will be soon completed
The Rolling Stock is fully competent to carry on
the business Of the Company and is in as thorough
repair as could be expected considering the heavy
work of the last year.
They further report, that they have thoroughly
examined the financial condition of the Company,
and the statements of the T. caSrrer accompanying
his report are correct From the books Of the Treas
urer we find that the receipts for the current year,
ending the 3oth of September, 1899, were,
From the legitimate business of that
year. $25s. oGs "a
From winch deduct the cxpen. itures, les, $50 81
Leaving balance of S9,9T9 03
Which shows nett profit the business of the
last Year Of about nine per cent.
The sinking fund has been increased to fifty thou
Sani dollars, by the appropriation OF twelve thou
SIND dollars out of this balance; and if the future con-
dillon ot the company is prosperous the whole bond
ed debt can he easily met when due. without serious
Inconvenience or interfering with regular dividends.
The work the new Shops at Raleigh is of the
most substantial kind and the buildings, when COM
oletcd will furnish every accommodation needed in
tina: department.
Your committee would call the attention of the
Stockholders to the condition of the offices in Ra
leigh. AS at present situated there is great risk
OF Il total loss of all the books, records and valuable
papers of the company from fire. The building in
which these offices now are, very ral, inferior
wood structure situated directly on the track of the
road. at every moment liable to be set on fire.
Your committee would therefore recommend that
a tre-proof-buding be erected without delay, on
some convenient location the grounds of the com
panv, large enough for the accommodation of the
different officers.
The dcpois at several of the stations require
pairs and in some cases reconstruction We learn
however that the Board o! Directors have in contcm
plaion these repairs, and that they will be speedily
made
Your committee would further recommend a
change in the fiscal year in the operations of the
Company for instance, to make the year to end on
the LIST day of january instead of the 3Oth of Sep
tent e.. This sugg; SITS itself to your committee from
the fact that of the business arrangements of
the country made to close at that time, and
coniormancc to this custom will be much more
venicnt TO the stockholders. This would also enable
the Directors to declare semi-annual dividends in
stead OF annual dividends.
Your committee would congratulate the stockhol-
ders on the prosperous condition of the Company
but would respectfully suggest that in view of ex-
tenSivc repairs and additional buildings required on
the road the most rigid economy should be practi-
sed, and taken not to undertake improvements
so extensive that the expenses for the next year
may interfere with the prospects Of paying divi-
den to the stockholders.
All which is respectfully submitted
T. BROWN VENABLE, Chmn.