Weekly standard. [volume] (Raleigh, N.C.) 1858-1865, 1859-11-23
WILMINGTON AND WELDON RAILROAD.
PRESIDENT AND DIRECTORS REPORT.


To the Stockholders Of the w. d ". r. r. Co.:
GENTLEMEN The President and Directors in
laying before you their Oath Annual Report, feel
gratited in believing comparison of the transac
tions of the Company for the last two years with its
previous history will give you the most hopeful as
surance for the future.
The Report of the Treasurer shows an aggregate
of receipts Of S477, rs; some $500 in excess
of the previous year. The cost of operating the
Road (Which also includes the pcrfecting of what
was unfinished and the repairing of what was in
state Of decay amounts to $242, ,S53.75 for state
ment Of which, in DETAIL you are referred to the Re-
port OF the Engineer and Superintendent. The diff
ference between the receipts and the expenses as
exhibited, shows that we have made nearly Is per
cent. on our capital stock. These profits have been
absorbed in the regular contribution of per cent
to our sinking fund.- per cent to the payment of
the interest on debt, including premium on ex-
change, and er cent. in dividends to our stock
holders leaving a small balance on hand Our pro-
fits, indeed, not as large as they were for the
year ending October, 1st 1857; but when it is re-
collected that at that time had the benefit of
exclusive through ticket between the Northern and
Southern States (the only rail connection between
these points being over our line,) and that then the
outside steamers from Charleston, Savannah and
New York were not running in opposition to US,
are truly astonishcd that the difference is not much
Sicatci DuiHiSo tlie litSt lNels
lines of rail connections (each earnestly and emerge
tcally competing with us) have been established
The outside steamers, formerly, oE!y few screw
propeliers, have increased from to IL, and are row
of the largest class of sde-wheel steamers. The
immense amount of freight which they carry enables
them to transport passengers at greatly reduced
price. Under these circumstances we repeat, that
the amount of our through travel for the last year
should give to the stockholders most reliable
of f,f, xxt;1o fhn nlo
ments of opposition to the great Atlantic Trunk Line
have been thus fully developed the managers of this
line have not been remiss. New connections with
both north and south of us) in rapid progress
of construction which will not only greater
dispatch of travel, but must diminish expense. Be-
fore the end of another year, the Wilmington and
Seaboard Road will be extend to a point on the
Chesapeake Bay atoit so miles north of Portsmouth,
and passengers can then be carried from this point
to New York in eight hours less time than is now
required for the same service. Early in January,
the Road across the peninsula of Florida, from
Fernartna to Cedar Keys will be completed This
work. in connection with daily line of steamers
from Charleston to Fernandna, (already establish
et) will put us in close connection with the vast
travel of the Gulf of MeXico
But notwithstanding this promising aspect of oul
through travel it is domestic business (both ir
travel and frcights) which should inspire with
the most confidence. While the forlner-way trav
els in of any previous year, our fieshts
in defiance of all competition, manifest steady in
crease The Report of the Engineer and Superin
| tendent demonstrates the great disadvantage unde
| which this branch of our business (Which Of al
others should be most cherished) labors. His re
marks on the policy of our assisting 1t, by the EN-
ployment of line of steam-packets between v il
| ming:on and New York, are earnestly recommended
to your consideration And our ability, in conncc
/ ton with the Manchester and the Rutherford Raj
Road Companies, to support such line, cannot b
doubted.
The stockholders will perceive from the Report Q
the Chief Engineer, that the resolution authorizing
the construction of Branch Road from Rock
Mount to Tarboro, adopted at special meeting @
the stockholders, held in Wilmington on the lot
of May last, has been partially executed. The con
tractors who have given bond with approved sc
cnrity for the faithful performance and completio
of their contract before October, 1860, are now a
work. \ change of both of the terrnni, fixe
by the survey. and as embodied in the contract, !
earnestly solicited by some of the stockholders
This subject is referred to you for your considera
'tion.
Respectfully submitted,
WM. S. ASIE, President.
November 10th 1859