The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1859-07-26
NORTH CAROLINA RAILROAD CO.

The annual meeting of the Stockholders in the
above Company was held at Greensboro ON Thursday
last, the 14th instant. From the Report submit
ted to the Stockholders by the Directors, as well
as from the Report of the President to the Direc
tors, we learn that the position of the Company is
more satisfactory than had been expeeted-that
in fact there is every reason for congratulation.
The fiscal year closed on the 3lst May of this
year, instead of the Both June, as formerly; SC
that the reported receipts and expenditures are
only for eleven months, as follows:
Through passengers, S54, 316 05; way passen-
gers, S100,13S %; Freight, 1869 Il; Mails
20, AL 63; Incidental sources s5,l9S GO. Total
receipts for eleven months 1856, 1874 80, being an
increase of A 635 % over the eleven months last
year, ending May 3lst. Adding the receipts for
june amounting to $50 900, the total receipts for
the twelve months would amount to 1887 1874 80 OF
an increase over the corresponding fiscal period of
the last fiscal year of S50,63l %.
The Expense Account for the eleven months
has been as follows:
Bureau Department. $3.50 81; Transportation,
ST., 295 90; Machinery, 34,762 So; Road, s51,
554 70. Total Expense account, $l64, l94 y;
Of which sum 50, 100 is for new cars aud new work
on extraordinary repairs of road.
This would show balance, after paying the
ordinary working expenses Of the Road, Of $780,
$40 09. From this there has been paid $50 coo,
million dollars of preferred stock; s27 900, being
interest on S350,OOO s per cent. bonds; $4,000
to Sinking Fund for theextncton Of the8 per cent.
bonded debt. The payments for the year amount
ed to S112, 200, and the Directors have further
declared dividend of 2 per cent. to the Stock
holder, payable on and after August 1st, 1859.
The floating debt of the Company has also been
reduced during the year. Fifty thousand dollars
already deposited to meet the $3.50, OOO.bonded
debt of the Company and that can be readily con-
trolled The prospects Of a continued increase of
the business Of the road are looked upon as good,
especially in view Of the opening up of the West
ern North Carolina Railroad which will soon reach
Morganton and must prove a most important feed
to the business and aid to the prosperity of the
N. c. r. Il.
The President thinks that from this time FORTH
unless some calamity befalls, the Road can divide
some amount of profits among the stockholders.
We learn that Mr. Fisher and the other in
dividual Directors were chosen without opposition
nearly so, save in the Of Judge Saunders,
against whom Giles Mebane Esq, was voted for
After sundry unsuccessful ballotings, W. Il.
Dortch, Esq, withdrew the name of Judge Saun-
ders, and MIR Mebane elected.
We understand that the action of the stockhold-
such most fully and cordially to sustain
Mr. Fisher, who received a much larger vote than
on any former occasion, and against whom, indeed
there could hardly be said to be any opposition.
John W. Thomas, Esq, of Davidson, represent
ed the States interest.
The new directory stands precisely as the old one
did, with one exception-John [. Shaver is on the
State directory instead of Giles Mebane, and Giles
Mebane is on the individual Directory instead of
r. NJ. SAUNDERS Wilmington Journal.