The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1866-11-28

Il
Z. b. COOK will sell at Mr.. John B. Davis's stable
on Franklin street, twenty.seven fns mules.
| ! LOCAL MATTERS.
MEETING OF STOCKHOLDERs.-Am meeting
of the stockholders Of the Richmond ant
Petersburg railroad was held at the com
pany's Office on Main near Ninth street.
II was ascertained that 1895 votes were
represented, and a quorum being present
business was proceeded with.
On motion, the action Of the Board II
making contract with the Richmond
Fredericksburg and Potomac and the Con
nection Company was confirmed.
The election Of officers was proceeded
with, and all the old officers and directors
were reelected, viz:
Charles Ellis, president, and Messrs. r
B. Haxall, DR.. d. w. Lassiter, and Thomas
III. Wynne directors On the part Of the
stockholders.
The following resolution, offered by the
president, was adopted:
ReSolUed, That the president and trea.
surer Of this company be authorized tc
issue coupon bonds, in lieu Of registered
bonds of this company now outstanding, ia
such persons as may desire to make such
exchange ; and it is hereby expressly un.
derstood and agreed that the coupon bonds
so issued shall be secured by any lien here.
tofore given to secure the said registered
bonds, and that such lien shall not be in
any manner affected or impaired by such
exchange of bonds. 1t shall be the duty
Of the Board to have the registered bonds
so received in exchange cancelled at or be-
fore the time of issuing the said coupon
bonds.
Thomas II. Wynne, Esq, offered the
following resolution:
ResolUed, That the Board Of Directors
be instructed to ascertain the number of
shares of stock in this company which
were registered and sold by the Govern
ment of the Confederate States, to whom
they belonged at the time Of sequestration,
and the holders of the same at this time,
with any other facts or information rela-
ting to the same which they may be able
to obtain, and report the same to the next
meeting Of the Board.
" |.~ annual Report.
The Board Of Directors respectfully sub
NIT their annual report of the affairs OF
this company for the fiscal year ending the
30th of September, 1866:
As will be perceived by the accom-
panying tables, the gross receipts ---.-
amounted to........... .xl67, $50 10
Tn Q operating expenses, Us shown
by the superintendents report,
ainoun ted to. ..................... lo7, ,097 OF
F. Net income meS6 $50. .7sS II
During portion Of the year the road
way and rolling stock were in an imper-
feet condition, and until the 26th Of May
we were deprived of the bridge over the
James river. The connecting roads south
were in similar, and in some cases even
in worse, situation for providing speedy
and comfortable transportation. Other
causes contributed to diminish the revenue
which the road would otherwise have re-
ceived; chiefly the extraordinary failure
of the crops in Virginia; the diminished
quantity of coal sent to market by the Clo-
yer Hill Railroad Company, and the preva-
lence of the cholera as an epidemic for
several months in this city. The mail pay
also allowed the company is only about
one-third of what it was before the war,
and about one-third of what is allowed the
railroad companies north of Washington
for like service. Under so many unfavor-
able circumstances it is a gratifying evi.
dence Of the substantial character Of the
business of this road that the income j.
greater than it was in any year preceding
the late war. Nearly every one of these
drawbacks have ceased to exist. We can
not, therefore, but anticipate with much
confidence an improvement in the earnings
of the road for the future.
The Clover Hill Railroad Company ha,
within few months past completed an ex.
tension of it's road to Osborne's, on the
James river. That company is also about
to improve it's machinery SO as to enlarge
its operations. AS these mines furnish the
best gas-producing coal found on the At.
lantic coast, independent of its other
valuable properties, and as the markets oi
the North are again open to it, with in
creased facilities for shipment, 1t will
doubtless regain the high reputation il
enjoyed before the war, and find q ready
sale. for any quantity that can be raised.
A comparison of the operating expenses
of the past fiscal year with those of seve'
raj years preceding the war, if proper al.
lowance be made for the depreciation OF
the existing currency, shows a degree OF
efficiency and economy on the part of our
experienced superintendent highly credi.
table to his management. As the bridges
are all either entirely new or have been
thoroughly overhauled, and sound timbers
substituted for unsound where necessary
to put roadway in good condition, and the
locomotives and other rolling stock are in
such order as, without accident, to require
but few repairs, we have just ground fol
believing that our ordinary expenses will
for some time to come, be very moderate
The company chartered at the last ses.
sion of the Legislature to construct road
connecting this road with that of the Rich.
mond, Fredericksburg and Potomac Rail:
road Company in this city has progressed
SO far with its work that it is expected that
trains will pass over it early In the ensuing
year. .i@'I +&
As authorized by the charter of the Con-
nection Company, the Richmond, Frede.
ricksburg and Potomac Railroad Company
and this company have united in lease OF
the property and franchises Of the Connec'
ton Company; the Richmond, Fredericks-
burg and Potomac Railroad Company to
maintain separate the connecting road on
terms set forth in the lease; that COM
pany and this to guarantee to the stock
holders of the Connection Company annual
rent until the two roads, or either ofthem,
shall purchase, at valuation, the right, title,
estate, and franchises of the Connection
Company, ss provided for In Its charter.
BY resolution Of the Boards of Directors II
was further understood, ~ between them,
that during the existence Of the lease the