The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1866-11-22

MEETING OF THE STOCKHOLDERS or rHE. RioH-
Nuypt FRYpERicHsBURa, AND POTOMAC KALI
Rolp,-The annual meeting Of the stockholders
Of the Richmond, Fredericksburg, and Poto-
mac railroad was held Yesterday morning 10 MaSth =,
and Broad streets The following Officers were
ana Mears. a. A. Myers, 3. W Haxall,
Charles 8 M. and Eilan aaaI Snaneey, y,shasS d,rsS-
sr1. Mr.. Andrew Johnston was announced
as director on the part Of the Commonwealth.
The following gentlemen were unanimously
elected to constitute the Committee Of Exnmi.
meeting of stockholdsrs in 1887: DR.. Thomas
b. Anderson, John r. Baylor, j. Hunter, O.
+. M. Garnett, and John A. Robinson.
The annual report Of Mr.. p. Y. Daniel, Jr.,
president of the company, shows that the ope.
rations of the road the past year have been
unusually profitable; exceeding In amount,
indeed, the results Of any year previous to the
war.
last the gross receipts OF the company for
from rents, 81, ,ol5.s5. This exceeds by the
sum of SlO4 227 .04, or nearly thirty five per
cent. the greatest income ever received during
any year previous to the war, and by over
fifty! three per cent the average Income OF 'ne
The current ordinary expenses for the year
were 500 9a9 75 or nearly fifty seven per cent.
Of the gross earnings, and near twelve per cent.
in excess of the average proportion which the
like annual expenses bore to the gross annual
receipts of the five years ending 3oth Septem-
Der, 1850. The causes Of this excess are 1uily
explained In the heavy outlay for re-openlng
and repairing the road after the devastations
of the war-the restoring machinery, rolling
stock, &c.-and the heavy tax imposed by the
United States Government upon the grossre'
ceipts Of the company.
Deducting the ordinary expenses from the
gross receipts, there would remain In the trea-
sury Sl73 1913 SO, OF more than fifteen per cent.
of the aggregate capital stock of the company
or deducting the current interest on fundeo
debts and guaranteed dividends, amounting 10
S47 2l5 81, and IS, 900 interest on the temporary
1T of Slls,577.sl, or over 1l.S-l0 per cent. on
the unguaranteed stock, applicable TO olVl-
dends and sinking fund.
But from this balance Of earnings the com
pany has found Ii necessary the past year 10
appiy the sum of S1Go, ,1os. AZ to "extraordi-
nary expenses" consisting OF rebuilding near
ly all the station-houses or depots along. the
road, new and permanent bridges over the
Rappahannock river, Potomac run, and AGO
keek run, and the extensive wharyes Mt Aqua
creek This is, indeed, q heavy "extraordinary
EXPENSE" and not likely, or any part OF II, 10
be incurred again for many years.
Deductng this sum for extraordinary e1-
penses, there remains of the years earnings
only SlS,577.S1 for the purpose OF dlviuenas.
Bpt this is an extraordinary result 1T time
like the present. The paying of all demands
in interest and ordinary expenses, ana, besides,
this enormous extraordinary outlay for WORKS
destroyed by the war--all out OF the earnings
of the road-is result highly creoitaple W
the management of the Richmond and Frede.
ricksburg road, and shows 1t to be in most
fiourshing condition.
The president alludes to the connections now
in progress in Richmond and petersburg,
which will give to the passenger comfortaolo
transit through these cities, to the very great
adyanta tage of the route Uia Richmond. An ar.
rangement has been entered into between the
Richmond and Fredericksburg Company ano
the Connection Company in hlchmonu DJ
which the former leases the road built by the
latter for a period of ten years-and thereaf-
ter until it shall purchase at valuation the
said connecting railroad-payng therefor o o
guaranteed amount of rent annually y, ana Col.
lecting the tolls and fares authorized py III, .he
charter of the Connection Company. ihe
company is asked to approve the agreement.
The president alludes to the road in process
of construction between the Richmond ano
Fredericksburg road (at point near POTOMAC
runl and Alexandria He expresses nlucn
interest in its construction, and declares the
policy of the Richmond and FREDERICKSBURG
Company 10 be to aid it in every way ICON
sistent with their interest
The report states that the debt which Will
have accrued between May, 1881, ana Janu,
ary, 1867, inclusive, consisting OF interest," alu
guai nteed dividends, amounts 10 s2lo,ofl'1s , =.
Mr. Daniel advises that this amount shall OF
funded under law passed by the last Legis'
lature since 1t is manifest that II these at
rears are to be paid out of the net earnings o.
the company they would absorb those earn
ings, postpone for another year the interest,"
on the funded debt, and deprive stocKnoiuers
for a least another year Of any revenue IRON
their stock. Assuming that these arrears VII
be so funded, the report, taking the gross In
~ nr11nr
than it is this, estimates that the earnings OF
the road will cover all demands upon 1t, and
show balance of 81, ,7O3.l9, or over seren pei
cent upon the aggregate stock OF the company
With regard TO dividends which accrued
during the war and were not called Tor, the
president contends the company is under no
obligation to pay them to such stockholders
as were within the military lines and control
Of the Confederacy, and could readily MAKE
application for their dividends, as they were
invited to do by advertisements in the news.
papers. The company warned them that II
they did not call for their dividends, then pay
able in Confederate money, that any loss OF
depreciation that might occur must pe sus,
tanned by said stockholders. These unclaimed
dividends having been lost ut the close OF the
war, and being included in the destruction OF
nearly 800, 900 Of Confederate currency be-
longing to the company, Mr. Danlei considers
that the stockholders in whose name they
stand have no claim upon the company, and
ing them.
dividends held by persons who had no means
of collecting them, being beyond the Confede.
rate lines, and knowing little or nothing abou,
the proceedings of the company or the value
Of their claim. These he urges the company
TO pay upon a fair and equitable basis by re-
dueing the value of the dividends when de-
clared in Confederate money TO gold, and pay
ing the amount thus ascertained.
In conclusion, the report declares that tne
condition of the machinery and equipment
of the road (much of which is new was never
better, and pays compliment TO the oihcers
and agents Of the company for their industry
efficiency, and fidelity.
1t is gratifying. to find the Richmond and
Fredericksburg road SO prosperous. TO nave
recovered from its ruined and prostrate cohai
dition, and done better business than at any
former period, Notwithstanding the active
competition which has been carried on agains,
it by sea and land, and notwithstanding tht
large decrease in the transportation OF pro
duce, owing to the paralyZed condition OF agri
culture the past year, is surprising result
and Of course mainly due TO the active anc
sagacious management with which It's opera
tions have been conducted.
THE LATE NEGRO SHOOTING AFFRAY.-fes
terday Thornton Holmes, the negro who u
charged with killing Rev. Jacob James, pas
tor of the Second (colored) Baptist church, wa
permitted to go up to see his wife, on Clay
street, to find ont the names of two Negro
women who Were in the house at the time O
the shooting, and who he wished as witnesses
When he saw his wife (Mary Holmes) she re
fused to speak to him, and pulled the bee
clothes over her head With his manaclet
hands he pulled down the covering and shool
her by the hand. She refused to say anything
to him, and declared that she was only ar
ranging her hair when she was shot, and tina
the Rev. Jacob James was only lying on tn
lounge.