Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1867-09-10
fHq H2t1----T-- l00a
Annual Report Of tse o.,e,ationa
Of tho Memphis and Charles
ton Railroad.
Gross Receipts, $l,66l. 612 AL
Expenses, S1,ll4, s54 OF
n Harninss. ss47, 2s7 4e.
Condition OF the Road-Futuro
Prospeots--An Interesting
.,r. Exhibit. rn

phlet OF the Thirteenth Annual Report
Of the President and Board of Directors
to the Stockholders of the Memphis and
Charleston Railroad" exhibiting the
operations and earnings Of the enterprise
for the year ending the FIRST Of July last
From the pamphlet We make such ex'
tracts as will be of interest to the general
public The total receipts Of the road
from tAe conveyance of passengers,
freight, mails and express during the
year foot up Sl,66l ,6l2 4S; while the
aggregate expenditures for conducting
transportation, motive power, mainte.
nance of way and rolling stock during
the same period foots up $l,ll4,354 81;
showing the net earnings of the
road for the past twelve months to
have been S547, 257 46. The report, how.
ever, exhibits an outlay for extraordinary
purposes, construction Of bridges,
trestles, etc, of S4,O75, G97 CT, which be-
ing deducted from the net earnings, leaves
balance Of S7l ,489 Co. Upon pre-
senting the above, the president, Col
Tate, says that while it ia not such a
report as the Board had hoped at the be.
ginning of the year to be able to make at
its close, yet, when we consider the ex-
traordinary difficulties and casualties
with which the road has had TO contend,
it is source of great satisfaction to
know that under such adverse fortunes
it should be able to sustain its credit and
pay its Notwithstanding every ex-
pense, both ordinary and extraordinary,
as they matured-oontinually adding
largely to the value of your property in
permanent works and equipment-pay-
ing promptly the interest due to the
State of Tennessee-also providing for
the payment Of the past due coupons on
your first mortgage bonds, which are now
being paid in New York" Among the
extraordinary circumstances tending to
cripple the business Of the road during
the year, Col. Tate enumerates the visit
of the cholera to Memphis and Nashville
during August, September and October,
which tended to divert travel into
other channels; the general failure
of crops along the line of
the road during the fall; the
serious foods alougthe western division,
by which much of the track was over
flowed, bridges destroyed, accidents and
detontions occasioned to trains, and
general interruption of business for
upward of forty days, by which through
freights were thrown upon other routes,
and last, though not least, the impasss-
BILE condition of the streets Of Memphis
during the rainy season, rendering trans
portation impracticable and causing the
accumulation of freight in large quanti-
ties and great damage thereto.
A concluding allusion is also made to
the political condition of the South as
having had tendency TO destroy all
confidence and give alarm to business
men and capitalists to such an extent
that the trade of the country had become
Frustrated, paralyzed and reduced to the
actual wants of life. Notwithstanding
all these interruptions and difficulties,
however, which are mentioned as a
combination which can scarcely occur
again" the report shows the net receipts
of the road to have been sufficient to pay
interest on all the bonded debt Of the
company and the debt due the State,
and then leayea net profit of S379, 634 81,
an over sevenper cent. on the entire capt
tai stock of the company. The report
further shows the floating debt of the
road to have been reduced S540,j27 05,
and the funded debt to have been in
creased $240,540 90, and the finances
of the company to be in a very satisiac-
tory and healthy condition generally.
The actual cost of the road and its
equipment up to date is shown by the
thirteenth report to have been S7,286,- |
1856 GO, for the expenditure of which the |
company is shown to possess the follow
ing property, viz; .F
Two hundred and ninety miles first
class railroad, 20 miles side track,
spendidly equipped and permanently
built machine shops at Memphis and
Huntsville, 80 depot buildings, engine
houses, 81 division houses, 50 locomo-
tives, % first class passenger cars, II
second class and mail cars, baggage
cars 269 box freight cars, III platform
freight cars, l wreckiDg car So road and
hand cars, 2240 acres woodland, hotel
building, at Huntsville, 20 water stations
in good order-7 fountain, steam,
horse power, hand, steam saw mill,
200 town lots in Huntsville, 30 lots in
the city of Memphis-not included in
depot grounds, IL acres depot grounds,
in the heart of the city Of Memphis,
with ample depot grounds at all other
stations, and right of way throuhout the
entire length Of road. .r
OF the future Of tho road, Col Tate
speaks in the most hopeful language. Ho
says: 1.-THE now excellent prospect for 8
crop on the line Of the road gives very
assurance Of heavy and
profitable business this fall, and the
Board see no reason to doubt that cash
dividend will be paid to the stockholders
by the first of January next, with every