The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1867-05-08
Charlotte and South Carolina Railroad Company.
PRESIDENTS REPORT.

To the Stockholders the Charlotte Carolina
GENTLEMEN: The nineteenth
fiscal corporate existence The Reports
FORE embrace the operations of the twelve months preceding
date On the first of January 1866 the reconstruction the
had not reached Rdgeway The work however pressed
reasonable and closed about the first of May foown
SO that trains could through The entire cost of
besides very large expenditures which had
to be made upon that portion the destroyed and upon
the engines and cars to put them i'll proper
The receipts from transportation
Of this large proportion applied eay expenses
of which unusual restoring property it's proper
condition. the balance applied earnings
amount to nearly woh the average receipts the
With only portion of the operation during the
season OF the for reghts and large proportion of the receipts
paid for transportation with onehalf country the
entire line made desolate the previous by
seh aue OF the crops from Charlotte to Columbia, larger
income was not anticipated To these may
increased and cheaper transportation
Charlotte via Portsmouth York. which have diverted the
larger portion of the egs Carolina v that route
which formerly found their your through
With an average produced i'll North Carolina its
wheat -four other products will naturally find
their markets in the cotton regions
The funded debt of the Company reduced the first of
January 1862 to 1921 gradual of its bonds
During the 1862 1863 sum of s475OO of
this amount paid leaving debt $2735OO
january 1863 The interest accumulated upon bonds to
April l. 1867 with that the bonds redeemed to
65 less the interest from April to july
next This makes the entire amount of principal and interest of
bond debt $3628O765 the first April amount
soooo have been issued in redemption of past due bonds
ooupons also, S53OO15 i'll fractional bons leaving
$4,000 of past due bonds and coupons outstanding
The bills payable amount to s15ss16as April
1867 which, added to the bond debt 1862 SO765 make the
entire debts $62624O3 There now
existing between this Company Atlantic Tennessee and
Ohio and the Wilmington, Charlotte Railroad
Companies They however subject adjustment and
the results cannot now be given with accuracy
In order to complete passenger depot will be REQUIRED
IN each OF the cities of Columbia and Charlotte
building in the former for Offices Blackstoc
With superior iron bridge the Catawb new foundry
enlarged shops containing engine and machinery
the capacity for economical work than
Your shops equal to portion the South and
Tor their plan and construction
dent The credit for the style work
the Catawba Bridge due that accomplished Civil Engineer
Capt Shaer Smith, his scientific assistant Can't
Wrenshall
Experience has demonstrated the more permanent and
substantial railroads. with their appenances are constructed tho
greater the economy in their subsequent principle has
governed your Directors the reconstruction of
attention is invited to the reports Superintendent and
Treasurer for detailed material and financial
condition of the Company.
You are interested Ill the
see and ONO Railroad stakeholder bonholer When
rebuilt it is destined to contribute
OF your road With large of Indebtedness due for s
property it's stockholders to move in s rcn
sructlon for the want OF present with AS
Committee appointed by that Company
with your Company upon such terms agreed upo is
recommended that appoint Committee with full powers or
confer your Board the authority TO con1c h
negotiations to final results
Is gratifying to state that Notwithstanding embarrassed
financial condition of the conty the opposition to the
construction of the Columbia Road from one ooe
1T has steadily progressed Since your meeting the cities Of
Columbia and Augusta and the State Carolina have Ibe
rally lent their support to the construction important road
Its graduation and masonry from Columbia Granevie are