The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-12-12
Meeting of the stockhoIders Of the
Richmond and Danville Railroad

Meeting of the Stock holders Of the
Richmond and DanvIlae Railroad
Company.
The annual meeting Of the stockholders
of the Richmond and Danyille Railroad
Company was held in the ballroom of the
Exchange Hotel yesterday. Mr.. F. N
Watkins was called to the chair by Mr.. A.
S. Buford, who called the meeting to or.
der. Mr.. J. W. Blair acted as secretary
On motion, the following named gentle
men were appointed as Committee on
Proxies: W. w, Henry, DR.. E. A. Cole
man, and Colonel E. Barksdale, Jr.
The committee reported, after examina.
tion, that 1854 votes were required in
order to constitute q quorum, and that
number being present, the business could
be proceeded with. The number of votes
represented were: By proxies, 1883;
by stockholders in person, 742; State
proxies, 2,4O3. Total, 6,O0s.
The reading Of the report of the Presi-
dent and Directors was dispensed with,
and DR.. Atkinson moved its reference to a
select committee of nine; which motion
prevailed.
We give below synopsis of the
REPORTS OF THE PRESIDENT AND sUPER1N-
1ENDENT.
These reports show that the gross earn
ings for the year have been $639 1852 23, OF
which there has been applied to ordinary
separating expenses $3a9, ,45l.19, leaving
nett earnings for. the year $3.50, ,211 .O4.
Decrease of working expense, s2s,573.l2
decrease of nett earnings, $4,4S8.65. The
receipts from tonnage were 1899, 500 .93,
being an increase from this source OF
ssSS17, ,f28. .37--equivalen to ~ per cent.
Thesreceipts from passengers were $780,
Fs2S 81, being q decrease for the year OF
FSi4, 4,130.S5-equivalent to about 62O per
cent.
sIn respect of the company's finances,
Eery important, and it is deemed very be-
|1efcial, arrangements have been effected
Turing the year, which are expected to be
of invaluable aid in relieving the embar-
rassments found on the Reorganization in
1865.
8 The number of private passengers car
sried is 1851, against 62,696 the previous
syear. The decrease Of receipts from this
source is due to the diminution Of Govern
ment passengers carried this year, and the
sreduction of the rate of passenger fare. If
the present passenger rates are maintained
it is expected thai the income from this
source will be gradually improved during
the ensuing year. The adjustment of pro-
jected arrangements with connecting lines
north and south Of us may materially in
crease it. grr,l s.sgsE
About eleven and q. half miles of new
rail have been laid during the year, most
of it between Mattoax and TomahaWk sta
tions, and much of the worn-out rail re-
placed with the best of the old material
taken up. The entire line to Greensboro
is in better condition than at any previous
period of the company's existence-up to
a fair average standard Of repair, which
will relieve the necessity in future Of so
large an expenditure in repairs as has for
two years past been indispensable to the
safe and economical operation of the line.
New depot buildings have been erected at
Meherrin, Chula, and Powhatan, which re-
places all south Of Richmond destroyed
during the war. Permanent tracks and
platforms have been. built on the new de-
pot lot in Richmond, and temporary sheds
erecte.: to facilitate the handling Of Rich
mond freights until such time as the CON-
pany shall think proper to commence the
ere4,on Of the permanent depot building.
The movement Of tonnage has increased
during the year nearly 20 per cent, in
most respects fully meeting expectations
from this source. In the item of wheat
alone a heavy deficit Of the usual ante
war business has occurred. Owing to the
failure of this crop to large extent in
Southside Virginia and North Carolina
not more than one-third Of what was rea-
sonably expected has been transported,
and not one-sixth of the quantity carried
in 1860. A large part of that produced
in surplus, which would otherwise have
sought it's market in Richmond, has
been retained for home supply, to fill the
vacuum produced by the unexampled fail
ure of 1866 in this important product.
We may reasonably hope for some i'm
proved results in this respect for another
year. The tobacco crop has been fair,
and the tonnage which it affords is likely
to be fully maintained, as is also the usual
mercantile and miscellaneous tonnage, If
political agitations do not further derange
our industry, and thereby produce COM
mercial distress and disaster.
Under the recently consolidated man
agement of the roads from Norfolk to
Bristol we should, and it is expected will,
be able to recover the travel between
Richmond and the southwest viG Burke
vile and Lynchburg, which, since the
war, has been almost totally lost to this
company without any default Of effort or
offered facilities on its part.
The reconstruction of the Richmond
and York River railroad was commenced
last year, and was opened to the White
House, twenty -four miles from Richmond,
during the past summer. 1t is understood
that the want of available. means has pre-.
vented its further progress up to this Pc
riod. Its completion to West Point,
thirty eight miles from Richmond, would
render it, in connection with city track
uniting both lines, of valuesto the interests
of this company. 1t has been rebuilt on a
gauge conforming to that of this road, and
with q view to its operation in connection
with this line. The connection by con-.
tinuous track through Richmond has been
authorized by the city authorities. The
Board have authorized the construction OF
this connection, to be completed as soon as
the Richmond and York River railroad is
completed to West Point. This, of course,
is contingent on the ability of the Rich
mond and York River Company to pro-
gress with it's work. If both can be eff
fected within reasonable time, enough is
known to Justify the belief that in q COM
paratively short time this line can be made
tho central and leading carrier of the At
lantic States between New York and New
Orleans, and independent of corporate
combinations that now dwarf its business
and deplete it's income. In view of the
whole matter, it is recommended that the
stockholders confer upon the management
of the company ample authority, in their
discretion, to establish with the Richmond
and Xosl.: Rirar Gnmnanu such huSinesS