Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1868-11-27
NIGHT SESSION.


Pursuant to adjournment, the stockholders
re,assembled at I o'clock, last night, at Liberty
Hall, when the Committee on Proxies reported
that of the stock vote of the company, l3, ,9O7
there were present by proxy, 10, ,l00-largely
over minority.
MIR. Barbour, President of the company, ther
presented and read the following report;
Report Of the President.
10 the Stockholders of the Orange, Aleranclio
and Manassas Railroad Company:
In communicating the annual report OF
the part of the Board Of Directors of the
State of the company, and its operation:
for the fiscal year which closed on the 30th o
September last, it is proper to remark that tht
principal relations involved and subjects to be
brought to your consideration are those con
nected with the financial and transportation de
partments. Under one or the other OF these
divisions will be presented all the statements
required to.exhibit full and correct exposition
of the affairs of the company and condition ol
the road during the past year.
According to the theory OF your organization
the financial department is subdivided between
the Office of treasurer, and auditor OF accounts
respectively, and the management of the road
H.,
Ing trade of the line, placed under the lmme-
date supervision of the General Superlnteu'
dent From the heads of these departments
respectively special report of the business OF
their offices for the last year IS submitted to the
President of the company, and herewith COM
muucated marked A, B, T., to which your at
teLtion is respectfully invited. For the pur-
poses OF the present report, 1t Is not deemed ne
CeSSary or proper to go over ln detail the same
ground, or to do more than present general
summary ofyour affairs accompanied with an ex-
planation of the policy which has been pursued
by the Directors during their administration oi
the past year.
The revenue of the company is properly that
sum which is derived from the earnings OF trans
portation, and does not therefore regularly en-
brace receipts collected from any other source.
This fund is primarily received by the agents
Of the transportation department. deposited
with the treasurer, and an account OF the same
duly audited by the accounting officer: From
the exhibits herewith furnished, 1t will De seen
that the receipts from October LIST, 1867, &c
September 80, 1868, inclusive, derived IRON
the transportation OF passengers, malls, lrelgh'
and other sources, make an aggregate sum Of
sS27, ,727 SO, of which $3SS,066, has been re-
celVed from passenger fares, S3I2,99O from
transportation of freight, $33, 9lS from trans
pOrtatlon of express matter, $2O, S92 tor car
rying mails, and $l1, 500 collected from tee-
graph and other sources. The expense account
and cost of working the road and keeping 1t II
repair, including repair OF machinery Tor same
period, amounts to the sum OF S547, lIO5i
leaving as a balance otnett revenue In this con-
nectiOn the sum of $279, ,957.52. The account
shows an increase of receipts over the returns oil
t6eyear preceding Of $l2l, ,485.72. The amount
Cf receipts derived from passengers has been re
duced to q considerable extent by the withdrawal
OtOne train of the double daily passenger line be
tween Washington and Chattanooga IN January
last and the adoption at same date OF schedule
Wfunnlng hours by the companies IN interest
which tailed to meet the requirements ana con
Yenence of the travelling public, and tor whlct
Tue officials OF this company were not reSpOnsl
Ole. The effect Of this error of policy Is clearly
seen by an examination OF the returns for sey
sfal months succeeding the change OF schedule
referred to, and indeed continued to operat
rsOme time after the evil had been corrected
and until notice of the fact could be commun
ated and confidence in the line OF travel re-eS
aolshed. The opening of the Manassas branci
% Mount Jackson where the valuable trade o
Me Valley is first reached, was delayed by tn
u1isv0rabe weather OF last spring uhtl TN
middle OF August, and the exhibit consequent!
g1ly shows the receipts from that point Tor tn
short Intervening space from that time to tn
arSt Of October. 1t is fair to presume but 10
.qese untoward circumstances the receipts o
me Tse road would have been much Increased, :
tae same causes which have operated to eurtal
receipts have at the same time had the effect
sularge the ratio OF expenses oreVenue, as IN
kho nd r1D
usa TO be incurred whether the business wa
afled or not. In view, therefore, OF tn
s acts cited, and of the depressed condition @
sOe @e agricultural interest and the short whea
sSups upon the main line, the returns sho,
'Orable results and present reliable basl
VI calculation of increased profits herealte
s:nen the obstructing causes OF prosperity men
"O0ed have been removed.
- q TRANSPORTATION DEPARTMENT.
1 ,.ai iae special report OF the General Superir
i "uuent, II az Vandeorift eSn heTeWIt