The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1868-02-18
RICHMOND CITY RAILWAY.
MEETING OF THE STOCKHOLDERS.
PRESIDENTS REPORT.


The second annual meeting of the
stockholders Of the Richmond City Rail-
way Company was held at the office of the
company yesterday.
Dr.. R.. S. J. PEBBLES was called to the
chair, and j. B. Watkins, Esq, appointed
secretary. One thousand three hundred
and ninety three shares-more than quo
rum-were found to be present after
which the stockholders proceeded to the
transaction of the regular business.
The Secretary read the report of Mr..
David N. Walker, the president OF the
company. This report contains the fol-
lowing statement Of the result of the first
years work:
The travel, at first very small, increased
gradually and rapidly until the month of
May, when an effort on the part of the ne
groes to ride in the cars resulted in several
disturbances, which had the effect Of seri-
ously diminishing the travel. General
Schofeld at this time advised the Board to
open portion of the cars to the public,
stating that he could not cooperate with
the officers in its management unless his
advice was followed. The Board concluded
to do SO, and accordingly opened several
of the cars to the public. This deferred
the whites from riding; and the negroes,
for whose especial accommodation the cars
were put on, did not ride in sufficient num-.
bers to pay for running one car. Since
these cars were put on, the average num-
Der of negroes riding per day would not
pay the hire Of tho conductor and driver
of a single car for one day. Notwith-
standing this very serious drawback, to OBJ
viate in a measure the difficulty, and to
increase the travel, two new cars with the
necessary number of horses were pur-
chased, the result proving satisfactory.
The company now owns eight cars and
forty-seven horses. They have lost no
horses during the year, Notwithstanding q
daily travel of from twenty to thirty miles.
In December the receipts had fallen off so
much that it was deemed judicious to cur
tail the daily expenses of the company I;
and to effect this, three cars were taken
off, twenty horses sent to winter, and a
number of employees discharged. It is
contemplated to replace these cars in the
month of March.
In order to make still further reduc-
tion, if possible, the Treasurer was directed
to proceed to Washington to examine into
the working of road at that place on
what is called the "box SYSTEM" dis
pensipg with conductors. If adopted, and
attended with the same success rs on the
road alluded to, it will be decided step
towards increased success.
The report Of the Treasurer shows the
total amount expended for the working Of
the road, including office, stable, road ex-
penses, and salaries, to be S2l, ,343.67.
Total receipts from cars, s25 ,S50.99. Show
ing balance of s4,507.32 in favor Of the
latter account. The bonded debt at the
last meeting amounted to $4,000. To re-
tire the floating debt, the Board authorized
further issue Of 100000. The assets are
ample to meet all Indebtedness.
No progress has been made towards
further extension Of the road except au-
thority to receive stock subscriptions from
property owners on the proposed route,
and q desire to extend the road to Holly
wood, should such subscription be made.
The Board thinks that this enterprise will
compare favorably with those of the same
size in other cities, and that ultimately,
with return of quiet and prosperity, the
road will prove a success.
The report and accompanying documents
was referred to committee consisting of
Colonel II. G. Cabell, /. Davenport, Jr.,
Thomas Branch, DR.. W. Il. Gwathmey,
and J. B. Watkins.
Mr.. D. N. Walker, the President, ten
dered his resignation; which was &C
cepted.
The meeting then adjourned to meet on
the 10Th of March next at IL NJ.