The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1868-04-21
CHARLOTTE AND SOUTH CAROIIUA RAILROAD COMPANY
@~ PRESIDENTS REPORT *

To Stockholders Of the Charlotte and South Carolina aood Conn
the 31st of December 1867: -, +.
The earnings for the year from transportation amount
While the expenses paid during the period amount
Leaving this balance s4s3oo A
Which has been applied to payments bills payable
and other purposes will appear the easurers Report
In addition to the ordinary expenses year. large
amount OF the income necessary the improvement
of property large portion the track of your road
besides much other valuable property Company
stroyed by the This only partially restored MAY 1866
when the first train through to Columbia and
was accomplished under embalrassmnts and with delay
to From the earnings since these have
been provided for and expenditures the restoration
shops machinery engines &C. relatively large pro-
portion of expenditure to income.
The to leave all the property not DESTROYED
deterioated condition. estimate of your Supernten
dent that $4,000 applied to extraordinary expenditure on
this account moderate AS the kept
expenses PAID IN the charged and addition
extraordinary charges mentioned from Of onfe
rate claims included But which had to be
met the nett income would have exceeded $1OOOO0-whch
would have been sufficient due and nav three 70
four per centum of dividends to the stockholders
The entire bonded debt and same to January
1863 amounts to s366512 From this deduct paid
on account OF or provided Tor the maturing that
000eaves this debt $685. entire debt due y notes
and bills amounts to $16s2534 To the amount of
bonds above stated and have the aggregate
exceed $4,000 The above includes all liabilities
Company primarily responsible balance
Tennessee and Ohio Railroad Company asceraned upon
settlement of mutual accounts.
In view of the great Importance of the completion Coum
ba and Augusta Railroad and under your authority
the last annual meeting this Company has pledged
100000 of the first bonds of that road accepted
the amount of $90O00es S. 900 padand
about $4,000 in cash and materials furnished
y for these advances bonds and stokshe
Companyare held by Treasurer This completed
twentys miles, and tracklayng progressing of six
miles month, and with the cooperation
roads, expected to be finished Granteveseventy miles
from Coumbian September next and thereafter
to Augusta its entire length about miles
The bill fled by the South Carolina Railroad Company enon
its construction has been decided against complainant
highest Court of Appeals the State by Chan
celor before whom it was first argued
1t is believed that the completion important link in
great through line of trade travel express mail
stock and bonds among the securities of their class in the
South and that it will add 100000 of
receipts to road with production
Its position very commanding and the public
country have long demanded it's construction
capous opposition of the most powerful corporation
This very opposition is the highest proof public usefulness
and necessity to the citizens of Georgia Caronas
shortening the transit five hours will bring large route
from the South addition that which now
passes through Augusta.
The income of road from 1859 to 1861 ranged from 900