The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1869-12-09
Richmond and DanVille Railroad.
ANNUAL MEETING AND REPORTS.

Richmond and DanVille Railroad. =
ANNUAL MEETING AND REPORTS.
The annual meeting of the Richmoid'and
Danvllle Railroad Company was held in the
| concert hall of the Exchange Hotel vester-
day.
The meeting was called to order by Presi-
dent Bllford, on whose motion F. n. Wat
kins, ESD, of Prince Edward, was called to
the chlir.
Messrs. Elisha Barksdale, William B.
lsaacs, and B. Fl. Nash, were appointed
committee on proxies and representation.
The committee reported that the stock
holders may cast 6,S73 votes, of which ma
jority is 3,437, which entities the State of
! Virginia to twO-thirds-2, 300 votes. Neces-
| sary for quorum. ,72T votes. There are
persons present voting, SAL represented
| by proxies, 1,761 State vote, 1,535-total,
1881. Less than necessary for quorum,
| 1880.
The Chair announced the deficiency in the
number Of shares represented whereupon,
on motion Of Mr.. Bouldin, Of Charlotte,
the meeting adjourned. until such time as
the President, according to law, may indi-,
cate. i,i1S
ANNUAL REPORT.
The annual report of the President was
not read. but laid on the table for the use
of stockholders. 1t contains an interest
ing statement Of the condition. and ope-
rations Of the company during the past
year.
The results of the year and the present
condition of the company, financial and
operative, will be seen in detail in the usual
reports Of the subordinate officers. In con-
venient summary they exhibit as follows
Gross earnings for the year from all
Total Working expenses for the year SSssss ss
Total earnings over working expenses =
for the year.. s257. .06s IS
Being q working expense at the rate of
1872 per cent. and net earning at the rate
Of 42.18 per cent. .,s,
Comparison with last year
Gross earnings. s57i.oso i.o 80 5000 '4o2 50
Total working cxpcnse...... s54.s29 co 35o s33 25
Total earnings over working
cApeDsc......- ......... S2le,obo ~ S-oi,oos CO
e.. r.
Ratio OF working cI-
pensc ............... 6l.s per ct. s7s2 per ct.
Ratio OF net earnings.. 49, per CT az. per CT.
receipts of. ... S35 ssa IL
Increase Of net receipts. s7,s78 i5
ptnsc. ................ 2,5e5 ii
IncTetse VI rate Oi Hct
Decrease OF rate oiwork-
ing expense. .............. 395 perct.
1t will be seen from the tonnage tables
| that the number Of gross tons carried du-
ring the year has increased 1854, or about
twelve per cent, while the number of tons
carried one mile has increased only about
| two per cent. over last year. This is due in
| part to the fact that the increase in gross
| tons carried is drawn chiefly from coal and
lumber hauled short distances, and in part
| to the gradual growth of the business with
| Southwest Virginia, which passes over but
| little more than one-fOurth Of the line. 1t
will also be seen that the average rate re-
| ceivcd per ton per mile is less than that Of
last yeag, Which is explained chiefly by the
facts already stated-the increase Of bulk
! being principally in the coarser. and lower
priced articles Of produce drawn from the
farms, forests, and miEes; the increased
production Of which it is indispensable, as
country, to favor and encourage rs far as
| practicable. DIS r...s.
IMPORTANT CoESECTIoES.
Two connections with the eastern terrni-
nus of the line are mentioned as important
to the future prosperity OF the company !;
| one with the Richmond and York River
railroad iii this city, which has been hereto
fore approved and authorized by the stock
holders, and engagements entered into for
| its construction by this company. Circum-
stances connected with the right Of way,
| first from the city and since with indiri-
duals, have delayed its commencement.
| These have been for the most part removed,
and ii is expected that within few months
The work can be completed. This, especially
| IL connection with proposed and probable
| n VII al "a nj
| River road as far east as the mouth Of the
RappahannOck, on the Chesapeake bay,
is deemed of material value to your
business, and entitled to the cordial
sympathy Of this company. The other con-
nection referred to is that with the Rich
mond, Fredericksburg and Potomac rail
road, especially with reference to the con-
venient transit of through travel, Of which
this line is becoming, and destined to be-
come, an important carrier. Some negotla-
| tions to effect this have been already had
| between the companies interested, but not
yet resulting in anything final. 1t is hoped,
| however. that the obstacles which have
| hitherto prevented the accomplishment Of
| the objects desired by both companies will
| be removed at an early day, and our city,
| State, and corporations, will be allowed to
f! realize the important advantages to be Sc
| cured only by facilitating transportation to
ana through our community.
The connection of the Keysyille extension
of the Roanoke Valley railroad to Clarks-
vile still engages the anxious interest of
| the local communities in its vicinity, who
naturally look to your line rs the means of
communication with their legitimate and
desired market in this city. Some engage
ments were made some months since for
it's construction by private parties. Whether
this can be elected is not known. In any
event the authority conferred on the PreSi-
dent and Directors at the last meeting Is
deemed amply sufficient to meet any desired
connection on the part of this company with
that work.
THE PIEDMONT RAILROAD.
The Piedmont railroad is still operated,
as heretofore reported, under lease to this
company. It's condition is creditable and
improving, as will be seen from the accom-
panying reports. Some of the temporary
structures originally made are necessarily
being replaced by permanent work. 4
short section Of the road near the State line
was constructed on high grade to obviate
stone cutting, not then practicable, and with
O view to permanent location on lower
grade whenever the business of the line re-
Quired the substitution. This necessity has
not vet arrived. Reference is made to the
subject by the Examining Committee. The
Importance Of this connection, not only to
your company but also to the general
public Of the two States, as well
as remoter sections, is beginning to
excite the attention and interest which the
Piedmont line, as an avenue of commerce
and travel, is entitled to command. More
equitable and unrestrained relations with
connecting roads at Greensboro, and south
of it, are essential to the prosperity Of this
company as well as that of the Piedmont
road, and Of large agricultural and COM
mercial populations in Virginia, North