The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1869-11-18

RICHMOND, FREDERICKSBURG AND L OTOMAC
RAILROAD CoMPASY-ANSUAL MEETING OF
>ToCKHoLDERs.-The annual meeting of the
stockholders of the Richmond, Frcdericks-
burg and Potomac Railroad Company was
held Yesterday at the office of the company.
Ir. ". II. HaXall occupied the chair, and
MI j. 3. Winston acted rs secretary.
The Chair appointed Messrs. Fl. \. Clai-
borne, j. N. Robinson, and J. K. Baylor, a
committee TO ascertain the amount of stock
present. They reported quorum $3.50
III attendance.
The annual report Of the Board of Direc-
tors was read by the President. 1t is shown
by this document that the income of the
| company during the year ending seth Sep
| tember, 1869, was from transportation $780,
9062I, and from rents of real estate 81 1913,
or, in the aggregate, 1882 ,025.42, being
| So, 2992G more than the income of the pre-
| ceding year. The current ordinary cX-
pcnscs were exclusive Of permanent im-
provemcnts and additions TO its property
SIG. 422 X. or only 81 1874 more than they
were during the preceding year. and 30 per
per cent. OF the income Of this year, and
| showing decrease in the ratio Of expenses
| 10 gross income of per cent. Even this
| amount Of current ordinary expenses of the
year includes Il donation Of 81 300 to the
Randolph Macon College, ut Ashland, for
| the rclittin@ OF its buildings there, and two
judgments recovered against the company
| in the United States circuit court and in the
circuit court Of Richmond, amounting to
| - ,594.23. This item also includes the cost
| Of all the iron spikes and chains purchased
| and used during the year. While the same
| item was reduced iii the last year accounts
| by transferring from the ordinary 10 the eX-
| traordlnarv expenses OF that year the sum
| Of sc, S6l.SI expended for the same purpose.
pti in ha t,,-n ni
| rs they should property be deducted, from
the current ordinary expenses of this
year, reduces their current amount to
Si72, 329.2i, or = ,905.4J less than last year,
md less than y per cent. of the gross in
come Of the year. THUS the income OF the
company has been increased to the extent
of nearly l. per cent, with decrease of the
current expenses Of more than X per
cent. mainly due to the good condition in
which the property has been maintained
Il fact highly creditahle to the officers and
employees Of the company having It III
charge.
The sum Of so. 80 has been expended
in rebuilding two excellent and permanent
bridges over the South Anna and Little
rivers, III place Of the temporary trestle-
work erected after the war. There now re-
main but two small permanent bridges
along the whole line Of the road to COM
p.etc the substitution Of the most subStan-
lial bridges for temporary structures.
\ tribute is here paid to the skill, vigi-
lance, and efficiency of the engineer and SUI
| pcrintendent of roadway, bridges, and cars,
| by whom these improvements have been
| planned.
AS 4 means of fortifvine the company
| against forced and unnatural competition
| by improving the steamboat service on the
upper Potomac, &c, the report remarks
| that ii will probably be eXpedient next
| spring that the steamboat tfanSportion OF
| this route on the Potomac should be re-
>umed by the Potomac Steamboat Com
| pany, the franchises and resources of which
| company afford facilities for these purposes
not attainable under existing arrangements
| for performing the steamboat service by
! contract.
| The report contains also some extended
remarks upon the finances of the company,
and of the effect of the present political
| status upon southern railroads. Mention
| is also made Of the decease OF GuStavlls \.
| Myers, Esq, an efficient director of the
company, and of the temporary filling OF
| the vacancy for the uneXpired term by John
NJ. Robinson, Esq. Testimony is borne, in
conclusion, to the fidelity and efficiency OF
| the officers and employees Of the company
having charge Of its property and opera
| tons, and to the promptncss, skill, and &C
c;iracy, with which the books and accounts
of the company have been kept by the
treasurer, auditor, and their clerks.
After the reading Of the report Mr.. Z. Y.
Cannon moved an adjournment of the meet
inc, as the state proxies were not present.
This motion was lost, and on motion Of Mr.
II. a. Claiborne the report was adopted.
| The following resolutions were adopted
on the recommendation Of the Board of Di-
rectorS
! 81. Resolced, That the President and
Treasurer be, and they are hereby, atltho-
rized and instructed TO take, in behalf OF
the company. its quota Of the bonds or obi
cations which the Potomac Steamboat Com
pany may deem ii advisable to issue for the
resumption of its line on the Potomac.
80. Resolved, That the President and Di.
rectors be, and they are hereby, authorized
and instructed to make such arrangements
as they may deem advisable with the Poto-
mac Steamboat Company, or some other
steamboat company or association, for run
ming line of steamboats, on the lower Pc.
tomsc between Aqua creek and Balti-
| more
The order of General Candy postponine
the election of officers and directors was
read, and ordered to be recorded; after
which the meeting adjourned.