The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-04-08
enses.. 17s,sSb 81 145,4se 90
$105,s76 90 S1O8.7 .725 80
L =

$1O5, ,s76 93 $1O8. 725 so
Excess OF net income in 188s-69. So. .14S 80
The deficiency which will be observed in our
freights was partially anticipated and explained
at your last meeting as probable consequence
OF the extreme depression which was then
characterizing the agricultural interests OF the
country through which our ro i'd passes. It is
also to be accounted for, in some measure, by
the reductions OF our tariffs, which we're made
during the year, in the hope of extending and
increasing our business. Their failure to do
this can only be ascrlbed to the absence of
other elements equally necessary to the recupe-
ration OF these interests, which it was neither
IN our power or province to supply, and hence
the very limited requirements for the facilities
we were prepared to extend. In a word, the
country both contiguous to, and remote from
our line has not afforded us business propor-
tlonate 10 our capacities. The evidence of this
appears in the fact that during the past wear
we should have trans ported but 1s, egg bales
year, and S. 4O1 bales in 1850. We We are a'U not
however, to suppose that this state of things
is 70 become permanent, or that the i'm
psovement which is perceptible in other
be reasea is'e IN those noa Of wnioS s1nsioSsuag o
road is the natural outlet. It may be grad
nal alid even slower than elsewhere. but al
rs ready We are IS seeing some gratifying evidences
ana through travel are concerned. we have
given ample accommodations to both, without
deriving adequate returns from either. In
view OF the general prostration above alluded
10, our local population could not be expected
10 move with the frequency, and in the numbers
winch 1t formerly did. Experience shows that
these depend less upon the single item Of fare
tnan upon an expansion of it's wants with the
means OF satisfying them, and meeting the in
cldental expenses connected with q departure
from home. Until, therefore, our people be-
come weaithier, these movements will necessa-
aay ~ pc restacted ed to the more pressing demands
OF business, With this view, however, of en-
couraRnE them as tar as possible. we have
adoptod the practice Of issuing Communication
tickets % a.. anr way stations. ent,tlin9 their
purchaser to specific amount Of characterization
at one half our regular rates. That our through
travel should not have increased will occasion
no surprise, in consequence Of the delayed re-
construction OF tine Savannah and Charleston
Hoad.. Ihc break which it has pres )nted in
the otherwise continuous Atlantic Coast Line Of
Portlands Me-, has, unquestionably, turned
from us, and from our city, o large proportion
OF the travel constantly passing between these
" Our operating expenses have been brought
to that point beyond which they could not be
further reduced, without detrimont to the
company's interest, and the serious deteriora-
tion OF its properly. rigid economy should,
extreme which proyoEes accident and loss OF
property. 1t would become unwise and even
criminal. certain expenditure is unavoida-
ble- the roadway and rolling. stock, iron.
O.r~TS.S
same attention aud repair, whether or not our
trains carry their full complement Of freight,
OF one instead OF one hundred passengers. Il
1s true more extended service would some
what swell our OK oeDses, but the ratio OF our
profits therefrom would be greatly increased.
From the foregoing review Of our receipts and
expenditures, the. inference would seem cor
rect. that they have tou he'd their lowest
level. and II. since the close Of the war, they
have yielded q net income equal to the annual
interest Of the company. ON it's various classes
Of indebtedness, amounting to some $50, 600,
there is reasonable certainty Of their
doing 60 in future. The prospect of
entirely dependent upon tho general improve
ment OF the country, and especially the con-
structj0n OF new liues or feeders to extend the
sphere OF our operations, that any antIclpa.-
tons we might express upon thispoint would
be too problematicai to have any value. At
present we can only deal with the facts and
probabilities looking to that result. By the
recent Gction Of our Legislature, all the OBJ
etacles to The reconstruction Of the Savannah
Road have been. removed, and weare now as
sured Of tho determination OF the com .jany in
charge OF it TO restore, at the earliest possible
date, the valuable connections which itSfOr-