The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-02-06

Mails. Observation-Disclosures. O.575 UU
Other sources. S.................... l,9o4 IL
Total observation-disclosures. .Sl'|0fi'oA Oh
As compared with 1867, the difference ls 10
favor OF that year; but to so tlihIns an ex;ent,
as hardly 10 deserve further notice ana tue
genera! explanation already furnished Will,
doubtless, be abundantly sufficient to satisfy
tho stockholders that the business OF the road
has not suffered except from temporary eau
SEES and that these causes have affected the
same investments elsewhere in lar greater
degree, o glance at tue reports Tor 1868,
now before us, OF three OF the PrlbclpSi
roads Soath, will afford most convincing PROOF.
Promising that on this road the falling OIL Is
s21, OLA 81, or 60-1O0 per cent, we ind In the
instances above referred to-:
In one case falling off OF s1S2,41S, or II
In another FILLING off of s4SG,G9S, or 20
20 160 per cent. .o,, ooc
Aud IN the third falling off of s212,226 or
10 $500 per cent. ,,,,
The same general cause in all these instances
is clearly traceable in the effects which we
have exhibited. Nor would it be proper TO
omit to state in this connection that for a con-
siderable portion Of the year, our tarlfs 10
some of our best points West have been by
competition lowered to figures unknown even
before the war.
The operating expenses are stated at S697,-
AT 40, and as compared with 1867, the differ
ence is insienifcant-ln amount, s4fol. 10
tbe most economical administration possible
of the departments under this head, the most
unremitted attention has been paid. Inc force
in every branch of the service has been reduc-
ed to the lowest amount consistent Win lusC
regard to the safety of persons aud property,
aud salaries and wages to figures which,
80 1ar as our information goes, are lower tEan
are pai bv companies even Of lnferier lmpor-
tance. or this fact, Inc most unQusstlonable
confirmation is found again in the tables OF the
transportation department. There 1t Will De
seeu that whilst the mileage oil the trans uur,
ing the past year exceeds that OF 1901, 14o ooV
miles. or "a per cent, and the tonnage moved
in 1868 exceeds that of 1867, 81, SO7 tons, or
about % per cent, the eypelaes OF the two
wears differ only IN the small sum OF s476l ",
or less than one-half OF one per cent 1t is
hardly nece ssary to add word more to estab-
llsh for the board their claims to as economl-
cal an administration as the road has known.
Indeed, go perfectly conscious are lneS LII, .Ia'
here. and here only, are to be found the solu-
tion of the roads difficulties, and its extrlca,
tion from all embarrassments, that they would
regard the pursuit OF different policy US re-
creancy from duty justly censurablc.
The gross earnings having been m
shown to be. ~ 3o1 9G 90 90
The operating expenses 10 po....' ooI f4i ~ ~
Aud, as compared with the net earnings OF
1867 show q difference OF SIG. .262 67 in favor
of that year.
The causes already referred to in connection
with the changes Of the "gross earninSs' and
Operating expenses, have similar relations
to, and in like manner affect net earDlnss, and
so obvious is this, that further observation, it
ia hoped, is not necessary. TIE amount rep
resented as met earnings" 1t Is well known,
indicates the net earnings OF transportation,
and is the fund from which are paid interest,
investments, debt and improvements. The
disposition of that balance this year will be
found in the Auditors statement.
For the purposes OF this paper, the foilow-
ing summary will. perhaps, be Interesting:
Net earnings as above stated. 49,. .s597 .5l4 AZ
Add thereto receipts from sales OF
old materials and reduction OF pre-
yious balances OF stocks OF mate
rlalS ............' ~, 'Af oo
Making together. ....... .s6H 2ss IS
'n,s aass sIs and stock Killed say. s79 O4
And the remainder. r.................s s4O4, ,26O 81
Has been sufficient to cover The TO-
lowing:
Cost OF fallS =. SOA,oAo Ia
0ISo bower. ". ................. 26.27e G.
Cost of constructing one
first and ono second
class passenger and
thlrty-se,cn box, plat
form aud stock cars. 81 376 "
Cost OF ons shifting en-
Glne. e..............-.. OVO w
Cost Of lands purchased 2,766 &c
Settlement OF Confederate
claims. H QUO III
In the aggregate. ioo wv q
Leaving balance Of ........ .s23S,o ,o6l W
Which has gone to Tho reduction OF geuerai in-
deb:edness.
Tic general expenditures for road purposes
have been chiefly, ii not exclusively, IN the
direction OF new rails and cars, ana nave
| amounted to over S115. 600. In neither cass
has it been found that VIC could have dispensed
with particle of what has been procured, a.lo
in the matter Of rails the supply has oeen III
| sufficient.
The General Superintendent, in his report
! calls for tweuty-onc hundred tons new raits
and recommends the construction Of fifty car
at least. Whilst the board may not be able Il
answer those rcuuisitions to their full extent
they recoeniz, Us undeniably true the wants
of The department in both cases, and WI, tt
tho best Of their ability, satisfy them. Jnt
wear OF the old rails during the past year ha'
been much greater than they could have cS
pecled, audit is demonstrated, to their entire
satisfaction, that, apart from the question
safety, paramount with them, 1t IS iasf
| economy to retain in the track an Did rail worI
beyond certa N degree. They havo furnlsh:t
one hundred and fifty IONS, fifty pounds, ,n:H'
| To meet present Dressing wants, and immaculate