The weekly North-Carolina standard. [volume] (Raleigh, N.C.) 186?-1869, 1869-06-09
Progress of the North Carolina Railroad.

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We have received from William A. Smith,
President of the N. G. R. R. Company, a
statement of the receipts and expenditures
of that Road for the eleven months ending
April Both, 1869, compared to the receipts
and expenditures tor the corresponding
eleven months in 1857 and 1868. The re-
ceipts for the eleven months were $780,
S9818. Actual current expenses were $346, :
S11.5S. Nett for eleven months 1882, $50, 60.
The amount of assets on the 3Oth of April,
1869, is stated to be $156, 64221 more than
ON 31st of May, 1868.
This is a very fair showing for the present
management of the road. The road has not
yet been under Republican management a
year, and this report evidences prosperity
that is more marked in comparison than
any other interest in the country. What is
more emphatic in this connection is that
when President Smith first assumed control
the Democratic press generally predicted a
depreciation in the value of its stocks in
consequence of their prophesed decrease in
business and profits, and that their false rep
reservations and delusive, malicious hopes
have been proven groundless by the stern
logic of events. A report of the compare
tive earnings and expenses in July 1867 and
1858 was made in August last, which showed
balance in favor of July, 1868, under
the present management, of $12,271 OF.
The STANDARD published the statement, and
predicted that the year would be equally
prosperous. That was again declared to be
statement more favorable than could be
sustained for twelve months but eleven
months have run their round and we have
$156,642.21 profit in excess of the previous
year,a monthly average of $14, 2402 an ex-
cess over and above the first monthly report
of $1,96913
We are assured that this result is attained
by economy and energy in the management.
and by an actual increase in the business of
the road, brought about in part by combi
nations to secure quick transit to freight
and the accommodation of the wants of the
people along the line OF the road. The
road and its rolling stock were never in bet
ter condition than to-day. Valuable add.
lions and repairs have been made during the
year,and the capacity for transportation has
increased at least forty per cent.
Although the Democratic press almost
universally made an outcry when the road
changed hands, we are happy to state that
since these results have been shown the Char
lctte Democrat, Milton Chronicle and Hills
boro Recorder have done justice to Mr..
Smith and complimented the management
and we understand many heavy private
stockholders have expressed their confidence
In MIR. Smith by expressing desire that his
present policy should continue.
We rejoice at this favorable state of af-
fairs, not only because it refutes the oft-re-
peated croakings of those who became the
enemies ofthe road when they could no longer
control it, but because it gives us a practical
illustration of paying railroad in which !
the State has an interest There can be no |
doubt that what this road does can be |
done by the other roads of the State. as |
soon as they are completed and in successful |
operation, and the country along their lines
IS 'developed by being brought near to mar
ket through their agency.