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

RICHMOND, FREDERICKSBURG AND POToMAC
| RAILROAD CoAPASY-AHSUAL MEETING OF
SToCKUoLDERs.-The annual meeting of the
| stockholders Of the Richmond, Fredericks-
| burg and Potomac Railroad Company was
| held Yesterday ut the Office Of the company.
Mr. W. II. Haxall occupied the chair. and
Mr. j. B. Winston acted rs secretary.
The Chair appointed Mcssrs. Fl. \. Clai-
borne, J. NJ. Robinson, and J. K. Baylor, a
committee TO ascertain the amount Of stock
present. They reported 4 quorum (+,95O
| i'll 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 30th Sep
tember, 1869, was from transportation $780,
99G.2I and from rents Of real estate 81 1913,
or, in the aggregate, 1882, ,025.42, bcin"
$50, 1926 more than the income of the pre-
cedinS year. The current ordinary cX-
pcnses were (eXcluSiye of permanent im-
proYements and additions TO its property
SIG G.422.47. or only 81, 1874 more than they
were during the preceding year, and 53 per
per cent. Of the income Of this year, and
showing a 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 81 800 to the
Randolph Macon College, ut Ashland. for
the rchtting 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
$2.594.23. 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 in the last years accounts
| by transferring from the ordinary to the ey-
| traordinary expenses of that year the sum
| If Sc. .SGl.Si expended for the same purpose.
| Deducting only the two first OF these items.
Is they should properly be deducted, from
| the current ordinary expenses Of this
year, reduces their current amount to
Si12, ,32S 81, or =, ,g0j.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 II per cent, with Il decrease of the
current expenses of more than * per
cent. mainly due to the good condition in
which the property has been maintained
| 4 fact highly crcdtable to the officers and
employees Of the company having it i'll
| charge.
| The sum Of S23.1l1.3 80 has been expended
in rebuilding two excellent and permanent
bridges over the South Anna and Little
rivers, in place Of the temporary trcstlc-
work erected after the war. There now re-
main but two small permanent bridges
along the whole line OF the road to COM
| plctc the substitution Of the most substan-
tial bridges for temporary structures.
| \ tribute is here paid to the skill, Iigi-
lance, and efficiency OF the engineer and SUI
pcrintendcnt of roadway, bridges, and cars,
| by whom these improvements have been
planned.
AS means of fortifyinc the company
against forced and unnatural competition
Dy improving the steamboat service on the
| upper Potomac, &c, the report remarks
that it will probably be expedient next
| spring that the steamboat tianSportion o.
this route on the Potomac should be re-
| sllned by the Potomac Steamboat Com
| pAny, the franchises and resources of which
| company afford facilities for these purposes
not attainable under existing arrangement!
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 pOlitica
status upon southern railroads. Mention
is also made Of the decease Of Gustavus 4
Myers, ESD, an efficient director of The
company, and of the temporary filing o
the yacancyfor the uneXphed term by JOIN
NJ. Robinson, Esq. Testimony is borne, il
conclusion, TO The fidelity and efficiency o
the officers and employees Of the company
having charge Of its property and opera
tons, and to the promptness, skill, and &C
curacy, with which the books and account
of the company have been kept by TIT
treasurer, auditor, and their clerks.
After the reading Of the report Mr.. E. Y
Cannon moved an adjournment of the meet
ing, as the state proxies were not present
This motion was lost, and on motion of Mr.
II, \. Claiborne the report was adopted.
The following resolutions were adopted
on the recommendation Of the Board of Di
rectors
81. Resolrcd, That the President anc
Treasurer be, and they are hereby, aIltho
rized and instructed TO take, in behalf 0
the company, its quota Of the bonds or obi
cations which the Potomac Steamboat Com
pany may deem ii advisable to issue for tht
resumption Of its line on the Potomac.
80. ResOlUed, That the President and Di
rectors be, and they are hereby, authorized
and instructed to make such arrangement
as they may deem advisable with the Poto
mae Steamboat Company, or some othe
steamboat company or association, for run
ming line of steamboats, on. the lower Po
tomsc between Aqua creek and Balti
more"
The order of General Candy poStponin!
the election of officers and directors wa;
read, and ordered to be recorded; afte
which the meeting adjourned.