The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1869-12-01
RICHMOND AND PETERSBURG
RAILROAD COMPANY.
Meeting of Stockholders.


The annual meeting Of the stockholders
OF the Richmond and Petersburg Railroad
Company was held at the office of the COM
pany on yesterday.
Benjamin Nash, Esq, was called to the
chair, and Mr.. N. ". Warrington was chosen
secretary.
The report of the President was pre-
scnted. From this it was shown that the
gross receipts amounted to $3.50, ,94j.S6. The
ordinary operating expenses We're S94 ,5I5.15,
leaving net balance of $G3.370.71.
The quantity OF coal carried at reduced
rates during the past fiscal year had been
greater than during the previous fiscal year,
but the expenses in transporting the larger
quantity had been proportionately greater
than the receipts; yet, IN consideration of
increased supplies of coal, steady enlarge
ment Of this branch of business might be
expected.
The income from through travel for the
past year exceeds that Of last year BY
81, 121.12, and the income for local travel
is greater than that OF last year by Sj,676.G5.
IN detailing the improvements over this
route, the extent Of the travel between the
northern States and Florida was referred to.
1t appeared from competent testimony that
not less than thirty thousand persons had
visited Florida, for health, during the past
winter.
The President further says "Since the
completion Of the track connecting this
with the Petersburg railroad, an entirely
new and growing branch Of business has
been developed in through frcights between
Richmond and points south Of Petersburg.
For the first year Of its commencement it
amounted to about T00, 900 pounds, whereas
for the past year it exceeds 10000, 900
pounds, besides 2,495, 800 feet of lumber.
This source of revenue is permanent, and
must continue to keep pace with the adj
vancing prosperity Of this city and the States
south of it.
"The funded debt of the Company con-
sists of three classes of mortgage bonds.
the first being $4,000 convertible coupon
bonds, bearing per cent. interest, and
payable the 1st Of July, 1915; the second,
2130,5o0 coupon and registered bonds, bear
ing per cent. interest, and payable on the
1st of June, 1870. Both of these are rem
nants of old debts, the principal and inte-
rest Of which are payable ut the office of the
company in Richmond Lastly, Sl1j,0 900 of
coupon bonds, bearing s per cent. interest ::
principal and interest payable in Philadcl-
phia on the 1st Of September, 1870. The
whole funded debt Is, therefore, S319, ,000."
After continuing at length upon the de-
tails of the road, the report concludes as
follows: ..-.n
1.-The officers and agents of the company
arc entitled to commentator for the faith
fulncsS with which they have discharged
their respective duties in the management
of the increased business of the past fiscal
year.
"Signcd on behalf of the Board.
"CHARLES ELLIS, President"
The report was received and approved.
The report Of Thomas II. Wynne. Esq,
superintendent of the road. was also read
and approved.
The following report of the Examining
Committee was also read and approved
"1hc committee report that they have
examined the road and bridges, and find
them in good condition. The road-bcd,
though very smooth and firm, has been re-
duccd in width in many places by ncgli-
gcncc in the ditching. and needs the repairs
which have been already commenced, and
which is evidently progressing as fast as can
he done with safety. \ large number Of
new crosS-ticS have been put down, and the
road we'll halH>ted with gravel at the places
where these have been put in. With con-
tinllaton Of similar operations we have no
doubt that the road will he in good cond-
ton by the end Of this fiscal year.
"Thc bridges on Swift and Falling creeks
show that they have been well taken care of,
and are safe. \ large amount Of work has
been done Oh thc james River bridge in
lcvclling the track and boarding up the
sides, and preparations are being made for
covering the top with cypress plank which
will complete this important work. The
addition of 4 large number of caSt-iron keys
and bolts has added materially TO the
strength Of this important structure, and it
is. to all appearance, durable and pcrma-
nant work.
"Thc improvements which have been
made ut the shops in Manchester are of Il
desirable character, and will increase the
facilities for, and economiZe the operation
of, the wolkmcn in all departments.
1.-The erection Of depot building at Pc
tersburg, the joint property of this and the
Petersburg and Weldon Railroad Compa-
nie-, now nearly completed, is regarded as
Il most important addition TO the facilities
for through travellers; and the plan of az
rangemcnt and mode Of construction meet
with our approval.
"On the Glover Hill railroad we find that
much Improvement has been made during
the wear. A large number OF new ties have
been laid, and the road Is smooth, though
not up to the standard required by this
company.
owe have to add that the house for shell
tering the engines at the Summit is still
open, and not yet suitable to protect the
property OF this railroad company as it
SHOULD.
eve have examined the Treasurer
books, and find them neatly and correctly
kept, and proper vouchers filed to CORE
Spond with the expenditures.
"W. II. HAXALL,
''P. J. WRIGHT,