The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1869-11-26

Receipts and Expenses.
The earnings Of the road during the
fiscal wear ending September 80. 1862
The cxTcn<cs q" rcTcrai ADMINISTRATION
Cor tln gam, ncriod were Al. 581 G.
Net earnings. 1885, O92 0.
n re., w. ,.ss W ca,3oo ~
the cxrcs: " expcnciitnrcs over pre-
y0us wear was. '''' u
4 deduction, however. from the eXpen-
cIiturce or the wear ending September 90.
1860. Of the amount nn,l for fclavin" with
ncwiron = portion of the road east of Staun-
ton. 81. 20G.54. aud Of the increased amount
It wood on hand September so, 1860, SILL
0nn would snow Il diminution of working
expenses over the previous year.
Tho amount of unpaid hills In the Office
~ the Gcncr"l Superintendent on Sep 49, -
tcmner 80 Use? were. -.
or Joss than Scptcmhcr20 Ices .......... 'o'2 -
Full details of the transactions Of The COM
panv will he found in the annexed reports
Il the Treasurer. General superintendent,
and Chief Engineer.
Condition Of Dcbt Of the Company.
The indebtedness of the company is in
creased by the sum Of 1868, 1868, the whole
If which is chqreeahle TO the construction
md equipment of the road west of Co.
vin"ton.
Cpcujng the Poadto White Sulphur Springs.
Il was deemed desirable that the road
should lc opened to the White Sulphur
Springs hy the 1st day Of July. The work
was n difficult one. and many unexpected
obstacles were encountered, but the energy
Of those in immediate charge Of it Impressed
ITSELF alike on contractors and laborerS, and
tie trains ran through on that day. The
whole OF this new portion Of the road Is :!
masterpiece Of engineering skill. alike in
c.ign and execution. The opening Of this
mart Of the road is the chief cause OF all H.
crease for the list quarter Of year us over
The same quarter Of the previous year Of
roytv-cnc per cent. in revenues from paSSeil-
ger fare and fifteen per cent. from treights.
The cattle transportation Of the road l,
Increasing largely under this extension by
attracting herds that have been heretofore
iiudin. her outlets 20 market.
Estimated Receipts Jor 1SGo-'1o.
We feel safe in estimating the receipt: foi
he wear ending September 30, 1910, al
500, 900. and in surprising that these re-
rcip!S viii provide means TO pay the run
ning expenses Of the road, the interest on
he whole Of the present indebtedness 81
the company, aud leave balance Sufllclen'
% paw for such new iron as may be neccS
sary for rcDnirS.
The Rolljag Stool: and Notjre Poorer
II the company is in frs; rate condition
and fully sufficient for all the present pur
poses Of the company, with the exception
II few additional stock cars that are now
,eing built in the c0mpany'S shops, anG
that it vii! probably be found Necessary tc
build four second-class passenger cars he
fore the summer, to meet the expected in.
crease in travel The general condition Of
the roadway is good.
Surveys.
The report of the Chief Engineer presents
! most favorable view of the line from
White Sulphur Springs TO the Ohio river,
and shows that the labor expended i'll /;
thorough adjustment Of the line will pro
duce most valuable results 10 the company
Prosecution Of The Work.
Entering upon the management Of the
affairs Of The company twelve months ago
the Directory found contracts existing iol
the construction Of the road from Coying
tou 10 The White Sulphur Springs, involving
IN expenditure CT near Sl.OOo,O00, lnclu'
ding considerable amount OF unpaiC
claims upon the same account. 70 meet
these engagements and liabilities no mean,
cent. mortgage bonds-the issue Of Whlcl
you had approved.
Believing that the suspension OF the WorH
would have damaging effect upon tht
credit and interests Of the company, ant
having the most favorable assurances of Tho
success Of he loan 1T least to al extent suili
Gent 40 cover the work contracted for, WI
deemed it advisable to proceed, and Tho
failure OF fultilmcut of these assn RANGES lei
rs 10 alternative butte resort 10 Temporal!
eXpcdicnts ALWAYS cXpcnSiyc) to procure
the money to prosecute the work.
Under these difficult circumstances We
were glad to avail ourselves Of an oppor
tunitv which offered TO secure, upon terms
satisfactory to us and advantageous to The
company, the cooperation OF gentlemen o
New York, large capitalists and OF hlgi
tinancial credit and reputation, who have
undertaken charge Of the finances OF TIT
company, and substituting Il six per cent
for the seven per cent. loap, viii enable u
10 press the work vigorously to & speed,
and successful completion.
The President and Board Of Directors
make their Acknowledgements to the officer
and employees Of the company generally fo
the faithful and efficient manner in whicl
they have performed their duties.
WILLIAMS {. WICEuAa,
President Chesapeake and Ohio
Railroad Company.
Accompanying the above were the re
ports of Mr. John Garrett, the Treasurer
giving clear statement Of the finances o
the company, and the reports of Mr.. Fl. D
Whitcomb, the able and efficient Enginee
and General Superintendent of the Com
pany. His report as Engineer shows that
estimating for the same character of con
struction us that contemplated by the lat
Charles 3. Fisk, the road can be completed
for an amount in present currency not eX
cecding that estimated by him ut gold value
lie paws deserved tribute TO the energ
and skill of w. \. kuper, Principal Assist
ant Engineer, and to Messrs. A. l.. Rtyes
c. n. Bolton, and L. T. D. Myers, Assist
ant Engineers.
From Mr.. Whitcomb's report as Genera
Superintendent it appears that the earning
for the year ending September 80, 1865
were From passengers, $3.50, 60S.22; from
freight. $40 ,222S.S2 from express, S14,
49,. is; from United States mail, Sla, SS9.42
from miscellaneous, 1860 !; from rent of rea
estate, 81 ,0i69I-totai, $500, 6T4.55. Th
expenses were rs follows For conductin
transportation, legal and miscellaneous eS
penses, $50, 336.67; for repairs of locomc
tiyeS and ears, S77,723.a; for repairs c
workshops and tools, So, $3.50 for repair
of road ana buildings, SlS2, 416.T !; for salu
rieS, SIT ,49G.16; for taxes, $40, SSG.57 70
| insurance, - $50; for repairs Of real estate
siS:62a'otal, SAT- ,58l.es. Net receipts
$780, 81.
There has been an increase in reycnu