Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1870-11-24

In addition to the foregoing list OF RESOURCES
there remains of original capital stock created
iy charter and not subscribed, shares TO the ex'
test ul $7S4 1921 which the Directors were
authorized by resolution OF the stockholders
passed at the annual meeting IN November
1866 to issue 10 such creditors as would tund
their debt in the same if deemed cxpedlent,
and $500, 900 of the stock OF the o., A. Il M.
r. L. Go. authorized by the act OF assembly
orpuratiug the Manassas Gap with the y.
d. a. H. r. 20. and made applicable to the
Construction of the line to l1arrlssonburg, aud
,.avm"it o! the debt incurred for that OBJECT:
4 lerge proportion OF the increase OF capital
stock issued within the last Two years has been
made By virtue OF the authority conferred on
tiu board OF Directors 40 above stated. ne
Company has also the right to issue S35O, OUO
OIL bonds under the last act OF incorporation.
The amounts due to and from agents and IN
diviIu.ls as heretofore explained appear as
charges and credits in the accounts as existing
at the end Of the month OF September, but are
modified by payments and settlements made IN
the carIy ;Iart of Oesober. The Auditors &C.
count Shows that over 100000 OF old debts
and bills payable have been ex:ingulshed dur
ing the past gear.
Receapts aaa Disbursements
The appended statement OK Treasu-
suIer SLOWS, Ok receipts and de-
posts in banks from all sources
during the year, an aggregate Ola Zil,pZo %
Discussed by checks on banks Tor o -, ~
sSma perI0G.............. .....'.. 30, iol on
Leaving as balance in banks. LIST of
OCTOBER 0tS'oVf po
Capital Stock.
the total amount OF stock Whlch mas pGen
issued by the Company, Including the DELHI
quent stock heretofore referred to, amounts to
81 ,295 shares, which at its par value OF nifty
dollars per share, represents the aggregate
sum of So, 6l4,7 50 As the certificates have been
issued il various forms, and seVeray described
as mace in part on account or the original hue
to GarGonsville, for the Lyuchburg EXTENSION,
and on account cHO.. A. & NJ. r. K. Co., the
szoprcty Of calling in all the old stock is sus-
gested, and uniform certificates OF the present
Company substituted therefor,
IN view Ut all the circumstances and sur
roundiugs, the financial condition of the com.
pany is as favorable as could have been an.
| ticipatcd.
! The termination OF hostlities at the close OF
! the late civil war found its finances involved
| with much of difficulty and embarrassment A
! large portion OF its property, both fixed and
| movable had been injured or destroyed by
he events OF the war, and required immediate
| renewal. Its debt had Increased by accumula-
| tion OF interest and the Inability to pay credl.
| tors in Confederate currency. Over due s6d
! accruing coupons on four separate mortgages
| had TO be provided tor besides large tempo
| rary indebtedness, and the means necessary to
| maintain aud operate the road. La addition to
| the heavy responsibilities referred TO-, the COM
nanv assumed the difficult undertaking ia 1867
OF rebuilding the line OF the Manassas Gap
Railroad and completing its unfinished section
10 Ilarrisonourg, with the limited means at
command. All these formidable difficulties
have been however surmounted, and the de
sired results secured 10 behalf of the company.
The present management invite comparison
| OF their administration and results accomplish
ed since the war with that of any railroad com
| pany lii the State, both as regards the relative
magnitude Of indebtedness either paid or pro-
vided fog, the favorable terms Of settlement
obtained for the company, as we'll as in respect
| to the extent OF new work constructed.
Manassas Branch.
The entire line through to Harrisonburg has
been opened since your last meeting, and in
daily operation for trains since 18th January,
1869 For some time after the line had been
opened the receipts derived from transporta-
| tion of passengers and freight we're less than
| had been expected, land insufficient to meet the
| Interest account, and costs OF maintaining and
! working it, For the year past the business of
| this line hasmuch improved aud promises bet
ter returns Tor the Investment made by the
company, Notwithstanding the competition at
torded ty the line recently opened between
Winchester and Strasburg
The stem to Front Royal was directed to be
laid down again this summer in time to carry
off the present crops of the year. This was |
work Of small extent, but had to be executed |