Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1870-08-05
FINANCE AND TRADE.
rr OFFrcF OF THz DAIB6 APPEAL,
MEMPHIS. August 4, is70.

AuBuss efa0
TIE MEMPHIS AND CHARLESTON RAIL
ROAD. - rsdu IL.
The quarterly and annual statement OF
the Memphis and Charleston railroad =
to hand. 1t is made up to the 10th Juiy
iultl. and is an exhibit chat bespeaks for
the section Of country through which 1t
masses a prosperity upon which we sin
cerefv congratulate its people. This state
ment is very simple in its form, snd con-
veys the lesson Of progress, of gains and
proats. so clearly thet all may take It in
at a glance. Here it is:
For he Quarter Ending JaRe so, $50.
Receipts from P~asssngers- slts go g
" ireights--- 1880 81
mails. s58 ~
" express - IOoW
" privileges T,06 -
Total expenses--.-----.-- SiAVl vi
n.s.,, 80 8
Rece bis for corresponding
qusfter last year --- s243,6s @
Total expenses for ssme
SV'fo'4
psaeit o lsst q'ter, ls6s- s s2.G5 A ss2.o5 AZ
Difference in favor q'ter Just ended. aes5 50
InSEssSs TINS yer N IeoeIas 6syG2 %
The fiscal year ending jane so, $50,
shows the following results;
T,,sfr sesip,s sl.54sy0SO 80
+" extraordinary and
operating eXpenses--~ A-AsaS
Actual net Of lS70.---.s 5000 IS sSb.a9 IS
Yea Tsar ltosip.7 p.s'- si.lsz,75s p
TStsi extrsordinsr and
operating expenses--- A-&Sshs ~
Actual net, lSsg.--s EA6@ RSE46S "
Increase In sctual net this year. siso,efe 90
Tins. although during the last quarter
an actusl deficit of $3.50 IS is the result,
there is a gain over the Receipts Of the
corresponding quarter Of b previous
year amounting 10 s6s.O72 90; and the net
gain for 1870 is SsO5, eco As, Al increase Of
SI9O Gao 46 over the net of 1869. The de-
felt above for ihe last quarter OF 1869 Is
explained by Major Wicks, President OF
the road, in q circular in which he says:
IA expenditures of the year just ended
have been increased largely by additions
TO our rolling stock and other machinery,
together with the purchase of numerous
tracts of timber upon the line OF road,
with an accumulation of 10000 cords OF
wood against 400 at the same time last
year. ali of which will Tend to increase
the receipts and reduce the operating ex-
penses in the future." Besides this, we
can say. not Of our own observation tbe-
esuse we nave not been over the road for
two years past, bat from that of persons
mora eompetent in matters of cOnstruc-
ton OF rosd-bed, t~restle, bridges, cul-
yerts. etc, that this railroad has never
been in better condition, and thai 1t Is
subject Of remark that the rolling stock
of the Charleston is equal to thai OF any
railroad in the eountry-and this because
At is lone in the workshops OF the com
psny, under the supervision Of competent
master mechanics. When the Charleston
railroad is able to control b corpora
tious that link it with Norfolk, in Vir-
ginia. and Fort Smith, in the Indian Ter
ritory, it will rank among the gigantic
corporations of the United States, and
will then be able to do for Memphis what
she New York Central and Erie railroad
do for New York, the Pennsylvania Cen
trial for Philadelphia, and the Baltimore
and Ohio for Baltimore. We congratulate
the stockholders, bondholders and officers
Un.7n the excellent exhibit MsjOr Wicks
makes as a result Of his enterprise, en-
ergy anI lsbors.