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

the o., A. & M. 4. X: Co., ey'
changed for old Nj G. K. 4. bonds, r.o 40
and over due coupons, ..............'o Ioo,o'' 7
Account per contra.
Received from sales OF tho issue OF
s., $50 coo Of O. a. & NJ. r. L. bonds
left after deducting the amonntas
above required to exchange Tor
the old MIG. T. R. mortgage bonds
and coupons outstanding, say ,o c,o M
100000 st 70 per ccnt......... .'....so0oCoo W
Receipts from transportation from 80 cor co
beginning to Both Sept leio......' 4z7'o0o ~
Total reaiized....."............ "s 10Y 9so %
From the above statement 1t Will be seen
that the Company has paid out on account OF
the Manassas Branch an aggregate OF Si'4lI'
l4S. 96, and realized in return from bonus sold
and earnings OF transportation, the sum OF
81, 059, 1858, and leaving a BALANCE 80 3r lar
against the enterprise OF $780,, 1919 Inc
Gompapy has created u mortgage debt o.!
81, $50, 900, to be ultimately provided lpr' anu
has assumed tho payment OF interest thereon
at the rate OF seven per cent per anoum, con'
stilutipg an annual charge upon It's net re-
GENTS Of sll5,5OO. Considerable effort seems
10 have hccu made in certain quarters TO I'm
mess pubic opinion with the great dement's
which the Company has secured from the IN
cornoration of the Manassas road With lis
original rc, and to cXaggcratc It's relative
value, While it is to be hoped that business
will increase hereafter with the expansion ana
develoomcnt OF the country adjacent to the
line oi this road and the Company receive rea'
souable reimbursement for its large eXpenol
ture. SO far it is obvious that the city OF Alex
andria. and the local communities along the
line of the Manassas Branch are the principal
Uncertainties OF its reconstruction. The public
shirt and iberality OF this Company IN as9um-
ing and successfully executing the dlttcu't un-
dcrtakiug of rebuilding and completing tic
Manassas road should commend II TO the layer
able consideration OF ali who enjoy It's aAvan'
ages, and especially OF those who have S%cureu
the construction OF first class railway without
any further contribution OF means, al'd III q
| time when all other efforts oil making the ROAD
| had failed.
LmcAbuy &c DanrAlc Ratlroad
The great value of this work when construct
ed to tie line of your road was appropriately re-
| corrized at the last meeting rt the st0cknoid
ers. end resolution adopted empowering the
! President aud Directors TO render such asSls
| tanoe to the object rs the financial condition OF
! the company would allow. As an earnest o
their desire to promote the object and to lden
tifv the Interests of the two lines o! railway
the Directors during the mast year made sub
| scription of two hundred thousand dollars n
bonds to the stock Of the l.. 4. ID. Il. II. Co.
convertible into the stock Ct this company q
! the pleasure OF its Board Of Directors: IhlS
qualified subscription was MADE under the
| terms of the act OF Assembly which gave your
| comaany authority to subscribe to the stock
the D.R.RCo. either in money, material
bonds &c, The early construction OF this I'm
| - ri ,,nur limo NAV n0H he re
rarded as certain. The county OF Pltisyl7anli
and town OF Danyille have made liberal SUB
seiptions to the stock, and it only remains iol
Lynchburg and Campbell to give helping
hand 10 the same direction. The Baltimore &
| Ohio r R. Co. has promised also to contribute
aid to construct the road in view OF Its lmpor-
lance to their Washington branch as south
crn connection. While the Orange, Alexan
d1,s T. Manassas Railroad Company has prol
| obligations OF higher dignity to meet, 1t vel
can we'll afford to pledge its faith and credit al
| lar as practicable to the construction or TINS
| imnortant extension of their original line o.
| railway.
| Communication Jet,oeen Washington e IAter
| andria.
Proper connection by rail With Washington
city is OF the first importance to the business o
this company. The present line of communl
cation has not proved reliable, and involves fire
ouent contingencies of stoppage to the passagt
of train. from foods and other disasters. Tht
PENNSYLVANIA Railroad interest has secured
from Congress the crossing of the Long Bridge
over the Potomac for the extension OF then
| line from Washington, via Alexandria, to NEE
the Richmond, Fredericksburg & Potomac Il
r., and in view Of the competition which
may arise between that line and ours hereaf
| ter atDanvlle,i it is material that an Independent
communication for the through trains OF this
company should be established With Wash
| ington.
This can probably be secured by contract ar
raDgements not involving any outlay OF money
| in advance, and specific authority Tor the pur
pose is respectfully asked TO be gwen YOU
Board of Directors.
| General Policy.
Having, in the above exhibit, presented TT
condition. Of the road and state OF It's bplnces
and discussed its external relations o. bearing
upon connecting lines. the director, propose il
conclusion to submit some reU.srks eXpIana
tory of the general policy which has controle,
their management OF the a.ffairs of the compa
~. This policy may b.; described briefly. 1t
leading principles have sought to look primari
Iy to maintaining TIC credit of the company a
every cost, to the exercise of as much economy
as possible in the administration OF its affairs
and to secure for the road all the trade an(
business which circumsta stances and natural posi-
ton allowed. In subordination to the success
tul application of these important princip Piles
| the management has sought to foster the in
tercsts OF the terminal cities of the road, With
Gut sacrifice OF the valuable through traf
which the line was entitled to transport, and
at the same time to adopt such rates ant
charges upon passengers and tonnage as wcule
encourage the local business OF the line, ant
develope the material prosperity of the coun
try. Incarrying into effect the princi pies refer
red to the present administration has incurred
both criticism and opposition. Some OF Thu
dissatisfaction has arisenironl misunderstanding
oil facts, but much Of it has, proceeded from The