Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1870-07-28

They now have In their shops being re-
built the following five engines, Nos. L, 2,
IL, Is, and 20, upon which force of
eighty-ive men are daily employed at an
average of So per day each.
They have built three new section
houses, and depot at Union City, and the
materials are provided for three more Sec
ton houses, as also for depot building at
Mckenzie.
They have also contracted for 500, 900
feet of bridge and other timber for the use
Of the road.
Most, if not all the passenger coaches
belonging to the Nashville and Northwest
ern Railroad Company, are in dilapidated
and almost unserviceable condition, and
require to be overhauled and thoroughly
repaired. For this purpose five of them
have been taken into the shops of the
lessees, and will soon be rendered fit for
use.
The entire rolling stock, engines, coaches,
box and flat cars of the Nashville and
Northwestern Railroad Company were in
bad condition at the commencement of the
present lease, requiring heavy outlay to
fit them for service. This is being done
as rapidly as circumstances will allow.
The present lease was given on the ter
mination of former lease of the Nashville
and Northwestern Railroad to the Nash
vile and Chattanooga Railroad Company
by Mr.. Burns and DR.. Cliffe, President
and Receiver, upon the former road The
first lease commenced the first of Septem-
Der, 1863, and for the sake of convenience
may be considered as terminating on the
3ist day of December, 1869, lasting
a period of sixteen months. The gross
earnings, or cash receipts of the Nashville
and Northwestern Railroad under the first
lease and for the above period of sixteen
months, were. .....,..................4l6 ,O09 II
The expenses during the same
time were. ......................44I,4 Az co
Excess of expenditures over cash
lpts..................... 81, go 10
The road also earned by mail service and
other transportation for the Government of
the United States-which has not yet been
rendered available-the sum of 80, 712 sc,
leaving a balance due, the sum of l.
G15 20.
Regarding the present lease as having
commenced the 1st day of January, 1870,
then the earnings and expenditures for the
first four months would be as follows:
Cash receipts
from all
sources. ..$10i, 800. 10
Mail services
ETC., not
available. GOES. 20 11O,8S9.86
Expenditures for same
tme.-.................... l55, 534.OO
Excess of expenses over
earnings for four
months .................. 45,144.64
The Nashville and Northwestern Railroad
Company own twenty locomotives, about
half of which are in running order, and
the others unserviceable until rebuilt, val
ued at Sl41, $50. Five of the latter class
of engines are now in the shops, being re-
paired.
Also, seven passenger coaches, valued at
an average of 81, 400 each. Five of these
are undergoing repairs. Also, 102 box
cars at an average of $3.50 each, 80 flats at
$500 each, and one wrecBing car at 81, 900,
making total valuation of cars of $50, 400.
Besides the above, there are, as I under
stand, about twenty box cars belonging to
the company which have not yet been val
ned.
The lessees estimate that it will take
$4,000 to put the machinery in good order,
$4,000 to put the passenger coaches, box
and fat cars in good order, and 125, 900 on
track structures, ETC., over and above the
earnings of the road while these expendi-
lures are being made.
The anticipated results are liable to be
varied by the rate of expenditure upon
the road, and an increase or dimunition of
its earnings.
It is believed that very soon after this
road shall have been put in first-class order,
and furnished with a sufficient amount of
motive power and rolling stock to do the
business offered, promptly, that its
receipts viii lie increased from $4,000 to
80, 900 per month, as at present, to IS, 900.
Its annual earnings in few years, under
good management, will exceed a million of
dollars. This road occupies a favorable
line for business, especially for through
freight and travel between the Southeast
ern Atlantic seaboard and States, and the
growing city of st. Louis and the great
Northwest, and looking to near future,
its prospects, ] think, will compare fayora-
bly, with those of any other railway in the
State.
Prudent patience, wise forbearance and
watchfulness on the part of the State,
combined with good management and
economy in operating the road, cannot
fail, in my opinion, in few years in rem
dering safe the investment of the State in
this enterprise.
In the meantime her security is being
daily strengthened by the improvements
being made upon the roadway and struc-
lures, by additions to its rolling stock and
motive power, but most of all by the de-
velopment and cultivation of the business
of the line.
In conclusion, it is gratifying to mo to
be able 10 state that l have detected no
want of disposition on the part of the
lessees to carry out, in good faith, all the
terms and stipulations of the lease, Re-
specially submitted,
JOHN A. GARDNER, Ag't.
NASHVILLE, June l, 1870.
Nessrs Z Moore, Il i CaStleman and