The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1871-12-14
RICHMOND, FREDERICKSBURG
AND POTOMAC RAILROAD CO.
Annual Meeting Of the Stockholders
ELECTION OF OFFICERS.

~Ihe annual meeting Of the stockholders of
the Richmond, Fredericksburg and Potomac
Raliroad Company was held yesterday ut the
Office of the company in this city. Z. Y.
Cannon was called to the chair, aud Dir. J. B.
winston chosen secretary.
PRESIDENTS REPORT.
| The report of the President and Directors.
with accompanying reports and tabular state
! lncnts OF the General Superintendent and En-
elncei, were received and approved.
| FROM the report Of the President is taken
the following Income from transportation,
SSl3, SSH; from rents Of real estate, ST.
1914 =; and from dividends ON stock and
dividend obligations of the Potomac Steam
boat Company ,$10, ,SG3-making an aggregate
| OF 6,l80.0l, or 81 l,9lS.70 less than the
income of the preceding year.
1he ordinary expenses Of the company
are shown to amount to S1SS. 734 Is, not i'll
cllldlng the sum of S1i ,225.S4 reported under
the title of Extraordinary Expenses" and
expended in additions TO the property of the
company, not properly cllargeablc to the cur
rent expenses Of any one year, the Use and
benefit of thcn extending over /. series of
years, and 1ncluding the sum of s2,53l. 80,
this company's quota Of the expenses during
WV f''-u WV StuIS vi blt Alldllllr
Railroad Office in New York, ascertaincd and
| paid only during the past year.
During the seven months preceding the
close of the fiscal year, on the 30th of Sep
temhcr, considerable reductions have been
made III the rates of fare over this road,
| winch nave resulted in duninutiCn of the
recclnlS from transportation of passengers.
| III The last annual report of the directory
ol lhis company to its stockholders the then
| expected early construction of 4 railroad be-
| tween Alexandria and the terminus of this
| company's branch, or extension, to L point
near the entrance OF Quahtico creek into the
Potomac river was adycrted to with re-
ference TO the advantages which would result
to this company from continuous railway
transportation between Richmond and Wash
inglon and points south and southwest of
Richmond, and points north. northeast, and
northwest of Washington. The stockhold-
crS have been informed, ut their called
meeting in May last, Of the subsequent
action Of the company now cOnstructin"
that railroad between Alexandria and the
terminus OF this company'S branch road
in rejecting any terms Of cooperation which
were not equivalent to the disruption of this
com,mny'S relations and business connections
| with all other companies, and the suhjectiOn
of its Interests and management to the abSo-
! lutc control of other companies, or aSSocia.
tions of individuals by which that company
is sustained, and by which its road is being
constructed. Under these circumstances il
| became matter Of obvious importance tc
this company to secure the immediate con
Structinn Of 4 railroad from the terminus o
| its branch road near Qlumtico to the moutl
Of Ouantico creek, where there is 4 superior
Iil-h -hnJ, nj II
structures there, for the accommodation OF
the steamboats, running III connection witt
this company's road between that point an(
Washington. And ;is the charter of thi:
company did not autorixc the extension oi
it> road beyond The terminus of its ten-lnil,
branch. il hcrainc necessary to have it don,
by the Potomac l:aiiroad Company, Whost
charter also authorizes it to cXtcmdits road f
Alc<andrl. The work both on this com
PAWS tcn-miic ll:ilich and on the CONNECT
ing road between il and the harhor at the
mouth Of QIriutiru cicck has been very
nearly finished. AMI can be in use within
three weeks after the completion Of iii chi
lr,uku,ut over Il Eia;Sliy creek, rCqulrlu.
mere time anh work then was anticipated.
The HliIryCs and other structures ut the
mouth OF Quan!ico creek are all completed
! Wien this ConIplny'S trains shall be run to
that point the time required for transporting
passengers between Richmond and Wash
in.ton will, according to the best estimate
Nlicii en- now he madc, be nearly OF quite
enc hour less than ut present, increasing to
that extent this company'S advantages over
any other route between Richmond and the
North.
This estimate is made without reference to
the railroad now under construction between
Quaulico and Alexandria, the Board not
being possessed OF any reliable information
as to the date when that road will be ready
for Use, or Is to whether the company OWL
ing it will be then more disposed than they
have heretofore been to enter into any ar
! r;nScmcnt for joint transportation over that
road and this consistent with this company's
independence anu interests.
Notwithstanding the difficulties aud antag-
oniSlns experienced by this company during
the past year, it ha, been enabled to dcfray
| I'LL its expenses, to meet all its liabilities,
whether for interest on its funded debt or
dividends on its guaranteed stock, and 10
transfer baElncc Of $J2,4I9.09 to its reserve
! fund, applicable to the extension and i'm
proyemcnt Of It's works, and TO the other
measures needed for the protection of its in-
/. forests.
In the mean time, the roadway, equip
mcnt, and other property of the company,
have hrcu maintained in the best condition,
and capable Of the most efficient perform
ancc of any amount OF transportation for
which they may be required.
! The fidelity. zeal, and efficiency with which
| the officers and employees Of the company
| Immediately under the observation and con-
troll of Board have, with few exceptions, per-
formed the duties of their several positions
deserve more than Il formal commentator,
and could not be cXcclIcd. The occasions,
during the past year especially, requiring OF
them the performance Of more than USUAL
klborS, often ut unusual hours, have not been
few. and have always been met by them with
IA spirit of zeal and aiacrity which evinced
their deep interest in the welfare of the COM
pany.
GENERAL SUPERINTENDENT REPORT.
From the report Of l.. I. ID. Myers, the
indcfatigablc and courteous General Snperiil-
tcndcnt, to whom this company is indebted
for untiring energy and faithfulness, it is seen
that the earnings of the company for the
wear are, Us set forth in the Treasurcr's re-
mort, 1926, 1901, and the expenses 500, $50.
1t appears that there is reduction III current
expenses Of jG,923.9j, and in revenue of
81. .94S.7O. as compared with the previous
wear: and that the ratio Of expenses TO re-
ccipts is 81 per cent. These figures include
the extraordinary expenses. The company
cnuipmcnt has been increased during the
year by tirSt-class locomotive, : baggage
cars, boX-car, and flats.
The through train has not been added to.
The road has been kept up to its uslui stand
ard. The bridges are in good order. The
Hazel Run trestle decayed more rapidly than
had been anticipated, aud has therefore been
entirely renewed with frst,cE'ss timber, i,
This skeleton structure, less durable than