Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1871-06-21
KNOXVILLE AND KENTUCKY RAILROAD.
Report of Executive Committee ON Re-
eeints and Expenditures.

kN0AlILLE AND kENTUCkl RAILROAD.
Report of Executive Committee ON Re-
ceints and Expenditures.
AT called meetiug of the Board Of Direc-
tors of the Knoxville and Kentucky Rail-
road, held yesterday, the report of the Ex
ecutive Committee, appointed at a previous
meeting, was read and ordered to be pub
lished in the city papers.
The same committee reported upon the
losses sustained by the failure of G. Powell,
Green & Co., but it has not been furnished
us in full for this issue.
REPORT OF THE COMMITTEE.
At q meeting of the Board of Directors
of the Knoxville and Kentucky Railroad
Company held January @, 1871, the follow
ing resolution was adopted:
"On motion of Mr.. G.. w. Ross, it was
Resolved, That the Executive Committee
in connection with the officers ofthe COM
pany, be requested to make a thorough ex-
animation into the condition, and to make
q full and concise report of such investiga-
ton at q meeting of this Board to be called
for the purpose; that, if they find it neces-
sary, they are hereby authorized to employ
additional clerks to assist them; that each
member of said Executive Committee shall
be paid five ISL dollars per day, for every
shall, in connection with the President,
take all such steps as may be deemed ne
cessary and proper to protect the interest
of the company and that, for the ensuing
year, the Following named persons shall
constitute the Executive Committee: l.. J.
Sanford, DIR. John Fouche and J. c.
Chiles.n rs.r. n.y. II .
TO Tie Directors of the Rnorrille and Ken
tucLy Railroad on,pdny:
GENTLEMEN: Your committee, acting
under the foregoing resolution passed by
your Board January q, 1871, would beg to
most respectfully report, that after very
thorough examination OF the books and
papers, aided by your Secretary and Mr..
II. II. Campbell, we find the financial con-
dition Of the company to be far from en-
couraging to those who desire to see an
early completion of the road. fssr- 81 /
4 70 give more comprehensive report of
the financial history of the company, your
committee have thought 1t best to not on
ly report as to the gross receipts and ex-
penditures since the organization of the
company, but TO divide it into three pc
RODS, and show how much was received
and paid out during each Of these periods.
In the first period we have included the
time from the first organization Ofthe COM
pany in 1854, up to the time ofits re-organ-
iZation since the war III January 1866, em-
bracing period OF about twelve years.
received and disbursed as follows:
RECEIPTS.
tions ...,... $500 SO
From County and City stock sub
scrptions, $500 600 in bonds, $297,-
800 Of which sold for l95,96l O6
Leaving 81 500 unsold.
State bonds IA, 29s 25
From freights, and passenger fare q, 1893 90
~ .- 1892 2a5 80
saeaa.aaa4a DISBURSEMENTS. sss-sss
Paid for construction. 1872 GA on
Paid for H. S4 ri
Paid for buildings. $40 IS
Paid for transportation maint. way,
motive power and nnaint. cars. ls, 7O6 30
Paid for salaries of offcers............ 29,S2l 90
Paid for interest. y, ~ %
Paid for expenses. 49,. 8. l0l "a
Cash Confederate currency on hand
charged to profit and io;s............- s54 SIS
.-.-.- -.---.---.-. D.. -,.,. S432, 235 IS.
During this time there was twenty 100.
miles of the road graded, nine miles of the
track laid, one locomotive and six freight
cars purchased-two were sold to f.. II. d
Va. r. r. Co., and four lost during the
war. ..-..I rr
. Our second report extends from January
1866 to January 1868, during which time
there was received and paid out in cash rs
per subjOined statement: I'D, .s.....r.r
REPORT FROM JANUARY 1866 TO JANUARY 1868
,H-.H d ..' RECEIPTS. '
From individual stock subscrip-
1865 l3
From State loan proceeds, 81, 10000 Al. .s-rr
State 925 $50 SO
From passenger fare and ffeights...4 1880 IL
From other sources, arising mainly
from conversions of cash payments
into bonds. .............., 25262 II
----------
gEfg .S9S6S77 "a
DIsBURsEMENTs.. ..
Paid for construction ............... 7S0, 4j5 20
Paid for equipment ....-........ 1891 65
Paid tor buildings. III Al
Paid for transportation, maint. way,
motive power and mainti ears-.S.. ,6s1 98
Paid for salaries officers and clerks. l2202 80
Paid for interest ...................... 57998 10
Paid for expenses. 3.....,...,,..,..,,.. 1902 -
Cash on hand delivered 70. successor S9S 30
t13ll0 OF HaHa adH E----
$685., 81 "a
During this period, from January 1866