Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1871-04-01
THE CITY.
EDGEFIELD AND KENTUCkY=
RAILROAD.
Annual Meeting for Election OF Di.
rectOrs.
Action ON the states offer.
Resolutions Adopted.
Directors Elected.

The annual meeting of the stockholders
of the Edge6eld and Kentucky Railroad
Company was held yesterday, at the Court
house, to elect Directors for the road and
to transact such other business as might
be brought before them
On motion, Col. A w. johnson, of the
county Of Davidson, was called to the
chair, and announced the object of the
meeting. ea
The report of the President of the road
was then read.
PRESIDENTS REPORT.
The report of Mr. William Connell,
President of the road, during the fiscal
year ending Feb. 28, 1871, shows that Il Q
gross earnings Of the company for the ten
(l0) months amount to $SS, ,373 22, from
various sources, which are given in the re-
port. Three-ffths of these earnings were
Obtai ned from the passenger department.
From the reports of the superintendent
and President, it will be observed that the
whole of the net earninLs up TO Nov. l,
1870, after paying the operating expenses
OF the road, were appropriated as per an
act Of the Legislature, amounting to
S4,526, 4S paid to N. Hobson and others,
Since that time to March 1871, the excel 8
of expenditures, after paying the operating
expenses of the road, amount to 81, 4S4 10.
The report concludes as follows:
Tne expense of overhauhng and re-
pairing rolling stock has also been
quite an item. The extraordinary
expenditures thus incurred during the
past fiscal year seem large, as, indeed,
they are, and some explanation may not
be out of place.
At the beginning of the present admin
istration, it was thought advisable TO COM
pete for the South and Southwest travel,
as also for the carrying of through mails,
making it thereby, essential to place two
(2) daily trains on the road, in consequence
of which, a new siding was required at
GOodlettsyille, at a cost of $335 90.
The furnishing of new tires for three of
the engines was also found requisite, at an
additional expense Of 81, ,9O4, ,36.
Unpaid claims of former administration,
were assumed to the extent of 1856, Sc,
while the adjustment for use of track, etc,
at Guthrie, Ky, with the E. H. 4 n. K. R.
was remaining as an unsettled account
against this road. We succeeded in Sc
curing a settlement from the 1st of May,
1870, at a rental of SIPS 90 per month,
which we closed for the nine months,
making an expense Of 81, ,125,OO never
heretofore been allowed; by doing this
we secured the balance due this road
from the Evansville, Henderson and Nash
vile Railroad, amounting to $567.55, as
an excess of general accounts, being una
BILE to effect any settlement of accounts
without allowing remuneration for use of
track, etc, at Guthrie, the estimate be-
inrr ,oIa hv7f fha inta
Master, and based upon the legitimate ex-
pense of such facilities.
Much has been done toward improving
the condition of both the road bed and
rolling stock. The renewal of ties for the
ten months has been equal to the general
ity of railroads, doing more extensive
freight business. New trucks and wheels
have been furnished quite number of the
freight cars, and, in fact, all of them given
q thorough oyerhsuling. The character
and progress of this work is more fully
given in the reports of the Superintend- |
ent, Road Master and Master Mechanic, to
which the Board would respectfully refer
you. 1t is a fact generally known |
to the stockholders, that this road is |
dependent to q certain extent for through |
business, and as a connecting link the |
Evansville Henderson and Nashville Rail- |
road having Just reached completion to |
the Ohio river, we can certainly anticipate |
q material increase of business generally. |
In addition to the exhaustless coal mines |
''juSt tapped" the growing importance of |
ST. Louis, with her natural advantages, |
and with the early completion of the st. |
Louis and South eastern railroad, draining /
the finest sections of the West for the pro- |
ducdon of grain and stock, and her con-
Meeting facilities extending in all direc-
tons, is doubtless evidence of its becom-
ing soon the distributing route for the
great West, with the successful operation
Of this route approaching an air line, we
may be able to meet any competition by |
rival lines, that is threatened and add mate
rally to our present nett earnings. We have
also encouraging assurances of the early |
completion of the Owensboro and Russell
vile road, intercepting this road at or near
Springfield, Tenn, and connecting with
the Ohio and Mississippi railroad at Mitch
su, Ind, the Northern connection
rom that point being the Rockford Road,
whose total subscription, we are assured,
mas been secured.
The success of the Owensboro Road also |
opens up a vast coal traffic, equal to the
st. Bernard Coal Mines in every respec4,
both as to quality and dimensions, in ad-
lition to q valuable Cincinnati, Eastern
md Northern connection, and in compile
ion of the Louisville and Memphis air
ine, interceptipg the Owensboro and Rus
IellyiIle Road at Green River Crossing,
We have communication with Louisville,
)nly seven miles longer than via the Louis
lille and Nashville Railroad, giving there |
" access to some of the finest country in
kentucky, leaving no shade of reason why
Nashville should not be able to compete
With Louisville or Cincinnati for the traffic
# Southern Kentucky. The deficit of
Inscription at present on the Owensboro
nd Russellville Road is less than $780,
100, with fatteriDg promises of assistance
rom Cincinnati, In addition to private
recently rendered of $780,
100, leaves the deficit so reduced that ear
v completion can be relied on, by the is-
uance of first mortgage bonds, should |
hat become necessary.
In view OF these important advantages
nd of the certainty of their completing
heir road, we are already asked for a CON
ract that will insure them equal privileges |
nth other roads in the transportation of |
heir freight and passengers, which infor-
nation we have been requested to bring
efore the Board at as early day as is
racticable.
The reports of the Superintendent,
treasurer, and Roadmaster are herewith
ubmitted, and your attention is especially
1yited to them for more specific informa-
on in their respective departments.
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