Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1871-06-17
REPORT OFeTHE COMMITTEE. >

us iiifuIl for this issne.1NA a3VIa 5lMht
.REPoRr oFsrHE eoMMfTTRE.ls
At a meeting of the Board of Directors
of the Knoxville and Kentucky Railroad
Company held January ,-ls7l, the follow
ing resolution was adopted:
ION motion of Mr.. Ct. w. Ross, it wal;
ResoIued, That the Executive Committee,
in connection with theDfheers ofthe-com-
pany,y be requested to make thorough ex-
animation into the condition, and to make
full and concise report of such investiga-
ton at a 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 ofsaid Executive Committee shall
be paid five (S5) dollars per day, for every
day actually engaged /; that said committee
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: Z. j.
Sanford, DR.. John Fouche and J. c..
Chiles."
To tie Directorsof the Knoxville. and Ken
tsfcky Railroad Company; -s,-.,..i .,..rr
GENTLEMEN: Your committee, acting
under the foregoing resolution passed by
your Beard January6, 1871, would beg to
most respectfully report, that after very
thorough examination OF the books ana
papers, aided by your Secretary and Mr.
r. III. 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 roadsot 1ra yodT
To give more comprehensive report of
the financial history of the company, your
committee have Thoughtful best to not on
ly report as to the gross receipts land ex
penditures since the organization of the
company, but to divide it into three pc
RODS, and show how much was received
and paid oout during each of these periods.
In, the first period we have included the
time from the first organization of the COM
pany, in; lS54,upto lifetime ofitsre-OFgan-
ization since the war ih January 1850, em-
bracing period of about twelve years.
During tbs kme We find the eonpany
received and discussed as follows:
RECEIPTS. -
From individual stock subscrip-.
From County and and City stock sub
scrptions, $500 900 in bonds, $297,
800 of which sold for l95, 96l O6
Leaving %, 500 unsold. gsSs,s,
From State aid, proceeds $4,000,
State bonds. l4929S 70
FROM freights. and passenger fare. 2S,S9s 90
From other sources. 527 70
II ~ e. S4s2, 235 80
! sDisBuasEMEsrs.
Paid for construction. 1872 6s4 OF
Paid for equipment. n,OS4 Sc
Paid for buildings 24O DO
Paid for transportation, naaint. way,
motive power and naiIlt cars.-.- IL, 7O6 %
Paid for salaries of officers.r 29,S2l w
Paid tor1lnteresty..- ..."'' ZaIdZ 90
Paid fouseSpenseS ...s... 9,l0l 81
Cash (Confederate currency on hand
charged to profit and loss. S54 55
Ls;llia1s58 dir 5fe1 sii 8. e,iiafrsS4 235 SO
During this time there was twenty coy
miles of the road graded, nine miles of the
track laid, one, locomotive and six freight
ears purchased-4two were sold to E. 7. IL
Va. r. r. Co., and four lost during the
VAL y = -I'sIDsT7E =.
Our second report. extends from January
| 1866, to January 1865 during which time
there was received and paid out in cash as
per subjoined statement .,,5 7'oH 7H'a. '~l
REPORT FROM JANUARY 1866 TO JANUARY 1868.
.7zeaTrzvT .st'r'zR RECEIPTS.
From individual stock subscrip- =
tons... To- boo 10
From State lean proceeds, $Ll2O, 600
State. bonds. -. ~ =. 925 gS9 81
| From passenger fare and freights..... e, 800 l6
From other sources, arising manly
from conversions of cash payments
INTO bonds 70 10 Ii
.stasds T2U9OI nNb EJ6 $685. s77, "a
DISBURSEMENTS.
Paid for 400 20
Paid for uipment................. SO, 391 65
Paid for buildings 1,l77 Al
4 Paid for transportation, maint. way,
motive mower and malnt. carS..,..,,, GIL 6Sl qS