Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1871-09-07
Leaving ordinary expsnses,..S 725,

Against which the road owns 270 miles
of main track; 90 miles of sidings and a
good equipment.
The seven per cent. bonds So, 500, 900 were
applied to reducing the debt created by
cancelling the debt to the State of Tennes-
see. The seven per cent. bonds bear date
July 1st 1870, and mature on 1st July,
1900, and are secured by first mortgage
on entire property of the road An annual
sinking fund of one per cent. must be
applied to the retirement of these bonds
beginning on 1st of 1872.
The item of SS7, 800, 96 claims against in
dividuals includes the claim of $50, $50
against Powell, Green & Co., which is not
available. Here, then, follows state
ment of the unsettled account against the
estate of Jno. r. Branner, which, thus far,
Mr.. Wilson says they have not been able
to settle.
lsThis claim amounts to $13,547. Mr..
Branner holds the company's note for $25,-
600, but as set-Off the company claims
that Mr. Branner holds S14, 900 in Tennes-
see, and $4,000 in n. and G. r. R., bonds
for which no satisfactory settlement has
been made.
The claim against the Government, Mr..
Wilson says, has not yet been settled,
though in process of compromise.
The condition of the road has been i'm
proved and the number of accidents greatly
decreased. The policy of the officers has
make it first-class road, able to do the
business it is likely to receive.
In the last annual report, it was stated
that the officers of the Company while
operating the road, had kept in view the
interest, development and prosperity of
the country through which it passes. This
we think, is the true interest of both the
road and the country, and this policy has
been steadily adhered to. Notwithstanding
the spirit of liberality and fairness which
has animated and controlled the operations
of the road, yet there has been complaint
on the part of some of its patrons who
have felt themselves aggrieved because
lower rates were charged on freights pass
ing through to distant points than was
charged on freights to local stations.
This we think results from want of
proper understanding of the principles up
on which railroads are usually operated.
This subject has been so clearly treated of
by Mr.. Albert Fink, Superintendent of
the Louisville and Nashville Railroad that
we reproduce his article and commend it
to the careful consideration of all who feel
that other sections of the State and coun-
try are being built up at the expense of
their own. Mr.. Fink says:
Although it is generally conceded that the
transportation of large through business over
the Road must provo remunerative to the Com
pany, the fact that local interests are thereby
also greatly benefited is hardly ever apprecia-
ted. 1t is no doubt for this reason that local
shippers consider it an act of injustice to them
the builders of the Road-that the Railroad
Company transports freight coming from dis
tance, or in other words through freight at
lower rates than is charged for local freight.
They argue-and to those who are ignorant of
the principles which govern the case their argu-
ment must appear plausible enough-that the
people who contributed their means towards the
building of the Road should have the prefer
ence over those who never furnished a dollar
for its construction. Were it merely a question
of preference this should certainly be the case.
But in reality the question is this Shall the
through business be secured to the Road, or
shall it be permitted to pass over other routes?
1t is evident that if the rates are not made to
meet competing lines of transportation, this
class of business must be lost to the Company
altogether During the past year this Company
realized from through business alone the sum of
ssh 1856 76. of which 58 76-100 per cent. was
expended in operating the Road, leaving net
profit of 1886 213 81, equal to SO 47-lO0 per cent
! Thus people living at distance, who had moth