The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-12-20

OF our Virginia cities, while it il sicnifcan,
OF an increased prosperity in the country
tributary to the line.
Inc expenses Of this department for the
past year were $685., 393. II, MS against ssl9..
Sso.a2-a positive decrease of S3G, 3s1 90, O,
SIX per cent. Comparing these figures by
the mileage OF trains, upon which the ex
penses OF this department are, more thar
any other, dependent. we find for the pas,
year that the cost per mile run by revenue
trains was 1877 cents, us against 1851 cents
Tor the previous year--a decrease equal te
nearly seventeen per cent. No higher eyi
dence coul be presented as TO the value o.
the improvements made. both in the road
way and equipment, during the past year.
The gross revenue Of tue line
for the past fiscal year was. 81 ,989, 053 OF
Its current expenses were..... 1,234.725 Il
Leaving a balance Of. ,........S73 1927 9.
us against 1867, 1875 for the previous year
an increase Of SS7, 100 81, or over fifteen pei
cent. This result may be taken ms an earnest
of the continuation Of that increase of bust
ness which has been heretofore predicted, as
consequent upon the restoration of the road
to n tirst-class condition, the enlargement Of
its capacity necessary to meet the demands
of q constantly augmentinS traffic, and tho
rccuperation Of the country.
During the past year the expenditures on
account of the further improvement of the
property have been:
On the Norfolk and Petersburg
DIVISION . 1851 &c
On the SouthSidc division. 49,. 42O,S12 AZ
On the Virginia and Tennessee
ulklSlul. -. . .,....IA... O41&UOS VI
III .Ll, IL l,UOZ III
after having placed to the credit of this
account the proceeds arising from the sale OF
old and worn-out rails. The benefits which
have accrued to the road already from these
expenditures arc inealculable, and are attest
ed no less by the regularity which marks the
movements of its trains than in the decreased
cost incident TO the conduct of its business.
III conclusion the report states: "During
the fiscal year the work of survey and loca.
ton of the proposed extension of your line
to Il connection ut Cumberland Gap with the
Kentucky railway system has been prose.
cutcd to completion. The time consumed in
this work was prolonged to Il much more
extended period than was anticipated, grow
ing out of the development of greater diff.
IttIllcs Ill tAt DlN SlCstl iStll ulCS vi JIG SOullll y
than we had reason to anticipate from all
previous reports upon the subject; and it
may not be inappropriate just hero to remark
that these are found to be such as to make
that aid on which we had counted at the
hands Of interested communities, backed by
their promises of such cooperation, the more
imperative.
1.-The line for that work has been eStab-
l;uhol on1 ~, NJ ,>nrt nyprx- sfnp tntnn IN
put the SINE to contract as soon as the time
Shall arrive when its extension is demanded.
The completion of our part of this line is
measured by the time necessary to make the
tunnel ut the gap, n work common to our
company and the Kentucky system, with
which it was originally designed there to
connect. and this must be taken AS forming
the great object. upon which alone the large
outlay its construction will entail could be
justified.
1--WE have significd to the proper authori-
ties of that company our readiness to enter
upon the performance Of this duty, aud as
early lis December last proposed to put the
tunnel to contract. We are now only wait
ing for notification Of their cooperation that
the work may be begun and pushed to COM
plction. The Importance of the route to be
established by this junction of the two roads
i 50 manifest that we are constrained to an
ticipatc Il favorable response ut their hands
at an early day.
In the mean time, another Of the several
interests, west of the Cumberland noun
tainS, known rs the Cincinnati, Corington
and Cumberland Gap railroad, which in the
very bc"innin. conspircd to fix this cOnncc-
ton of the Atlantic with the middle and
northwestern centres Of trade, by our Viz
"inia line at the Gap, has been revived and
promises TO t kc such shape as to lead to an
early extension of Il line Of railway from
Cincinnati to this wonderful pass of the
Cumberland mountains. Cincinnati, whose
ability 10 push forward to the earliest COM
pIction that part OF this project which yet
remains TO be done involves no more than
her mere Will, has manifested a concern
which may justify the hope of her giving to
this enterprise such material assistance as
may he requisite for its accomplishment.
The growing desire of that city to extend
her trade relations to southern territory ;
her increasing demand for iron and coal,
abundant and near to her by reason of this
connection, would seem to lie sufficient to al-
thorizc the anticipations of her material earn
est so confidently relied on by those charged
with the conduct Of this enterprise. Taking
the Kentucky Central road, already in sue
ccsSful operation, as Il part of this line, there
remains Of new work to be constructed but
about one hundred miles to reach the Gap,
and here, then, we would have the Queen
City Of the West, by Il continuous line of
railway, OF uniform gauge, within seven
hundred and twenty miles of the best point
on the MISUNDERSTANDING that, Us will
be seen, taking the ocean as her great ohiec-
tive, nearer than by any other line now open
or projected"
The report was referred to a committee CT
| fifteen; after which the meeting adjourned
until 4 O'Clock i. II.
ABOUT TWO HUNDRED STOCKHOLDERS
from along the line came down last night
From the Southwest l noticed Mr.. John NJ
Preston and Hon. Fayette McMullin. From
L~ynchburg we have Hon. Thomas S. Bocock
r. G. III. keun, and others. Farmville il
represented by Judges +. n. Watkins aut
Asa ID. Dickinson, and Mr.. Berkeley. From
Petersburg we have Mayor Wood, the Messrs
| Boiling, Mr.. McIlwaine, j. L. Fenable, ant
Mr.. Johnston.
Afternoon Session.
The committee of fifteen not being read!
with business at 4 o'clock the meeting ad
iourned to half-past : O'Clock at night, whei
r. G. II. Kcan, from the Committee on Bus!
ness. made a report expressing pleasure n
the gratifying exhibit of the material ant
financial condition of the road, as shown II