The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-11-29

Raurosss-
!! fEroin the naltimoFe SUR.

A. - ~lfss
r,eetgng If the stockholders of the Alexan-
hcra fo-day. a large number Of strangers
from fine inner country were in town, add
;na much to the Iiyeliness Of the streets. !,
The Committee on Proxies reported full
quorum present, and the president, JUL ,. ..
the most salient points OF winch arc Dc Aoi'
lows:
The business of the road has been rela-
tiyeIv well maintained during the past year,
and its earnings are in excess OF those OF any
preceding year. The receipts for septem,,
her. the last month of the fiscal year, wouia
have further increased the aggregate result II
the rolling stock of the road had been SUI.
ficient to meet the prompt transportation Oh
freight offered, and which had to await ,, Ihe
onepations of the succeeding month. Inc
nrcsant equipment would be adequate 10
n p,ent the demands of transportation II the
offerings of freight could be distributed uni
formlv through the year. But it seems that
the hulk of the freights required to be trans
norted for both the producing ana COY,
snminc classes doing business over the foaa
il wanted at the same season, overtaxlns us
continent at one period and leaving IL un-
ernnloycd to n considerable extent the rest OF
the wear, The company, however, Is gradu'
ally enlareine the capacity Of its equipment,
ns its means will permit, to meet the IN
creased and increasing demands of Its frelsht
traffic, and expects to be hereafter prepared
to sunply its necessities for prompt trans
portutlon as offered.
The following statement will show the re-
GENTS of the company. Gross revenue LOT
18I1-,72. S9SS, 371.14; for 1SIO-'l1, S3lo,
e9J 93-S75 ,O75.21 increase. Working eS-
pensns for lS71-'72. S5S4,I12.7O; for lsIo-
III Sl53,7G0,22-S3l ,0l2.4S increase. Net
revenue for 1S71-'72, S403 ,59S.44; for 1911
~. S359, 535.7I-Si4, 062.13 increase.
4 new and important trade between Rlch'
mond and the West has been opened over our
lime r,jo Strasbure and the Baltimore and
Ohio railroad, which has amounted durins
tha oar TO nearly $4,000 tons. The returns
show 4 small decrease in local tonnage, is
compared with last year, to De accounted iol
bv short crops and unfayorable seasons lor
the producing interests CT the country ulDt'.
tary 70 the line of the road. The company
has to rely for much of its local tonnage
mon agricultural productions, and wouid
have itSematerial prosperity greatly prolnoteo
Inv the opening I'D and development OF mine
raj resources and establishment OF manuiac,
lures along its line of road, which woulu
afford constant and regular transportation
during the year. 49,, ro,,
As The baltimore and Ohio Railroad Com
pany is now SO largely interested Id tili' ahu J.
other important railroad lines III virginia u
NAV be that the attention OF the aple anu sd
gacious president of that company WIN NC
attracted to the subject, and the influence OF
his powerful corporation Drought u uetli ~
IFS behalf. If this could be Accomplished
and the Baltimore and Ohio Railroad Com,
panv induced to adopt the pollcy lnulcalev -
and contribute TO the direct ue'elopllSlt; VI
the resources of Virginia, it would derive
large profits from the investment requn.u'
promote immensely the public prosperity;
and secure for its corporation PresliSc "li''
noD,larty with our people which 10 rivairy
co,,II hereafter assail or competition disturb
in the future.
The condition of the road and equipment
will compare fayorably with any preceding
wear. During the past year eleven huhofeu
and five aud Il half tons OF new iron rallS
have been put down, and siNty-tour thousand
new cross-tcs laid on the track. The bridges
across North and South Hardware rivers
and at Mountain run have been renewed
A number of Water-stltiOnS have been put't
or renewed, and Il new depot building con-
structed ut Front Royal. A new station
house, built for Fairfax, is in progress OF
construction, and several others are required
on the main line of road, which Will he put
I'D as soon Us the means Of the company VIII
warrant the outlay.
An enlargement Of equipment will be ne
ccssary to supply the growing business OF
the road aud TO meet the demands fer III
creased transportation consequent upon the
completion OF two important connections
the Chesapeake and Ohio and the Lynchburg
and Danville railroadS-nUw so neal at hand.
This important branch of the organization
has been diligently administered, ana the
equipment worked to its full capacity. BON
the working and machinery departments de-
serve credit for the SUCCESS and favorable re-
suits which have signalizcd Lie operations
of the road for the past year.
The permanent and funded debt secured
by mortgage on the road, there is authorized
of principal S3,G22, GG4. There is also bal
ance on loan from the State Of Virginia OF
$4,000 Temporary debt due to Septem-
Der 30th, 1872. is S409, 4s7.06 other debts
subject to funding or composition with cred
itors in different shapes, S2,c59, 043.64.
Against this Indebtedness the company holds
assets in mortgages due by connecting COM
panies, due by the United States Post-o1ice
Department, by banks and delinquentS or
original stock subscriptions, balance in Viz.
ginia stock, bills receivable, cross-ties and
materials purchased, but not used, total OF
1854, 02S.9O. The company is also indebted
to the Baltimore and Ohio Railroad Company
for bonds of the State of Virginia to the
amount of S1SS,475, borrowed to pay the first
instalment on the purchase of the States
interest in the company under the act of AS
sembly passed for that purpose, and for the
payment OF which it was agreed that the
stock so purchased should he transferred TO
the said Baltimore and Ohio Railroad Com.
pany.
The company has not been able to make
much progress in their proposed scheme OF
purchasing and settling lands along its line
of road. Some ten or twelve thousand acres
of land have been purchased in the counties
of Nelson and Amherst at an average cost o!
SO per acre near the road, and negotiations
arc pending for the purchase of other lands
in the counties Of Fauquier, Prince William,
and Culpeper. If lands can be secured Ill
reasonable rates there is good reason to an
ticiDate their early settlement by small far
| mers from the northern States and from
Europe. A corps has been organized for
this department and we hope to be able to
report favorable progress hereafter i'll this
| important department Of the service.
| at the last annual meeting the company
accepted the act of the General Assembly Of
Virginia, approved July IA, 1871, to author.
ize the consolidation of the Orange, AleXan-
dria and Manassas and Lynchburg and Dan
vile Railroad Companies, and empowered the
directors to negotiate suitable terms of con-
tract with the Lynchburg aud Danville Rail
| road Cnrnnanv and rpnnrt the Samn To FL.