The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-12-20
ATLANTIC, MIsSpSSAD.
IMPORTS AND PROCEEDINGS.
rsrccial telegram 10 tho Nspatch.l

,,a or the stockholders OF the Atlantic, Mis-.
,Ss,rni and Ohio railroad WAS held in this
,itv to-day. Hon. Thomas :. Bococ& was
elected president. A committee on proxies
os,trg appointed, rcportcda quorum Of shares
ngc>cn. or represented by proxy
HyroRr OF rRESIpENT ANT DIRECTORS.
The annual report OF the Board Of Direc-
.ors WAS presented by General Malone. and
:, an interesting statement Of the operations
- me Co;npanv FOR the fiscal wear ending on
,rg seth of September. II appears that the
FUNDED G:H; a->iimcd on account of the three
a,,,>ioN> Of the road remains limos un-
,,qoccd. except that ST., 900 of first mort
,,,,r bonds. known ns interest bonds Of the
NIrgalk and Petersburg division. which ma
tered on ;hc ist cf january, 1872. have been
n3;l, and the past due indebtedness Of the
Snath>idc division reduced 10y = 900. Tho
nominal increase Of $1,000 on account of
The Vir2inia and Tennessee division is for
u>t dur coupons funded into coupon bonds
r1pIrr prCNi>tin- arrangements, and is. i'll
lgr;. no increase Of Indebtedness.
Ey the terms OF The law authorizing the
tsrrIn million loan. IN amount of bonds
,u,l, 10 the bonded debt al the old c0mpa-
uir> i required Ia be Set aside, and for this
pi:,o,c five and Il half millions Of the loan
have been placed. n provided by the terms
Of the mortgage. O. the remaining nine and
- half millions 4 sufficient amount has been
disposed of upon European markets to meet
Every demand which hes arisen in further
aArr Of IL ~nti,rtS, under y vigorous pro>ccu-
ZION Of the same.
Daring The past year the former floating
debt of S2.%07. 293.j,. which had been i'll
great part incurred on account of the rcSto-
ration Of The property. in anticipation of this
loan, has been ]liguidatcd S42 5000 Of Norfolk
and Petersburg bonds retired 81. 15S, I3S.5i
extended IN the restoration and improve
mat Of the property; leaving Yet on hand
* the close ol the fiscal year 81 ,599.54!.0G.
The floating debt reported ~ outstanding.
- wei, u the assets tdCnoulnated bills re-
uclyabie on open accouni), are the legitimate
results Of current business transactions. aud
are not in the nature of outstanding liubili.
ties or assets, III the usual acceptation of
those terms.
The operations Of The road department for
the year show the progress attained in the
reconstruction OF The roadway and its APP
rtndIgcS 10 Il iir>t-claS> condition, The sum
Of SJ09,3j9.7j has been expended by this
department IN the furthcraacc OF this object,
a. follows:
on the Norfolk and Petersburg
division. G7.G9S 90
on the South>ide division...... 81 ,1Gl 81
on the Virginia and Tennessee
division 5o3,791 %
------
III all. S009,2J0 10
On the Norfolk and Petersburg division
The WORK uf graduation has been extensively
prosecuted eleven stone culYerts erected
where wooden t~rc-tlcs had formerly been.
~" ~trr>tle> removed and the road bed TILED
70 grade over the culvert> stone piers and
Hbutmeut> built at Copper Ilonk, Warwick
swamp, aud Bakers Mil: IN iron-girdcr
bridge erected at Copper llonk: 2o,9SG
cru>s.tic> put down; the substitution OF the
,tring Joint applied to seventeen miles Of
additional track; 2,02J feet new street rails
laid on Whitewater street. Norfolk the
bridges along The line r"Imintcd and put in
order; the work of balla>iin@ largely pushed
forward new hol>cs for section masters
erected ri Norfolk, Dismal swamp, the canal,
lyOr. and Wavcrly and I new iron tank,
resting on a brick base with :; stone ioull-
dation. constructed at Iuni, supplied 10y
steam power and capable OF furnishing
100 gallons Of water per hour.
TN the Soutl>idc division. much has
been done in tn" matter OF graduation : the
lyad-hcd tIIcd TO grade over the culycrt>
erected At curve trc>tIc. the canal locks near
Petersburg. and near the Island at Lynch
burg; Il stone culv"rt constructed 1t .App1-
mlltDX; stone abutmcnt~ built II StlGar-Mllt
creek. Buffalo creek, and the APPROXIMATION
river wear tarMNillC. upon which handsome
iron BRIDES have been substituted for the
-.---l 80 ,... ,.. .,,-, I,4. -, ,... go, lra-a
streams il.3G miles OF track ialla>tcd. aud
on - additional mics the work OF hHlia>tiug
has been completed. By increased width and
proper depth $3.50 cro><-tirs laid: over
I4i miles OF new English rails put in the
track manifestations cnlargedand improved;
Hcw dnp0t erected ut AppOna,t0X, that
at Blacks and Whites enlarged, aud others
on the line repaired and rcpaintcd;
Il wharf built at City Point; the
machine shop III Petersburg enlarged, and Il
new s]cction.housc built on the City Point
branch. On the Virginia and Tennessee
division the work of graduation has been con-
tnued: stone culycrts constructed ut Lowry's
and in course OF construction at uolcombc's ;
stone pier, and abutmcnt> built at the first
crossing OF the |lIol,ton and Dunns, near
Abingdon lhirty-thrcc >trin%cr, two ~trc>tle,
and tour arch beam bridges erected, and the
bridges on the line generally repaired !;
llG,S29 croS>-tics put down; 3l.3 miles OF
track lallaStcd. and on Is miles additional
the ballast widcncd and completed; .I.3
miles new English iron and 30 miles new steel
rails laid a new Depot erected ut Liberty.
and new depots at Gisli, Big Lick, ana
Dublin in course of construction three
water-tanks, 81 cattle-guards. three employees
houses, and other minor buildings erected
on the line. The work OF Improvement IS
still progressing, and its effects on the eco
nonical and safe working ot the line are
visible even now, while the future promise
IS full Of encouragement.
The expenses OF this department for the
past year were S2J2,29S.4l-a nominal IN
crease of S3l, 1881 over the corresponding
results of the previous year: but measured
By the service Of engines and cars Tor the
past year the cost was 21.l0 cents per mlie
ran OF trains, as against 1888 cents tor the
previous yclr-an insignificant increase NOT
amounting to one per cent.
In the machinery department during the
past year there have been added to the roll
ing stock of the Norfolk and Petersburg d.
vision ten ditching flats to the Southslde
division one mail and express, "A box cars,
20 ditchin" flats, and l Mason locomotive;
10 the virginia and Tennessee division 80
blX, IA stock, and 45 fiat cars, and : Ma
.on locomotives !; all Of the patterns stand
ard TO thi. road. The passenger equipment
was increased by NO complete trains and
thrre United States postal cars. Two OLD
aud WORKOUT engines (and Three others III
part) have been entirely rebuilt in the com
pany's shops, ranking in every respect as
1irst-class machines, the COST OF winch mas