Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1872-11-27

be disregarded in its operations it has to meet
the competition of rival lines and be carried at
low rates Local freights can be handled at pay,
ing rates and furnish in the loog run the sub
stantial profits and support Of railroad lines
everywhere, and especially in Virginia. \
striking instance of the results of this policy of
local development is furnished in the recent
operations of the PHILADELPHIA aud Reading
Railroad Co. That road few years was doing
an unremunerative business, and langulshing
for support It's policy was changed and the
attention of the company turned to local devel-
opment. Large bodies of coal lands were pur.
chased, lateral roads built, and every source OF
local wealth developed, and the company has
since gradually emerged from its financial diff.
culties and become one of the most prosperous
railroads in the United States. Not content
with its own direct OUTLAWS the Philadelphia and
Reading Railroad Company. it is understood,
furnish one half Of the capital to any party who
will construct new furnaces in the Schuylklll
Valley along their line of road. 1t Is matter
of regret that this company is restricted by us
limited means and want of capital from adopt
ing similar liberal policy towards the deVel-
opment of the many sources OF local value
along their line and thereby increase business
and promote the prosperity OF the country
trading to it. But as this is beyond the ability
Of the company at present to accomplish o.
rcctly it can only adopt such measures and Of
fer the best facilities in their power to lndlvld-
uals and companies as will assist IN the &C.
comrlishmeut Of the results referred to, and
promote future local development OF trathc up
on its road As the Baltimore and OHIO hai-
road Go. is now SO largely interested IN this,
and other important railroad lines 10 Virginia,
L Il. IL of, no obi nd
gaciouS President Of that company will be at
tracted to the subject and the influence of his
powerful corporation brought to bear in its be-
half If this could be accomplished and the
Baltimore and Ohio Railroad Company induced
to adopt the policy indicated and contribute to
the direct development Of the resources Of \ ir-
ginia, it would derive large profits from the IN
vestment required-promote immensely the
public prosperity and secure for its corporation
a prestige and popularity with our people which
no rivalry could hereafter assail or competition
disturb in the future.
The operations of the road and details OF
transportation are presented in the special re-
port of the General Transportation Agent, lr.
Fisher herewith submitted.
The condition of the road and equipment
will compare favorably with any preceding year
During the past year eleven hundred and five
and half tons OF new iron lrailsl have been
put down and Sixtv.fuur thousand new cross
ties laid on the track The bridges across
North and South Hardware Rivers, and at
Mountain Run have been renewed. \ num-
Der of water stations have been built or renewed,
and new depot building constructed at Front
Royal 4 new station house built tor Fairfax
is in progress of construction. and several others
are required on the main line Of road which
will be put up as soon as the means of the
company will warrant the outlay. The COM
pauy owns twenty FIVE locomotives, all OF which
are in use aud running order. The company Is
possessed of the following other equipment viz {:
Passenger cars, p; baggage and mail cars, 9;
postal cars, 5: freight train passenger cars !;
box cars, 2l1; conductors and boarding cars, D;
platform cars. =: stock cars, 50. Total, 42O
cars.
OF these postal. and one passenger, twenty
one platform, and three stock, cars have been
built at the shops OF the company during the
year. \ new tirst-class locomotive (trelght)
has been built in the shops of the company.
which reflects credit on the machinery depart
ment of the road \ further enlargement of
equipment will be necessary to supply the
growing business of the road, and to meet the
demands for increased transportation conse-
quent upon the completion of two imp 'rtant
connections Chesapeake and Ohio, and
the Lynchburg and Danville, Railroads, now so
near at hand This important branch of the
organization has been diligently administered
and the equipment worked to its full capacity.
Both the working and machinery departments
deserve credit for the success and favorable
results which have signazed the operations of
the road for the past year.
FINANCIAL DEPARTMENT
The returns of the state Of the company and
general account oft financial operations for
the year ending 3oth September, 1872. certl-
fed by the auditor are herewith submitted.
The following analysis will show the present
general financial condition of the company.
In the form of permanent and funded debt
secured by mortgage, there is authorized of
principal, as follows
Aggregate amount Of mortgage