The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1872-11-21
LOCAL MATTERS.
Richmodd, Fredericksburg and Poto-
mac Railroad Company.
FORTAETH ANNUAL MEETING OF
STOCKHOLDERS. -

STOCKHOLDERS. -
The fortieth annual meeting of the stock
holders of the Richmond, Fredericksburg
and Potomac Railroad Company was held
yesterday ut noon at the office of the COM
pany, corner Of Broad md Eighth streets.
Mr. Edward Y. Cannon was called to the
chair, and j. b. Winston, ESD, appointed
secretary. Messrs. John A. Robinson and r.
L. walker were appointed committee to
examine proxies. When the committee re-
ported 1t appeared that the whole number
of votes which could be given was 7,46l, of
which there were present 6S37.
REPORT OF THE PRESIDENT. -.
The report of the President for the fiscal
year shows that the income of the company
has been: From transportation, $685., ,9sl.0l; !;
from rents, S6.143.2S and from investments,
81, I95; making ali aggregate Of 1881 ,919. 30.
Compared with the revenue of the preceding,
fiscal year an increase of $S5, 1923 will be.
observed, due chiefly to larger number of
passengers transported between Richmond
and Washington. An increased amount of
local reiShtS is also shown. To this subject the
Board bave given much attention, being desir-
Gus of faffording every reasonable facility to res
idents in the country and towns on their line
On the 1st May the road to Quantico was
opened to the passage Of trains, diminishing
the time between Richmond and Washing
ton. The advantages anticipated from this
extension of the road have to some extent
been realized, and the Board feel assured
| that the future the stockholders will have
ample reason to he satisfied with Its results
Already 1t has been the means of enabling
the Board to guard the independence of the
company, and to maintain for themselves
and the public old connections; whilst new
ones have been formed: The road was III
excellent order when opened, and has con-
tinued SO. The report next alludes to the
opening of the all-rail night line on the 18th
July, the arrangement being made with
the Alexandria, Fredericksburg, and Balti-
more and Potomac Company's line, and the
cars have been regularly run by this line be-
tween Weldon and Baltimore. The Board
determined to continue connection with the
day steamboat line on the Potomac,
the favorite route to the passenger, affording
rest to the traveller after tedious rail- DAD
ride. So far the company has experienced
but little advantage from their connection
with the railroad companies north Of Guam
tico beyond what they enjoyed in connec-
| tlOu " i OtOuldC stcotllClS, Uut III GHC
future, when the Baltimore and Potomac
railroad shall have been extended into and
! through the city of Baltimore, it is believed
that freight may be conveyed by the all-rail
| line at such rates as will produce large and
valuable freight business not only between
Richmoru and Baltimore, but also in con-
nection with roads to the south of Richmond.
Such trade, it is believed, must eventually
be obtained. In this connection it is most
proper that the Board should notice the &C
ton of the City Council of Richmond in re-
lation to the company's depot. Apart from
the fact that the present location Of the
depot has been so determined by legal
enactment as to cause the Board to
doubt if the company have a right to
change. ii even were they anxious to do so,
it is necessity that the depot should be To-
Gated near to the business portions of Rich
mond II the company are to look forward to
building up business with Richmond valu-
able to themselves and to the city. Whilst
| the Board believe that the Richmond, Fred
ericksburg and Potomac railroad is destined
| to enjoy large freighting business passing
between the North and South through Rich
mond sooner or later, as they may meet with
equitable and unhampered cooperation from
the companies to the north and south, west
of their line, they would be unwilling to c,ll.
tivate these interests without at the same
time affording to Richmond itself such equi-
table relation Of rates as will enable its mer-
chants to use their road to the same advan-
tage as it may be used by residents Of more
remote districts, and thus cultivate to a
greater or less extent that local prosperity
which must rebound to the pecuniary inter-
est of the road. But to effect this, and to
create of the road feeder more or less im-
portant to Richmond, and not mere
highway through Richmond, the terminal
depot of the company, should be located us
nearly as possible in the midst of its business
men, and not one or more miles away from
them. The Board therefore consider 1t to
have been unwise in the City Council t0 i'm
pose restrictions upon their traffic with a
view to obliging them to abandon their pre-
sent location until the city shall have afforded
one equally as central and as good. The
Board have therefore determined for the pre-
sent to continue their terminal depot as a
freight station, and very much enlarge its
cancity ny the removal immediately of por-
tons of their shops to suitable point which
has been obtained beyond the city limits. In
using the depot the Board will, however, EN-
deavor to meet the wishes OF the Council IN
all respects that may be practicable.
For the past years since the war, ana The
reco, cry from the disasters it caused, many
events aGvers, to the road have prevented
lit from returning fair interest upon the In
vestment in it. but the Board have great con-
| fidcuce in its future.
With view to offer great inducements to
persons residing on the line of the road to
use it constantly, coupon family tickets have
/ nj, n, cola of fIa low rot a nf NJ
and half cents per mile. These tickets, il
| is hoped, will induce people to settle along
the line and create more activity amongst the
old residents. .g M
! The report was received and approved.
GENERAL sUPERINTENDENr's REPORT.
The report of the efficient General Super.
| ;nteudent, Major L. I. u. Myers, who has
SO faithfully discharged the duties Of bis
office, was next submitted, received, and ap-
proved. The following is his interesting
report: .z. ~ 49, -.
cent dividends on investments In stock and
| rents for real estate has been for the year
ending September 80, 1872, $34O, ,545.l3, and
the expenses during the same period have
been $a05, ,999. 40; leaving difference OF
s1S4.545.64. The expenses have been 6Os
Der cent. of the receipts.
"a comparison with the business of the
nreceding year is encouraging, for 1t shows
That the gross revenue from the same sources
was less last year by S26, ,706.39, and the ex.
nenses were G47-1O OF the receipts. The net
increase in revenue is S23, ,666.90.
"That there has been no deterioration in
the property OF the company Is evidenced by
Its condition, which, at the lowest estimate