Wilmington daily gazette., 1873-01-13
w. w. r. r.
ANNUAL MEETING OF THE STOCKHOLDERS OF
THE WILMINGTON & WESTERN RAILROAD.


Wilmington & Western railroad, was held at
noon, to-day, at the Company's Office, Exchange
Building. The report of the President, Joshua
T. Heald, Esq, was read as follows:
Report of the Directors to the Stockholders OF
the Wilmington & Western r. II. Company, end
ing with the year 1872
In the presentation of this annual report it is
proposed to give a summary, in brief. of our past
years progress, our present condition, and OF our
future probabilities
The Mortgage referred to in our last report was
in due time executed. and bonds to the amount of
SoOO,OOO bearing $40 per cent. interest, payable
quarterly, have been negotiated on terms deemed
unusually favorable to the interests of the Compa-
ny,and large proportion of them have been taken
by individuals and corporations for permanent IN
come investment.
From the stock subscriptions to the Company
amounting to something more than S25O,OO We
have already collected $244, $780, and are msking
persistent effort to realize finally and with prompt
ness, not less than the proposed stock basis of
S250,0O0.
The protracted Geld and stormy spring of 1872,
the unusually hard roc < cutting and other causes
combined to delay the completion of our grad ua-
ton and masonary, and postponed the formal
opening of our ROAD until Oct 10Th, 1872, which
was promptly followed Oct. 2lst, 1872, by three
regular trains each way every business day, be-
tween Wilmington and Landenberg
Your company have at this time 10 02 miles of
main track, mostly well ballasted, and in good,
smooth running order, 2.3O miles of sidings and
turnouts to accommodate the manufacturing,
mining and the general business of the Company
36-lOO mile in the direction of the ChristIana
Harbor graded ready for the track, a line of tee-
graph from Wilmington to Landenberg, for the
immediate use of the Company, and liberal ar
rangements with the Western Union Telegraph
Co, for dispatching to and from all parts Of the
United States, a Freight House, Building for
Offices and Station House at Market street Will
mIngton, an Engine House, Blacksmith and Re-
pair Shop, and Store House, with the Brandywine
water introduced thereto, IN West Whining ton,
neat and convenient Station Houses with lots
on the line of the road, all but two completed
Two Shed Stations with lots, one Stone House and
ground purchased for Station, an excellent Tank
House with superior water facilities, an Engine
House and Turn table at Landenberg, Bridge and
latch Houses about p acres of land in Will
mlngton (Including 1000 feet on the Christiana
River at Third st. Brdge) of really very great
value and indispensable to the present and pro-
sPective needs OF the Company, valuable gravel
pit with privileges to add thereto by purchase n
limestone gravel pile, supplying a large quantity
OF excellent material for ballastng, two acres OF
picnic ground on the Red Clay creek, two other
small lots adjoining Stations, Station lot and other
privileges at Landenberg, a connection direct to
the Harbor of the Chribtiana, early prospective
advantages of track extension on Water street, in
W Ilmington, to Union Depot at French street,
important franchises, including charted rights to
exte nd to the Delaware River and, for
eight mile branches in any direction in the
state OF Delaware, grants by Pennsylvania
Legislature for extension to Oxford, with branch
to Maryland line, and for extension to Baltimore
Central r. X. at any point from Kennett Square
W AVonualeS ample ana good rolling stock, also
supply OF machinery tools, fixtures and material
and appointments for the various offices.
The damages for land are nearly all adjusted
ana pald our fencing very nearly completed
tue line and our road bed contractors with a sin
gle exception, are settled with and paid in full.
In conclusion, it is gratifying TO say that we
have been met with liberal and accommodating
spirit in IN king business arrangements with other
Railroad lines, that we are now in a position to
accommodate and develop our local business, to
negotiate for mutually advantageous trade with
connecting roads, to make extensions as gaanted
by legislative enactments at such times as the CO.
operative action of parties directly interested on
the line may warrant such extensions and espe-
cially to improve our vastly important shipping
facilities in the Chrstiana Harbor and on the Del
awre river which may readily and cheapy be
adapted to the commercial needs of Wilmington
and TO the great wants of Interior Pennsylvania
ald the West, as speedy, safe, and accessible
the Delaware River.
1t is something, too, in Railroad history to be
able to say, that every and all expenditures of
this Company have been made for n direct eouiv-
alent, that we have full value received for all
work and supplies, and that our road and fran
ehises are to-day fairly worth much more than
the entire cost as represented by the books and
accounts of the Company.
1t must also be comfortably assuring to
those who have invested and shown faith in
this Enterprise to know that the gross earnings
OF the Company, on the sixth week of its
running was more than equal to the corres-
pOnding weekly interest on the entire bonded
debt ofthe Company, that the prospects foT
the year 1873 are very promising and encoura-
glng. ans that we have good reason to antici-
pate a future history for our road greatly
increased in business, Ia receipts, in extent Of
line, and connections in Accommodations and in
general usefulness and profitable results
The reports of the Treasurer and Engineer
in Chief are herewith submitted. By order OF
the Board
j. T. HEALD, President.
The report of the Chief Engineer, John q
Jackson, Esq, Was also read, showing the road
to be in good condition with about % miles o
track, including sidingo, &c. The rolling stock
| Of the road consists Of three locomotives, three
passenger cars, two mail, smoking and baggage
| cars, ten house, ten gondola, and ten freight
| cars. The connection with the Delaware and
Pennsylvania Road, al Landenberg is also an
nouBced.
From the report Of the Treasurer, VIM. II
Connell, Esq, We extract the following:
Capital stock, $244 1880. 90
Bonds issued 500 600 On
Cost Of construction, 594.74OC5
Cost OF equipment S7,4s7 40
Real estate, depots, buildings &C. 49.141.9S
| Interests on bonds, IS,S8272
Operating expenses, 6,2489
An election for Directors was then held with
the following result
J. T. Heald, VIM. h Swift, r. E. Robinson,
job II. JacksOn, Geo. q. LObdell, w. G.. Phil
lips, Geo. 3. Springer, Allen Wood, VIM. +.
Garrett.
The meeting then adjourned.
/ Thn RoaRd nf n;ra.en-. ,.o.t A. ..o~.o.,