Wilmington daily commercial., 1873-01-13
OUR RAILROADS.
Annual Meetings. Elections, and
Annual Reports.
WILMINGTON 8 WESTERN n. h..

WILMINGTON q WEsTERN Il. h.
The annual meeting of stockholders, and cleo
tion for officers, of the Wilmington Il Western
Railroad Company, was held at the Oompsny's
offices, lin this city, ct noon to-day. Jasi l..
Devou presided, and VIM. Fl. Oonnell acted as
Secretary. -
The various Annual Reports were read tothe
meeting. The following is the Presidents Re-
port: - -
Report of the Directors to the Stockholders Of the
wilmington d Western H. X. Company, ending with
the year 1879: rs y
In the presentati IN OF this annual report 1t is pro-
posed to give summary, in BRIEF OF our past years
progress our present condition, and OF our future
The Mortgage referred to In our last report, was
in due time executed, ahd bonds to the amount of
$500 900, bearing 3-10 per cent. interest," payable
quarterly, have been negotiated on terms deemed
unusually favorable to the Interests OF the Company,
and large proportion OF them have been taken by
individuals and corporatons ior permanent income
From the stock subscriptions to Ihe Company,
have already coected va $50 and are making psr-
slEtent effort TO realize finally and with prompt
not less than the proposed stock basis OF $3.50 900.
The pr0tracted cola and stormy spring OF 1872 the
unusually hard rock cutting and other causes com.
bined 10 delay the completion OF our graduation and
maj onry, and postponed the formal opening OF our
road until Oct 10Th, 1879, which was promptly fol-
lowed oct. 21st, 1872, by three regular trains each
way every business day, between Wilmington and
Your Company have at this time 10 90 miles Of
main track mostly well balasted, and In good,
smooth running order, $50 miles OF Bidings and
turnouts 70 accommodate the manufacturing, min
ing and the general business OF the Company,
se-lOO mile In the direction OF the ohrstlana haI-
from Wilmington to LandeHberg, for the immediate
use of the Company, and liberal arrangements with
the Western union Telegraph Co. for dispatching
20 and from all parts OF the United States, Freight
House, Building for Qflees and station Hoqse at
Market street., Wilmington, an Engine House,
Rlafkamith Ranar khOD. and Store HOuae. u ith
the BrandyWine water introduced thereto In West
Wilmington, neat aud convenient station Houses
with lots on the line of the road, all but Two com
pleted 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 TariI-table at Eandenberg, Bridge and
Watch Houses, about "a acres OF land in Whining
ton Qncluding 1910 feet on The Ohratiana River at
Third st. Bridge of really very great value, and In
dspensable the present and prospective needs OF
the Company, valuable gravel pit with priv
eges to add thereto by purchase, limestone grav-
Ell pile supplying large quantity Of excellent ma
teral for ballastng two acres OF pic mic ground on
the Red Clay cIees, Two Sther Small iotS aalea,
at Laudenberg conn ctlon direct TO the
Harbor Of the Chrlstiana, early prospective ad-
vantages OF track extension on Water street., in
wilmington, to Union Depot as French street, i'm
pOr ant franchises including chartered rights to ex
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 X. r. at any point
from Kennett square to AvOndale, ample and goOd
rolling stock, also a supply OF machinery, tools,
fixtures and material and appointments Tor the Var-
The damages for land are nearly all adjusted and
paid, cur fencing very nearly completed on the line
and our road bed contractors, with single excep-
tiOn, are settled with and paid in full.
In conclusion Il is gratifying to say that we nave
been met with liberal aud accommodating spirit
ia making business arrangements with other Rail-
road lines, that we are now In position TO accomm
date and develop local business TO negotiate for
mutually advantageous trade with connecting roads,
to make extensions as granted by legislative enact
ments at such times as the cooperative action OF par
ties directly interested on the line may warrant snch
e1tensioBs and especially 70 improve our vastly i'm
portant shipping facilities in the Christana harDor
and on the Delaware river, which may readily and
mington and 70 the great wants OF Interior Penn-
sylvania and the West, as speedy safe, and access
ibe ahipping narbor and entrepot on tine waters OF
the Delaware River.
It Is something tool Railroad history to be able
TO say that every and all expenditures of this Com
/ pany have been made for direct equivalent, that
we have full value received for all work and sup
plies, and that our road and franchises are to-day
fairly worth much more than the entire cost as rep
resented by the books and accounts the Company,
It 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 corresponding weekly interest the eDure
bonded debt Of the Company that the prospects for
the year 1873 are very promising and encouraging,
and that we have Good reason to- anticipate
a future history for our road greatly increased In
buslnesa In receipts, In extent of line and eonnec-
tions in accommodations, and in general usefulness
/ and prOnthDle rebullb.
The reports OF the Treasurer and Engineerln Chief
i are herewith submitted BY order OF the Board.
| J. T. HE AID, President.
The report OF the Chief Engineer recapitu-
lates the progress Of work on the lines the es-
tAblishment OF CONNECTIONS &C., and congratu-
lates the stockholders on the results achieved,
as being demonstrated by time to be satisfacto-
/ ry d
| The Treasurer's Report presents the following
balances, as they appear on the 1st OF January
Capital Stock ck.................$ $244, $3.50. 90 ,
| Bonds issued. ed................. 500, 10000
Bills payable, le,............,.. - 81, 7e9 90
Passage. 4,O37.04
| Freight. ...................... ,855 43
| Construction Account ....,,. 594, ,74O65
/ Equipment Account. ............ s7,4s7,49
Real Estate, Depots, &c........ 1.95
Operating Expenses, ,,,,,,0 .,s e,24S,96
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