The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-12-11
S2,p21,9l7 Z
60. t .-s.E
5e3,229
234,278
d1 QS1
Leaving as against former
balances, about.".-.,...".

Leaving as against former ..I11t
balances, about 80 Sz,o4u'Zoi
The net income, of the company the pres
ent wear is equal toe per cent. Oh s. ,46O,'
O0O with a reasonable certainty of large
and continued increase from the contribu
tions of new business now just beginning
to be realized, which can and will be con
Quoted with comparatively small increase
in the cost of operating the line. This JUS
tifes reasonable confidence that with the
restoration Of the usual business activity
the progress of the company and It's inter
ests to prosperity and independence Will De
steady and assured. In this regard no ex
trayagant estimates or expectations are made
or entertained, but if the history OF nearly
all great improvements going through their
inevitable period Of development and con,
seouent hardship is to be relied on IN regard
to this, we cannot fail to realize just mea'
sure Of success in the early future. In this
connection the Board reports to the stock
holders that, with the view of enabling
the company to meet its current wants
and protect its credit, it has been
deemed advisable and material to create 9
second mortgage Of the company's property
to secure an authorized issue Of bonds, not
to exceed 81, 100000, and bearing interest al
six Der cent. In August last the Board,
under the advice of the company's counsel
as to the authority of the Board so. to DO
authorized and ordered the execution o
snch deed and the preparation of the Sc
cnrities therein provided for. This has beer
accordingly done. The Board was unanl:
mously of opinion that this was q necessary
and useful employment Of the company,s
credit under the circumstances, and suose'
Guent events confirm this opinion.
II becomes a melancholy duty to report to
the stockholders the death since, the last an
nual meeting of one of their most valuable
and lopp.trusted representatives of the Boarc
OF management. N...
John L. Edmunds, Esq, of Halifax, iel
MANY years consecutively o. director OF TINS
comnany. died at his residence, in thai
county, in May, 1878, ending long, active
honorable, and useful life, amidst the sym
nathies and sorrows Of his many friends
who feel that his death was no less grea
public loss than a severe private grief. He
was long connected with the administrator
of this company, was we'll known to and
honored by it's members, and by none more
than by those whose official association will
him gave frequent opportunity to observe
his able, intelligent, and earnest zeal tor It's
interests, and which continued, under ai
circumstances, unabated to the period OF biz
death, The Board, deploring the loss OF hi:
Intelligent counsel and friendly sympathies
at their meeting on the 9th day. Of June last
adopted and caused to be placed on theil
minutes suitable resolutions Of respect tt
bis memory. .,,,y..,-., II ,1.
The vacancy caused by the death OF MI.
Edmunds was, On the 5th day Of July, 1919
filed bv the Board, by the election as q di
rector of the company, of Major Frederiei
r.. Scott, of this city, a gentleman "n9S' n;
rwell.knoWn business experience ana lhtehl
cence. united to large interests In the Com
Tuny. indicated him as bit person 1or tn'
position. .n.....,., "a,
necessary at present to make any elaborate
statement Of what they do, aud ID thei
Judgment have the best reasons to expect
in Reference to the probable results OF th
company's enlarging business the next ant
succeeding years.. They believe that you
road with lis connections as now organize'
and being organized, ia entitled and des
tined to become at no distant date; ieaaiil /.
highway of commerce and valuable in all II
interests aud influence, As q distinctive ~