Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1873-12-06
,y.s,s,yGroN & OHIO RAILROAD.
PRESI NT'S K f ? Q r T.


port to the ckholders of that company, max
ing very gratifying exhibit:
| To the Stockholders:
4 general meeting of the stockhoders OF the
| Company was held on the 10Th OF April, 1913,
under the provisions OF the COde, upon the
written call of parties holding more than one
tenth of the capital stock, after thirty days no
ticc duly published.
The regular day Tor tic annual general meet
ing this year would have been on the 5;h day
of November. This was one day after the gen
eraI Stale eec,ions. and the day on which the
exhibition of the LyudDuu Agricultural Fair
commenced. Uuder these circumstances, 1t
was deemed advisable to postpone the meeting,
and to communicate with the stockholders by
means of this Report, copy ct which will be
sent to each Of them.
Ever since tie execution of the contract OF
July2 >, 1869 ,she purport of which the stock
holders were generally advised OF, the Presl-
dent was DESTROYS of being able to report that
the road was in course Of construction to WIN
chester iu pursuance of is provisions; but,
from causes we'll known to the stor kholders,
and notwithstanding the strenuous efforts made
to induce the parties to that contract to car
nv out their engagements to that end, no
thing has vet been doue. This having been
meeting. il was thought best 10 elect new
Board OF Directors, in the hope that, under
their management, Il better state OF affairs
might be brought about; and that the then eX-
listing Board would chccrlully cooperate 10 all
proper measures Tor extending the road to
Winchester Before the meeting IL April was
held, the President, with the approval OF
part OF the Directors, entered into contract
with W. B. Mcclure for the grading and ma
sonrv of six mics Of the road next west of
Hamilton. on terms deemed satisfactory Under
this contract, five miles have been completed,
but IN CONSEQUENCE Of a disagreement between
our cngiueeraud contractor, both as to measure
mcns Of work and classification Of material on
these five sections, it was decided to proceed
no further under the contract; and 10 pu1su-
ancc Of its PROVISIONS, uotlcc TO that effect Was
duly givcI to the contractor Since then, the
made with Adams, Hammer & Co., OF Lynch
burg, for the grading and masonry of the
residue of the line to Winchester, dis
tarcc of twenty-five miles, on terms considered
fair aud reusoubIe; the work to be commcnc-
ed on the first day OF January next, and prose
cutcd as fast as the means can be provided 1t
is hopcd that the present. condition OF affairs IN
the money market will not continue much Ion
per. and that there will soon be demand for
our first mortgage bonds. We have always
met our interest promptly-(a SINE qua non
with bond -buyers)-aud are able to continue
this punctuality-an ability which is increased
with every extension of our road We believe
that the people of this vicinity will have conf
deuce in our contiru ng this regularity OF pay
ment in the future, as the receipts from our
traffic are sufficient to pay running expenses,
and all our interest, both upon our bonded and
floating debt
Immcdiatly after the organization of the pre-
sent Board of Directors, steps were taken to
negotiate the first mortgage bonds OF the Com
pauy to an amount sufficient to complete the
line to Winchester, which We had every rea-
son to think would have proved a success, but
for the existing financial crisis, and delays Tor
which others tllan this Company are response
bic. We are not without hope OF still cttectlng
the negotiation The best efforts Of the Board
will be continued TO that end.
We hope SOON to complete the laying OF the
rails to PurccllviIle The price of iron is de-
clining; aud, so soon as we can obtain the
requisite means, we shall lose 20 time in doing
so, as at that pout We shall get considerable
increase of freight and passenger business, BY
several important roads ccntcrlDg there, after
passing through Il very populous and produc-
tive country.
Our receipts for the years 1872 and 1873,
ending September 80, from passengers, freight,
mails, and express, were
Ia 1872 ssO,722 IS
In 1873 92,SS2.9S
During the last year two new bridges were
erected-one over the Alexandria Canal, and
one over the Washington and Alexandria Turn
pke-bcsides five smallcr ones over -Four Mile
Run, in the vicinity of Carlin's Sprug; and we
are about erecting one over Goose Greek, which
we hope to have IL position during the coming
winter
Our cars now run twice day into Washing
ton City, by the Washington and Alexandria
and the Baltimore and Potomac Railroad max
ing close connexions with trains to Baltimore.
The only difficulty we meet with here is the
high rate of charge upon heavy freights for the
use of the Long Bridge This matter is, how
ever, beyond our control, and must, Of course,
be left to those to whom the bridge belongs,
the Baltimore and Potomac Company.
The road is in good condition, AS is also our roll
ling stock which consists Off locomotive engines,
passenger cars, mail aud baggage cars, II box
cars, gondolas. - flats, ADD stock cars-all,
except two passenger cars, built III our own
shops.
1t will doubtless be interesting to the stock
holders as we'll as to those who hold our bonds,
10 KNOW now tlC OUmpduy olauuo nuaoei'iiS
aud whether it would be prudent for parties
seeking investments to purchase our securities
We have quietly gone along, hoping that our
people in Alexandria and along the line of our
road would cooperate with US 10 the extension
of it, not only to Winchester, but to the coal
and iron fields, and ultimately to the Ohio
river. With the view Of disseminating lnfor-
nation of the value and importance of our
line we have published two thousand copies of
pamphlet, giving, with much other matter,
glance at the cnuntry through which our road
is Intended to pass. 1t has beou widely circul-
ated and we trust will do good.
The Company stands as follows
First mortgage bonds, A, J. & H.
Company, S 1900
Do do w. Il O. c.. per C. gold
interest, 5000
Ten-year bonds, 4,SO0
Bills payuble 99, 9l5