Delaware state journal. [volume] (Wilmington, Del.) 1870-1883, 1873-01-18
RAILROAD MEETINGS.

At the Office OF the Company, In tine Elk
change building, this city. The election
for directors Of the Company, resulted as
follows -
Dlrectors-J. 7. Head, Job II jackson,
George G. Lobdell, X. E. Robinson, VIM.
II. Swift, WIN. G. Phillips, Geo. Springer,
Alan Wood, VIM. E. Garrett.
President Head submitted the annual
report of the Directors, which Is In full as
follows
In the presentation of this annual report
il ia proposed to give 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 $500, 900, bearing
z $40 per cent, interest payable quarterly,
have been negotiated on terms deemed
usually favorable TO the interests OF the
Company, and large proportion OF them
have been taken by individuals and corpo-
rations for permanent income Investment.
From the stock subscriptions to the
Company, amounting to something more
than $3.50 900, we have already collected
s244, $50, and are making persistent effort
20 realize finally and with oromptness,
not less than the proposed stock basis OF
$3.50, 900.
The protracled cold and stormy spring
OF 1872, the unusually hard rock cutting
and other causes, combined TO delay the
completion of our graduation and masonry,
and postponed the formal opening of our
road until Oct 10th, 1879, which was
promptly followed Oct. 21st, 1879, by
three regular trains each way every busl-
ness day, between Wilmington and Ian
denberg.
Your Company have at this time 1872
miles of main track. mostly well ballasted,
and in good, smooth running order, $50
miles of sidings and turnouts to accom-
MEDIATE the manufacturing, mining and
the general business of the Company, 3d.
100 mile in the direction of the Christiana
Harbor graded ready for the track, u line
of telegraph from Wilmington to Landen-
berg, for the immediate use Of the Com
pany, and liberal arrangements with the
Western Union Telegraph Co., for dis
patching to and from all parts of the
United States, u Freight House, Building
for Offices and Station House at Market
street, Wilmington, an Engine House,
Blacksmith aud Repair SHOP, aud Store
House, with the Brandywine water intro
duced thereto, in West Wilmington, neat
and 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 fol
Station, au excellent Tank House with
superior water facilities, an Engine Houst
and Turn-table at Landenberg, Bridge and
Watch Houses, about 81 acres of land IL
Wilmington (including 1000 feet on the
Christiana River at Third 81. Brdge) o
really very great value, and indispensable
to the present and prospective needs o
the Company, a valuable gravel pit will
privileges to add thereto by purchase, {
limestone gravel pile, supplying larg
quantity of excellent material for tllast
ing, two acres of pic mic ground on The
Red Clay creek, two other small lots ad
Joining Stations, Station lot aud othe
privileges at Landenberg, a connection
direct to the Harbor of the christina
! early prospective advantages Of track ex
! tension on Water street, in Wilmington
: to Union Depot at French street, I'm
2 portant franchises, including chartere
q rights to extend to the Delaware Rivel
and for eglt mile branches in an
= direction in the State of Delaware
; grants by Pennsylvania Legislature TO
i extension to Oxford, with branch to Mary
e land line, and for extension to Baltimor
d Central Railroad at any point from Ker
nett Square to Avondale, ample and goo
= IOllluR ElOth9 dloO u puppy VI lnRNhAhAi
: tools, fixtures and material and appoint
d ments for the various offices.
The damages for land are nearly all az
g justed and paid, our fencing very nearl
y completed on the line and our road be
q contractors, with a single exception, 81
settled with and paid in full.
In conclusion, it is gratifying to say th'
80 we have been met with a liberal an
II accommodating spirit in making busine
n arrangements with other railroad lines thi
:. we are now In position to accommoda
- and develop our local business, TO negotia
"a for mutually advantageous trade with col
~ meeting roads, TO make extensions {
- granted by legislative enactments at SUI
times as the cooperative action of parti
v directly interested on the line may warra
ID such extensions, and especially to impro
t, our vastly Important shipping faciliti-s
n the Christiana harbor and on the Delawa
a. river, which may readily and cheaply
V. adapted to the commercial needs of W
n. mington, and TO the great wants of inter-
lg Pennsylvania and the West, as speed
ay safe and accessible shipping harbor a
entrepot on the waters Of the Delawa
river.
1t is something, too, In railroad histc
to be able to say that every and all expo
5E dtures of this company have teen ma
Y for direct equivalent, that we have q
value received for all work and supple
M and that our road and franchises are
at day fairly worth much more than the {
IL, tire cost as represented by the books Il
I'll accounts of the company. 1t must a
of be comfortably assuring TO those W
CHI have invested and shown faith in this
he terprise 10 know that the gross earnir
of the company on the sixth week of
ad running were more than equal to the c
CHI responding weekly Interest on the emf
ly, bonded debt of the company, that
+ prospects for the year 1878 are very pro
ising and encouraging, and that we ha
ng good reason to anticipate future histl
re, for our road greatly increased in busine
10 receipts, In extent of line and conn
on lions, In accommodations, aud 10 gene
in usefulness and profitable results.
ye- The reports of the Treasurer and En-
ng neer-in-Chief were also submitted.
We are unable to present our read
lb' to-day with the complete annual report
ge, the Philadelphia, Wilmington and Ia
to more Railroad, submitted to the sto
holders Monday, but are glad to say q
Get il was an emnently satisfactory one Q
ice shows a decrease In the running expen
nat of the road, and at the same time gri
lrf, fying increase in its receipts. From
81 report of Mr.. Eben F. Barker, Audit
wn now before us, we find that including
ge, terminus on the Delaware River at Wa
de, ington Avenue, which cost $40 .400.06, {
The the Darby Improvement, costing thus
hat s1.472, G52 SO, the total value Of the II
ice bridges and appurtenances ia Sll, ss
ole 736. 50; adding to this the Compan
cen other property in real estate, stoc
, to accounts, ETC., and its total property
'ty worth Sl4, 500, 0j9.s7.
day The stock of the road amounts
ge. sl1, 4s5, $50, and its bonded debt
ans 81, 800. 500.
still The receipts and expenditures dur
tho year ending October Slst, 1872, v
)ng as follows
IL Receipts main road, ....,...... 0,sl4'2
N. &. +. X. R,......' $50
~, ,sse 2s0s,s
o am, Expenses p, SB., ,o2S' $50 70 . 40, .
oui- E" NC, Il +. X r., oei0lS2s sl'e9l'o
vol 8,2os,2
ldy- Less interest, ................ N,+
Net earnings, ................. l,rs,7
~ Balance on November LIST, 1871, As4e
With loOsc
Deduct ? six-months dividends,
OF per cent each, ...-....-- s5o,2
IL e7s.l
aims Losses in various ways,
ana including i,slS4s,
IVY, by buying By an
The agent IN Baltimore, flI ,9s2.7s
one For amount to renewal
dent fund for 1873, $3.50. l5O,OOO.U9 1914
tspe Balance for new fiscal year,. solo,
~ " Tha fo1Io,vipfr abowa thu ravpnup fO