Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1874-11-30
w. c.. v. NJ. Il G. >. II. IL.
Stockholders Meeting.

The Annual General Meeting OF the Sick
holders OF the Washington City, Irguia Mid.
Ianl and Great Southern Railroad Company
convened at the Office of the company, III this |
city, at Doon to-day.
On motion of President J. S. Barbour, g.
W. Button, esq, Of Lynchburg, was chosen
Chairman, COL l.. W. Reid, Secretary of the
company, acting as Secretary.
On motion, Messrs }. NJ. Chapman, Thos.
Whitehead aud r. z. Saunders We're appoint
ed Committee on Proxies, when,
On motion of Mr.. Barbour. the meeting
took recess until clock this evening, to
reasonable in Sarcpta Hall.
Upon reassembliug, the Committee on Prox-
les reported through its chairman, Judge
Chapman, large majority OF the stock repre-
sented 10 person and by proxy, aud that the
proxies were iu due form and correct.
Whcreupon John s. Barbour, ESD, Prcsl-
dent Of the company, presented anu read the
following report:
PRESIDENTS REPORT.
Report to the Stockholders:
The annual statement of the operations oil
the Washington City, Virginia Midland and
Great Southern Railroad, and condition OF the
company for the year ending the 3OIh Septem.
Der last, is herewith respectfully submitted.
| The receipts of the company from the various
sources Of transportation for the past fiscal
year amount to the aggregate sum OF $979,-
S43 50 of which S47S ,S2l % has been derived
from freight, $3.50, 1885, from passengers,
S99, 272. OF of rental for lease of Branch road
from Strasburg to Harrisouburg by B. 4 o.
R. R. Co.-reduced to curreucy-S5 ,2l9.4
for u S. mails, Sl7,372 IS for express matter,
and 81, IS "a, from Telegraph line and News
Agency. The working expenses OF the road
for the same period, Inclusive OF trackage
charges paid to the Chesapeake and Ohio and
Baltimore and Potomac Railroads, amount to
$577, $50 %, leaving as the balance OF nett
revenue the sum of S40l 1854 46. A compar-
500 of revenue aud expenses for the past year,
and the one preceding, will show that the former
has increased by the sum Of 5,4l7.l7 aud
the latter diminished by S4l ,502.7l. Ratio OF
expenses to earnings 56.7 per ceut. a total Of
l6l COS passengers have been carried over the
road during the year, of whom ,O61 were
through and 1855 local passengers. Ex-
elusive Of deduction for loss of traffic by reason
of the lease of fifty one miles of the Manassas
Branch and for which compensation is made
|
large falling off of passenger receipts. This
loss of passenger traffic is doubtless largely
attributable to decrease Of local and through
travel consequent upon the depressed financial
condition of the Southern country, and to some
extent to the diversion OF travel to the Vlr-
pinia Springs via the route of the Valley rail-
| road opened last summer from Baltimore TO
| Stauotou. The extended road from Lynch
burg to Danvile has thrown open new direct
| avenue of travel to aud from the South, the
value of which has not yet been fully apprecia
ted on account Of the unsatisfactory condition
of the so-caled "ar-line" from DaDvlIle to
Atlanta as competing route to meet the re-
qurements Of the travelling public. The tou
Dage of 1874, as compared with that OF
| 1928. shows an increase over the latter year
of 8 583 tons, aud the sum Of 50 35O.51, addi-
tiunul receipts Exclusive of loss Of l6, 146
tons on last years operations of special clas,
| of freight diverted by tho completion 81 the &.
& o. R r. FROM Ricun"d TO the OHIO Riv"r
! and The. upe,ing II tie Valley hn" 10 stnun-
! ton, the tuta lrcr.1~e OF Local aud through to,-
mage over the I'D aiIr"uut- To % 500 rI.s.
! TIE, tu;al t0m,,ag" frr re year c"dtig 3Dtt'
| Sepeuhr ta-r l. l65 $50 It's. against II az.
prcyat Of 1871 $50 u III va, t'cf rr IT,.
former 95, 1856 ;nuS wa, Io!tI-b mud tuuu &C,
and 10 203 ,uus >uIltI-Luunl. TIE foregoing
SUMMARY OF receipts aud tXp'D>S show
nett Increase vi buSlIcS+ ~ &c company uh
The operations of the year ct SG6,9 IS over
sa,ut results of the year before. This result
has been accomplished notwths- ndlCg III TACT
that the extended line to D,nvlie Ia dlsapca
of &c miles, ha. been IN practical operation
only for about four mouths ut tie fiscal year.
FINANCES.
The returns Of the state of the company and
general account of its financial operations for
the year euding 30h September, 1874, certi
fed by the Auditor, are herewith submitted
The following analysis will show the present
general financial condition Of the company:
In the form of permanent and funded debt,
secured by mortgage, there is of principal as
follows:
Aggregate amount Of mortgage debt of the sew
ersl Issues, made originally by the Orange &
Alexandria R. X. Co............... 81, 554 600 w
Amount of past due coupons fund oo 90
l,s ID 1, sRei boSds o. sSes
I'd :" 25 900 90
i hs4 MT D' VIC VIM &G.S.RKCo. 1855 500 90
Lynch s. Danville " 526 $40 10
$G475 $50 90
GThe two last issues in the above
account are held by the Bait
s. Ohio Railroad Col
TEMPORARY DEBT.
Bills PAYABLE current ,221, 033 08
ties. nav rolls &c................... AGA, 957 81
$l,6S5, $50 G2
Against the above Indebtedness the
company held at the same date
the following resources and avail
able means:
Of mortgage bonds of the se1 eral
issues of the company and bonds
of the county of Pittsylvania and
town of Danville, hypoth
as collateral. ....""Sl ,9l2 lOO w
nro bv aoents and conductors. . 1905 IS
Due on stock subscriptions. 1882 80
Virginia Telegraph stock.........." 90. 3ao w w
Value of lands at cost. ". .-:...... lo6' Ioo w
Lands in Pittsy lvans and Camp
bell counties subscribed in stock, -,