The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-11-18

THAI E0MpRuye5Ss.ssEhe .0oaTGS0f directors think
they may safely assert that the pecuniary loss
of the Pennsylvania Railroad Company in the
vain attempt now being made by them to
force the Richmond, Fredericksburg and
Potomac Railroad Company to give up their
steamboat connection is considerably greater
than that sustained by this company, and
with it they are, in the opinion of this
board, incurring much greater loss in that
of reputation, and in the lesson they are Civ
ing both to States and other companies to
avoid as far as possible transactions with
them. The board have no fear as to the re-
suit little sooner or later in such q contro-
versy as this. The Pennsylvania Company
will ind out in time, if they have not already
discovered, that they have los, and are losing
very largely for an impracticable object.
In conclusion, the BOARD of direc.
tors would remark that the road and
other property Of the company are in ex-
cellent condition, and unless that of the
country should become worse than it now Is
they think it cannot be very long before div
idends on the common as well as. the gusrer-
teed stock may be resumed With reasona-
BILE certainty Of permanent continuance.
BY order Of the Board OF Directors.
r. ~. JOHN ID. ROBINSON, President.
GENERAL sUPERlNTENDENT's REPORT. .a
- The following. annual report of the epgt.
.neer and general superintendent, MJor E.
II. D. Myers, was read and adopted:
RICHMOND, FREDERICKSBURG ANDl
.-.. -. r$PoToMAc RAILROAD i
GENERAL SUPERINTENDENT OFFICE,
- RICHMOND. VA, October /, 1875.
To the President and Board of Directors !:
Gentlemen,--It is my duty to report a
somewhat reduced income from Transports
ton.
For the year ending September so, - -: =
For tnat Il ending September So 1875
II ........,..,.,............ S7u.o4o.09
The reduction Observation-Disclosures. 31,3S6.23
4 Of this amount one fifth is due to the
diminished receipts from through travel; yet
the number of persons carried was consider
ably greater. The proportions of the through
tickets now received by this company are
smaller, which accounts for the result.
One fifth Is due to our local travel. The
fare was not curtailed, but less number OF
passengers was carried.
About one third of the loss Is on through
,freights. Last yea. we enjoyed 8 revenue from
business between Baltimore and points on the
Chesapeake and Ohio road which has been d.
verted to the Valley road, and also from West.
ern grain, which has not been the case this
year. A good deal, loo, may be caused by
the stagna tien Of business. ~.
One fifth is TO be attributed to the local
freight business, which has suffered in com.
mon with other interests. s,.,.. - ,s.,,
With this brief enumeration of the losses
in our income proceed to the consideration
of our expenditures -s,. 49,, .n.t s
For the year ending September 80. ..
1874, the current expenses, as set oo
forth In my report of that year, 7,649 W
For this year they were..'".'''''.'... 1oS'o49 90
Being reduction of................... sS7,59s 81
-considerably in excess of the reduction in
income 80 that the net revenue has in
creased. -..,... ,.. uL..l
The term "current expenses" includes
repairs and renewals, new rails, ties, bal
lasting, &c. :.G. n.o.1, ,a9sg...i
The ratio Of current expenses to gross re-.
ceiptsis 4S 6 10 per cent, whichis unusually
low.
1t would not be proper to infer that the
property of the company in any OF its de-
partments has been allowed to deteriorate.
On the contrary, it has In every respect, l
think, improved, and the full quota OF new
rails and other material has been supplied.
Some of the station buildings have been re-
modelled, and some pains have been be-
slowed upon their surroundings; all OF
which is charged to current EXPENSE.
As your board have from time to time di.
rected, considerable sums have beenspent in
extraordinary expenses" as follows '.5'4
New buildings at Boulton. 6.3S2 SS
Additional rolling stock. .............. ZS,a46 * 9
Cost of teams and harness. 2.21O W
Real estate. t,oio w
,s .a! q ~5 .eesuit lsAs,964 80
|, The drawipg-room cars were built partly
to avoid the discharge OF faithful and Vaiua.
BILE employees, who would otherwise have
suffered gceatly, and at the same time to ac-
commodate the increased demand for such
luxuries on the main lines OF travel. The
revenue from these cars so far is about
twelve per cent. per annum. = { : :, - ~
The new coaches were intended for and
are used by the through trains between
Quantico and Weldon, and while producing
additional revenue to us by their present
use south of Richmond will eventually be
paid for by the through train, !, 81 80
I The new machine.shop, and buildings
enumerated are now nearly finished, and
will be completed this fall. Their, cost has
been less than the preliminary estimates for
them, No effort has been spared to render
|Lthem complete and slightly. . i,i,= sz;a
The old machine.shop, at Broad street, was
abandoned on the, 2lst September, after
being about thirty. .fiuesyears in service! -
r Herse.teans tor Broad street service we're
ordered By you on the I'd April and the or.
der was carried into effect upon the 22d d=of
the same month since which time mo- en-.
gines have been used least Of BelVidere street
save by special permission Of the city sau'
thorities. ~ ,1 , ,.., {. 2-..a ~ e, ,s..I
There have been no serious caspaltie dur.
ing the year. Indeed, owing 30 the snfH.
cheney Of the ballast and the thorough drain.
age. The road suffered very little from the
extraerdinary syielssitudes Of the past sea.
|soat. The most, important etentfon was
caused by the washing out OF q calyert
which had become defective fron the dlsin-
Iteration Of the stoDe..-.:-.. -.:-..-----:---:
The employees have maintained their Welt
earned reputation for faithfulness and effi-
cheney.
Since the last annual meeting the death of
mi. j. B. Gentry, one OF the Oldest, Wor'
thiest, and most devoted officers Of the COM
paDy, has occurred. His connection With
this line was so well and SO fay0rsbly Known
that his loss was severely felt trust it viii
nes be: considered out pf place 10 an oftiei iai
report to pay q tribute 10 the memory Qi
this iamented gentleman.
Respectfully submitted. 5,
81 - ], General Super dent
Ss ELECTION on 0FE1csRs.ilili II b Il
The stockholders next went Into the cleo