Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1876-10-17
LOUISVILLE AND NASHVILLE
RAILROAD.

LOUISVILLE AND NASHVILLE
RAILROAD.
The Annual Report of the Presi'
dent aud Directors for the Year
IS75-5G.
The annual report of the Louisville
and Nashville Railroad has just been
published. 1t is an exhaustive pamphlet,
containing a mass Of facts and figures
worthy Of attention and study, as it
shows that the road is once again on the
high road to prosperity. The officers Of
the road are as follows: President, E
D. ~Standiford; Vice-P President, h. Victor
Newcomb; Directors, e. D. Stamford,
Il. Victor Newcomb, B. Z, Guthrie. W.
B. Caldwell, W. E. Smith, q. C. Murrell,
W. NJ. Harrington, Geo. A. Washington,
P. J.. Potter, Geo. H. Hutchings, Jas.
W.. Hays; Secretary, Willis Ranney;
AssistautSecretary A. N. Quarter;
Attorney, Russell Houston.
The report shows a reduction during
the year, commencing July LIST, 1875, and
ending June Both, 1876, on the mortgage
debt Of the main stem and brauo-ss, Of
$751;, 100.
In addition to the reduction Of their
own mortgage debt, the bonded debt Of
the Nashville and Decatur railroad has
been reduced $4,000 by the payment of
forty-two of its first mortgage bonds into
the sinking fund; also, the bonded debt
of the South and North Alabama Rail-
road Company by the purchase of sixty
two thousand dollars of its sterling bonds
for the sinking fund.
There was an increase last year over
the surplus earnings of the road of the
year lS74-75 Of Sl87,4l9 70, the net
earnings of the road this year being
$~l,457,8l9 l6.
The further very encouraging fact is
shown in regard to the increase in the
net earnings:
The net earnings of 1876 exceed
those OF loiS.I5 6S
And these of ls73-74........................ 400, ST II
And those of lSTl-75-.....". ....--....... 2Sj,S2 q
The Aattering results are largely due to
the fact that every source of expense has
been considered, cut of, or reduced to the
lowest standard consistent with the in
~terests Of the company.
The report goes on to state az follows:
From the foregoing statements it will
be seen that, Notwithstanding the great
financial depression Of the country dur
ing the past three years, and which is yet
upon us, nearly every road that we oper-
ate is receiving the benefit of increased
trsfc, which we are moving at a mini
mum cost,
The present management has adopted
and applied a rigid system OF economy
in every department of the service. We
have reduced salaries and consolidated
: departments wherever practicable. The
3 force Of employees Of the road has been
-. greatly reduced, and q reduction of
wages has followed with those retained.
9 The result has thus far been Of great
benefit to the company. N~otwithstand-
ing this economy, cur track, road-bed,
rolling-stock and machinery were never
in better order than at present.
I We regret to state, in this connection,
that We have beer unable to make salts,
d factory arrangements for our Texa;
traffic heyond Little Rock, thus compel
y ling US to seek an outlet into Middle and
Northern Texas by the circuitous routa
via New Orleans and Galveston.
The company controlling the road be
yond Little Rock refuses to sell coupon
tickets by way Of our line at all (even to
Louisville proper aud will not r.cog.
niEe tickets sold by US, or By oompanie:
south and southwest Of that point de
string to furnish their customers ticket:
BY the shortest and quickest route, An
arbitrary or local is exacted in boil
passenger and freight rstes on all bust
ness going TO or coming from their road
and passing over our line.
We have submitted to this unjust dis
elimination on the part OF that company
for several years to the detriment of our
selves and our ship 9rs, and we feel tina.
it has caused US ali the injury in it
, power to inhict. 1t is true, W can re
:, taliate to the great damage Of our rival
but our policy ia a conservative one, ant
I, we have hoped that the usual good judg
ment Of the managers of that compen,
would 0 lead them to abandon thei
course and allow US the privileges t
which we are clearly entitled.
Our line, by way Of Memphis and Lii
" tie Rock, is one hundred aud fifty i g
the shortest route from Cincinnati al
Louisville to Middle and Upper Texas
+ and this is a natural advantage that cat
4 mot be safely ignored. The interests il
= volved are large, as it not only concern
the whole line of our road but the sbil
pers of every town and city contiguou
to it, who are now losing their grss
re upon a business that has been very pro
IS table to them in the past and whic
. would, if allowed to how 10 its naturI
channels, be Of incslculable value I
them in the future. II there be an ult
s, mate failure to reach an equitable az
i'll iustment Of these difficulties it will r.
Y sulti in the speedy construction Of a roa
from some point in Arkansas to Texs
kama, which will place us in direct con
munication with the Texas system
railroads.
In conclusion President Sandifor
N, adds,
Our business is now constantly il