The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1877-11-15

The tobacco crop was short and lndltter-
ent, the furnaces were out OF blast; but the
loss in tonnage and revenues is largely oW-
ing to the fact that navigation was seriously
interrupted during more than three months
OF the fiscal year. The damage done to the
canal By the heavy ram OF 23d September,
1876, and especially the washing out OF
large culvert near Walkers Ford ION Level
42), neceSstated an expensive and trouble
some transfer OF Yreights. This breach was
fully repaircd only on the 25th November,
the navigation having been very much in
tcrrupted for about two months. Then
very soon came the unusually severe and
protracted freezes Of 1867. "On the 9th
december the canal was blockaded with ice
and continued so until the goth OF january
Oh the first division, and until the 22d
of January on the second division with the
exception Of an interval on the first dlVl-
sion OF three days, the 14th, 10th, and 10TH
of Dccembcr), making thirty-nlne days or
suspension by ice on the first division, and
forty-iour days on the second dlvlslon.'
Owing TO these causes considerable ship
ments Of grain, coal, salt, merchandise, and
miscellaneous articles were driven from the
canal to the railroads. and there was cor
responding loss in dockage. All the cir
clmstances considered, 1t is matter OF con-
graduation that our tonnage and receipts on
canal and dock have held up so well.
There have been heard no marked re-
ncwals of the complaints heretofore urged
against the local tariff OF tolls.
TIE RICHMOND DOCK.
Despitc the fact that, invited by the deep
water and by the establishment Oh raliroaa
and other wharves below the Ship-lock.
much business has gone and been kept out
Of the dock, our receipts from dockage
have nearly cQuallcd those OF last year, and
would doubtless have considerably eX-
cecdcd them but for the interruption to
navigation on the canal in October and No.
rembcr, and the unusual freeze OF Decem-
ber and January, which closed the river
and dock, as well as the canal. This shows
gratifying increase in the business OF
Richmond city. There have been several
applications for changes in dockagc, &c,
and it may soon be proper to revise the
whole tariff of rates.
EXPENSES.
The expenses OF the company for the
fiscal year ending 30th September, 1871,
were:
For expenses and repairs "...........s39,os3 de de
For salaries Of agents S.................. 25.2OO 81
For general administration of company. 1o.o52 81
Total ................S74,33 Is
Total in ulS76...................... S0,7S6 0S
Decrease 6,44s 90
| Decrease in "cxptnses and
repairs " "....................s4.lI -
| Decrease In salaries of agents 352 80
Decrease In general aCmin-
iStratiOn Of company...... 1-91S So ~
NET EARNINGS.
The net earnings for this and the last
| fiscal year were:
1876. 1877.
| From Richmond dock. $31 ,6S4 50 $4,000 6s
| From tolls and rents.... 4O.552 80 30,33S 2S
rOsals.'''..'''..'.*aass,22ssss ''.*as,2ss q q sss'42o 81
Decreasc..........$ 5.s0s Sc
| The percentage of net earnings to gross re-
ccipts for the fiscal year ending 3Oth Sep
teluber, 1876, was.
| The nercentage of net earnings TO gross re-
ceiins for the fiscal year ending SUN sep
tpmUer, 1877, II f.1oe
MORTGAGES AND MORTGAGE BONDS.
First mortgage limited ITO. .............".$ 1SS'90S
Second mortgage limited to............. 5O0'oOC
s1,25O,ooC
The outstanding mortgage bonds are the
same as reported at your last annual meet
ing-yiZ.: oe
First mortgage.
Sncond 1fuifUl
$e2o,4oC