Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1877-11-21

i S39.472 4:
| Tho receipts inr IL; seal ca ead
: ing j0:h :je>.!cG:lb&r, 1877, ~er3."" 99b,395 10
| y.x;n,lsos Tor ss:n0 tii:,o........... $3.50 81
! OBSERVATION-DISCLOSURES. SIT 04S II
Tho expenditures for 1871 include The pay
roll: for July and August of tho preceding
!, yonr amounting to ST, ll2.9O which wore not
The falling oil for la7T WAS from passengers
| alone, being S59,l7l.S3 in 1877, against Sill
$50 - in 1876.
Tho last harvest WAS a good ono and we may
confidently look for increased receipt; from that
solri,y during the year ending 30,h Sept, 1878
7 no road 10 in good condition. as will sppear
r:om the report Of tic General superintendent.
We noed another freight engine as soon 80 it
csn be procured.
1t is proper to state to you that two suits in
chSnccry were instituted against this company
in tue United States Court 81 Richmond-one IN
tic na,nn Of Henry Lewis, Sc; the OF her in the
name Of Hcnry ) McComb, Sc. This litig alton
originatel in the assertion OF compliments de-
mauis for reimbursement of advances made un.
dor ihc contract OF II July, 1850. Oh which sub.
inrt tho Board OF Directors and these plaintiffs
enter aimed different views which will DO ascrr-
tsinah AMI III Just, Il in tho litigation.
Th3 III .intiis ssW it 20 dismiss the suit Of
Lewis " IL ;h> United STATES Court. but in
sL!!utcti Ii similar omo Immediately after IN the
State Circuit Court for Tho city OF Rlchmond.
Under the ruling Ct the said State Court, the
plaintiffs elected to dismiss also tho suit Of H. ).
McConsb. Sc, in tho United States Court. SO
In It tno present suit in tho Circuit Court OF
Richmond is tho only cause now pending be-
tween these parties aud tho company.
In Tho suit in the United States Court and in
that in tho State Court, irjunctioas were grant
ed, restraining and PROHIBITING this company
from paying out its funds. or applying its as
sets 10 the payment of any ct its debts, except
tor supplies III services.
The complsinants in tho suit in tho Richm md
Circuit Court nmdo application for the appoint.
mont or = Receiver, which application the court
refused. End continued this company IN the
hands ,.al management Of its present officers;
but nc required it To render to ono of the COM
mss;u"crs OF tho court monthly report OF Its
recnipts and expenditures, which has Boon regu'
lHrlY dOao
In thue salts one ohi:c: cf tha oompl"lnants
hAs been ~ ohtaim Il priority OF lien over tho
holdcss Of the bonds OF tho Washington and
Ohio ks:lroNd Company: Tha interests CT these
bnnhhUliorS sill he pr'!"tteI u Lir u';no3I VI
the cun,IaGy's ability.
hut for tho demand Of tho pl.iatitls, and tha
liabilities acCruing rom tho conhUctloh Win
these parties. il i; beloved tina: tho not lncono
Of the company would sutiica to pay ITS annual
Il ,bili.i,s. wYile is franchises and property
woulI DO on ample security for all its indebted
moss, and basis fer !. gradual Dut sleady oxlen'
sion of it3 road.
Prior to the institution of these suits oxtraor-
ainnrv Efforts were made, st home and abroad,
IL n9yoLil!a tho bonds, but the times nave D9en
,laiavurnb.o for ell such negotiations. Ihls,
however, csni.ot always b ;ho case -Four years
have PISSED since u!scredl, almost universal,
In; boen thrawn on railroad securltc5-ouI inc
world cannot stand still -,
,rhe Board hope tEat ell ttcsc diihca!slc! VII
lc settled satisfactorily, notwithstanding oil that
hes occurred. 49,. ~
In conclusion, !no Bead make this suSSes
tinn, which they thni; the net annual receipts
Will fully warrant, viz: lie! WhsteVer thero may
be due to the associates be scaled rs w7l rs Inc
bonds Of The company actually 500 ana now
outstanding, at fifty coats in the dollar, tbs i9a-
inc debt in,conscquenco OF the heavy amount OF
cCiartcra!s, in bonds, he'd for it, 10 be PAID at
mar in rev six per cent. mortgage bonds OF the
company; ard if the parties TO whom IL IS OWING
will not consent TO !hs. let thcl: paper oS re-
nawol auI psid Of rs fast rs tho means OF Inc
company will warrant; the creditors OF tins class
being occurred by tAo new p'aus 10 co''"V'''' o.
This beii2 s.rcod to BY all parties Of course
| the bonds issued under previous mortgages VIII
| &c cancelled, and snGwsix per cent. bond issued
| Winchester. II this new bond shall be sold, the
ax.eusjon cf the road to that rlace, and uI'l
| metalv to the coal II eids. will be assured.
| Tho value of this road has not been oVar-es'!'
! mniod BY is fciopts. Tho arguments hereto
| fnro urged in 5oaatt Of It's prosecus'oA hppiS
reduction in the price Of labor and materials,
| which i, likely to continue f>r several yoars a.
! least.
Wo aek tho attention Ct tina stoc&h doTs 10
tho tables Of articles constituting tho t:e!S ii
business CT tho ro.i during tho pas! year. II
will be touad intcrcstiHGto !E'i:l from ih7 '"''
| cd nature OF lis contents. - c..,
| desire again TO express my sanso OF lhe lsith
| full and efficient discharge OF thelr Respective
duties by ,hs General Superintendent *nd 9th Ell
eli GERS Of the company, during inc yeSr. :.
| hoard Of directors LEWIS MCKIEZGE
Alexandria, Nov. 3, IL frcsluenI
The following is q synopsis Of the report "
Mr. r. H. Eavencr, General Supcrlntendont
| The receipts from transportas ware sJo go 4
Tho expenses wcre...... o'ooo D
| BAiancC..".. minimum. %@',o'' -
In tho above account of expenses arc incl ude
the psy.rolls of July and August or LAST year
which amount TO S. 142 30. Deduct this amour
from tho above total Of expenses leaves $40 2o'
"a As tho actual current expenses for the year
and makes rGtio Of expenses to receipts G
sixty-iiVo per cent
bcoa added to tho rolling stock during the year
Tho rolling stock now consists of locomotive
4: passenger cars 7; baggage and mall cars, Z
EXPRESS cars, 2; tox csls, IS; flat cars, l6 gon
doiss, 6; stock cars $; al! of which arc IN goo
or6er. .,.,o
orosstins have boon used in repairs track.
Your roadway, bridges, culvclts, SC, are i
good condition, and sufficient for all bushes
likely to oii-r.
The mileage Of thu trains for tho y.esr was as.
passenger trains, COLL, freight trains 'o.oi
Total IS, l5S miles.
No passenger or employee has sustained SET
GUS injury upon tho road during the year.
The aggregate tonnage Was ,o,o
Carried CAST. ..loHs'
, " WCst............ ...''...'.' hi'oi-
tons, 24,7S1
Adams Expross, cast and wcst...... Oh
Total tonnage .....'.'Iohs' -oaIe