Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1877-10-25
Duck River Valley r. r.
Synopsis of the Presidents Re
:, port. What the Road has done
and Whist it can do.

following synopsis of the re-
port of President Mcclure at
the late meeting of stockhold-
ers in Columbia:
1. That the completion of
superstructure from Columbia
to Lewisburg was delayed till
about April 1st, owing mainly
to the weak financial condition
of the company and prolonged
hard winter. That the compa-
NY took charge of the road in
an incomplete condition April /.
2. The operating department
was organized with a view to
strict economy; agents and em-
ployees were obtained OH rea-
sonable terms and because ca
pable. All have worked indus
triously to promote the interests
Of the road.
3. During first five months
from April 1st to August 3lst
of this year tonnage amounted
to 6, 098,7 Bs.; gross earnings,
Sc, 520.22; expense account, &c.
OO0.90. Expense account has
necessarily been very large, in
GLIDING as it does, all Office sup
plies and maintenance Of way,
with q large section force to
place and keep the track in prop
eraEgnment, surfacing and bal
last with stone, dirt, etc. That
expense has been paid from time
to time out Of each months
earnings and which will be con
siderably reduced in the future.
4. Gross earnings have not
been large for the reason that,
except for a few weeks in the
months of May and August,
the produce of the. country has
not been shipped, which, to-
gether with extremely low rates
for freight, have operated against
a good gross earning showing
as would otherwise have APP
peared. There is a large amount
of surplus produce yet to be
shipped which, together with a
reduced expense account, will
show the balance account con-
siderably in favor of netearnings.
5. The Board are satisfied
from actual experiment that the
success of the road, as origi-
nally designed, depends on ex-
tension to Smiley's. thence to
Petersburg and Fayetteville at
the earliest possible date, which.
when done, viii show capacity
and business sufficient to pay
not only additional expense ac-
count and additional interest on
bonded debt, but a net earning
to stockholders of from 3 to 5
per cent.-perhaps 6. This view
is not only sustained by actual
experience for first five mouths,
but by the opinion of railroad
men eminent as railroad opera
tors.
6. The Board regrets to re-
port that Marshall county, the
largest stakeholder, has SO far
declined to extend the necessa-
nv loan for extension through
the county, but believe the
road itselfis growing in strength
and Importance with the people,
and that it is only question of
time with them to give the need
ed aid.
Z. The following facts may
be Of interest to the stockhold-
err. to-wit: From exhibits ID
and e in Secrctajy's reports is
shown that 13 miles of the road,
ON account of close proximity
/ TO the LIS n. Il CT. SIR, can
in no event be relied on for re-
muneratiye traffic, yet at the
same time expenses for main
tainance Of everything on that
ID niles is equally apparent, 1t
serves mainly as connecting
link for transportation fromthe
junction at Columbia.
s. The competition between
this and N. 81 G. 81 St. L.. r. K.
at Shelbyville and a few other
points for business interlnedi-
ate between these POINTS, less
ems the balance sheet on that
part of the road dong the prin-
cipal business That business,
or a large per cent. Of it, natu-
rally belongs TO this road and
this competition no doabb will
be gradually overcome, especial
lly in Marshall county, as the
odvontaoes of the road. TO the
,,oo,lo haca,le more and more