The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-12-11

| placed ON the eastern portion OF the North
| Carolina railroad. Two new iron bridges
Of sc feet span have been placed over Greek
crossings OF the North Carolina railroad.
and full repairs OF bridges and trestes at all
other points required have been made. In
pursuance OF the same policy, arrangements
have been made for 1900 tons OF 60-pound
steel rails for use during the present year.
A new freight-shed has been erected on
the compapy's property uear Rockets " harf
for the accommodation OF the trufsic con-
nected with sail vessels that receive and
discharge cargo at that point. a new
building for the accommodation Of The pub
| lie at the passenger station in DanyilIe has
been provided, and material Improvements
and repairs at numerous other stations ON
| the seTera! roads have heen made, as stated
| by the General Superintendent in bis re-
port.
| POSTAL SERVICE. CO.
! During the year the popular demands for
| improved mail facilities over the main lines
OF the company's roads have been literally
responded 10 by the Postmaster General
aud the chief officers Of his department, by
| the establishment Of through line OF
postal.cars between Richmond and New Or
leans by one Of the daily passenger trains,
aud between Danyile and New Orleans by
the other. The utility and convenience OF
this service to the public have become so
controlling q consideration 10 the CONNER
cial and general Interests OF the country,
and the location, extent, and superior con-
nections of your main line OF roads such
necessary factors in, meeting the wants OF
nearly one half OF the country south of
Washington IN regard to mail facSsiift hat
the management have not heSitated 10 pro-
vide. by the necessary expenditure, tor its
| accommodation, in procuring the proper
ton of po>tal-cars required on the part OF
this company, costing, in the aggregate,
SS,259 63.
EQUIPMENT.
The increased amount Of traffic which
| the operations of the company have deycl-
| oped within the past two years has re-
Quired the management to direct their at
| tention to the supply OF additional motive
power and other equipments; and in the
early part Of the year engagements were
made for two locomotives OF large capacity
| for use in the freight service. These have
very recently been delivered ana put to
work. To handle the present business
with economy, and afford proper facilities
| for the increasing business OF the company,
| it is considered necessary that six or eight
new locomotives should be provided at an
early date, and an addition TO the freight
car equipment OF from one to two hundred
boX-cars. The Board of Directors have
already taken some action with reference TO
this provision for the cOmDany's wants.
The equipment now in service has been
kept well repaired, and is now in efficient
| condition.
FINANCIAL.
Tue report OF the Auditor represents in
detail tie present condition Of the financial
and property accounts. Or the malred
bonds OF the company, SIG, 100 have been
paid as presented, and no additional issue
OF bonds has been made. The amount OF
assets held by the company has been main-
tanned All interest and other payments
have been fully and promptly met, and the
amount due the State for the previous year,
500, 222.12, has been paid in full. Bills and
| accounts payable have been reduced S91,-
| 974.53, as compared with September 30,
1878, leaving but little due on either OF
these accounts above the results of current
monthly transactions for materials, labor,
and ordinary operations, and Sl2,G1+.22 OF
the balance due on bridge and track to the
Tredegar Works have been paiG-leaYing
perty. The balance due the estate of r..
S. Burrows. deceased, on the construction
OF the coal branch TO Grove Shaft, near
Coatield station, amounting to S4,ST4 o.,
has been paid in full during the year. This
discharges all claim on that property, and 4
proper grant and acknowledgment Of title
to this company therein has been duly re-
corded in Chesterfield county.
KEYsvILLE AND GAINESVILLE RAILROAD.
A portion OF the people OF Mecklenburg
county, Va. have within the last few
months manifested a renewed interest in
the resumption and completion OF the line
Of railroad thirty.one miles long now partly
graded between Keysvillc, on the line OF
the Richmond and Danvil!e railroad. and
Clarksvilie, in the southern part OF Meek
lenburr county. A favorable charter, un-
der which the work is proposed to be re-
uewed, has been obtained from the LegiS-
lalure, and the plan OF narrow-gauge road
is suggested rs the most eligible upon which
to construct it. The people locally in
terested in this improvement repre-
sent their readiness to contribute
the most their condition will warrant
to the work, and ask the cooperation and
aid OF this company and its friends to such
extent as will enable them to provide this
to them most important communication
with their desired markets. This improve
ment is one in which this company and the
business community OF Richmond have
heretofore felt and manifested decided in
terest as Of value to the company and the
commercial community here; this company
having expended considerable sum in
grading about fifteen miles of the line from
Kevsvile southwark in 1878, but were COM
pelled TO suspend the wolk under pressure
OF the tiaaucial cmbarrassments which oc-
CURED in the fall Of that year. The Board
consider the subject one entitled to the IA
voruble consideration OF the company, and
submit it to the stockholders for such action
as may be deemed best.
GENERAL REMARKS.
The business Of the company during the
year has been conducted with success and
general satisfaction 10 the management-the
officers and employees generally displaying
that diligence and fidelity to duty which
eyince becoming interest in securing the
best results to the company.
The business results Of the year, as above
shown, are in high degree encouraging,
and affords the most gratifying assurance 10
the shareholders that, with the increasing
general prosperity now being felt through
out the country, your property has become
established as q secure and remuneratiye
one. Your stock has again taken position
in the market as 4 solid and valuable pro-
pertv. based on the productive capacity Of
your roads. The mortgage bonds OF the com.
panv OF ali classes are now in demand .
good market rates, and are daily appref i;