The daily gazette., 1879-01-13
THIRD EDITION
DELAwARE WESTERN R. R. co.

Il
ANNUAL MnDTING-REPoBr OF Tuh d.
RECToRs.
The annual meeting ofthe stockhold-
ers Of tho Delaware Western Railroad
was held at the Company's office, in this
city, at 1890 O'Clock this morning.
On behalf of the Directors President |
Candy submitted the following report
WILMINGTON, Del. Jan. 13, 1879.
To the Stockholders Of the Dslaudre West
era r. r. Co.
The Directors respectfully submit the
folio wing statement OF tue operations OF |
the road for the year 1873
The receipts have been as follows
Passage, 9,159 53
Ere, ght, 32,075 Is
NJ All and Mscellane-
Gus, 2,ooo % |
Total, s43, ,2s5 OF |
been 81 ,o22 e6
Leaving net gain of G,262 05
Ont of which have been paid:
The first dividend, 81 Asa
And balance Of note
in bank, 900 2,9s4 OO
Leaving ca h on hand, S3,27s %
less in 1873 than in 1877, ,422 B
The receil Is for freight were
less IN 1873 than in 1877 1Sl "a
Aggregate decrease. 2,l54l7
There was an increase in mail
and miscellaneous receipts
during the same time of l2S sS
Net decrease in receipts, 2,025 ~
Their is an apparent increase
inc expenses, of l,1Os ~
Show ing an apparent less IL
ing of net gain in 1873. as
conf pared with 1877 of S3,I33 ~
In common with other railroads of this
vicinity, and indeed of the whole coun-
try, we have met with some loss in busi-
ness during the past year, In the case
of this roati, however, the net loss is
more apparent than real, for the reason
that over 5000 has been expended in
bettermentS which will be spoken of
hereafter Early IN thu year aud at sub
seuu-nt periods he Directors made thor
ough inspections of the road. By these
they were fully convinced that il would
be wise to provide some new appurten-
ances for the better carrying on of the
business Of road. and as means might
be provided to renew III thorough man
ner such parts of the line as would soon
be liable to dangerous decay. Finding
that the cars Of the Company were being
heavily overloaded, thereby not only
losing the company much revenue, but
also endangering the trains, II was de-
termined to put in "A track scale. This
was done, and during the last six months
OF the year the entire cost was more than
rim bursed by the increased revenue de-
rived from its means.
An examination of the wooden bridges
and tr stiles over Sharpless' race revealed
the fact that they would soon be in a
dangerous condition and must be at once
renewed. This has been done in most
thorough and substantial manner by the
building of six heavy anufnlents by sub
stltutlng iron glrdrrS for the wooden
bridges, aud by filhng up the Intervening
tr' stlt. work.
Two other small bridges have also been
rebuilt with new walls aud iton girdcts.
The great Storm and tidal flood of Oct ..
26i, swept away much of the track on
the 81 nth SIDE, aud rs it was many davs
before the creek banks were repair red
the water on The marshes prevented all
communication with the freight house
and with the Y upon which our engines
were turned. The necessity Of providing
turn-table mr. the engine house was
so apparent, that linn. aiaie action was
taken by the purchase of suffi clent
ground, and the putting in of one of the
largest size and best constructions which
has since been in constant use. In addi-
tion to these improvements. much has
been done to add % the good condition
of the road. Twenty ton, of steel rail
have replaced the same amount of iron,
considerable amount of stone ballast
has been put in, ard several thousand
csoss-ties have bern renewed As before
stated, the aggregate cost of these bet
termentS over the cost OF ordinary re.
newal> was over $1,000
y close examination of the long and
Ii gh treStles on tho line of the road
brought to TIE attention of the dIrec
tors The fact that they would soon reuuir,
an annual expenditure of 50 800 to S3 900
for renewals. After careful considera
tinn II Is believed bat il will be advisa
bic for The company to begin AT once tn,
work of filling them up solidly will
dirt, expending each year until II is ac
comph-hcd the amount that vii
soon be required for their annual repair
and thu, avoid in the future the grca
expense Of receiving them. In order t,
accomplish this it Will be necessary I,
use portion of the annual profits. 1t j
hoped thar this can be done aud vet al
low sufficient for small, but regular dlvi
dends. II il Is nor done the road will q
some tlfne IN the near future lrqulr" :
much for renewal alone as TO absorb til
entire prot's. The Directors have II
hts'dllOu III Tttoniilr rhjlnS strongly IN
former policy ~ being in ,vrry Tesprt
more adv tntageous To the interest of III
stockholders.
The road has hecn run during the pa
year without serious aecitient. The iul
ing stock Is in good condition, and sufl
Client Tor an Increased business VIII
though trahic has diminished during ii
pa year, the local business has much i,
creased Arrar gemenis now being mac
VIII, II i expected, give further /
crease for The present year. On II
whole the Directors can congratulate Il
stockholders that their property is in e
ceien' general condition, that it is il
provif III value and that it is now in
condition 10 make some return for d
capital aId Out.
by order of the Board of Directors,
WIN. NJ. CANBY, President
ELECTION OF DIRECTIONS.
At meeting of the stockholders he
this morning, the following gentlem
w're elected Directors for the epsui
year
Edward Belts, WIN. Canby, VIM.