The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-09-29

RECEIPTS AND DISBURSEMENTS.
The cesh balance on hand July l..
There q hsS Sis hscn r.caiv.J during ihs -
year from all sources. l.S90.S9T lO4
And ez,.ns s199ssee,sss s1;9se,sss g g
Leaving balauce on hand June 3o,. -
1S79...... t'.',..r...r..S 23o.oS3 ~
RECEIVERS RESOURCES AND LIABILITIES.
The receivers resources exceed their liza
Utilities, including interest due July 1, 1879,
on divisional bonds, by the sum ofdSl2O,-
253.73. -...... .yn Is az.fs4
The ole floating Indebtedness of the cem-
;pany has been reduced durIng the past year
by the payment Of the following amounts {:
On account Of unassigned back labor
On account of interest on divisional -
= bonds, which accrued prior 10 July u
Oh aecoani or receivers coiiattral
NOTES. .....' 4fS'ooo w
.'f' Total. ......9223,9U6 03
: The receivers collateral notes we're paid
out Of the proceeds of the sale Of 5000
n. and P. second mortgage, s per cent,
S41, 600 Southside first preferred per cent,
$1,000 Virginia and Tennessee third mort
gage per cent, and $4,000 Virginia and
Tennessee Understanding g per cent.
bonds, thus increasing the bonded debt OF
the company by the sum OF Sl44,0o0. .! .s
There has been paid on account Of inter-
est on, divisional bonds due July l, 1873, and
January I, 1879, the sum OF S349, 159 10,
payment being commenced October l, 1878,
and March 1,J879, respectively.
The interest on divisional bonds due
due July J., 1879, was paid on and after that
date. ... .-... ....... ,-...... .... ..'.
Your receivers see no reason why, in fu-
ture, payment OF this interest cannot be
made promptly at maturity. b..
ATLANTIC, MISSISSIPPI AND OHIO AND DIvI-
... .t.l D." SIGNAL BONDS.
There were outstanding June so, 1879, in
the bands Of the public S9G7,G00 OF bonds
secured by deeds OF trust OF the Norfolk
and Petersburg Railroad Company, 81, 1885,
800 Of the Soulhside Railroad Company,
S2.395, ,I90.73 OF the Virginia and Tennessee
Railroad Company, making the divisional
Indebtedness S5,10l ,O90.73; also, S134,5S4
nterrst-funding notes, secured by divi-
sional coupons, and S5,470,000 first mort
gage bonds OF the Atlantic, Mississippi and
Ohio Railroad Company. In addition 10
the above there is outstanding second
mortgage OF the Atlantic, Mississippi and
Ohio Railroad Company to the State Of Fir-
sinia for 81 10000 making the total bond
ed debt outstanding June 80, 1879, S14, I05,-
G74.73.
The Court has ordered the cancellation
Of The S16G, 900 divisional and S474,000 At
lantic, Mississippi ani Ohio bonds in the
hands OF the receivers.
Under and in pursuance OF the authority
conferred upon your receivers. by order OF
Court, dated December %, 1877, they have
extended, with the consent Of the holders,
for ten years from January l, 1878, 1882, 800
per cant. and 1862, 800 7 per cent. Norfolk
aud Petersburg first mortgage bonds, leav-
ing but $4,000 OF these paSt-due obliga-
tions which have not been extended.
OF the Atlantic. Mississippi and Ohio
Railroad Compa1y'S Understanding notes
there huye been extended for ten years
from january l. 1870, Sl17,554, leaving
SIT, ,030 which have not been extended.
- EARNINGS AND EXPENSES.
The earnings during the year have been ::
From passenger trains.-............$ 4l3.S1G As
From 'onrage trains................. I,2oO,SZs SV
From miscellaneous sourcos........ 1886 40
sl,672,131 SO
AND the expenses for operating, in :, = =.
cl,IdulS taxes aAd law-fees. ......... SS2.973 IL
-.' t. ..@ ~ $ 7se,l5s 72
For renewals. sl77,115 81 .
For further construc- ... b., ...s.
- -. --- 226,161 O.
Leaving 4 net revenue eof............S 562.997 IS
The operating expenses, exclusive OF re.
newal>, were 81 $40, and including renew
ais G3 4. 10 per cent. of the gross earnings.
y comparison with the results OF the pre-
ceding Year shows decrease in the gross
earnings OF $l09,5IS.19, q decrease in the
expenses OF S242, ,442 15, and an increase in
the net earnings OF sl32,S63.96. The de-
creasa in the gross earnings is dine in part
to tbe falling-Off in the local passenger bu>i-
ness and the reduction OF rates in local and
through freights, but mainly to the prera-
lence OF the yellow-fever epidemic at New
Orleans, Memphis, and points in Tennessee
and NJ ississippi, which necessitated the sus-
pension Of the largest portion of the COM
pany's through traffic for sekelai months oil
last year.
ROADWAY AND EoCIpAGE.
During the past year your receivers have
continued their efforts to maintain the road,
in good condition and to make such imr
provements as the means at their disposal
would permit. Four thousand tons OF steel
rails, equal TO. 46 12-lo0 miles, have been
purchased dIlring the year, MAILING
1850 13 100 IONS, equal to 167 62-100 miles,
since the read has been operated by lsirec-
ton OF the Court. By the middle OF Sep
tembcr there will be in the main track OF
the road 194 o. 100 miles OF steel rail,
1859 26.100 miles OF English hsh-bar,
20 61-10Q miles OF rerolled fst-bar, 2l-l00
miles Of r char, and 16 miles OF old Z rail.
Some r,i the iron rails have been in the
track for over TWENTY-FIVE years, and are
now wearing out rapidly. TO keep the
road in good order, about forty miles OF
iror rail will have to be renewed each year
Up til the entire road has been laid in steel
The sum OF SS9,63S.37 has been expended
during the year in renewals and further
construction OF masonry and bridge super
structure.
The new iron bridge over New river
consisting OF six spans, each l2S feet, ha'
| bean completed, and forty-three smaller
bridges have been renewed on that diyi
sion OF the road. Anew triangular compo
cite bridge OF 105 feet span has been bui!
over the AppomattoX river at Petersburg
At Norfolk the ground has been prepared
for the erection OF new freight DEPOT
OBS. .234 bushels of oyster-shells having Dee'
/ used in raising and widening the depo
At the close Of the year for which this re
mort was made the company had eighty-hy
locomotives in service. Three new passen
! ger locomotives have been added and tW
Homage locomotives condemned during I'd
year. -. -
l.. CoIoRED TRELs.-HaYerly's real ne