The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-12-09
spect. which the Board are OF opinion are

not excessive.
The report Of TIE pcddor, presenting. th
general aud income sccounts aud ofbe
usual special statements, Is herewith sub
mitfed.
The amount OF balance due on State loar
September go, 1879, has been reduced By
payment S79.847.37, and the interest paid
on the present balance TO the end Of the IssI
fiscal gear. all matured bonds OF The com.
pany, except few thousand dollars not
presented or within reach, have been paid.
The funded debt OF the company, including
the balance due on State loan, has been
reduced s49.647 81, while the resources
Of the company In The items oil
supplies Of material on hand, balances due
by connecting lines and individuals and
cash, are Increased sl93,247 % over the
amount OF the same items at the commence
ment Of ths past fiscal year.
The balance OF s1l, ,89S SO, due, AZ report
ed at the close OF the past year, on account
OF construction OF the bridge and track
known AZ the Belle-Isle aud TTedegar
branch, has been fully paid.
| The results OF the census bust taken, con-
6rming, as they do, other evidences Of the
same facts, clearly show that the population
Of the South. Atlantic States, with which
your system oisroads Is cbief1 interested.
has made the mos; encouraging advwmess
within the last decade, and has recovered q
degree OF prosperity which affords the afiar
plest assurances OF the continued develop
meme of al those sources OF traffic which
contribute to the revenues OF your lines.
In many portions Of these States the culrupe
OF the great staples Of cotton and tobacco is
being extended TO new sections, and the
l,rn Lon n far lI,y Ia, , ;,.
net value to the planter BY improved me-
thods OF fertilization and better system OF
farm labor. The gradual accretiOns of local
wealth that Te~ult are taking form in new
enterprises Of man uiacturing and mining in
various localities thai inspire new energies
and promise new rewards to the revived ln-
dustry OF all classes and sections. The in
crease In population, wealth, trade. and
manufactures Of Richmond, DanvillP, Ra.
leigh, Greensboro, Salisbury, Charlotte,
and the cities and towns south and soulh
west thereof, represeDIsthe degree In which
| the industrial ACTIVITIES OF these States are
rapidly recovering their former proportions,
which are very soon probably to exceed any
at any time heretofore attained.
| The construction of the Richmond and
Allegheny railroad from Richmond west
ward through the rich agricultural, mining,
and manufacturing districts il peDeirates,
now running seventy-6ve miles, and very
nearly completed twice that distance; the
completion OF the western connections Oi
the Chesapeake and OHIO railroad TO the
great centres OF western trade, now within
sight OF certain realization, with its pro.
iected extension to Newport News; the
communications now afforded by the York
River railroad, with its enlarged and am-
pie terminal improvements on deep water
| at West Point, and the constant and perma-
nent Improvement OF the navigation OF
James river from Richmond TO Hampton
Roads, are not only prominent and event
| full facts in the history Of the State, but also
to this company, as favorably affecting its
future prosperity and usefulness.
| They are new and Interesting factors in
aiding and confirming the result-tO which
| The influence and enterprise OF this COM
pany have already so essentially contri-
buted--of giving 10 Richmond u CONNER
cal vantage. ground and importance hlther-
| 10 unknown. These constitute the strength
| Of your main lines and ibe secure founda-
tions OF their future success and, as facts
that are hardly OF secondary importance,
we refer with satisfaction TO the OrgaDIZa-
tion and active progress in construction oi
system OF narrow gauge roads from Dan
vile westward into the productive and
| hitherto isolated bordor counties OF Virgil
MIA and North Carolina; also the now as
sured early completion OF the Western
North Carolina railroad from Salisbury, on
the North Carolina railroad, TO the Tennes-
see and Southwestern system OF roads, by
| hich your man lines will be put in direct
and favorable communication with the
great lines that control largely tie traffic ol
the West ard Southwest TO and from the
South Atlantic SeaDoard.
The extension OF the connected interest.
OF the company with the roads I'm the terri
tory south OF Virginia, as heretofore and
now being effected, with the consequent
enlargement-di and incidental-Of The
cOmpany's traffic and traffic relations In
that section, has necessarily brought along
with it corresponding obligations to follow
up and utilize the opportunities OF perma
nent advantage to the company thus afford
ed. Impressed with this conviction, jb'
company has endeavored TO pursue sucl
Dolicy of management as seemed best sulfet
to reach the just result 10 the company o.
this extended organization, and at the same
time in harmony with an enlightened pub
lie sentiment, which recognizes the in
creased facilities 10 be thus secured to th'
trade and industry OF the country IN all H.
branches; and, as part OF such po'lcy, tt
adjust equitably, and TO harmonze a. far a.
practicable. business connections and rela
lions with connecting and competing line'
with a view TO economy OF administrator
and the maintenance OF better uniformity
OF rates, In which both the company ant
the public are alike interested.
This work amidst the extension, compile
ton, and Reorganization OF railroad lines
now regarded as essentially neces>ar, 10
their successful operation, has, by common
consent, been found TO be 0ne OF the mos
difficult features Of railway management
that taxes with incessant demands the al
teution and labor OF those charged VIII
this responsibility. Experience IL dali
demonstrating some OF the requisites TO 10
only safe policy 10 this regard, based upo
an intelligent recognition OF the just righl
OF each line OF road. as well as those OF tb
public, wherever conflicts OF interest ant
, competition naturally or circumstantiali
exist. The best methods OF securing thes
important objects are yet, to certain ex
tent, experimental.
None can be useless, however, II pursue
with an eye TO such improvements as exp'
. rience may suggest. And, with TINS we"
this company has united recently with othe
!. lines having similar interests In system G
common agencies for the superintendent
OF its general traffic, both freight and pa
seuger. il unnecessary expenditure, ffi'
tI6n with the public, and hostility OF mar
/ agement can be diminished or avcIted ther'
by, important and valuable results WIZ 0
attained. One thing Is certain, Few II an
of the s0utbeIn-we may say American
roads can be maintained ut that standard
efficiency necessary TO fulfil their duties
the nublc and meet the iust expectation