The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1880-12-09


RtPoEr OF TEE EXAMINING coxxIrrEE.
The Examining Committee found the bed,
considering the dryness OF the season, In
remarkably good order. They recommend
that the baIIassiog Of road With granite be
continued ~ rapidly as the facilities OF the
company will t6stify. 'fsf
There are YET remaining IN the 6rst divi-
sion iwenty.three miles Of fIse old light
chair rails. These should be replaced with
aeel rails without any unHecessary delay.
The most important ldep1.-being that
logsted a. Richmond--is composed Of three
fra1ed sheds. They should be substituted
With permanent buildings suited TO the
wanfs and consistent wit Frhe dignity OF the
road.
The workshops in AancHesier hase been
increased In capacity by tte bui,dsug Of a
stOreroon aud boiIer.h0use,. botlp much.
needed improvements. In the 0pi0H0a OF
the committee there should be a row
foundry -bBildisg. and the present buistliRg,
occupied Jointly ss foundry aud sB3sRs
shop, could be very advantageously used ss
a smiths shcY alone.
The narrow-gauge roads from SutherIlu's
and from DanSttIe and the CbapeLH HSll' rail-
road open ND sew country 10 the road a01
ne iu7portanr feeders. They deserve en-.
eouraaemenf asnpconsideration.
The southern eunuections have been
greatly extended, and their influence on
passenger and freight traffic over tbercad
will prove important in the no very remote
ft,sure.
REPORT OF GENsRlL SUPERINTENDENT.
'Phe increase in passenger-train mileage
on the Richmond aud Danville railroad is
due in part to the resumption OF the Burke.
Vile passenger train on the 14,h OF March,
and partly to the larger number Of excur-
sion trains during the summer. The i'm
crease 10 mileage OF passenger trains on the
Northwestern North Carolina railroad Is
due 30 the daily passenger train which has
been established on that road.
preight-train mileage increased 1871 per
cent. IN consequence OF the increase Of
freight traffic. The percentage OF increase
IN ton mileage Is larger thaD that OF train.
mileage, wbichis due to an increase In the
average train loads:
The largest development appears in the
local passenger traffic, which shows an IN
crease OF 54,046, or 33s4 per cent. In the
number of passengers carried, and S47,-
IlO.l7, or 2l.1 per cent. increase in the
earnings tberefrOm. This is principally
due TO the large increase In this class OF
travel on the Richmond and Danville rail-
road-the number Of passengers carried on
that road being 32, 377, or 49.T per cent. more
than last yesr.
The number OF through passengers has
also increased materially, but chiefly be-
tween Charlotte and DaDvile. The largest
increase, however, in miles travelled and
earnings was between Charlotte and Rich.
mOnd.
Tue superintendent devotes a consider a.
BILE portion OF his report tO'a statement OF
the improvements made during the year,
water-stations, shops, and diyisiOn-hOuses
erected.
General T. NJ. Logan moved that the re-
port OF the president be referred to corii-
mittee OF nine. The following geptlemeE
were Appointed on the committee. +. Nj.
Logak&R. j Hubbard, y. X. Scott, John
stewart. William II. Palmer, w. p. Clyde.
j. II. DoOley, M. MiiIbiser, and II. V.
Gaines.
The following resolution was offered by
General hogan, aud was referred to the
committee named above:
Whereas IL may become important and
necessary for the development and protec
ton OF The oompany's business and inter.
ests 10 encourage and aid to- a limited ex-
tent the completion OF some Of the unfin-
lshed lines of railroad connecting with the
company's main lines In Virginia and North
Carolina ;: therefore
Hesolued, That the Boara OF Directors be,
and they are hereby. authorized to extend
such aid TO such OF the improvements re.
lerred TO as In their judgment may be wise
and for the best interests OF this company,
but not TO exceed in'the aggregate the sum
of 5000 For this purpose they may, II
deemed proper by them, subscribe TO the
stock of the Richmond and West Point Ter.
minal Roilmay and W arehouse Company
provided, however. that no such subscrip
tion shall be made until said Richmond and
West Point Terminal Railway and Ware
house Company shall be duly organiZed ac
cording to law, and shall have connected Us
railway with The line OF railway OF this
company. In carrying out these objecis
they may cause TO be sold so many of the
general mortgage bonds Of this company
rs they shall deem Necessary from time to
time, NOT exceeding In The aggregate the
sum OF S5O0.000, and at price not less than
9J per cent. OF their par value and accrued
interest.
AS will be seen by the report OF the pres
ident, a 3 per cent. semtannual DIVIDEND
will be declared on the stock, the stock az
gregating nearly s4,800,000.
The meeting then took recess until
O'Clock. When 1t was called TO order agaiI
the following was presented:
To the Stockholders Of the Richmond dnt
Danviite Raaroaa Company:
Gentlemen,-Th committee to WHOM
were referred the reports OF the presiden
and Examining Committee and the Ieso
tuition offered at your former session OF 20
lav have madeas full an examination as tn
limited time allowed them would permit
and respectfully report
| That the repoFt o. the president De oc
cepted and adopted.
That the report OF the Examining Com
millee be approved, and the recommenda
ti0ns therein contained be referred 10 I'd
Incoming Board for such action az may u
their Judgment be for the best Interests
the company.
| Your committee have unanimously adopt
ed the following resolutions, and would n
commend their adoption by the stockhoic
trs-yiz.
| Rssotved. That the management OF ID
affairs OF the company for the past tweiV
months calls for the highest commeDdatio
ON the part OF the stockholders, and that th
policy adopted gives promise OF The mos
beneficial results TO the stockholders, 10
CITY OF Richmond, and the State at large.
Resolved, That the committee report bac
to the meeting the preamble ana resoiutio
which were referred TO them, aDd recon
mend the adoption OF the same BY the NEE
| ing.
Respectfully submitted.
| L. NJ. LOGAN, Chairman.
The stockholders then went intD the eie
ton OF officers for the ensuing term. Col
mel A. s. Buford was elected president, on
the following were elected director,
| uessrx " Stokes. A. J. CaS,att, w.