Daily Republican., 1881-01-06
TEE r. w. q \. RAILROAD.
The Forty Third Annual Report of
lhe Hozrd OF Directors

The Philadelphia, Wilmington q
Baltimore Railroad Company makes a
good showing for the year ending Oct
3lst. 1850.
President Hinckley's report to tht
Directors show that the receipts for the
year, for the main stem, Soathern Di.
vision and Port DePoeit branch Were
e3, 1853, ,110.h0, and the expenditures
we're 81, ,S96, 8S737. The reseipts lesf
operating expenses were 81 1868, 222 13
The total surplus for the year after de-
ducting ground rents, interests divi'
dends and all manner OF expenses, was
$s55, ,965.65.
Passenger receipts in 1880 were more
by IA 6e per cent. than in 1878.
Freight receipts in 1880 were more
by 13 81 per cent. than in 1879.
Gross earnings In 1880 were more by
l4.50 per cent. than In 1879.
Net earnings in 1880 were more ~
5.64 per cent. than in 1879.
Operating expenses IN 1880 vert
more by 1896 per cent. than in 1873
Taxes in 1850 were less by go pei
cent. than in 1879.
Interest, &c., less interest, &c., re,
ceived WAS more by 1873 per cent
than in 1879.
PresIden! Hincksy says: "Th!s
company has Tor many years experien'
ed mach difficulty and has met with
many accidents in drilling its trains
in the city streets. Some twenty acres
have bssn purchased outside Of Will
mingtcn, aad tracks, water STATEN,
and iHterlocking switches placed there
on; and now the transfers Of freight
trains to and frsm our Southern aivi-
zion, Delaware railroad, Delaware and
Western railroad, and Wilmington
Northern railroad are made at that
spot, and the city streets relieved.
1.-THE item EBAY View Improvement"
denotes a similar invsstment Near
Baltimore, to enable us 10 make freight
trsins outside Of tho city linits,"
Referring TO the Item G! 800, ,OOs
charged to the revenue on account Of
the depreciation in the P, W. Il B.
Co.'S account against the Dorchester
and Delaware Railroad Company the
report says:
The company in 1859 leased the Dor
chester and Delaware branch Of the
Delaware railroad, agreeing to pay
any rent. They have also 0een unable
to repair their equipment fron time to
time, and this company, rather than
have work stop Oh a tributary road,
have repaired their rclling stock.
During the year the corpany's pas
seuger trains ran I,0lG, AIS; freight
trains, 794 s53; construction trains
1851.
The company owns IS engines, l79
passenger cars, l, 1858 freight cars and
Is wood, tool, crane and construction
cars.
In conclusion Mr.. Hinokley says:
During the year the Wilmington
Steamboat Company spent nearly $780,
00e upon repairs of the steamer ''Fel-
ton," and the sum of SIS, 900 has bsen
charged to Revenue on this account, to
prevent that Company's debt to this
Company exceeding the value of that
Company's assets.
To provide . part OF the funds for
the purchases and expenditures above
described, ysur Board deemed it advis-
able TO borrow 81 100000. According,
ly, they caused to bs issued and sold
at small premium the bonds of this
Company, bearing five per cent. inter-
est, and payable at the end Of thirty
years, for that amount, and protected
by aSinking Fund.
The operations Of the Roaa during
the year have been well managed by
your Superintendent, H. +. Kenney, 10
whom and his snbordinates much cred
il Ia due therefor.
The condition of the Road and its
Equipment was never better than at
present, as your Directors know from
personal observation.