The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1882-03-14

THE PETERSBURG RAILROAD COMPANI-AN-
NUALR REPORT OF THE PREsIDENT-GRATIFY
ING CONDITION or TIE ROAD-MEETING OF
TIE BOARD OF TRADE-REsOLUTI0NS ADOPT
I'D IN REFERENCE TO THE TOBACCO TAN
SENT TO MICHIGAN FOR TRIAL.
Correspondence of the Richmond Dispatch.l
MARCH -, 1882.
The annual report OF the president Of the
Petersburg Railroad Company for the year
lending December 81. 1881, makes an en-
couraging statement OF the condition OF
that road. The management OF the pro
perry had l,een controlled by the United
States Circuit Court, through receiver,
since the 14th day OF May, 1877, and was
of May, 1881. The income OF the company
for the year is stated at 1906, 057.02, and
the operating expenses were Sl63,9S2. AZ;
leaving net profit OF S142.O7f.60-a sum
ample to cover the interest charges.
These operating expenses do not in
clude some $4,000 for legal eX-
penses incurred in and growing out OF
the discharge OF the company from the
court, the preparation Of new bonds. and
recording the deed, nor $40, 900 for the pur-
chase of 300 tons of steel rails more than
the annual requirement OF the road. The
ING, and has risen from 1888, G45.12 in 1877
TO s3OB, Oj7.O2 in 1881. The increase in
1873 was Sf,672.4f; in 70. S13,364. S3: in
80, SS3, 1853; and in 81, SG5,SSS.17.
The receipts of the company in 1859 were
over 1928, 0O0. and there is hope OF similar
result for 1882. and this mt charges for
transportation much lower than were then
in force. The local charges for passenger
transportation are now three cents per mile
as against five cents previous to the 1st OF
last July, and the receipts show an increase
of 6 per cent. The company has expended
S3S, 1882 for improvements in the way OF
machinery and accommodations, and will
require for additional improvements the
sum OF $50, 800. GJ-thc whole being less
than was estimated as necessary for this
purpose at the REORGANIZATION. Ii Is in
tended to eXpend the balance for the pro-
vision of better arrangements for fuel and
water ut stations, and some new machinery
at the shops. The bridges are all in good
condition except the one over Nottoway
river, which will be replaced in a few
weeks with an iron structure. From the
superintendents report it is learned that
the company has steam-pUmps at several OF
its water stations and double tanks ut
others. Several new locomotives and pas
senger- and boX-cars have been added to
the rolling stock during the year. On the
whole. the road is declared to be in most
healthy condition and ITS prospects bright.
At meeting OF the Tobacco Association
of this city held this morning the follow
ing resolutions we're adopted:
ReSOiUed, That this Board of Trade do
earnestly petition the Congress of the
United States, should any legislation be en-
acted looking to the reduction OF internal
revenue taxes, that the whole tax upon to-
bacco shall I've removed. This entire Board,
representing dealers, jobbers, manufac-
turers, commission merchants, the repre-
sentatiyes Of tobacco-planters, are con-
yinced that the frequent agitation of the
question OF tobaccO-taX reduction inficts
great injury upon the growers. manufac-
turers, and dealers In tobacco, and believe
that all these interests will be most bene-
lifted by repeal Of the entire tobacco-tax.
ResOlred, That we most earnestly urge
the necessity Of proper legislation 10 pro-
tect the interest of all dealers in tobacco,
and, in the event OF u repeal OF reduction
OF tax upon tobacco, that rebate equal TO
such reduction shall he granted upon to-
bacco upon which tax may be paid between
the date OF the passage OF such law grant
ing the rebate and the date Of such law re-
ducing the tax. What we most desire is
prompt action for the revival OF the trade.
which is now dead. and must remain so
until relief is given, either by total aboli-
ton or rebate, as herein suggested.
II is probable that several Of our tobac-
conists Will attend the convention OF the |
trade which is called TO assemble in Wash !
ington on Wednesday.
+. II. McCracken, the alleged Michigan
offender, with whose case the readers of
the Dispatch Is familiar, was sent back to /
that State yesterday afternoon under the
order Of rendition issued by Governor
Cameron. He leaves wife and six chill
dren In Chesterfield county. and the officers
who went aftcr him represent the scene OF
separation between the accused and his
am'ly as very affecting one.
ROBIN ADAIR.