The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1882-12-14

1886 tons, renewing forty-three miles Of
track. The renewal OF crOss-ties has beer
large, and the ballasting OF track with per.
manent material continued ut considerable
expense. This latter work will require
further moderate expenditure for several
years TO come. Nearly twelve miles Of adj.
ditionaI track for sidings have been built
during the year. An iron bridge 600 feet
In length has been erected over the Dan
river at Danville, in place Of the wooden
bridge at that point. Three bridges on
the Airline road, one Of considerable
magnitude over the Broad river, have been
rebuilt, and thorough repairs Of other.
have been made as required.
Important
TERMINAL IMPROVEMENTS
Mt different points have been provided.
The rebuilding and enlargement Of the
wharves, warehouses, and docks at West
Point have been substantially completed,
and afford ample facilities for handling the
large traffic transferred al that point.
At Richmond the large lot and waIe-
house known as Mayo's warehouse, on the
east side Of Fourteenth street and opposite
the company's present depot lot. has been
recently purchased at the price OF 100000,
and improvements thereon are now in pro-
grcss to provide accommodations for the
receipt and delivery Of Richmond freights.
The want OF additional facilities OF this
kind at Richmond has been so long and
severely felt that its further DELAY was not
admissible. The property obtained wa-
the most eligible and probably the only
one within reach sufficient and available
for that use, and when fully adapted by
improvements in progress TO the purposes
i'm view Will afford q much-needed con-
ycnience to the company and it. patrons al
this point.
Large and valuable additions have been
made TO the buildings and machinery at the
CoMPANY's SHOPS ~ MANCHESTER,
and may he now regarded a. entirely alt
cquate TO all the present wants Of the com
pany for repairs. ~ well a. construction.
\ net addition OF twenty-five iirst-cla>,
locomotives, after deducting for one dis
used and four disposed OF during the year
have been added to the service. They are
OF large capacity and the most improved
construction. Two Others are under con
struction in the company'> shops, one OF
which i about completed.
About eight hundred ears have been
added to the freight equipment. Of which
about fifty were built by the company.
There has been expended during tho
year in new property for the Richmond
and Danyillc Railroad Company over and
above the amount charged TO mainte.
nance-vhich itself effects a large better.
ment OF the property rs represented in tn,
report Of the general managcr-in con.
struction and purchase Of real estate
Sl73.jl5.iS, and in new equipment S372,'
0l0.69, making an aggregate OF sji6. i26.l1
On the Atlanta and Charlotte Airline
road there has been expended over and
above a very full maintenance account and
some additions to equipment, S2SS,Gi2.6i
which is charged 10 betennents under ouI
contract with that company.
And on the Richmond. York River and
Che-apelkc road $50, ,SS3.31 have been ey.
pended in permanent additions and i'm.
prOyements TO the property, chiefly IN the
new work at West Point above referred TO
TIE GENERAL ACCOUSTs or The AUDITOR,
herewith submitted. exhibits the bono
debt and current obligations OF the com
pany aS OF that date. Since the Both OF
september the balance therein stated OF
$50, ,0i9.S3, as due the State OF Virginia or
original loan Of 2G00,000. has been fully
discharged. and proper release TO th,
company OF the lien on it, property there
FOR has been executed by the Governor Oh
behalf Of the Board Of Public Works, "a
provided by law. and the same has beer
duly recorded.
The floating debt, ~ represented by bill
PAYABLE at the close OF the fiscal year. ha'
,ince been reduced about $3.50, 600 from tn,
available resources OF the company.
The following
DIVIDENDS
have been declared by the Board Of Di
rcctors and paid 10y the cOmpany-yiz.
Dividend OF 81 per share, payable on The
18th day OF November, 1881, ont Of th'
net income OF the fiscal year ending Sep
tember 30. 1881; dividend Of S3 per share
February IL. 1882; one Of - per share
Nav ~. 1882. and one OF - per share
August IL. lSS2, payable ont Of the net in
come OF the present fiscal year. the aggre
cate amount being S3S0,000.
In accordance with authority and IN
structions given by the stockholders at thei
meeting, held July 3, 1852, | have exc
cuted and delivered, on behalf Of the com
panv, the deed Of release 10 the state o
Virginia. mentioned and provided for il
the act OF the General Assembly approved
April %, 1882. authorizing an increase o
the capital stock Of this company.
The additional subscription by this com
pany OF fifty thousand shares 10 the capita
Stock Of the Richmond and West Point
TERMINAL. RAILWAY ASD WAREHOUSE COW
PANY
has been made and paid for on the term
stated and authorized in the resolution
adopted nc said meeting. and the issue o
ten thousand additional shares OF the capi
tai stock Of this company haS been made
and delivered to the Terminal company il
part PAYMENT as authorized. making tn
capital stock Of this company now issueC
ffiy thousand shares. The entire holdin.
Of this company in The Richmond anC
West Point Terminal Hallway and Ware
house Company j. now ,j,l00 shares OF th
par value Of 800 each.
The principal roads controlled by tn
Richmond and West Point Terminal Rail
way and Warehouse Company, through
majority ownership, are the Virginia Mid
land. the Western North Carolina, tn
Charlotte. Columbia and Augusta, and tn
Columbia and Greenyille, which, by rea
Ion OF their relations, physical and propri
etarv. 10 the Richmond and Danyilie Com
peny'. lines, are worked in harmony will
Them and in close practical connection. IL
so far rs their respective interests properl.
allow. These roads are represented a. II
successful operation and improved physi
cal condition. Extensive improvement
have been made at North Danyille, joint.
by this and the Virginia Midland Com
pany, to facilitate the Interchange OF sucl
traffic a. requires transfer at that point.
THE WESTERN NORTH CAROLINA ROAD
has been fully completed and put in Opera
tion TO Paint Rock. on the Tennessee line
connecting there with the line OF the Eas
Tennes,ee, Virginia and Georgia road I
H. ,re., ard southwest. and is developing