The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1883-11-28


The annual meeting OF the stockholders
OF the Richmond and Petersburg Railroad
Company was held yesterday at noon In
the Office Of the treasurer, in the compsny's
office, at the corner Of Byrd and Eighth
streets.
The meeting was called to order by Ma
ior F. X. Scott, president OF the company,
upon whose motion Mr.. Charles Ellis was
called to the chair, and Mr.. NJ. W. Yar-
rington made secretary.
On motion, the chair appointed Messrs.
II. X. Ellyson and III. L. c. Baskervill n
committee to inquire into the amount OF
stock represented, and ascertain II quo
rum was present at the meeting.
The committee made the following re-
port:
"That it appeaps by the books Of the
company that the whole capital stock Of
the company consists OF 1908 shares ne
cessary 10 a quorum, 5.047 shares-and
that 554 shares were represented in person
and Z, l61 by proxy, making in aitJ s5l5.
PRESIDENTS REPORT.
The report of the President was read, az
follows:
On behalf OF the Board OF Directors submit
the following statement OF the business Of the
company FOR the fiscal wear ending Both Septem-
Der. 1883:
1882. 1888.
Gross rsceipts.......s174'37s go sls2,s2o 90
Net receipts..... s56,596 SO 7s245 Al
Interest on debt...... 1884 81 1887 ga
Net revenue... s3s,e42 s2 s62.s57 SO
In the last annual report ] informed the stock
holders that the Board had "determined TO
erect over James river as soon as convenient a
permanent iron bridge Of the very best construc-
tion." Early In the past year specifications were
prepared by Mr.. }. X. kenly. superintendent; and
considering the great cost Of such structure and
the importance OF having bridge of the very best
design, material. and construction that modern
engineering science could produce, Mr. o. Chanute
was engaged As consulting engineer. The reputl-
tlon OF Mr. Chanute as a bridge engineer places
HIM at the very head of his profession In this
country. He made close examination OF the
Specifications. and subsequently, Of the detail
drawings of the plan and under his advice a con-
tract was made with Messrs. Clarke Reeves & Co.,
Of Phpnixylle, Pa, for the construction and
erection OF the bridge, which has been nearly
Mr.. Kenly, superintendent, In his report tsub-
mfted herewithl gives careful explanation OF the
/ of the approaches. and copies from the report OF
Mr.. Chauute. The result may be simply summed
up In the statement that the weakest span Is strong
| enough 10 bear load five times greater than will
be put on IT, The tests applied to the bridge since
fits erection confirm the calculations I'm most sat
isf2cLOry manner. therefore the stockholders ma
be confidently assured that this great work for
practical use Is equal 10 any ralrsad-bridge In the
country The cost will not exceed the original es-
| Inmates Of Sl66,000 for the completed work. but
| the nlling on the south end and the span on the
north end viii not be completed until next
year. The expenditure for the bridge up
| to the end OF the fiscal year was s96,-
| 623.4O, which has been charged 10 a sepa-
rate account The bonded debt Of the company
has been increased $4,000. The balance was
paid out of accumulated revenues, as no dividend
on the stock was paid for year after the loss OF
the old bridge by fire. The payment Of dividends
was resumed on The lst OF July last Al the rate OF
! 5 per cent. per annum. The directors have de-
clared 4 semi-annual dividend Of 2h per cent. IA
be paid the first day of next January. and II Is
believed that this rate will enable the company 10
pay the balance Of the cost Of the bridge from
| surplus earnings, with perhaps small Increase
/ I'm The bonded Uebt. Twenty-four thousand dollars
of the old per cent. bonds. due the lst day OF
vision made for the payment of the balance as they
mature during the next three years. The suits
against the company for DAMAGES TO property
| caused by the FIRE of March, 1882. resulted IN a
verdict for the company IN the first test case. and
the others were Withdrawn upon payment by The
know that in the close legal investigation made IN
this case no fanlt negligence was proved against
any Of the officers Of the company
The superintendent reports In detail the ex'
penditures for permanent betferment made du
| ring the year. and charged TO operating expenses
| The tables OF the treasurer and auditor Will bt
| found. as usual. comprehensive and accurate. Al
| the officers Of the company have discharged thei
| dulles in a satisfactory manner.
! FRED. X. SCOTT, President.
Mr.. Ellyson offered the following, whici
was adopted:
"The president having informed th'
meeting that as there was no quorum OF tb'
Board Of Directors at the meeting callet
for to-day, he was unable to have forma
approval OF his report to the Board before
presenting It TO the stockholders but as h'
believed it would meet the approval OF al
the directors, he asked the confirmation by
the stockholders OF the dividend Of a PEE
cent, to be paid on the 1st Of Januar!
next; therefore be il
L" ReSolred, That the report OF the presi
dent be received and adopted, and the div
idend reported as declared be approved
and confirmed.
sUPERINTENDENT's REPORT.
The report OF the superintendent, as fol
lows. was adopted:
The following report Of the operation Of IN
road for the year ending september 80, 1888, ]
respectfully submitted:
GROSS EARNINGS.
| Passengers-Through... 3i,327 81
| LOcal...... 4s,292 80
Freight-Through... 45,76l GA
| Local......... 32.442 "a
Clover HILL. $50 62
Clover-Hill
coai.......... 2,044 AZ
xpress.......'.'"''.''. ,4'S1g %
Mail 1857 %
sIsO,5e5 29
Miscellaneous. 1925 II
EXPENSES.
Conducting transporta-
Motive power..... ..... 24.9s0 so
Maintenance of cars. 1925 OF