Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1888-12-06
R. & D. STOCKHOLDERS
THgIR ANNUAL MEETING HELD IN THIS
CITY YESTERDAY.
President scotrs Report MAKES Fine
Exhibit for the Company-Gsorgla
Pacific Lsase-0fieers, &C.

hclent proxies 70 constitute maIOtity vi 'no
capital stock, and their work bad been so
well outlined that the meeting did not con.
sume more than a bali hours time. several
Richmond gentlemen and Mr.. John B.
McPhail, Of Charlotte county. were the only
others present Mr.. John =. Branch pre-
sided, with Mr.. Brooke s. secretary.
The Committee on Proxies, composed ot
Messrs. Rutherford, l.cPhail, and Oakman.
after a short retirement reported that 29,Z6o
shares OF stock were represented by proxy,
and two shares IN person.
PRESIDENTS REPORT.
This constituting q m dority and the meet
ing being declared ready for business, the
Secretary resd the report Of the President
and the Board OF Directors, which Is as fol-
lows:
To The Sioctholders:
Gentemen.-The annual report OF the Rich
molI aud Danyille Railroad Company ana
leased lines exhibits the following results OF mo
operation Of the system Tor the hscal year enu-
ing september %, 1893
The gross earnings we're sS.90s,95SSi an in
crease OF s6qLg7s.Si. or s 4G-l01 per cent The
expenses and taxes were s.. .24 1886, an IN
crease Ok f269 409. 81. or 3i-l0O per cent
The gross earnings Of the Richmond and Dan
vill0 proper we're A,e2tOl5,56, an increase OF
S3g, ,io207, or 6-iW per cont The expenses
snq taxes we're f2,569f2j.2l, an increase of sz5J-
232 Is. or 9 si.l0O per cent
The General Managers report exhibits in de-
tail the betterments aud improvements upon
The floating debt OK the company has been eI-
tinguished AMI It's finances are now In an emi-
nenuy satisfactory condition, leaving free IN it5
treasury reasonable reserve OF cash and mar
ketable securities.
The Increase in the bonded debt Of the COM
pany was mainly due 70 the settlement OF All |
the unpaid coupons accrued on tho debenture
bOud issue except on $4,000 still Outstanding /
"
change OF 10000 Piedmont per cent bonds |
not heretofore included Ia tho bonded obliga- /
tions for an equal amount Of this cOmpanysb |
per cent. consolidated mortgage bonds, ehectlng |
a saving Of $1,000 annual Interest
sEALL BONDED DEBT
The aggregate issue Of the bonds OF this COM
pany together with the capitalization OF the !
leases included in the report Of the Richmond |
and Danyiile proper, represents bonded In |
debteiness equivalent TO 4253lt per milo OF SIN |
gle track Including the entire Issue of Ier |
cent. consolidated. debenture. and general mort |
gage per cent bonds. an Indebtedness that Will |
compare fayOraDly With that OF any other s's- |
ten OF equal importance and earning capacity. !
The dcmsnds upon the company for largo !
Increase tn IL equipment have been and are un- |
ccasng and the loss Of revenue consequent upon |
the want Of sufficient car and motive equipment
serous Win tho constant and rapid develop
msut Of the South this demand will be more
urgent In the future than In the past, and you
are asked 10 provide the means Of aiding ma
ierialy 10 the present inadequate number OF cars
aDd olEine.
MORE ADEQUATE EQUfPNrNr.
would recommend for your consideration
and approval the issue OF S2.jQO.O)O equipment
tr0st bonds. secured by mortgage upon mo
equipment now IN use, or any purchased under
such trus with such provisions Tor the preserya-
tiOu Oi tho equipment aud liquidation oi The
Indebtedness as may be wise aud ludiclOus. The
advantages % bo gained by the company arc
not limited to the Increase Of traiic, a. the pay
monts OF mileage for fOreign-car service during
the past d-ca year amounted 70 she large sum
of slf- % f9 nearly all OF which could be saved
If tho company possessed an adequate EQUIP
menL
4 lease Of the Georgia Pacific railvsy TO this
company has boon negotiated and will DO sub
mifted for your consideration and approval
Tho acknowledgements of the stockholders arc
dfa % the heais Of fdenartments and the NM OYea
N the system generally for The faithful discharge
a their duties, and % them IS mainly duo inc
satisfactory results obtained.
GEORGE $. SCOTT. President
Extracts from tee General Managers
Report.
OFFICE or GENERAL MANAGRR,l
November Il, 1873 !
Mr. Georg, s. scott. Presfisnt Richmond and Dan
UI,e haiJoad Company:
Sir.-I have the honor 10 submit tho report Of
th, condition and improvements &c, 10 the
roads operated by the Richmond and Danyie
| Railroad Company fOr tho year ending Soptem-
Der 3D. lse3 3.627 l9i222i0 tons % steel rails OF
our standard 60h pounds sc 'tlOn have been put
Into the main lines, releasing other steel OF light
I or section which has been lad upon the lines of
lighter tranic IN place of iron rails; h.l.2O2 new
/ cr0ss-ties have been put in track. Old sidings
| have been heightened and new sldlngs DuIL ID
! tho extent Of 1898 miles.
STATION BUILDINGS.
Depot buildings and platforms have been kept
/ In good re pair and additions made. as follows
Al West Point large warehouses have been
erected on Wharyos r and r, ana new frst-class
/ cotton compress on wharf c also two high-ser-
/ wee tanks ior protection from hre have oeou
| built and the pipes extended to cover Tho new
| whaves.
/ RinggOld. Aston. Greenwood, Seneca, Belle
| mont ami lsheyIle and the nger-stai0n
I 40 Slarianburg enlarged aud improved 20 Oe
| practically equal o. new bllding. A large
/ aud convenient passenger-'tatl0n a. tharlOue -
| under construction. At Danytlle, Va, brick
| freight depot i3X2g1 feet IS under construction
and freight depOts have been built at Clifton.
/ Brandy, GrAnite Falls, Lancaster kichburg, and
| COnover. and transfer shed at Hot Springs and
/ cotton platforms az Greenwood. Pendieton. and
Walhalla. and further improvements are con-
I temIlated a. points where mcr easing business
makes them necessary.
BRIDGES AND TRssTLgs.
Wooden bridges have been replaced by first
| class IRON structures a. follows:
! Five spans Ot the James river bridge az Rich
I mOnd: 1873 lin feet IN The Y. "a. DIVISION. ana
material "a received for SO lin. feet more: 1,4l
lin feet of trsstles have been entirely renewed,
| and Mp lin. feet have been nlled with efnDanK-
ment and masonry. On the w. 6 o. X. X. three
bridges have been replaced by iron grders ana
| one hlled.
/ On the c. c. e A.. new iron bridge over the
Congaree river, and pile bridges Duilt az several
poHs where trestle- Wero Washod out by HOOD
| On &. & o.. 1925 lin feet OF pile bridging has
/ been built and seventeen open waterways nlled
/ In.
On the A. & c. Air Line thorough repairs
| have been ~ Ade to all bridges aud restes, and
] g. aI.aNF ~ Il md
! Cherokee to replace wooden structures; AZ MID
/ die Broad an arch has been built and filling Of
4 the trestie Is now ready 20 be begun.
on the W. y. G. K. X. three spans of iron bridge
! havO been built on masonry piers, replacing the
/ temporary bridge and trestie at second crossing
! Of French Broad river IRON girder al nrst cross
| ING Of Plat creek aud masonry for second cross
/ ing OF same. AtSWannanoa tunnel AZ feet have
] been lined with brick and $50 feet are now
/ trimmed and ready for the arch, and bottom has
been taken out 30 as 70 lover the track 70 It's pro
| per grade.
WATER AND COAL STATIONS.
New standard tanks have been put up at Alex
| audria. BrisiOe Aston, JOueSYiile. COnnellys
| Springs, MorgantOn. Hot Springs, Campton. ana
! Fall Creek. Coaling platform tOxlO feet has
/ been built at Ashoyilie aud another Is under
| construction az Setter.
During this nscal yoar the statesvile and
! Western railroad, twenty miles long. from
statessillo 10 Taylorsyille, has been completed
and put in operation: and the Blue Ridge rail-
! balla, one and eight teuths niles The gauge
of the Franklin aud Pitisylyania railroad ttnirty-
! seven niles has been changed from three feet
| 20 standard gusge -four feet nine inchss
On the Western North tarOiila railroad con-
/ siderable progress has been o. ade IN reducing
curvature AID grades by revision Of location,
| aud the matsrisl e1caYated for this purpose has
| been well utilized by widening embankments
| and improving the roadway.
Inns OPERATED.
Accompanying the above papers Is the
Auditors report, giving numerous tabu-
lated statements, embracing the general ac-
counts. earnings and expenses, &C., for the
following roads Richmond and Danville
railroad and leased lines; Virginia Midland
railroad and braaches; Western North Caro-
lima railroad and Murphy branch; Char
Iotte, Columbia and Augusta railroad and
braDches; Columbia and Greenyille railroad
and branches; Northwestern North Caro-
lima railroad; and Washington, Ohio and
Western railroad.
EQUIPMENT TRUST BONDS.
Mr.. Rutherford called attention to the fact
that the President, in his report. bad sub
nitted for the consideration OF the stock