Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1891-11-17
THE YEARS EXHIBIT.
SHOWING MADE eY THE PETERSBURG
AND r. d p. ROADS.
Two Meetings OF Stockholders Held Yes
tsrdsy- Reports Of ofarers Read
and oniosrs Elected.

The annual meeting of the stockholders
Of the Petersburg Railroad Company was
held In tho Byrd-Street station yesterday
morning at II O'Clock, aud the reports Of
the various officers of the corporation were
read and adopted. The Presidents report
is as follows:
PETERSBURG RAILROAD CoNPAEr,l
RICHMOND, Va, November 10, 1891.
TO ne Stockholders;
Tho Law requires tina. at every annual meet
ing OF The stockholders Of any joint stock com
pany the board shall make O report OF the con-
dition Of She company 70 the stocknoiaer@
Complying With tots requirement. o. .ne stasu.o
dent and directors the regular annual report OF
the General Manager, accompanied By tne re-
ports Of the General Superintendent, Superin-
tendens, Auditor, and Treasurer. These reports
set forth fully the condition Of the company and
OF lie property at the close Of the fiscal year
ending June 80, 1891.
The gross receipts are stated and the sources
from which they were derived are set forth In
detail Ia the General Managers report as are
also the costs OF maintenance and operation, as
well as the other expenditures made, 20 ae 70
make II unnecessary 70 repeat them In this re-
port.
These reports show a most satisfactory result
Of the business Of the company during the year
The property Of the company 10 In excellent
EXTENDING TIE CHATTER
The attention OF the stockholders Is called TO
the fact that the original charter OF this com.
pany, which was granted by the Legislature Of
North Carolina Mt LIS session OF 1880, was limited
20 sixty years. At the last session OF the General
Assembly Of North Carolina Application was
made for az extension OF the charter. The mat
ter was thoroughly investigated by committees
Of the Legislature and the bill extending inc
charter was reported upon tayoraoiy, Dut tne
Of the charter limited It 70 the short
term Of two years. No cause OF COM
plant against this company or it's management
Was ever alleged or stated as reason s1r s,te
to so short a term. The sole reason assigned "
those who opposed a more liberal extension, 20
far as this company has been advised, was tnat
some OF the stockholders In this company we're
also stockholders In company Ia that state
which had certain privileges under its cnarter
that they now desired 70 have released, ana an
effort was made to oOerce that company In North
Carolina holding those privileges 70 surrender
the same by withholding an extension OF the
charter Of this company.
MORE LIBERAL POLICY HOPED FOR.
Ii is hoped that the next General Assembly Of
that State will act more literally with this COM
pany in this matter, ana 20 lar as the President
and directors are concerned we see no reason
why the charter should not be extended indeh-
niteiy, and know OF no complaint against this
company or anything which has or can be do
IuA0Qe0 OF IL as CONDITION OF NutSh
has not already been consented 70. Under the
original charter Of the company, 10 was ex-
empt from taxation, and IN the bill ex-
tending the charter, which was introduced al
the instance OF this company, IL was made
condition that such exemption should cease, ana
that the company should be subject 70 the gen.
eral laws OF the State Of North Carolina not
withstandlng any special privileges that may
have been enjoyed under the original charter.
The board takes pleasure In reporting 10 the
stockholders that the several officers ana en-
plOyees OF this company have discharged their
duties faithfully and intelligently.
w. q. ELLIOTT, President.
GENERAL MANAoER's REPORT.
The report of General Manager II. Wal
tiers for the fiscal year gives the following
figures:
The gross earnings we're:
Through freight. .s2o0,s33 10
Local freight........ o4,OI3 "a ,- 90, %
Through passenger. 109,050 "a
Local passenger. 27,4O0 ~
Express ........................ 1920 70
United States mall ................. 1924 Az
Excess baggage. 9og -
MiscellaneCuA.......... fof Va
Total. ................."...s52 ga AZ
Expenses
Maintenance Of way
and structures. 20 61,244 So
Maintenance Of equip
nent .............. e3,462 80
Conducting transport
tatiOn. ........., loo,uf3 u
General expenses. 44,Ov9 n
Total. 333,eoO fl
Not receipts. .............. sI08.704 OF
Operating expenses, 03.2 per cent. OF gross
receiptS.