Year: 1868

UcsH CHTEleU 6S IdT aS u pEuueuG AcS@kUi ~"
the safety and good management of the
company and its credit will allow. The
existing rates compare favorably in cheap
ness and uniformity With any that have
prevailed on the road at any period, and
with those which now prevail on any we'll
managed line in the South.


A REVIEW.


A review of the last three years shows q
steady increase Of the business Of the COM
pany through each successive year, and
this Notwithstanding the seasons have con-
tinued most unfavorable for the production
of all the crops that largely make up the
tonnage, except only tobacco this alone
has yielded something like its ordinary
volume of business. The wheat tonnage
has materially increased during the past
year of which, however, large part has
been drawn from Southwest Virginia and
Tennessee-out Of which this road receives
only short and cheap transportation The
indications are, that with ordinary seasons,
the wheat tonnage of the line will be
heavily and permanently increased. Du-
ring the past fall much larger surface has
been seeded in the country tributary to
this road, and more attention bestowed on
the character of the seed and other circum-
stances which give promise Of the usual
profitable yield. From the enlarged dis
| trict Of country now drained by the line,
extended IS it is for fifty miles in the State
of North Carolina, the wheat transported
over this road to the city of Richmond
should not be less than 1000 bushels in
a season Of ordinary fruitfulness of this
| important cereal. In 1867 the entire wheat
transportation was 53,338 bushels, and du-
ring the past year, 1878 bushels. 1t is
| hoped that this amount will be more than
doubled in the business of the ensuing
year.


The Piedmont road is continued to be
operated under lease to this company, on
the same terms and in the same manner as
heretofore reported to and approved by the
stockholders. No reason exists for the in
terruption or modification Of this arrange
ment, and its continuance is therefore re-
commended. The business derived to the
company through the connections of the
Piedmont road has not as yet approximated
the proportions and value which must ulti-
mately be realized from it. The causes
which have retarded it are being constantly
removed, and, as far as practicable, through
the cooperation of this Board. Success in de-
yeloping these connections is of paramount
Importance to your interests in the future.


In respect of local and wayside business,
there IS every reason to expect that the
supporting country will continue to afford
an increase of contributions in ratio
greatly accelerated over that of the last two
years. Industry of almost every kind is
getting into better organized and more sue
cessful operation. Population and capital
from adjacent and foreign States have
commenced their long-desired advent and
settlement among u.s. and as the cloud of
disordered politics passes away, the light
of renewed confidence, free circulation of
capital, and hopeful, energetic enterprise
reappears, with its invariable sequel Of
general prosperity and content.


Within few weeks past the Richmond
and York River Company have resumed
active work in replacing their track be-
tween the White House and West Point,
with every prospect of ability to continue
it to completion up to West Point within a
reasonably short period. With this pros
pect, the mutual interests of both compa-
nies require that track connecting their
respective dep0ts shall be built. Under
authority heretofore conferred by the stock
holders, the Board Of this company have
agreed to construct such connecting track,
with view to continuous transportation
over the two roads, both being now Of cor
responding gauge. Preliminary surveys
have been made, and it is deemed the inte-
rest Of this as well as of the York River Com
pany, that this work shall be commenced
at once.


In respect of foreign or through business,
your line is entitled by position to q still
more rapid growth. To develope it in its
natural and Legitimate proportions no prac-
ticable effort has been spared during the
last three years. Much has been accom-.
plished towards ultimate success, but much
yet remains to be done. The magnitude Of
the interests at stake should allow no re-
mission of effort. The recent opening oi
the Columbia and Augusta road from
Columbia, S. c., to Graniteville, point on
the South Carolina road twelve miles east
of Augusta, has already given you the
short line by about seventy miles between
Southern and Central Georgia and adjacent
localities, and Richmond and the northern
cities. When so organized as to give this
line fair competition for the travel, this
J Improvement must afford valuable acces-
sion to your business.


: But still more important development
to us is the airline road between Atlanta
!: Ga, and Charlotte, N. G.. This work is
rapidly assuming in the public regard its
just proportions Of a great Interstate en-,
terprise of immense value and Importance
to great and vital interests, both local anG
general. These most reasonably look to itG
construction with increasing interest al
destined to afford with its connections-o
which your line is leading part-t
channel of communication unrivalled il
directness, grades, and climate one
by which not only are the trade relations
of the great commercial centres of thu
North with the interior and remote South
to be placed under new and most benefcia
. forms, but also great interior develop
ment to be effected, and grand trunk tho
roughfare organized for six hundred miles
through the heart of the Piedmont Atlantic
slopes-a country the most desirable for rea
sonable thrift and social happiness that th'
white man has yet found on this continent
This important work, it is expected, vii
soon be in active progress, and in such re
lations to this company as to secure forever
. your impartial access to the immens
business it is destined at some time in tn
future to contribute to its eastward con
nections.


In conclusion, the Board think the period
Of poverty and extreme peril to your corpo
rate interests has passed, and the dawn Of {
permanent and increased prosperity arisen
| They have labored diligently to hasten it
!; advent, and expect to rejoice with you il
its noontide benefcence.


They testify with satisfaction to the con
tinued efficiency and good conduct of tn