Richmond and Danville Railroad Company.
--The stockholders of this company held their annual meeting yesterday, at Metropolitan Hall, in this city--Mr. Barksdale
, of Halifax
The annual report of the President
of the company, Lewis E. Harvie
, (a synopsis of which we append) was read, after which the meeting adjourned until 7 P. M.
The entire income of the road for the year ending Sept. 30th, 1861, amounted to $447, 959.93, of which the sum of $398,268.36 was received from the ordinary earnings of the road, and $49,190.57 for transportation and travel on account of the State of Virginia
and the Confederate States
This exhibits a decrease of $113,444.50 on the receipts of the previous year.
The falling off is attributed to the condition of the country, growing out of the war and the blockade of our ports, which has left but little to transport, the bulk of the crops having been withheld from market owing to the low price of produce; and to the low rates of travel and transportation on account of the Government
The nett earnings of the road for the year ending the 30th September, 1861, amounts to $207,582.68, being 46.40 per cent, of the gross receipts, and the working expenses, $239,867.25, making 53.60 per cent of the gross receipts.
The variation in the nett earnings of the road for the two past years is due, in a great degree, to the fact that one-tenth of the entire work of the past fiscal year, was performed at half the usual rates of charge on account of the Government
in the prosecution of the war. At the usual rates of charge on the same transportation and travel, the nett earnings would have been a higher per cent.
on the business of the road than the previous year.
Moreover, large items of expenditure, heretofore credited to construction account, have in this year's report been placed to account of running expenses.
The entire floating debt of the Company
has been discharged, and at the close of the fiscal year the funds in hand amounted to $41,774.46, Since the 1st day of October, this amount has been increased, by the earnings of the road, in October and November, making a total on the 1st December of about $75,782.51.
The report gives a favorable view of the condition of the road, buildings, and rolling stock.
Most of the road is now provided with heavy rail.
Many of the cars have transported cannon to New Orleans, Mobile Savannah
, and Columbus
‘"If some inconvenience has been experienced by the stockholders on the line of the road by the unusual press of business, in the prompt transportation of their products, they must be gratified to learn that the benefits were received by the forces in the field"’
An allusion is made to the tender of all the operations and machinery in the workshops to the State
and Confederate Governments, for the manufacture of gun-carriages and other implements connected with that arm of service; and at no profit; and without detriment to the interests of the Company
, they have completed thirty-five gun-carriages and other valuable work.
It is a matter of great regret (says the report) that the condition of the country, and the consequent derangement of financial affairs, have for the present arrested the completion of the Roanoke Valley
Extension, which was in process of construction, and also have postponed for the present the Western Extension
of the Richmond and Danville Railroad.
It is confidently believed that with the restoration of peace, both of these valuable enterprises will be prosecuted to completion.
In conclusion, the report commends to the attention of the stockholders the subject of a connection of the Richmond and Danville Railroad with the North Carolina Railroad, adverted to in the recent message of President Davis
The stockholders re-assembled last night, and continued in session to a late hour.