Proceedings of the ... annual meeting of the stockholders of the North Carolina Rail Road Company |
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Library OF THE University of NortH Carolina This book was presented by Members of the family of the late COL. A. B. ANDREWS Jlmij^''- UNIVERSITY OF N.C. AT CHAPEL HILL 00032740589 This bookmust not be taken from the Library building. .#^ PROCEEDINGS \ 4 FIFTEENTH ANNl^L MEETING OF THE ^t0Jffelt0hUt!3i NORTH CAROLIM RAIL ROAD COMPANl HELD AT RALEIGH, Thursday, July 14, 1864. a -n RALEIGH: PBIKTED At THE INSTITUTION POB THE DEAF AND DUMB AND THE BLIND. \ 1864. ^! fpP » *^* i*^j:'!!' «>KSil>5%i*S!Stt*ft^->-- ^—»^-. -^-..-w'l PROCEEDINGS. Raleigh, N. C, July 14, 1864. The Fifteenth Annual Meeting o£ the Stockholders of tlie North Carolina Rail Road Company assembled, this day, in the Commons Hall, at 11 o'clock, A. M. On motion of Gov. Morehead, D. M. Barringer was called to the Chair. On motion of Wm. Murdock, F. A. Stagg and Edward R, Stanly were appointed Secretaries. ^ I The committee appointed, at the last meeting, to verify \ proxies, reported through their chairman, George W. I Mordecai, Esq., that 2,165 shares of stock were repre- I sented in person, and 4,308 shares by proxies, and that ; more than 1 00 stockholders were represented in person or by proxy. The meeting, therefore, was declared duly I organized and ready for business. I Ralph GorrelJ,' Esq., presented his credentials from the > Governor, authorizing him to act as State proxy for the \ ensuing year. \ On motion the several reports from the board of di- ;: rectore, the committee on the sinking fund, the finance i committee and the committee of examination were read, I received, and ordered to be printed with the proceedings. • On motion of R. S. Tucker, the meeting proceeded to ^ elect four directors for the ensuing year. \ On motion of the same, Geo. W. Mordecai and D. A. \ Davis were appointed to superintend the election. I The vote ha^-ing been taken, the committee reported \ the whole number of votes cast 6,220, necessary to a \ choice 3,111 votes. Thomas Webb received r5,950; { Giles Mebane, 5,-336 ; John L. Morehead, 5,380 ; P. C. [41 Cameron, 6,065 ; scattering, 2,149. The above gentle-men were declared duly elected for the ensuing year. The following resolution was offered by Archibald Carter. Ordered, That the directors of this company be di-rected to abrogate and rescind all contracts, that they have made with the,Southern Express Company for the carrying freight and other matter and things, and that they correspond with the authorities of the railroads from Richmond to Columbia, and make some joint ar-rangement for performing all the duties now performed by the said Southern Express Company, and if they can not make any fair contract or arrangement with said ''^companies, that the directors be directed to have all freight and other matter transported under the control of the officers of their own road. The following was. offered by Kemp P. Battle, Esq., as a substitute to Mr. Carter's resolution, which was ac-cepted by Mr. Carter, and upon the vote, bein^ taken was carried. Resolved, That the president and directors of this company be instructed to correspond with all the con-necting rail road companies in tho Confederacy, with a view to organize a rail road express company, to be com-posed of rail road compa»nies. By Thomas Webb ; Resolved, That the directors of this company be re-quested to institute a local express on this road, and that the Southern Express Company be forbidden to carry any article over this road, unless it comes from anotner road, or is to go to some other road. Passed. • By Ralph Gorrell : Resolved, That the compensation allowed the commit-tee of finance and the directors of the North Carolina Railroad, be increased to thirty dollars for each day, in which that shall be engaged in the service of the com-pany, and that compensation shall have a retrospective operation so far as the committee of finance is concerned ^or twelve months. [5] On motion of R. S, Tucker, the meeting adjourned until five o'clock, P. M. AFTERNOON SESSION. The meeting was called to order and the resolution of Mr. Gorrell taken u[.. Dr. IJolt moved to amend Mr. Gorrell's resolution, by striking out increased compensation to directors, which was lost. George .W.Mordecai, Esq., then moved to amend so as to include the examining committee, and Mr. Gori-ell's resolution as thus amended was passed. By George W. Mordecai : Resolved, That the salary of the presidenic of the North Carolina Rail Road Company be fixed at six thousand dollars per annum, and that of the treasurer at five thou-sand dollars, commencing June, 1863, and that the se-cretary be allowed four thousand dollars, connnenciog April, 1S64, and that the same salaries be continued un-til further order of the stockholders. Passed. By Dr. Holt : Resolved, That the name Company's Shops be retained as the name of the Work Shops, and appendages of the North Carolina Railroad. Passed. By Ralph Gorrell : Resolved, That the president and directors of this road be requested hereafter in their annual leport to the stockholders, to set forth the names of all officers and employees m the employment of this company, with an-nual salaiy attached to each. Passed. By Wm. Murdock: Resolved, That the president and directors of this company be authorized to subscribe to the capital stock of the Chatham Rail Road Company a sum not exceed-ing two hundred thousand dollars. Passed. By Kemp P. Battle : Resolved, That a committee of three be appointed to correspond with the various railroads on the subject of \ ^ ] procuring a charter of a "Railway Importing and Ex-porting Company," and to memoralize the next General Assembly on the subject. Passed. The following gentlemen were appointed committee: Thomas Webb, John M. Morehead and P. C. Cameron. On motion of Dr. Pride Jones, the resolution of Thos. Webb, respc^.tiug the, express company was r(?scinded, and the following oftered by Thomas Webb, passed in its place. Resolved, That the president and directors of this com-pany be requested to institute and establish as soon as practicable a local express upon the North Carolina Railroad. On motion of G. W. Mordecai, Esq., the same commit-tee of finance and examining committee were appointed for the ensuing year. On motion of Mr. Thos. Webb, the following gentle-men were appointed a committee to verify proxies the ensuing year: D. A. Davis, A. Myers, J. I. Shaver and Wm. Murphy. By George W. Mordecai: Resolved, That the finance committee be instructed to examine into the general accounts and books of the com-pany as well as those of the treasurer, and see that they are properly kept and report to the annual meeting of the stockholders. Passed. On motion the thanks of the meeting were tendered to the president and secretaries. On motion the meeting adjourned sine die. D, M. BARRINGER, Chmrman. F. A. Stagg, > o , • E. R. Stanlx. ) Note.—The following gentlemen were appointed by the Governor directors on the part of the State for the ensuing year: W. C. Means, of Cabarrus ; D. A. Da^is, bf Rowan; Cvi'us P. Mendenhall, of Guilford; John I n j Everett, of Wayne; John D. Flanner, of Craven ; RufuS I S. Tucker, of Wake ; C. W. D. Hutchings, of Wake, 1 and John Berry, of Orange. ' \ The sixteenth annual meeting will be held in Salis- ; bury, the second Thursday in July, 1865. I BOARD OF DIRECTORS' REPORT. Office of the North Carolina R. R. Co., ) Comjyany iShops, July 6th, 1S64. ) In accordance with the requirements of the Charter, the Board of Directors have the honor to submit the fol-lowing report, showing the operations of the Road for the fiscal year ending 31st May, 1864. The President's Report shows the operations of the the Road in full ; that of the Chairman of the Sinking Fund gives full information in regard to that important branch of our Finances. Elaborate tables have been made up with great care to show the operations of the Road in detail. A Dividend No. 7, of 15 per cent., has been declared, the time of payment will be announced by the President and due notice given to the Stockholders through the public press. ^^^^^^i^^^^i^^wS^^^^^^^^^i^^^ 9] PRESIDENT'S REPORT. Pkesident's Office N. C. R. R. Co., ) Company Skops^ July 6th, 1864. 5 To the Board of Directors: Gektlemin : I submit to you the Fifteenth Annual Report of the operationa of the Road for the jear end-ing 3l8t May, 1864. earnings from all sources. From Passengers, other than Troops, $851,483 40 From Government Pas-sengers, 695,709 27 Prom Freight—Private, $609,316 35 From Freight—Govern-ment, 743,680 91 From Freight—Southern Express Ompany, 292,175 75 $1,547,192 67 From Interest, $6,741 08 From Maik, $96,375 00 Prom Shops, $19,641 62 Prom Rent, 8,166 16 $1,645,073 01 $33,116 08 $21,697 78 Total earnings, $8,247,079 54 [10] Transportation, Maintenance of Road, Maintenance of Cars and • Machinery, Tax, Interest and Premium on Bonds, EXPENSES. $293,554 34 108,558 76 35,171 86 33,747 09 Rent of Cars and Engines, 109,980 50 Hand Hire. Loss and Damage, Salary, Supply Account, Purchase of Engines, 181,698 89 , 115,617 07„ 49,546 99 462,286 82 46,000 00 \,-y Nett Earnings, Compared with last year — G-ross Earnings—31st May, 1864, «' c; u « 1863, Excess this year, ' r.vJ,80.; . Nett earnings this year, " " last " Excess nett earnings, - $1,637,658 01 $1,609,421 53 $3,247,079 54 1,649,935 26 $1,597,144 _28 $1,609,421 53 '"to**!*^- $590,678 37 FiNAifCiAL. :3^sialm<n% The Treasurer's statement sets forth particularly all disbursements made during the year and includes not only payments for actual working expenses, but also large amounts for purchase of cotton, coupons, real estate and dividends. . In consequence of the Act of Congress regulating the currency passed in February last, under, your instructions [11 ] I invested all the money, we had on hand on the Ist of April, in bonds and stocks; and the item of cash in hand on the l8t of June, Treasurer's account, amount $713/' OOG 01 includes— d :ui' iiX9'jfi«Iiid ]fi 7.30'8C.S. Bonds at average premium of $1.10, $177,300'-' 7 and 8 per cent. Coupon C. S. Bonds average '*^ premium of $1.12, 58,500^' 4 per cent. Certificates, 1 atboiuqeiq aifi 270,500 • .Tptal ampunt of Bonds and Certificates, $506,300 On the 22d of March the Board directed that the Com-n. pany should pay the Confederate Tax on Individual Stock, and that three times the amount of that tax should be paid to the Treasurer of the State in four per cent.-, < Bonds of the Confederate States. Under that resolu- ^ tion, $100,000 has been paid to the Treasurer since 1st • June. Though we have been ready at all times to pay the tax, and have urged upon the Collector to receive the same, yet he has not collected it, as he has received no instructions. I had hoped also to avail ourselves of that opportunity to dispose of a considerable amount of five dollar bills which we had received at par, and which now will be subjected to a discount of one-third. This derangement of the currency has operated seri-ously against us. The Confederate Government owes us a very large sum foi' transportation, amounting to over $650 000. Yet since the 1st of April we have only re^ ceiyed from that source $150,000, and in our repeated applications for money we have been answered that there was no money on hand. When it is considered that our monthly expenditures are now about $200,000, and 'that our duty to the Go-vernment requires us to give thorn almost the exclusive use of the road, thus depriving us of our ordinary revenue from private freights and passengers, it is not a matter of astonishment that we have hot been able to pay our ordi-nary expenses without recourse to loans, which have \ been made on two occasions. And although we have an j apparent large balance in the hands of the Treasurer, yet \ consisting of bonds, we cannot make them available at I present for payment of debts. We hope, however, every f day to hear from the accounting officers of the Govern- I ment that they are prepared to liquidate our accounts. 5 Two Dividends have been declared during the year i one on the 15th of July of ten per cent., the other 1st of | February of six per cent. \ Agreeably to the resolution of the stockholders at ^ their last annual meeting, we have purchased eight hun- ^ dred and sixty-five bales of cotton, weighing three hun- \ dred and sixty-five thousand eight hundred and forty-four I pounds, at an average cost of fifty-four cents. ^ This cotton is now stored, and well secured under good shelter. | TRANSPORTATION. \ The number of passengers other than soldiers ', carried over the road has been 228,522 I Number of soldiers and government agents^ 166,172 Whole number of passengers carried, 394,694 Compared with last year — I Number of passengers other than soldiers, 210,987 i »« " soldiers and government agents, 102,526 j Whole number last year, 313,513 j Excess tills year) 81,181 \ And we can proudly say, that under the blessing of \ God, not one of this vast multitude has been in the slight- j est degree injured by any fault or carelessness of any of | the servants of this Company. Three soldiers have lost I their lives in attempting to jump on the train while it i was in motion. \ [ 13 1 Earnings from private freights have been — Amount carried East, $245,944 69 •' West, 363,371 66 $609,316 35 Government Freight, 743,580 91 Southern Express Company, 292,175 75 . $1,645,073 01 Total amount freijit earnings last year, 634,422 46 Excess this year, $1,0 10,650 55 It is needless for me to say that the road has been veorked to its utmost capacity with our present means ; for by a careful examination of the statements above set forth, and the fact that w^e have had no more engines and but few more cars than in the preceding year, it will be at once perceived that your employees have worked faithfully, and are entitled to the commendation of their superior officers. Our locomotives are in much better order than they were at the commencement of the war. One has been . entirely rebuilt, and with pride and pleasure we can point to the "Governor Morehead," and defy any road in the South or elsewhere, to show an engine that will surpass her in its appearance or performances. During the year most of the engines have been thor-oughly overhauled and repaired, nearly all of them have been refitted with new tyres of our own construction, and our experience* satisfies us that the chilled tyres of "Company Shops" are fully equal, if not superior, to the "Low Moor." We hav6 not built any coaches during the year : suita-ble material for their construction cannot be obtained. We are deficient in this part of our equipment, and many on the road require renovation. Two have been thor- [U] oughly repaired and refitted. We have built twelve new box cars and four new flats. We have purchased fourteen new box cars and as rapidly as possible intend building others. But we find great difficulty in procuring raa- ; terial absolutely necessary, and when obtained it is at very great cost. Before the war we could build a good box car for four hundred and fifty dollars, now it costs ; about eight thousand dollars. ROAD. ^ ! '. The road is now in admirable condition with the ex- I jception of bad rails. I say without hesitation that the ; :road bed itself is in better condition than it ever was. [ It is Vk'ell ditched and much of it, especially bad cuts, hiis been well gravelled. We have kept two trains constantly at work, and some fifteen or twenty miles have been ballasted during the year; and this work is to be carried on until the \ \yhole road bed is covered. Its beneficial effects have '. been manifested. But few cars have been run oft' during i th^ 'year, and not a single engine has been off* the track. I Much work has been done to the bridges ; several of them / have been thoroughly repaired, and a large force is kept ^ constantly on that work. ' """ _* \ BUILDINGS AT SHOPS. I During the year we have erected seven dwellings for I our employees at this place, and four good log-houses for \ negroes. Many more are needed, and will be erected i; when we can conveniently do so. The comfort of the I men and their families has been greatly increased. ; We still need those two great pioneers of civilization \ —school-houses and churches. Much complaint exists I among those w^ho are compelled to live here, that their I children are growing up in ignorance and sin. I know \ not what course to recommend; but certainly something ; f 15 ] ought to be done to take away this reproach from us. , '. Here is a population of three hundred ptMsons, who live in a Christian land, and yet they never hear a prayer nor a sermon, and that not from any fault of theirs. The round house for the protection of your engines has not been built. However the brick has been made, and we hope before the next winter that a sufficient portion of it will be completed. The passenger shed at Raleigh has not been built, sim-ply because we could not obtain the lumber. A plan for a joint shed with the Gaston road has been agreed upon, and a large portion of the luinber cut at our own mill; but the demands of the government for lumber to build warehouses and hospitals has been so great that we have not been able to obtain what we need. It is hoped, however, that we will have it completed before the ensuing winter. WOOD AND WATEli. The })olicy adopted last year in purchasing land fo^ procuring wood and cross ties has been proved to be a wise on3. All the wood used between the Shops and Raleigh, and much- on other portions of the road, has been procured off your own land. We are now using about twice as much wood as at any former period—the con-sumption is enormous. I am sorry to say that we haVe but a tolerable supply; and if the government takes from us all the men liable to military duty, who are now engaged in getting wood and ties, the road will .be seri-ously crippled, if our trains are not compelled to stop. Our supply of water on the Eastern Division is abun-dant. Owing to increased transportation in the Western Division we have often been delayed for the want of wa-ter. Arrangements have been made to obviate the diffi-culty ; and new tanks have been erected six miles Lifi] from Charlotte, and at McLean's. One is also ready to put up at Yadkin River, into which the water will be conducted through pipes. We have also increased our supply at Concord, using a Hydraulic Ram. LOSS AND DAMAGE. This item of" expenditure for the year appears and is very great. Fire, theft, and water, have been our great enemies. And as we have to pay market price for every thing lost or destroyed, a few articles amount to a large sum. The government formerly charged us with actual cost, but now it makes us pay market price. Fire has been the cause of our principal losses. Many articles have been damaged by rain through leaky cars, especially tobacco. The loss from theft is great ; but it will now be much less as we have our cars in pretty good repair, having locks for the doors, and also hold the Con-ductors responsible when there is any reason for it. But manage it how you will, this will always be one very considerable item of your expense. PIEDMONT RAIL ROAD. Since the completion of this work in May, and for some weeks previous, a targe proportion of government freights have been carried to Greensboro' only. A large proportion of the travel also takes that route. So far as freights are concerned, we will lose nothing, as we can make two trips to Grreensboro' from Charlotte while we are making one to Raleigh. Yet our passenger trains run the whole length of the road, and as passengers teke the nearest route we will loose some revenue from them. I think the connection an advantageous one for our inter-est, whilst its benefits to the Confederacy are incalcula-ble. At this time the enemy having possession of the Petersburg Railroad, our line is the only one that cao carry those vast quantities of stores requisite to the BXtp- I 17] port of that noble array who are so successfully battling for our very existence. CONCLVSION. Permit me to congratulate you upon the success of your road. We are now returning to the State and the stockholders regular semi-annual dividends of handsome amounts. Your road and its equipment is in good or-de?— inferior to none in the Confederacy. But it is not only in a pecuniary vi€w that renders it valuable to you. Its importance to our country cannot be calculated. Being one of the main arteries by which the army is sus-tained, our destruction would be its destruction, and that gallant band of heroes, who now in Virginia are stemming the angry tide of battle and keeping from our immediate homes the desolations of war, would be forced into our midst, and the time of our redemption would be prolonged. Respectfully submitted, THOMAS WEBB. [ 18] / ' i.ooi/a ^rf^ .^INKING FUiYD. REPORT' OF THE COMMITTEE ON THE SINK-ING FtfND, TO THE BOARD OF DIRECTORS OF THE NORTH CAROLINA RAIL ROAD CO^^#fl^,,, i.UiO'f/ By reference to the Report of the Committee of last 1 year, made to the Board of Directors, and through the | Board to the Stockholders at the annual meeting at I Greensboro', July, 1863, it will be seen that the sink- ! ing fund at that time amounted to $213,768 50, and \ that amount was then turned over by the Committee of that year through its Chairman, Ralph Grorrell, Esq., to ^ C. P. Mendenhall, Chairman of your present Commit-tee. The past year has been one of very great difficulty in managing trust fund and individual investment, and owing to the great fluctuations in the value of Confede-rate securities, your Committee have deemed it prudent to avoid as far as possible investing the increase of this fund in Confederate bonds. It will be seen by the state-ments in this report that while the amount of the fund has been largely increased, the investment has been in North Carolina bonds, except the amount paid over by the President of the road to your Committee, under the act of the Assembly and Orders of the Board, requiring an appropriation of twenty-five thousand dollars out of the earnings of the road annually for this purpose. This payment was made in eight Confederate bonds, which [19] was the best form of payment the Road had the power to make. The sinking fund now consists of the following secur-ities: j "^O ^.. .J -J do XJIO^VIU 58 North Car. old 6 per cent Bonds of $1,000 a $58,000 30 [20] ot 9f{.-f "io a; a fai:i;!l REPORT OF COMMITTEE OF INSPECTION. To the Stockholders of the North Carolina Rail Road Company: Gentlemen: Your committee of examination have endeavored to discharge the duty assigned them, and beg leave to submit the following report as the result of their observations : ^ CULVERTS AND BRIDGE MASONRY. Two of the culverts, near Raleigh, have given way during the past year, proving but too conclusively the correctness of a previous report. The culverts, west of the tirst division {terminating six miles west of Raleigh,) generally answer well the purpose for which they were erected. Your bridge masonry remains very inuch as it was two years ago ; ami although, as then intimated, some slight repairs at a few points, would be beneficial, yet it is all ssd'e and substantial. BRIDGE SUPERSTRUCTURE. Yadkin bridge, the most important on your line, has b«'en thoroughly o'^Uauled and repaired; a new roof has been put on, and new stringers and stringer plank put under track. Walnut ceek, Back creek. Haw river, East Buiiiilo, Leonard's creek. North Potts', Irish Buf-tiiio Caudle creek, and Rucky river bridges have all been uv. I. led, and -it'e aow in good condition, with the ex- 1 tiiat some 'of them require new stringer plank Mvk N; use fiver, Jimmie's creek, Rich Fork, ill in good order, with the excep- Crabtj -. Stony creek, Upper and [21] Lower Eno require new roofs, and new stringers under track, otherwise in good condition. Abbott's creek bridge has two defective floor beams, otherwise in good order. Little river bridge requires new wall plates at one end; West Buffalo is now being overhauled. ROAD BED AND TRACK. Notwithstanding the increased number of heavy trains passing over your road, the road bed and track are gene-rally in better condition than hitherto, showing conclu-sively the favorable effects of several causes; namely, the previous years increase of section masters and hands, the reduction in speed of trains, and the remarkably fa-vorable weather of last winter. More ballasting has been done, and the ditching is generally in better condi-tion than heretofore. The alignment of track and cross section of same are generally good ; with the exception of the iron, some of which has become laminated and requires renewal, the track is in good condition. Complaints have been made to your committee, re-specting the bad condition of some cattle guards and the impassable condition of a public road bridge over the railroad near Lexington ; we, therefore, recommend im-mediate attention to this matter and the avoidance in future of any thing causing discontent and irritation, when it can be remedied by a prompt compliance with a duty that milst be performed. WARE-HOUSES. Some of your ware-houses have been repaired, and the drainage improved. More repairs, and better drainage are necessary at some points. The joint ware-house, at Charlotte, has been divided ; and its good effects seen in the neatly, improved appearance of the interior, and we doubt not, felt by the company in the diminution of lost goods. More room is needed, at this point, • [ 22 ] for the accommodation of freight. In the vicinity of this station there is much cotton lying scattered in a very bad condiiion ; said cotton is not only v^asted, but made a nuisance and subjects your property at that point to great danger from fire. If it has been brought there for shipment over the road, it ought to be given as quick transportation as possible, and if not brought for that purpose, it ought not to be allowed to be put so near your depot. At Greensboro' a nev^ joint v^are-house will be necessary as soon as the Piedmont railroad makes a proper connection with yours. We are grati-fied to find that the loss sustained by you on account of lost or stolen goods, is very much diminished; audit also aflords us much pleasure in being able to state, that theie is a marked improvement made generally by your agents at ware-rhouses in the arrangement of freight and the neat, clea;nly manner in which the interior is kept. There is still room for improvement at several, especially around the builaings. At Mitchenor's or Sinithfield sta-tion every thing within and without shows order and cleanliness, while at Durham's depot things otit-doors are, apparently, under negligent treatment. PASSENGER ACCOMMODATION AT STATIONS. At Salisbury the passenger trains now pass through the joint passenger shed, adding much to the comfort as well as convenience of the traveling public. As stated in a previous report many passengers are compelled to lie over here, awaiting the trains; more room is necessary for their accommodation ; a small expense would make tli'e empty wood station answer the purpose. At Hills-boro', Charlotte, Goldsboro', and Raleigh, things remain very much as they were last year, except that the drain-age, at the last named place, has been improved. From the completion of the Piedmont road, the passenger ac- [23 1 commodation at Raleigh will not require to be made so extensive, while a joint passenger shed will be very much needed at Greensboro'. WOOD A N D W A T K R . The gnpply of wood 'appears short betwixt Raleigh and the Shops. The supply of water has been increased, and several new tanks have been erected, and others are now building. ENGINES AND CARS. Your engines are well kept up, and are generally able to do efficient service, except some that are now being overhauled. Since your last meeting one engine has been entirely built, and named the Gov. Morehead; an-other is now being re-built. The work done on these eno-ines is both neat and substantial, and reflects much credit on your master machinist, Mr. James Anderson, J and the machinists under hhn. While both freight and passenger cars have received extensive repairs, and some new ones have been built, we think that they are still insufficient for the business of the road, and the passenger cars seem to be propor-tionally in worse order, more especially a-s regards clean-liness, than any other department on the road. WORK SHOPS. Much has been said in previous reports respecting the vast importance of this department to the successful working of your road ; all of which has been fully verir fied. Without this establishment, your trains would soon stand still. It cannot, therefore, be watched with too much vigilance or its interests nursed with too much care. At your last annual meeting, you authorized the build-ing of a round house for stabling the engines, and more quarters, for the accommpdation of hands; not only has [24] this resolution failed to appear in the published proceed-ings of your meeting, but the round house has failed to be erected ; the reason of the former we do not know, but the difficulty of obtaining material has been the cause of the latter. Some additional quarters have been built. The ability shown in the foundry, the mechanism dis-played in carpenter department, the skill manifested in the machine shop, and the art exhibited by the painter, together with the order and energy with which the whole is directed, satisfy your committee, that, if properly sup-plied, this department can furnish the road with every thing it requires, from a broom-handle to a first-class engine. Before closing our report, we cannot refrai* from ex-pressing our gratification at the present general good condition of your road, with its appurtenances, and the harmony that seems to prevail amongst your officers and employees. In these times of trial, when supplies of every kind are so difficult to be procured, it must be gratifying to every stockholders, that, when thrown upon I its own resources, your road has been enabled to sustain I itself so well, and render such a vast amount of services I to our bleeding country. \ Hoping that your rpad may continue to improve, and I that your officers and directors may be enabled, to render I increased accommodation to our government, as also to I our citizens generally, I We remain respectfully, \ Your obedient servants, \ WM. MURDOCH, I JOHN M. MOREHEAD, )> Com. WILLIAM R. HOLT. AD,V ^ ) COQO; lO -^ to C5 «0 t~ : lo GO t^ o I- o ; t- O O T lO •'T ( ,-1 ^ ^riGi'^Oi O »^ 0< : cfo ; X X- ) 00 -"T CO «D CTrf < > O t-- lO -* O -^ 1 05 ><< ;0 —I -1< at—r t^ -rf oi m 'X ^ — lO to t~ to t- to 17! X' -* -* i~ a> CO r-i to 00 o ! X CO l^ Tf t~ t _ _ o -:r O iO X >0 'J" (M -, ^ ^ C-J O! -N C« C^ 0< "a* CO «• O X -f .-: to-* x'qo 'i I C^ C5 O C^ CTl : • r- r- t~ i— c- 1 C! c^^ CT c) a a-i a ox c( (?< a cm 1- in "# t^ c c^ o -* CO X c% ~! totoos-ii^x^r^iootoio to CO to o^» 'a- o O! c-i^x t^r-;, 00 —^-^ to X —r to "3^ cT -3^ cT-H t^xr-, xco-Or-—i-Hoc;-^ r-. -H -H — rt Cl —I C^ ^5: I (TJ X CT - X to uO X to <-- 05 CO I O t^ to t- C) O :^ CO X X C5 -^ t — COt--XX-»"tOlO-3'OX'rj I w3~tO-^t^XCOS5C5^TO"3' I ^c^O-=rOrT-3<XtotOa5-H r? X trf-n-'t-^oc-rsTrx CO frfto c^t^i/jLOX—'C^couo-*-rrt~- rt rt „ ^ 5.J _^ „ t-c-iOCiCJ-TSO^J-coto^j" |cr;i~ CO X lO CM O — t- '^! 'T! to -O o CO X I CM — I ! 1 C! .n LO C~. T -TP CO — X CO X ' to X I LO oxot^totoot^r^ooci 1—irH ico c?jcoxoOJtO'3'-3'C3co-H-_:. lott 'o I C7! G-! -H ~) CM —, -T! T! -^ '.-( Tf ^ | c: icXoXcXoc0o5t0^tC^5tC^5t^0fC~2i~c-niC^i5^Cr5^ lo I CO (^?c^c^^ci(^J"c^f (N cFc^f c^J'(^{"(^^ I to (M O ; t... ^ ^, CO o -^ CM •r^ o r> -^ I- -to •»ftOl— t~tO'^C0-^J('-i-VO .T Ot-XX'9<OOtDOCOCO-* 'o' lO CO CO CO c>j cr> •—I X ;r( c?) —' t^ ' 3*! _; tOO-rl002(7?COuOCOOtOtO T}<r- •^O 3> —< -H c« o o -* o -^x (>JCO!M-^-^'*CO'3<OXC3'-' CO aj coi-0 0"*r~c^to-T-3"'?tcoto X-^t:~tO>-^l^TtO;^L.OCOO X!>J—(Xt^OtOXCOl^CNtO i-o to CO CO -T i^ rt X "-0 -* ^j- f?} 'S' CT! CO CO —< — X_tO -a^-H CO X in to -a^(M (>rTr o: -^'Tl'crro cT mcrjt-t^—ixx r^c^i^t^oo i< ^3 [26] TREASURER'S P. B. RUFFIN, TREASURER, IN ACCOUNT CURRENT WITH THE NORTH To Cash on hand, June 1, 1863, " " received on Transportation Account, " . '• *« Rent «« Shop " " " Sale Tan Bark «' «« «« Supply " " " Loss and Damage ** " " Interest «« " " Bills Payable i 4C5,3C7 2,457,592 1,967 3,866 1,950 35,649 809 6,032 50,000 69 13,023,234 To balance on hand, June 1, 1864, This balance consists of 7 and 8 per cent. ConfederateStates Bonds, $ 58,500 7.30 Confederate Notes, 177,300 4 per cent. Confederate Certificates, 270,500 Cash, 206.706 01 J 713,006 01 $ 713,006 01 [n] STATEMENT, CAROLINA RAIL ROAD CO. FOR THE FISCAL YEAR ENDING MAY 8J, 1864. By Cash paid [ 28 •ui.ispicqot'jj "Vf SITJO T 'X •pooAiJO^ ssm-uf . e-j * lO CO -<_« ' -I i^ r-J r-T^—' C-f ^' O cf C^ Oi c C-. c. t^ tc •nos^j8qo'5j "Q "g HV^ -C! -rj CS "O C^ lO — 35 i-- r-J J~ •jmSTSJcIg -Q -^ •s<Jinqd '0 r •eipniAV -J 'W OO^HJ>--^OCO*OOCDC^O'CO rH«>Tj(t-00rHCDiOe^COt-^e<5 •Aioism^Vl 'a '£ o 29 ] [30] (S3 C5 o PS CO Pi M C5 P4 1^ 5^ ^"O 5 - 'O I- 5 cS C 5 P^O O - Pt3 60 t: •;;; t. =J . hi tc : >. o ^5- - ISO >3ozfa o c3 PqO 2gP3 I C'OCO'OC-OOOOOOOOOOOOOOCiOOOOO O lO = CO 0OOG3C3OOI0OOOOOOO rl Cq -1 OS •h" -^ m' ri M »-H eq i-I -T t-i"a;'~i-reo"pre^''i-ri-r e^es~-*" ^-Tr-TM* O^OOOOOOO^'OC'CSOOOO oO'-ccnawiMcciSioci . eD -* eo «0 !» cc o© to ^^^^ t—ttococo^=ccc^co«ocxco«o < i t^ T-1 U-J 1 I OS es cq I CO t~ W I O t-i < f-t 00 H &4 [ 31 1 o 32 \n —' ~ •>) v> CO --^ <Tt ^'> f~ c^ t> t~ <�� ^ ^ C'f ^ • ao ' — 9* c^ CO -*-» I l^ Ci ^ ^ O -' t^ . - .-^ ^-^ ,1 f^ t-^ c^ -^ I - -^ 1 - TT -:> ?o i^ = , in cr> Ti N «£ r^ TT r J5 r- Tf — o ;7i tc 'rt CJ l-~ ::> en •-" C 3 I T >n « t» m o Tt o o T» to o CO o t^ ^? ;r_>n^-^ oi «o x o <N^ _3]^ V> o> -1^ — -- >> CJ I--" i> t^ cr> l> l-~ , 2'" "lo'oi'to'lf ' C» M M C3 c<( 4> •V? Si: 3:3 LIST OF STOCKHOLDERS. A'iuno.^. 3.-. Name yames. Elkin, Willis [ 36 1 ^ JVames. 37 ] JS'ames, Johnston, Lydia Johnston, Charles W. Justice, J. C. Johnston, Milas W. Johnston, Albert Jones, Cadwelder (Adni' Johnson. William D. Kerr, D. Wt^ Krimniinger, L. B. Kerr, Samuel B^immoiis, Samuel Kerr, Dr. Samuel Kirkland, John U. Kahnweiler, David Kahiiweiler, S. B. Kidder, Edward Kahnweiler, Daiuel Kentifdy, Thomas Kane, Jo[m Kennedy, J. E, King, Elam Kelly, Charles Kerr, Samuel JI., (Adm'r Kirkiuaii, Lcven Kerr, Martha J. Klutts, George King, Elam, (Guai'diaii,j Long, J. .M. Lei taker, Daniel Lindsay, Andrew Lambetia, Jane Lambeth, Shed li. Lambeth, D. T.- Lambeth, J. W. Lambeth, John H. Lambeth, Francis S. Logan, J. B. & J. Lambeth, A. C. Lindsay, Jed. H. Lindsay, Jesse H. Leonard Jonathan Leonard, C. H. Lamb, C. & J. Lamb, Anderson Latta, John C. Latimer, C. M. Lynch, Thomas Leslie, Robert Leach, M. W. Leach, L. M. Lippitt, J. J. Lane, William K. .Sha>-( r,) •(c. [38] Nanus, >» 40 ] Tho!n-is, John W. Thomas, Jesse Turner, Wilford Thorn, John R. Taylor, Fisher B. Thorn, John W. Thacker, Isaac Thornton, Thomas Tinnen, David Ti linen, C. C. Turner, Josiah Turrentine, J. C. Trott, S. S. Tate, Samuel N. Turner, Samuel Taylor, J. A. Tucker, W. H. & R. S-Turner, Henry D. Turner, Thomas Turrentine. Samuel H. Tull, John G. Thompson, W. ET ^i Townsend, A. *'" Upchurch, Bartley Upchurch, W. C. VanBokkelen, A. H. "Walker, Morgan A. White, S. A. Watson, E. F. Williamson & Co., J, E. White, Samuel M. Watkins, Samuel White, C. N. White, J. W. White, Adeline W. White, H. B. White, C.L. WinekoflF, J. White, R. J. White, P. P. Winecoflf, M. White, A. M. White, V. D. White, J. P. White, W. CO. Widenhouse, M-Wilson, Isaac White, A. B. Winecofl', R. W.atts, W. F. Wharton, A. C. Williams, Francis Welch, Vf . H. & J. Welch, Jonathan Watson, J^S. Wharton, John WhartoD, J. (J. Shares. 152 1 18 7 9 1 20 1 1 2 2 5 53 15, Names. Wiley, Shannon Weir, D. P. Wilson, William Wilson, Andrew Wharton, Elisha Westbrook, S. W. Wilson, Archibald Winborn, W. A. Wharton, Daniel Wharton, Watson W. 5|Whitt,David 2 Worth, Joseph A. 4o!Woodburn, A. C. o/.JWeatherly, Joseph A. " Wilkinson, John Watson, John Webb, Thomas Wilson, Alexander Jr., Wilson, Alexander Sr , Ward, William Sr., Wilkins, Edmund Withers, Thomas S^Whitford, John D. 1 (White, J. D. inlWood, W. A. '"Wood, D. B. Wood, T. S. Wood,lH. Wright, W. A. " -1 Wright, Thomas H, Worth, T. C. Watson, J. W. B. Washingtou, Richard Wilson, Samuel M. Williams, Alfred White, J. B. Williams, John R. Womble, Jordan Woodal, A. P. Williams, H. Wilkes, John Washington, John C. Wooten, Council Wilkes, Edmond White, George W. Widdington, W. A. Wilson, Thomas J. Walker, Sarah Worth, Daniel Williams, Sarah A. .White, .James C. ^IWebb, James fjWebb, J. & J.H. ^M Williams, Lewis S. ] I Wilson, R. W. ^iTonng, R. S. ^^1 Young, J. C. ^^lYork, A. J. ^Yokeley, Samuel ' J Young, Th'/mas M. !j [Young, Thomas l|Yonng, Moses D, I Yates, C. G. *Zachary, Eliza J. Shares. 2 27 1 5 1 1 4 14 7 5 1 I 1 1 1 1 41 1 5 1 6 .5 13 2 1 1 1 1 5 10 5 50 34 5 3 1 1 2 1 2 62 15 2 9 1 3 5 2 1 5 5 30 'l 5 1 6 y 5 /v
Object Description
Description
Title | Proceedings of the... annual meeting of the stockholders of the North Carolina Rail Road Company |
Other Title | North Carolina Rail Road, amendments to the charter, proceedings of stockholders... |
Creator | North Carolina Railroad Company. |
Date | 1864 |
Subjects |
North Carolina. Railroad Company--Periodicals Railroads--North Carolina Tobacco Soldiers Cotton--North Carolina Railroads |
Place |
Raleigh, Wake County, North Carolina, United States North Carolina, United States |
Time Period |
(1860-1876) Civil War and Reconstruction |
Description | Title from cover. |
Publisher | [North Carolina] :NC Railroad Co.,1852-1871. |
Rights | State Document see http://digital.ncdcr.gov/u?/p249901coll22,63754 |
Physical Characteristics | 20 v. ;21-23 cm. |
Collection | University Library. University of North Carolina at Chapel Hill |
Type | text |
Language | English |
Format |
Reports Meetings |
Digital Characteristics-A | 2350 KB; 56 p. |
Digital Collection |
Ensuring Democracy through Digital Access, a North Carolina LSTA-funded grant project North Carolina Digital State Documents Collection |
Digital Format | application/pdf |
Title Replaced By | Proceedings of the stockholders of the North Carolina Railroad Company(OCoLC)39694034. |
Title Replaces | North Carolina Railroad CompanyProceedings of the general meeting of stockholders of the North Carolina Rail Road Company, at Greensboro', July 10, 1851(OCoLC)51906929. |
Audience | All |
Pres File Name-M | pubs_edp_proceedingsofNCrailroad1864.pdf |
Pres Local File Path-M | \Preservation_content\StatePubs\pubs_edp\images_master\ |
Full Text |
Library
OF THE
University of NortH Carolina
This book was presented by
Members of the family of the late
COL. A. B. ANDREWS
Jlmij^''-
UNIVERSITY OF N.C. AT CHAPEL HILL
00032740589
This bookmust not be
taken from the Library
building.
.#^
PROCEEDINGS
\ 4
FIFTEENTH ANNl^L MEETING OF THE
^t0Jffelt0hUt!3i
NORTH CAROLIM RAIL ROAD COMPANl
HELD AT RALEIGH,
Thursday, July 14, 1864.
a
-n
RALEIGH:
PBIKTED At THE INSTITUTION POB THE DEAF AND DUMB AND THE BLIND. \
1864.
^! fpP
»
*^*
i*^j:'!!'
«>KSil>5%i*S!Stt*ft^->-- ^—»^-. -^-..-w'l
PROCEEDINGS.
Raleigh, N. C, July 14, 1864.
The Fifteenth Annual Meeting o£ the Stockholders of
tlie North Carolina Rail Road Company assembled, this
day, in the Commons Hall, at 11 o'clock, A. M.
On motion of Gov. Morehead, D. M. Barringer was
called to the Chair.
On motion of Wm. Murdock, F. A. Stagg and Edward
R, Stanly were appointed Secretaries.
^
I
The committee appointed, at the last meeting, to verify
\ proxies, reported through their chairman, George W.
I
Mordecai, Esq., that 2,165 shares of stock were repre-
I
sented in person, and 4,308 shares by proxies, and that
; more than 1 00 stockholders were represented in person
or by proxy. The meeting, therefore, was declared duly
I organized and ready for business.
I
Ralph GorrelJ,' Esq., presented his credentials from the
> Governor, authorizing him to act as State proxy for the
\ ensuing year.
\ On motion the several reports from the board of di-
;: rectore, the committee on the sinking fund, the finance
i committee and the committee of examination were read,
I
received, and ordered to be printed with the proceedings.
• On motion of R. S. Tucker, the meeting proceeded to
^ elect four directors for the ensuing year.
\ On motion of the same, Geo. W. Mordecai and D. A.
\ Davis were appointed to superintend the election.
I The vote ha^-ing been taken, the committee reported
\ the whole number of votes cast 6,220, necessary to a
\ choice 3,111 votes. Thomas Webb received r5,950;
{ Giles Mebane, 5,-336 ; John L. Morehead, 5,380 ; P. C.
[41
Cameron, 6,065 ; scattering, 2,149. The above gentle-men
were declared duly elected for the ensuing year.
The following resolution was offered by Archibald
Carter.
Ordered, That the directors of this company be di-rected
to abrogate and rescind all contracts, that they
have made with the,Southern Express Company for the
carrying freight and other matter and things, and that
they correspond with the authorities of the railroads
from Richmond to Columbia, and make some joint ar-rangement
for performing all the duties now performed
by the said Southern Express Company, and if they can
not make any fair contract or arrangement with said
''^companies, that the directors be directed to have all
freight and other matter transported under the control of
the officers of their own road.
The following was. offered by Kemp P. Battle, Esq.,
as a substitute to Mr. Carter's resolution, which was ac-cepted
by Mr. Carter, and upon the vote, bein^ taken
was carried.
Resolved, That the president and directors of this
company be instructed to correspond with all the con-necting
rail road companies in tho Confederacy, with a
view to organize a rail road express company, to be com-posed
of rail road compa»nies.
By Thomas Webb
;
Resolved, That the directors of this company be re-quested
to institute a local express on this road, and that
the Southern Express Company be forbidden to carry
any article over this road, unless it comes from anotner
road, or is to go to some other road. Passed.
• By Ralph Gorrell :
Resolved, That the compensation allowed the commit-tee
of finance and the directors of the North Carolina
Railroad, be increased to thirty dollars for each day, in
which that shall be engaged in the service of the com-pany,
and that compensation shall have a retrospective
operation so far as the committee of finance is concerned
^or twelve months.
[5]
On motion of R. S, Tucker, the meeting adjourned
until five o'clock, P. M.
AFTERNOON SESSION.
The meeting was called to order and the resolution of
Mr. Gorrell taken u[..
Dr. IJolt moved to amend Mr. Gorrell's resolution, by
striking out increased compensation to directors, which
was lost.
George .W.Mordecai, Esq., then moved to amend so as
to include the examining committee, and Mr. Gori-ell's
resolution as thus amended was passed.
By George W. Mordecai
:
Resolved, That the salary of the presidenic of the North
Carolina Rail Road Company be fixed at six thousand
dollars per annum, and that of the treasurer at five thou-sand
dollars, commencing June, 1863, and that the se-cretary
be allowed four thousand dollars, connnenciog
April, 1S64, and that the same salaries be continued un-til
further order of the stockholders. Passed.
By Dr. Holt
:
Resolved, That the name Company's Shops be retained
as the name of the Work Shops, and appendages of the
North Carolina Railroad. Passed.
By Ralph Gorrell
:
Resolved, That the president and directors of this road
be requested hereafter in their annual leport to the
stockholders, to set forth the names of all officers and
employees m the employment of this company, with an-nual
salaiy attached to each. Passed.
By Wm. Murdock:
Resolved, That the president and directors of this
company be authorized to subscribe to the capital stock
of the Chatham Rail Road Company a sum not exceed-ing
two hundred thousand dollars. Passed.
By Kemp P. Battle
:
Resolved, That a committee of three be appointed to
correspond with the various railroads on the subject of
\ ^ ]
procuring a charter of a "Railway Importing and Ex-porting
Company," and to memoralize the next General
Assembly on the subject. Passed.
The following gentlemen were appointed committee:
Thomas Webb, John M. Morehead and P. C. Cameron.
On motion of Dr. Pride Jones, the resolution of Thos.
Webb, respc^.tiug the, express company was r(?scinded,
and the following oftered by Thomas Webb, passed in
its place.
Resolved, That the president and directors of this com-pany
be requested to institute and establish as soon as
practicable a local express upon the North Carolina
Railroad.
On motion of G. W. Mordecai, Esq., the same commit-tee
of finance and examining committee were appointed
for the ensuing year.
On motion of Mr. Thos. Webb, the following gentle-men
were appointed a committee to verify proxies the
ensuing year: D. A. Davis, A. Myers, J. I. Shaver and
Wm. Murphy.
By George W. Mordecai:
Resolved, That the finance committee be instructed to
examine into the general accounts and books of the com-pany
as well as those of the treasurer, and see that they
are properly kept and report to the annual meeting of
the stockholders. Passed.
On motion the thanks of the meeting were tendered
to the president and secretaries.
On motion the meeting adjourned sine die.
D, M. BARRINGER, Chmrman.
F. A. Stagg, > o , •
E. R. Stanlx. )
Note.—The following gentlemen were appointed by
the Governor directors on the part of the State for the
ensuing year: W. C. Means, of Cabarrus ; D. A. Da^is,
bf Rowan; Cvi'us P. Mendenhall, of Guilford; John
I n j
Everett, of Wayne; John D. Flanner, of Craven ; RufuS I
S. Tucker, of Wake ; C. W. D. Hutchings, of Wake, 1
and John Berry, of Orange. '
\
The sixteenth annual meeting will be held in Salis- ;
bury, the second Thursday in July, 1865. I
BOARD OF DIRECTORS' REPORT.
Office of the North Carolina R. R. Co., )
Comjyany iShops, July 6th, 1S64. )
In accordance with the requirements of the Charter,
the Board of Directors have the honor to submit the fol-lowing
report, showing the operations of the Road for
the fiscal year ending 31st May, 1864.
The President's Report shows the operations of the
the Road in full ; that of the Chairman of the Sinking
Fund gives full information in regard to that important
branch of our Finances. Elaborate tables have been
made up with great care to show the operations of the
Road in detail.
A Dividend No. 7, of 15 per cent., has been declared,
the time of payment will be announced by the President
and due notice given to the Stockholders through the
public press.
^^^^^^i^^^^i^^wS^^^^^^^^^i^^^
9]
PRESIDENT'S REPORT.
Pkesident's Office N. C. R. R. Co., )
Company Skops^ July 6th, 1864. 5
To the Board of Directors:
Gektlemin : I submit to you the Fifteenth Annual
Report of the operationa of the Road for the jear end-ing
3l8t May, 1864.
earnings from all sources.
From Passengers, other
than Troops, $851,483 40
From Government Pas-sengers,
695,709 27
Prom Freight—Private, $609,316 35
From Freight—Govern-ment,
743,680 91
From Freight—Southern
Express Ompany, 292,175 75
$1,547,192 67
From Interest, $6,741 08
From Maik, $96,375 00
Prom Shops, $19,641 62
Prom Rent, 8,166 16
$1,645,073 01
$33,116 08
$21,697 78
Total earnings, $8,247,079 54
[10]
Transportation,
Maintenance of Road,
Maintenance of Cars and
• Machinery,
Tax,
Interest and Premium on
Bonds,
EXPENSES.
$293,554 34
108,558 76
35,171 86
33,747 09
Rent of Cars and Engines, 109,980 50
Hand Hire.
Loss and Damage,
Salary,
Supply Account,
Purchase of Engines,
181,698 89 ,
115,617 07„
49,546 99
462,286 82
46,000 00
\,-y
Nett Earnings,
Compared with last year
—
G-ross Earnings—31st May, 1864,
«' c; u « 1863,
Excess this year, ' r.vJ,80.;
.
Nett earnings this year,
" " last "
Excess nett earnings,
- $1,637,658 01
$1,609,421 53
$3,247,079 54
1,649,935 26
$1,597,144 _28
$1,609,421 53
'"to**!*^- $590,678 37
FiNAifCiAL. :3^sialm |