Annual reports of the president and directors and the general superintendents of the Wilmington, Columbia & Augusta and Wilmington & Weldon R.R. Co.'swith the proceedings of the general meeting of stockholders. |
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u ''''^^ of t^r Onitier0itp of Bonb Carolina Collection of Bott^ Carolmiana ^^i0 booh tDa0 pte0enteti ^^G>0-73 li;U,l«l.^,l"<(.B.y<unVkn This hook must not he taken from the hihvavy huildin^. F LUNC-5M Ja.35 OP-10915 Digitized by the Internet Archive in 2010 with funding from Ensuring Democracy through Digital Access (NC-LSTA) http://www.archive.org/details/annualreportsofp1875wilm ^N"NTJ^L REPORTS OF THE PRESIDENT AND DIRECTORS AND THE GENERAL SUPERINTENDENTS OF THE If ilitiittgtoii, {him \ liijii^ta o AND THE ^ iel RAIL ROAD COMPANIES, WITH THE PROCEEDIMS OF THE &ENEEAL MEETIH6 OF STOCKHOLDERS, November 17tli, 1875. WILMINGTON, K C: THE MOENING STAR STEAM POWER-PRESSES. 1875. OFFICERS FOR 1875. Wilmmgton, CokmMa & Angnsta R, R. Co. HON. E. R. BRIDGETS, Presidetit. COL. J. B. PALMER, W. T. \¥ALTEriS, Esq., Vice-Presidents. BOARD OF DIRECTORS: W. T. Walters, S. M. Shoemaker, B. F. Newcomer, J. D. Cameron, J. B. Palmer, H. B. Short, Geo. S. Brown, L. D. Childs, W. H. Graham. J. W. THOMPSON, Secretcmj and Treasurer. JAMES ANDERSON, General Superintendent. T. D. KLINE, Master of Transportation and Assistant Sup't. W. H. TURRENTINE, Master of Machinery. P. McLaughlin, Road Master. R. M. WALKER, Road Master F. H. GORDON, Atiditor. A. POPE, General Freight and Ticket Agent. OFFICERS FOR 1875. Wilmington & WeMon Rail Road Company. Hon. R. R. BRIDGERS, President. B. F. NEWCOMER, Esq., Yice President. BOARD OF DIRECTORS : W. A. Weight, W. T. Walters, George Harriss, B. F. Newcomer, C. H. Brogden, S. M. Shoemaker, W. H. WiLLARD, A. J. DeRosset, George Howard, J. D. Cameron. J. W. THOMPSON, Secretary/ and Treasurer. J. F. DIVINE, General Superintendent. JAMES KNIGHT, Master of Transportation. .T. F. DIVINE, Master of Machinery. JOHN BARRY, Road Master. E. F. CASON, Storekeeper. F. H. GORDON, Auditor. A. POPE, General Freight and Ticket Agent. I^ROCEEDIISraS OF THE ' SIXTH ANNUAL MEETING OF THE STOCKHOLDERS OF THE Wilmington, Columbia & Angnsta R, R. Co. Wilmington, N. C, Nov. 17, 1875. Pursuant to the published notice and the resolution adopted at the last annual meeting, the Stockholders of the Wilming-ton, Colund^ia and Augusta Rail Road Company convened at the office of the President, in the city of Wilmington, at 12 o'clock M. on Wednesday, the 17th of November, 1875, to hold the regular annual meeting. On motion of B. F. Newcomer, Esq., Col. H. B. Short was called to the Chair, and J. W. Thompson was appointed Sec-retary. It appearing that 2,867 shares of the capital stock of the Company were represented, being almost the entire number of shares, the meeting was declared to be duly organized. The annual reports of Col. J. B. Palmer, President, and Hon. R. R. Bridgers, General Manager and Vice President, together witli the reports of the Superintendent, Treasurer and Auditor, were submitted, and the Secretary was ordered to have 350 copies published with the proceedings for distribution. The election for President being in order, Col. J. B. Palmer declined a re-election, and nominated Hon. R. R. Bridgers. Mr. Bridgers received the unanimous vote of the meeting and was declared duly elected President. The following gentlemen were then elected Directors: J. B. Palmer, W. T. Walters, B. F. Newcomer, H. B. Short, Geo. S. Brown, W. H. Graham, S. M. Shoemaker, J. D. Cameron and L. D. Childs. On motion it was resolved that the next annual meeting be held in Wilmington on the Tuesday next succeeding the third Monday in November, 1 876, There appearing no other business, the meeting was declared to be adjourned. H. B. SHOKT, Chairman J. W. Thompson, Secretart/. PROCEEDINOS OF THE FORTIETH ANNUAL MEETING OF THE STOCKHOLDERS OF THE Wilmington & Weldon Rail Road Company, Held at Wilmington on the llth day of November, 1875, Wednesday, 11 o'clock A. M. WionNGTON, N. C, Nov. 17, 1875. The Stockholders of the Wihiiington and Weldon Railroad Company having this day assembled in conformity with a reso-lution adopted at the last annual meeting, On motion of B. F. Newcomer, Esq., Governor Curtis H. Brogden was appointed Chairman and J. "W. Thompson Sec-retary. The Secretary and Major J. A. Engelhard were appointed a committee to verify proxies and ascertain the number of shares of the Company represented at this meeting. The committee reported 8,599 shares represented, of which 2,867 were repre-sented by the holders in person and 5,732 by proxy. Whereupon, it appearing that more than a majority of the shares of the capital stock was represented, the Chairman de-clared the meeting duly organized for the transaction of business. Hon. R, R. Bridgers, President of the Company, made a verbal report of the condition and business of the Road, and stated that the annual reports of the several ofiicers would be published with the proceedings of the Stockholders of the Wil- mington, Columbia and Augusta Hail Road Company, and be ready for distribution in a few days. On motion of Silas N. Martin, Esq., the meeting proceeded to the election of a President and ten Directors, Whereupon Hon. H. R. Bridgers was unanimously elected President, and the following gentlemen Directors: W. A. Wright, A. J, DePosset, George Harriss, C. H. Brogden, W. H. Willard, George Howard, W. T. Walters, B. F. Newcomer, S, M. Shoemaker and J. D. Cameron. On motion it was resolved that the next annual meeting be held in Wilmington on the first Tuesday after the third Mon-day in November, 1876. On motion of W. A. Wright, Esq., the thanks of the meeting were returned to his Excellency Governor Brogden, not only for the dignity and urbanity with which he has presided over the deliberations of the meeting, but for the interest his pres-ence manifested in the affairs of the Company, Governor Brogden acknowledged the compliment in a few well chosen remarks. After which the meeting adjourned sine die. C. H. BPOGDEN, Chairman. J. W. TnoMrsoN, Secretary. ktsibmt's Mtipoxt Wilmington, N". C, November lytli, 1875. To the Shareholders of the Wilmington, Columbia c& Augusta Rail Road Company : GrENTLEMKN I—TliG vcports of tlic (ieaeral Maiiagei-, and of tlie Superintendents of the Wilmington, ColmnLia c% Augusta Rail Road Company, and of the Wilmington & Weldon Rail Road Company are herewith submitted. It will be observed that the net earnings of the Wilmington & Weldon Rail Road Company, for the twelve month ending September 30th, 1875, are $269,509 25 To which should be added interest received, 3,37 1 23 $272,880 48 Amount of interest paid, $1 16,899 ^9 " " Rental Dividends paid, 101,661 00 " invested in Real Estate and old accounts charged to Profit and Loss account, 9)207 24— 228,767 93 Net profit to credit of lessor $44, 112 55 The net earnings of the Wilmington, Columbia & Augusta Riiil Road Company, for the same period, are.. . . $136,158 60 To which add profit derived from operating the Wilmington & Weldon R. R. for the year, . . 44,1 12 55 $183,271 15 Paid Coupon interest and discount, 282,323 59 Deficit, $99,052 44 Less proceeds of Bonds sold, 23,682 50 Net deficit, $ 75,369 93 10 The freight receipts of the Wihniugton, Cohinibia & Augus-ta Eail Road show a decrease of 26 per centum on local and aii increase of 5 per centum on through freights. In the passen-ger receipts there is a decrease of 16 per centum in local and an increase of 6 per centum in through travel, from which it is apparent that the causes Avhich have led to" diminished re-ceipts are local, and therefore, it is believed, temporary in their character. For further explanation under this head you are referred to the very full report of the General Manager. The l)ills payable of the Wilmington, Columbia & Augusta Eail Eord Company, which at the end of the fis'cal year amounted to $985,419 66 (exclusive of the $20,000 for the pay-ment of which the Charlotte, Columbia & Aiigusta Rail Road Company is liable) had, up to the 13th instant, been reduced by payments from our net earnings to $921,348 72. It is known to the Shareholders that the freight depots and shops, and engine houses of the Wilmington, Columbia & Au-gusta Rail Road are on Eagle Island, on the West side of the Cape Fear, while the depots and shops of the Wilmington & Weldon Rail Road are on the East side of the river, the two depots being connected l)y a track over nine miles in length. It is essential to the economical working of the Wilmington. Columbia & Augusta Rail Road that its shops and depots shoiild be removed to the AVilmington side of the river and connected with those of the Wilmington & AVeldon Rail Road. While, therefore, the business year opens with such fair pros-pects that it may reasonably be expected that its net earnings will exceed those of any preceding year, still, in view of the great importance to the permanent value of the j^roperty of the Company of the removal of the shops and depots above refer-red to, and the building of the necessary docks, etc., and the expense attending the same, it becomes neoessary to ask the in-dulgence of the first mortgage bondholders till the changes re-ferred to are made. Thenceforth, it is believed, there will be no trouble in promptly meeting our interest and gradually pay-ing off our floating debt. The increased value of the road will fully compensate the holders of bonds, for which it is nioi-t- 11 ^^aged as secnrity, for the temporary suspension of the payment of coupons. Tliere can he no douht as to tlie ultimate value of the Wil-mington, C()luml)ia & Augusta Rail Tload if we are permitted to effect the changes and improvements to which we have alluded, and we would therefore earnestly reconnnend that they be made. All of which is respectfully submitted. JOHN B. PALMER, Pi-esldejit. \tmral manager's S^port Wilmington, N. C, November, 1875. To the President and Dlreetors of the Wilmington, Cohimhia and Augusta Rail Boad Co7nj)a7}y : 1 lierewitli submit tlie reports of tlie Superintendents, Treas-urer and Auditor of the Wibnington, Columbia and Augusta and AVibnington and Weldon Rail Roads for the year ending the 30th of September, 1875. From these reports it will be seen the roadway and rolling stock have been much improved, and the property increased in permanent value. In the construction of the Roads they were not ballasted. For several yeai-s past on each of them large expenditures have been made in ballasting ; the work especially on the Wilming-ton, Columbia and Augusta has been nearly completed. Had this work been done sooner much would have been saved in iron and rolling stock. In the future there will be a reduction of expenses in this item. During the year a Howe tress bridge has be(3n completed across Fishing Creek at a cost of $13,000. of wliich $3,000 was paid the previous year. At the close of the war for want of means a trestle instead of a bridge was built across the creek. More than once the condition of the trestle, from high water, has very nearly interrupted tlie passage of trains. It was thought to be most economical to build a l)ridge instead of a trestle that required Avatching on every rise of the stream. During the year there has been filled on the Wilmington, Columbia and Augusta Rail Road 400 lineal yards of trestle 13 and 300 on the Wilmington and Weldon Eail Koad, wliicli will be an annual saving of $1 50 per lineal yard. Gross receipts of the year $1,254,892 02 Operating expenses 846,224 1 7 Net balance $ 408,667 85 The receipts have been reduced below the usual average by ruinously low rates at competing points and by great depression in every branch of business. The truck and fruit business, which comes at a season when there is leisure in the Transportation Department, was entirely cut off by frost to an extent greater than for the past ten years. This business, which usually paid the Eoads $12,000 annually, has not yielded this year over $4,000. Naval stores, which gives the AVilmington, Columbia and Augusta Kailroad the largest item of local freight receipts, has been reduced in pro-duction more than one-fourth; there has been a diminution of 9,677 barrels of spirits of turpentine and 41,065 barrels of rosin. The price of that product has been until of late so ruinously low as to give the producer no net returns, which has greatly reduced the merchandise freight to the local stations. The white oak stave business, which heretofore employed many laborers, has been suspended. Only one of the eleven saw-mills on the line of the Road is now running. Of the several shingle companies only one continues to do a bussines on a large scale. In previous years the ton-timlier transportation required a train ; now it has been nearly suspended. The great reduction of receipts has been in the local business in the items named, which will return again on the revival of business. The through business has been well maintained and compares favorably with former years. While forest products have had a diminished, production with a diminished price, those of the soil have been more abundant. It is hoped that such arrangements have been made as will secure rates ior the coming year that will pay greater profit on competing freights. The country along the line of Road has had one of the best crop 14 years ever known—nuule with smaller advances on the crop than any since the war. The prodncer has grown more of his snpplies, which will leave less demand on the cotton crop. A better feeling seems to pervade bnsiness circles; all seem to be more hopefnl. with tlie belief that the bottom of the financial depression has been reached. The opening fall trade shows an improvement on that of the preceding year. The ontlook for business gives pronn'se of a better year than the one just closed, while tlie rigid economy of the past two years leaves the pro-dncers less invidved than when they sold all they produced and bought all they consumed. In our system of accounts whatever is paid during the year is charged to operating 'expenses ; eonstructiou account is closed. Although the expenditures increase the value of the property, still they are charged to operating expenses. TVliile the system is very Siife it often makes the net profits appear less than they really are shown to be for the year. For the "Wilmington, Columbia and Augusta Rail Road, in the previous year, 1,614 tons of iron were bought; this year 803 tons were bought, both on time. During the year $5 1, 1 32 40 has been paid, which is, after deducting old iron, $30,12732 more than the purchases of the year or the annual average requirement, yet it is charged in the operating expenses of the year. Two parlor ears have been completed, on which $8,146 70 has been paid ; tilling trestle and ballasting have cost $4,cxx:), all of which adds to the value of the property. Also there is $10,560 less of debts in the Superintendent's Office than at the beginning of the fiscal year, showing $10,560 paid for previous years and $54,449 },- f^^r betterment of property—all of which, added to the apparent net, makes it $193,607 92. On the "Wilmington and AVeldon Rail Road there has been paid the sum of $30,432 41 in like manner for iron, $10,000 for Fishing Creek bridge, $12,500 for parlor cars, $4,000 for trestle filling and ballasting, and $935 25 paid on wharf. These payments, made for the improvement of property'and for pre-vious year's iron, added together niake $57,867 66, which gives the real net for the year for both Roads $520,984 S^. 15 We l)egin the new year under nujre favoralde eireurngtanees tlian ever l)efV)re. It<jadwa_v, motive ])owei" and rollinLT stock in a good and improved condititjn ; require no new cars nor loco-motives, and $12,000 less new iron, with an unusually small amount of outstanding bills to i)ay in the incoming year. "VYith the same business the balance sheet will show enough to meet interest and rent after the payment of all expenses. The agri-cultural prospects along the entire line are constantly improv-ing. On the Wilmington, Columlna and Augusta Rail Road, although not so good a crop year as the preceding, there has been an increase of 6,660 bales of cotton in local shipment, and a full supply of grain has been gnjwn. The common opinion is that trade is reviving and it will \)C a better business year than the one just closed, which thus far is fully sustained by the opening trade of the fall months. The cost of operating the Roads can be diminished some $10,000 to $12,000 in the cost of fuel by buying cheap pine lands and let by contract to cut and deliver the wood on the side of the Road instead of buying it. There are at least three miles of trestle that can be filled for less than the average cost of two years' repairs, saving, after the same is done, not less tliaii 87,500 per annum in trestle repairs—substituting perma-nent for temporary work. A very great saving can be made by having one freight depot and one shop for the two Roads, one freight agent, several clerks and watchmen, one foreman in machine shops and one in the car shops, with the cost of running a stationary engine saved by the consolidation. If arrangements for this purpose were made on the east or city side of the Cape Fear river, on the property of the Wilmington and Weldon Rail Road, five and a-half miles of track, two of which is trestle, and running the cars over it would be saved. The part to be taken up is six and a-half miles, but one mile would be required to be Ijuilt from the Union Depot to the river. It is difficult to make an accurate estimate of the cost of removal of shops and other changes necessary to bring about this consolidation, but a considerable portion of it would be met by the iron, cross-ties, spikes, (fee, that would be taken up 16 and saved on the six and a-half miles of track now in use on the west side';of the river, which would then be dispensed with, and in view of its great importance to the permanent value and productive capacity of tho Wilmington, Columbia and Augusta Rail Road, I would earnestly recommend that steps be taken at as early a day as possible to bring about the change, feeling assured that it would result in a saving of $20,000 to $25,000 per annum in operating the Road. The new wharf of the Wilmington and Weldon Rail Road is ample for the present for accommodating the trade of steam-ers and sail vessels for the two Roads, and will enable the com-mencement of the work of consolidation at any time it may be considered advisable. In conclusion, I do no hesitate to say that a better business with better net resuhs will be done the coming year. Respectfully submitted, R. R. BRIDGERS, General Manager. fViij^txinUnbmt*B %tfoxt AVi'iMixGTOx, Columbia. & Augusta Rail Road Co., General Superintendents Office, WiLMixGTOK, jST. C, November i/tli, 1875. Hon. R. R. Bridgers, General Manager Wilmington, Colum-hia and Augusta Rail Road : Sir—I respectfully submit my annual report of the operations of this Company for tlie fiscal year ending September 30th, 1875. THE EARNINGS ARE From through passengers $76,714 95 " local passengers 71,349 66—$148,064 61 " freight 406,101 03 '• express 3.518 52 " U. S. mails 25,882 13 " Government transportat'n 1,379 59 " minor sources 8,650 79 Making total receipts from all sources $593,596 67 Equal to $3,140 72 per mile of Road. THE EXPENSES ARE By conducting transportation.. $130,865 75 " motive power 91,973 61 " maintenance of ears 43,464 32 " maintenance of roadway. . . . 147,201 90 " general expenses 40,932 49 Total $454,438 07 From which deduct the following extraordinary expenses: Excess paid for iron compared with previous year $30,127 32 Outstanding bills for material, &c., reduced 10,000 00 New cars built 8,640 00 Filling trestle and ballasting road-bed 4,230 00 New section houses, &c 1,452 00—$54,449 32 — Making the actual operating expense $399,988 75 Leaving balance in favor of receipts, $193,607 92 Being 67.4 per cent, of the gross income. 18 Dnriiiii; t'le fiscal year 42,15010118 of local and 52,331 tons of tlirongli freight have been carried, making a total tonnage of 94,48 1 tons. A comparison with the previous year's business shows a decrease of 26 per cent, in local and an increase of 5 per cent, in through freight. We have carried 46,385 local and 19,715 through passengers, which is a falling off in local of 16 per cent, and a gain of 6.2 per cent, in through travel. EOAD DEPAETMEXT. The repairs and renewals in this department have been well maintained during the year. Eight hundred and two (802) tons of new iron rail and 53,216 cross-ties have been purchased and used in the track. About fifteen miles of the road-bed has been well ballasted with sand, many of the defective banks widened and filled uj) in proper form. The ditching has also been attended to so far as our limited force would permit. All the trestles on the line of road have been well kept in repair. The timber used for this purpose amounts to 287,000 feet. Thirty new frogs and two steel crossings have been put in the track—one at the crossing of the Camden Road, the other at the South Carolina Rail Road crossing near Columbia. One new section-house and warehouse has been built at Eastover, and five small shanties at various points on the line, for the ac-commodation of Road hands, have been erected during the year. The sum of Si 47, 201 90 has been expended in this depart-ment as follows : jSTew iron, joints, chairs and fastenings $54,726 00 Paid for cross-ties 1 5,7 1 3 3 ' All other repairs and expenses 76,762 59 Total $147,201 90 It will be seen from the above statement that a large propor-tion of the expenditures in this department has been for ma-terial, thus increasing the value of your property that amount. I can safely report the Road is now in better condition than ever before. 19 MACHINERY DEPARTMENT. No additions have been made to the number of our locomo-tives during the year. On the 27th day of February last engine No. 23, attached to the day passenger train, when about fifteen miles east of Co-lumbia, was thrown ijito a trestle, by running over a large ox, and was considerably danuiged, causing an expenditure for re-pairs of $2,963 23. The engines Nos. 6, 10, 11, 14, 18, 21 and 23 have been thoroughly repaired. All others are in first class order, except those reported otherwise in the tabular statement of your Master Mechanic, a copy of which is herewith submitted : Number of miles run by passenger engines. . 218,860 " " " freight engines 215,759 *•' " " road service engines 1 8,63 1 " " " switching engines 53,353 Total mileage , 506,603 Average number of miles run to one cord of wood. . . . 49.56 " " " to one pint of oil 40.42 Cost of repairs per mile run 3-84 " fuel per mile run 4-44 " stores per mile run 44 " engineers, firemen and wipers 5-57 Total cost per mile run 14-29 CAR DEPARTMENT. Since my previous report one new first-class coach has been built and a second-class one nearly completed. Passenger coaches Nos. 9, 11 and 12 have been repainted and varnished. No. 5 second-class coach has been rebuilt and changed to No. 14. Three sets of new coach trucks have also been built and $2,865 16 expended on repairs of Pullman's sleeping cars. In the Freiii'lit Department three new box and four flat cars have been built to replace others worn out or destroyed. Three sets of new^ tender trucks and two new tender frames were also furnished for the Locomotive Department. Ten new push cars and twelve warehouse trucks have been built and furnished the Road Department. Six hundred and fifty new wheels have been used in repairs during the year, as follows : 20 On passenger, mail and baggage cars 146 On sleeping cars 90 On freight cars 236 On engine and tender trucks 178 Total 650 In addition to the above 325 old axles have been renewed on the ends and refitted in our shops. The continued depression in the naval stores business, as well as every other industry from which we derive our local trade, has caused a reduction in our revenue, while the through busi-ness shows a small increase. This condition of things seems to indicate the necessity of perfecting our through connections and furnishing every facility and comfort to travel so that we may not only maintain but increase this business. I am pleased to report that during the year our trains have l)een run with great regularity, and, with one exception, an en-tire exemption from accidents. No damage or injury has oc-curred to any passenger travelling over our line. The employes generally have conducted themselves in a most commendable manner. Respectfully submitted, JAS. ANDERSON, General Suj)erintendent. •tiperittt^nirent's B^p^JJ^t Wilmington and Weldon Rail Koad Company, Office of General Superintendent. "Wilmington, N. C, November 17th, 1875. Hon. R. R. Bridgers, President^ &c.: Sir—I have the honor to submit my fourth annual report of the operations of this Company for the fiscal 3'ear ending Sep-tember 30th, 1875 : RECEIPTS AI^D EXPENDITURES. RECEIPTS. From through passengers $106,778 63 " local passengers 103,770 32—$210,548 95 " freight 403,746 81 " express 7,118 58 " U. S. mails 33,812 73 " Government transportafn 910 27 " miscellaneous sources 5,158 01-$661,295 35 expenditures. By conducting transportation... $105,836 61 *' motive power 84,116 07 " maintenance of cars 45,938 06 " maintenance of roadway 139,197 88 " general expenses 16,697 48-$391,786 10 Balance in favor of receipts $269,509 25 Per centage co.st of operating road, 59J. ROAD DEPARTMENT. This important portion of your road is in better condition than it has been for many years. During the past season we have purchased and put in the track 1,200 tons of new (56 pounds to the yard) rail, making 1 3f miles. This, deducted from the balance of old original iron remaining in the track last year, leaves us with about 28i miles of the old rail still in use. 22 We have continued to ran the gravel train through' the entire year, ballasting about forty miles of the road-bed, which will re-duce the expense of keeping up this, the most important part of the Road. The work of ditching and widening the embankments has also to a considerable extent been carried on. There has been about 800 feet of trestle filled in at Fishing Creek, and several other smaller ones completely filled up, thereby not only placing the Road in a better condition in this respect, but also reducing the amount of heavy timl)er which we have been necessarily com-pelled to purchase from year to year for keeping these trestles in proper repair. This item alone would in a few years pay the entire expense of running the gravel train. The Howe truss bridge over Fishing Creek, wliich was com-menced last year, has been completed at a cost of $13,000. Ten thousand dollars of this amount was paid in the present year ; the other $3,000 appears in our previous year's expenses. This In-idge is a splendid piece of work and well sustains the reputation of the builder, Mr. D. M. Renno. • The expenditures of this department show an increase over last year of $23,257 ']6^ which is more apparent than real. The purchase of iron in the previous year was made on long time (in regard to payments for same), this year on short time, thereby causing the payment of $30,432 41 more than belonged to the year. If the same time had been allowed on the present year's purchase this excess would have fallen in the coming year's expenditures. Taking this into consideration, and the $10,000 paid on account of Fishing Creek bridge, the cost 0* maintaining the Road has been considerably less than the year before. MACHINERY DEPARTMENT Is in good condition, with the exception of some of the tools in the different shops, which are old style and much worn after years of constant use. I do not think it economy to continue their use. All the locomotives and cars are in excellent order, repairs throughout having been fully maintained, and I am confident that our motive power and rolling stock are to-day in "better 23 condition tlian ever before. Xo locomotives have been pur-chased during the year. We have one in sliops rebuilding to take the place of an old engine which is completely worn out. The two passenger coaches that were commenced year before last (work on them at that time suspended on account of panic) have been converted into parlor cars and are now nearly com-pleted and ready for service. These cars when finished, in-cluding everything, will cost $6,250 each, or $12,500 for the two, and in regard to neatness and durability cannot be excelled by similar cars in use upon any road, either IS^orth or South. ISTot only will they be an important addition to our passenger equip-ment in way of comfort to the travelling public, but will also be the best advertisement we could possibly have given our line- Below please find statement of passenger and freight ecpiip-ment, as per Master Car Builder's report : PASSENGER EQUIPMENT. First-class passenger coaches. .11 Second-class passenger coaches 8 Mail, baggage and express cars 3 Mail and baggage cars 2 Express cars 5| Postal cars S\ Paymaster's cars 1 jS^eW parlor cars nearly finished 2 Total 35 FREIGHT EQUIPMENT. Box cars . .219 Platform cars 129 Gravel cars 20 Total.... 368 Note.—Last year we reported five postal cars, this year only three, two of them having been sold to the Wilmington, Columbia and Augusta Rail Road during the year. TRAI^SPORTATION DEPARTMENT. The passenger business of this department shows, when taken in comparison with last year, a very slight difference. The freight, I regret to say, does not compare so favorably. The lumber, naval stores and early vegetable business, which here tofore maintained the receipts of the summer months, has through the entire season been light. This is the result in the lumber and naval stores trade of a general prostration of almost every kind of business. The vegetable and fruit business des-tined for the Northern markets, from which in former years we derived no small amount in way of freight, were, I may say, almost totally destroyed by the cold weather, damaging our 24 business not only so far as the outward freight was concerned, but also reducing the amount of inward merchandise which in-variably follows as the proceeds from sale of Southern production. For the coming year I am glad to say we have every indication of a large increase in revenue from this business. Our mail pay shows a gain of $7,867 73 over last year. This is caused by the increase in weight of Government mails car-ried by us. The express business continues very light, notwithstanding the increased facilities we have given that Company for the transportation of their freight. Although the entire receipts from transportation show a fall-ing off from last year, the expenses in this department have also been reduced in proportion. Our trains, as in the past, continue to run with great regu-larity, and the prompt dispatch given to the business is in a great measure due to your Master of Transportation. In conclusion, I take pleasure in saying that a cheerful obe-dience to all orders has characterized every officer and employe of this Company. Respectfully, JOHN F. DIVINE, General Suj)erintendent. 26 Statement of the Financial Condition of the Wilmington, Co- Construction and property account $4,260,595 42 Equipment account 532,435 58 Six engines in service on W. & W. R. R. 70,500 00 Land account 1,113 00—$4,864,044 00 Stock in Cheraw & Salisbury Rail Road. . 15,847 61 " Wilmington Railway B. Co 10,000 00 •' Pioneer S. Boat Co. (p'd on acc't) 4,026 03 " Chester & Lenoir Narrow Gauge Rail Road Company 347 10— $30,220 74 ASSETS. Bills receivable 1,199 40 Due from Postoffice Department 6,302 85 " Southern Express Company. . 307 87 " Agents 16,979 69 ex-Agents 9,089 45 " Rail Road and Steamboat Cos. 67,925 59 *' individuals 9,993 55 Wil. Railway Bridge Co 36,044 06 Steamer Isis 13,496 58 New iron rails 65,784 13 Charlotte, Col. & Aug. R. R. loan acct. . . 20,000 03 Cash 9,972 27— 257,095 44 $5,151,960 18 WiLMi-vGTO:^', N. C, Sept. 30th, 1875. J. W. Thompson, Treasurer, in account current with the Wil- Dr. the fiscal year ending Assets at commencement of the year, as shown by report of September 30, 1874. $259,587 42 RECEIPTS. From transportation of passengers $148,064 61 " freight 406,101 03 " " express freight.. 3.518 52 " mails 25,882 13 from United States 1,379 59 "miscellaneous sources 8,650 79— 593,596 67 Amt rec'd from Wil. & Weldon R. R., net earnings for vear not otherwise applied 44,112 55 Net sales of 24 bonds 23,632 50 Interest received in settlement of acc'ts. . 2,449 28 — 70,194 33 Increased debt this year 74,368 82 $997,747 24 Wilmington, N. C, Sept. 30th, 1875. 27 lumhia and Augusta Sail Road Company, S&ptemher 30, 1875. Ccapital stock $300,000 00 First mortgage bonds $3,200,000 00 Income bonds 600,000 00— 3,800,000 00 FLOATING DEBT. Bills payable l,005,4tfl 60 Due Wil. Railway Bridge Co. (receipts). . 25,388 48 Due on pay roll 15,745 48 Due other Companies and individuals. . . 4,672 55— 1,051,226 17 Profit and loss 734 01 $5,151,960 18 F. H. GORDON, Auditor. mington, Columbia and Augusta Rail Road Compamj, for Septemher '^oth, i875- Ck. Paid operating expenses for the year ending this date: Conducting transportation $130,865 75 Maintenance of cars 43,464 32 Motive power 91,973 61 Maintenance of roadway 147,201 90 General expenses 40,932 49— $454,438 07 Land purchased 1,113 00 Balance of deduction from debts due the Company, charged to profit and loss. . . 2,430 04 Paid for stock in Chester and Lenoir Narrow Gauge Rail Road 347 10 Paid coupons, interest and discount 282,323 59— 286,213 73 Assets at close of the year 257,095 44 $997,747 24 J. W. THOMPSON, Treasurer. 28 Statement of the FinanGial Condition of the Wilmington ASSETS. Railroad and appurtenances, including cost of construction, &c $3,307,938 38 New equipment 75,890 33—$?,383,838 51 Stock in Wilmington Railway Bridge Co. 10,000 00 Stock in Wil. and Weldon Rail Road Co . 3,900 00 Bonds of this Company 15,000 00 Stock in Steamer Vesta 5,000 01— 33,900 01 Bills receivable 4 960 74 Amt due from Postoffice Department 7,705 50 " " other Companies 11,787 67 individuals 5,139 83 " " Agts in service. . . .$6,666 74 Agtsoutofservice.19,460 97 30,137 71 " " Wil. Railway Bridge Co.. 35,77143 " " Southern Express Co 414 37 " of suspense account 3,066 31 " of Wil , Col. & Aug. R. R. Co. lessee. . 9,589 77 " of cash in hand 15,159 65— 104,713 8- $3,433,441 39 J. W. TnoMPSox, Treasurer, in account current with the Dk. Year ending To assets at commencement of the year $133,305 73 TO EARNINGS From freights. $403,746 81 " passengers 310,548 95 " mails 33,813 73 " express 7,118 58 United States 910 37—$656,137 34 To minor sources of income.... 5,158 01— 661,395 35 To interest received 3,371 33 To net amount of 34 bonds sold. 33,633 50 $830,604 81 29 and Weldon Rail Road Company, Septemler ^otJi, 1875. LIABILITIES. Capital stock $1,456,200 00 6 ^ cent, sterling bonds £129.740, at $5 "j? £ $048,700 00 7 " " 44,280, at $5"};^ £ 221,400 00 17 (t gold interest bearingbonds 749,000 00— 1,019,100 00 FLOATING DEBT. Due to individuals and other Companies 1,518 43 Unpaid dividends 7,222 50 Due on pay rolls 14,874 20— 23,615 12 Profit and loss 323,526 27 $3,422,441 39 F. H. GORDON, Auditor. Wilmington aiid Weldon Rail Road Company for Fiscal Septemher 30, 1875. Ck. BY OPEBATIiJfG EXPENSES : For conducting transportation $105,830 01 •' motive power 84,110 07 " maintenance of cars 45,938 06 " maintenance of roadway 139,197 88 " general expense ' 16,697 48— $391,786 10 Paid mileage of cars 3,255 11 " for real estate 719 60 " bal. of old claim of Gilbert E. & Co. 354 98 \ " balance of deduction on old debts closed by profit and loss 4,510 05 Paid am't of reduction of debt this year. . 27,960 36 " coupons, interest and discount 117,899 09 " rental dividends 101,00100— 219,500 69 Assets at close of the year 104,712 87 Paid net profits for the year, not other-wise applied, to Wil., Col. and Augusta Rail Road Co. lessee 44,112 55 Net sales of 24 bonds 23,632 50— 67,745 05 $820,604 81 J. W THOMPSON, Treasurer. ao 00 'Si -< 00 i5^ ^ 00 oi Statement of Expenditures of the Wilmington Columhia & Augusta . Bail Road, for the Year ending Sej)^ ^oth, 1875. Conducting Transportation. Advertising $ 1,526 05 Agents and Assistants at Stations 18,362 48 Agents, Soliciting 19,238 36 Brakemen 7,119 01 Car Cleaning and Inspecting 2,565 09 Car Furniture and Fixtures 3-12 88 Watehnien 3,759 23 Clerks 12,842 40 Conductors and Baggage Masters, 9,879 36 Dispatchers and Yard Masters 1,250 00 Drawback and Allowance, 9,201 74 Expenses of Stations, except Labor. 595 52 Fuel for Stations 178 50 Fuel for Cars 210 00 Incidentals 1,988 74 Lab(jr at Stations 13,167 74 Light at Stations 1,124 41 Light of Cars 1,321 67 Loss and Damage . . 5,296 95 Mail Service 525 00 Office Furniture 297 91 Personal Injury 1,377 78 Printing and Stationery 7,004 26 Pevenue and Postage Stamps 255 38 Stations, Repairs of, and Pent, 205 72 Superintendence 2,055 28 Stock Killed, 3,841 45 Switchmen 1,756 97 Telegraph Expenses, including Operators 3,526 47 Wrecking 49 40 Total, $130,865 75 Maintenance of Cars. Cars, Passenger and Baggage, Repairs of 19,084 69 Cars, Express, Repairs of 1,754 70 Cars, Freight, Repairs of 14,253 61 Cars, Mail, Repairs of 1,865 65 Car Shops and Sheds, Repairs of 64 69 Fuel for Stoves 236 50 Incidentals 234 57 Oil, Waste and Packing 3,549 06 Superintendence 1,861 62 Tools and Rejiairs of Tools 559 23 Total $43,464 32 32 Motive Power. Engineers and Firemen $29,913 73 Fuel for Locomotives 24,294 52 Fuel for Shops 1,261 90 Incidentals 493 62 Locomotive Engines, repairs of 21,492 53 Oil and Tallow 3,851 18 Patterns and Tools, repairs of 1,974 62 Shops and Engine Houses, repairs of 642 34 Shop Machinery, repairs of 488 61 Superintendence 810 00 Waste and Packing 513 45 Watchmen and Engine Wipers 3,048 48 Water, Wood and Coal Stations, labor at 2,956 33 Water, Wood and Coal Stations, repairs of 232 30 Total $91,973 61 Maintenance of Roadway. Bridges and Trestles, repairs of 17,528 76 Cars, Road, repairs of 284 91 Crossties 15,713 31 Depot Grounds and Buildings, repairs of 1,088 05 Division Houses, repairs of 148 70 Frogs and Switches, repairs of 1,046 79 Incidentals 309 32 Iron Rails 51,132 40 Joints and Chairs 2,582 64 Platforms and Road Crossings, repairs of 25 05 Road Bed, repairs of 4,529 79 Spikes 645 32 Superintendence and Supervisors 2,833 59 Tools and repairs of Tools 758 13 Track, repairs of 34,604 73 Subsistence 12,749 57 Watchmen 1,220 84 Total $147,201 90 General Expenses. Traveling Expenses $1,001 54 Legal Expenses 2,656 40 Miscellaneous Expenses 2,385 69 Printing and Stationery 171 26 Salaries of Officers 13,815 25 Taxes—State, Municipal and County 20,902 35 Total $40,932 49 33 RECAPrruLATioN OF Operating Expenses. Conducting Transportation $130,865 75 Motive Power 91,973 61 Maintenance of Cars 43,464 32 Maintenance of Roadway 147,201 90 General Expenses 40,932 49 Total $454,438 07 34 ll 35 ' Statement of Expenditures of the Wilmington cfc Weldon, Rail Road, for the Year ending Sej)t. 30M, 1875. Conducting Transportation. Advertising $ 1,302 75 Agents and Assistants at Stations 20,511 39 Agents, Soliciting 16,792 SO Brakemen " 5,132 48 Car Cleaning and Inspecting 688 72 Car Furniture and Fixtures 518 79 Car Service 37 50 Clerks 7,5-1:3 37 Conductors and Baggage Masters, 7,735 51 Watchmen 4,U9 03 Drawback and Allowance, 7,988 93 Expense of Stations, except Labor 563 48 Fuel for Stations 140 00 Fuel for Cars 472 50 Incidentals 2,491 -^ 6 Lal)or at Stations • 8,756 79 Light at Stations 970 63 Light for Cars 581 77 Loss and Damage. . . ' 5,540 79 Mail Service 25 00 Office Furniture 40 50 Personal Injury 2,208 40 Printing and Stationery 6,261 45 Revenue and Postage Stamps 218 '78 Stations, Repairs of, and Rent, 1,195 75 Superintendence 1,620 00 Stock Killed, 649 78 Switchmen 727 97 Telegraph Expenses, including Operators 787 34 Wrecking 93 25 Total, $105,836 61 Maintenancp: of Cars. Cars, Passenger and Baggage, Repairs of $ 20,670 33 Cars, Express, Repairs of 1,575 47 Cars, Freight, Repairs of 13,673 55 Cars, Mail, Repairs of ... 1,577 90 Car Shops and Sheds, Repairs of 1,684 15 Fuel for Stoves 8 50 Incidentals 734 67 Oil, Waste and Packing 2,643 95 Superintendence 2,613 20 Tools and Repairs of Tools 756 34 Total $ 45,938 06 36 Motive Power. Engineers and Firemen $ 20,733 14 Fuel for Locomotives 22,714 75 Fuel for Shops 2,584 62 Incidentals .^ 1,350 33 Locomotive Engines, repairs of 22,914 56 Oil and Tallow 3,807 64 Patterns and Tools, repairs of 1,583 76 Shops and Engine Houses, repairs of 1,365 67 Shop Machinery, repairs of 519 82 Superintendence 1,070 00 Waste and Packing 238 41 AVatchmen 815 98 Water, Wood and Coal Stations, labor at 3,395 07 AVater, Wood and Coal Stations, repairs of 1,013 32 Total $ 84,116 07 Maintenance of Roadway. Ballast $ 25 00 Bridges and Trestles, repairs of 12,707 69 Cars, Road, repairs of 597 22 Subsistence 10,280 21 Crossties 18,443 99 Depot Grounds and Buildings, repairs of 871 52 Division Houses, repairs of 16 87 Frogs and Switches, repairs of 1,701 19 Incidentals 102 06 Iron Rails 44,857 83 Joints and Chairs 728 04 Oil, Tallow, Waste, &c 6 20 Platforms and Road Crossings, repairs of 185 23 Road Bed, repairs of 8,865 72 Spikes 1,838 16 Superintendence and Supervisors 1,696 10 Tools and repairs of Tools 2,199 64 Track, repairs of 32,458 93 Watchmen ^ 643 83 Wharves and Landings, repairs of ^. . . 972 45 Total $139,197 88 37 General Expenses. Legal Expenses $ 1,41)2 7(5 Miscellaneous Expenses 2,102 05 Printing:; and Stationery IG (»(> Salaries^ of Officers . . /. 12,170 25 Traveling Expenses 015 40 Total $5^10,007 48 38 00 o pa oH 00 (!) b EH <l R <j « p^ < n o o oH >^9 5 ill- o'" =3 a.~ -^ fe H^ ;> H fa .5 "» ^2 CO IC ^ •£ i3o l^i j^ooiccii-ioswr-icsao-HMcoiCQi-i > s: vj ID ci x> (S to 's oi '-s t~ in in I- o 00 :B OT3 ^ " 2 s ^ Mo. •5 I' |22 CJ =2 OJ ^ « f^ c u i: " ' to ^ a; 'o § '" « §.5-2 2 pli S S W H .5'^ tM ,- oS so ; o I- o o *^ o c 39 Statement showing the Earnings of the Wilmington cfc Weldon for 3fails, die., from Southern Express Compimy, Col- Through Ticket Sales hy Foreign Roads, for WILMINGTON. Month. Railroad at each Agency ; also Receipts from United States lections hy Conductors, and for Special Trains and the Fiscal Year ending September 30M, 1875. CASTLE HAYNE. Statement showing the Earnings of the Wilmington cfc Weldon for Mails d&c, from Southern Exjyress Company^ Col- Through Ticket Sales hy Foreign Roads, fm' Railroad at each Agency / also Iteceipts from United States lections hy Conductors, and for Special Trains and the Fiscal Year ending Septemher y^th, 1875. MAGNOLIA. Statement shoiving the Earnings of the Wilmington ck Weldon for Mails, ike, from Southern Express Company, Col- Through Ticket Sales hy Foreign Roads, for Month. 1874. October Nov'ber. Dec... 1845. Jail Feb.... March . . April . . . May.. . June. . . July.... August. Sept MT. OLIYE. Freight. 332 71 234 71 186 97 138 37 223 03 373 01 295 89 123 65 105 68 104 00 83 27 322 24 Passen trer. 77 95 134 70 138 35 76 95 85 85 41 45 59 55 61 95 39 25 58 15 97 30 105 35 Total 410 m 369 41 325 32 215 32 308 88 414 46 355 44 185 60 144 93 162 15 180 57 427 59 DUDLEY Freight. 97 37 35 09 79 10 31 00 97 57 174 01 156 61 114 18 70 28 42 35 37 75 68 61 Passen ger. 2,523 53 976 80 3,500 33 1,003 92 548 45 1,552 37 44 90 43 35 85 40 62 3( 58 45 39 05 43 55 27 50 32 80 38 20 40 10 32 85 Total. 142 27 78 44 164 50 93 30 156 02 213 06 2(M) 16 141 68 103 08 80 55 77 85 101 46 Month BLACK CREEK. Freight. 1874. Oct . . Nov . . Dec. . 1875. Jan, . . Feb . . March. April . ^lay . .. June . July.. Aug.. Sept. . Passen ger. 106 30 99 64 89 00 125 42 108 38 220 38 226 47 72 34 56 09 60 79 44 92 139 96 1,349 69 368 85 32 10 72 85 59 60 28 95 21 80 20 10 15 05 18 35 25 15 25 80 30 6( 18 50 Total. WILSON. Freight. 138 40 172 49; 148 60 154 37 130 18 240 48 241 52 90 69 81 24 86 59 75 52 158 46 1,718 54 1,874 96 1,283 53 1,459 99 1,520 07 1,684 13 2,874 40 2,006 61 1,078 59 "iiSQ 73 750 20 1,066 02 1,857 61 Passen-ger. 578 40 44^* 27 776 05 411 10 327 90 309 60 342 95 408 50 359 40 352 35 433 30 292 90 Total. 2,453 36 1,732 80 2,236 04 1,931 17 2,012 03 3,184 00 2,349 56 1,487 09 1,226 13 1,102 55 1,499 32 2,150 51 18,322 ,84 5,041 72 23,364 56 Railroad at each Agency j also receipts from United States lections hy Conductors, and for Special Trains and the Fiscal Year ending Sejjtemher 30M, 1875. PIKEYILLE. Statement showing the Earnings of the Wilmington dh Weldon for Mails, cfcc, from Southern Exjpress Company, Col- Through Ticket Sales hy Foreign Roads, for Railroad at each Ayeiicy / also Receipts from United States lections hy Conductors, and for Special Trains and the Fiscal Year endinij September '^oth, 1875. EOCKY MOUNT. 10 Statement shovnng the Earnings of the Wilmington cfc Weldon for Mails, dec, from Southern Express Company, Col- Through Ticket Sales hy Foreigii Roads, for 11 Jlailroad at each Agency ; also Receipts froin United States lections hy Conductors, and for Special Trains and the Fiscal Year ending Septemher '^oth, 1875. 12 Statement showing the Receipts of the Wilmington, Columbia and Passengers; also embracing Receipts from United States, Tickets by other Roads, for the Fiscal 13 Augusta Rail Road Company at each Agency, from Freights and Express, Conductors, Minor Sources, and Sales of Throtigh Year ending September 'dOth. 1875. BRINKLEY'S. 14 Statement showing the Receipts of the Wilmington, Columhia and Passengers; also emhracing Receipts from United States, Tickets by other Roads, for the Fiscal Month. 15 Augusta Rail Road Company at each Agency, from Freights and Express, Conductors, Minor Sources, and Sales of Through Year ending September 30th, 1875. 16 Statement showing the Receipts of the Wilmington, Columbia and Passengers; also emhracing Receij)ts from United States, Tickets by other Roads, for the Fiscal 17 Augusta Rail Road Company at each Agency, from Freights and Express, Conductors, 3Iinor Sources, and Sales of Through Year ending September 30th, 1875. SUMTER. 18 Statement showing the Receipts of the Wilmington, Columhia and Passengers; also embraoing Receipts from United Stntes, Tickets by other Roads, for the Fiscal 19 Augusta Rail Road Company at eacJi Agency, from Freights and Express, Conductors, Minor Sources, and Sales of Through Year ending September SOth, 1875. So. Ca. R. R. Vv "-(- ^95 1 -;*^?-s.-:
Object Description
Description
Title | Annual reports of the president and directors and the general superintendents of the Wilmington, Columbia & Augusta and Wilmington & Weldon R.R. Co.'swith the proceedings of the general meeting of stockholders. |
Creator | Wilmington and Weldon Rail Road. |
Contributor | Wilmington, Columbia and Augusta Railroad Company. |
Date | 1875 |
Subjects |
Wilmington, Columbia and Augusta Railroad Company--Periodicals Wilmington and Weldon Rail Road--Periodicals Railroads--Southern States--Periodicals Cotton Transportation |
Place |
Wilmington, New Hanover County, North Carolina, United States North Carolina, United States |
Time Period |
(1860-1876) Civil War and Reconstruction |
Description | Imprint varies.; Report year ends in November. |
Publisher | Wilmington, N.C. :[The Company],1873-1877(Wilmington, N.C. :Engelhard & Saunders) |
Rights | State Document see http://digital.ncdcr.gov/u?/p249901coll22,63754 |
Physical Characteristics | 5 v. :23 cm. |
Collection | Health Sciences Library. University of North Carolina at Chapel Hill |
Type | text |
Language |
English |
Format |
Annual reports |
Digital Characteristics-A | 3308 KB; 80 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 | Wilmington and Weldon Rail Road..Annual reports of the president and directors and the general superintendent of the Wilmington & Weldon Rail Road Company |
Title Replaces | Wilmington and Weldon Rail Road..Annual reports of the president and directors and the chief engineer and superintendent of the Wilmington & Weldon R.R. Co. with the proceedings of the general meeting of stockholders |
Audience | All |
Pres File Name-M | pubs_edp_annualreportswilmingtonweldon1875.pdf |
Pres Local File Path-M | \Preservation_content\StatePubs\pubs_edp\images_master\ |
Full Text |
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