Annual report of the Raleigh and Gaston Rail Road Company

              PROCEEDINGS
STOCKHOLDERS
RALEIGH^ GASTON R.R. CO.,
AT THEIR
THIRTY-NINTH ANNUAL MEETING,
HELD AT
Raleigh, November 14.TH, 1889.
ALSO ANNUAL REPORTS OF
President, General Superintendent and Treasurer.
RALEIGH:
E. M. Uzzell, Steam Printer and Binder.
18S9.
DIRECTORS AND OFFICERS.
R. C. HOFFMAN,
W. J. HAWKINS,
JOS. B. BATCHELOR,
W. W. CHAMBERLAINE,
PAUL C. CAMERON,
R. S. TUCKER.
JOHN M. ROBINSON, President,
R. C. HOFFMAN, Vice-President.
JOHN C. WINDER, General Superintendent.
WILLIAM SMITH, Assistant Superintendent.
WILLIAM W. VASS, Treasurer.
J. B. MARTIN, Auditor.
PROCEEDINGS.
The Stockholders of the Raleigh & Gastou Railroad Company
met in annual session at the office of the company in Raleigh,
on Thursday, the 14th of November, 1889, commencing at 11
o'clock A. M.
On motion of Mr. J. B. Batchelor, Dr. W. J. Hawkins
was appointed Chairman, and on further motion, W. W. Vass
and J. M. Sherwood were selected as Secretaries.
Mr. A. M. McPheeters, Chairman of the Committee on
Stock and Proxies, reported to the meeting as follows:
Whole Capital Stock of the Company, 15,000 shares.
Shares represented in the meeting in person, . . 3,147
Shares represented in the meeting by proxy, . . 7,422
Total shares represented, ..... 10,569
On motion, the report was received and adopted,
And the Chairman announced that the meeting was ready for
the transaction of business.
In the absence of Mr. Jno. M. Robinson, President of the
Company, Mr. R. C. Hoffman, Vice-President, submitted and
read the annual report of the President and Board of Directors;
also the report of the General Superintendent, and statements of
the Treasurer.
On motion of Col. Jno. W. Hinsdale, the report of the
President and Bnard of Directors and accompanying reports
were accepted and adopted.
On motion of Major R. S. Tucker, the meeting bal lotted
for a President for the next ensuing year, resulting in the unani-mous
re-election of Jno. M. Robinson, Esq., of Baltimore.
On further motion, the Stockholders went into the election of
six Directors, J. B. Batchelor and J. W. Hinsdale acting
4 PROCEEDINGS.
as tellers, who subsequently reported the election of the follow-ing
named gentlemen :
R. C. Hoffman received .... 10,569 votes
W. W. Chamberlaine received . . . 10,569
Dr. W. J. Hawkins received . . . 10,569
P. C. Cameron received .... 10,569
Jos. B. Batchelor received . . . 10,569
R. S. Tucker received 10,569
On motion of Mr. R. C. Hoffman, A. M. McPheeters
and W. W. Vass were continued as Committee of Stock and
Proxies.
On motion of Col. Jno. W. Hinsdale, the meeting adjourned
sine die.
(Signed) W. J. HAWKINS, Chairman.
W. W. Vass, \ . .
T , T c '
> secretaries.
J. M. Sherwood, j
PRESIDENT'S REPORT.
Office of the Raleigh & Gaston R. R. Co.,
Raleigh, N. C, November 14, 1889.
To the Stockholders of the Raleigh & Gaston R. R. Co.:
For the fiscal year ending with June 30, 1889, the Board of
Directors submit the following report:
The Company's receipts have been :
From Passengers, $ 79,022 95
" Mail, . . . . . . . 9,971 28
" Express, 4,258 20
" Baggage, 249 88
" Sleeping-car, 1,149 24
" Freight, . . . . 328,678 97
" Car Mileage, .57,569 03
" Telegraph, 1,033 77
" Louisburg R. R., . . . . 8,414 51
Making gross receipts from transportation, $490,347 83
Operating expenses, including taxes, have been 276,543 60
Leaving net revenue from transportation, . $213,804 23
The company has also received :
Rent of compress, $ 504 90
Interest on investments, 37,290 50
Interest on bills and ac-counts
receivable, 6,577 32 44,372 72
Making a total net revenue of, $258,176 95
There has been also re-ceived
from sale of
cars $32,800, less cost
of new cars $19,179.16, $13,620 84
PRESIDENT S REPORT.
From premium on bonds
sold, . . . 2,050 00'
From real estate sold, 570 00 16,240 84
Making total available receipts
from all sources, . $274,417 79
From this has been paid
interest on bonded debt, $80,000 00
And for dividends, . 75,000 00 155,000 00
Leaving, . . . $119,417 79
Of this the company has spent
:
For steel rails, . $55,000 00
Rock ballasting, . . 12,330 34
Engines, . . . 16,276 00
Buildings, ... 564 92 $ 84,171 26
The General Manager reports that eighty-one and one-fifth
miles of sixty-pound steel rails have replaced the fifty-pound
rails by the end of the fiscal year. During the year stone bal-lasting
was discontinued, the roadway being in excellent condi-tion;
but this will be hereafter resumed. For detailed infor-mation,
as to the condition of the company's property, stock-holders
are referred to the report of the General Manager here-with
submitted.
In conformity with the resolution of stockholders, passed in
general meeting called for that purpose, the Raleigh & Gaston
Railroad Company has united with the Seaboard & Roanoke
Railroad Company in a joint lease in perpetuity of the Georgia,
Carolina and Northern Railroad, and in conformity with the
terms of said lease has jointly with the Seaboard & Roanoke
Railroad Company indorsed both as to principal and interest
the first mortgage bonds of the Georgia, Carolina and Northern
Railway Company issued for the amount of $5,360,000, and
bearing interest at the rate of five per centum per annum. These
bonds have been advantageously sold, and the Georgia, Carolina
president's report. 7
& Northern Railway Company has actively resumed the con-struction
of its road, and it is being pushed to completion
with the greatest dispatch consistent with a due regard for
economy.
The Durham & Northern Railway, in which this company
holds so large and a controlling interest, has been opened to
traffic and has already become a valuable feeder.
The Board submit with this report the statement of the
Treasurer.
By order of the Board of Directors
:
JNO. M. ROBINSON,
President.
GENERAL SUPERINTENDENT'S REPORT.
RALEIGH & GASTON RAILROAD CO.,
General Superintendent's Offick,
Raleigh, N. O, August 30, 1889.
Jno. M. Robinson, Esq., President:
Sir:—The following report of the operations of this road for
the fiscal year ending June 30, 1889, is respectfully submitted.
The fiscal year having been changed to June 30, instead of Sep-tember
30, comparison with the previous year cannot well be
made except as to receipts and expenditures, which are given for
twelve mouths.
The receipts have been as follows:
From Freights, . . $328,678 97
Passengers, . . 79,022 95
U. S. Mail, . . 9,971 28
Express, . . . 4,258 20
Extra Baggage and Storage, 249 88
Sleeper, .
Car Mileage,
Telegraph,
Louisburg Railroad,
1,149 24
57,569 03
1,033 77
8,414 51
-$ 490,347 83
Expenses, including Louisburg Railroad
Maintenance of Way and Struct-ures,
.... $ 76,710 91
Maintenance of Equipment, 50,911 67
Conducting Transportation, 114,731 29
General Expenses, . . 33,768 34
-$ 276,122 21
GENERAL SUPERINTENDENT'S REPORT. 9
In addition to the above ordinary expenses the following,
which may be considered extraordinary expenses, have been in-curred
:
Steel rail, .... $55,000 00
Ballasting road, . . 12,330 34
Engine-house, Weldon, . 89 74
House for enginemen at Weldon, 37 65
New buildings, . . 413 17
Wood-shed and dump, Warren
Plains, .... 24 36
New locomotives purchased, 16,276 00
4 84,171 26
You will observe that the expenses have overrun those of last
year. In conducting transportation we have usually been able
to take off a freight train: this year we have not been able to
do so. Maintenance of Way account has been unusually heavy,
owing to the fact that the 50-pound rail has been taken up and
60-pound rail substituted.
Since September 30th, 1888, 36.7 miles of 60-pound steel
rail has been laid, which gives 81.2 miles of 60-pound steel rail
to June 30th, 1889; and the laying of 60-pound rail will con-tinue
until the entire road is laid, except between Gaston Station
and the summit of Gaston grade, about three miles, which is
laid with 58-pouud rail, and the main line in yard at Raleigh,
which is laid with 56-pouud rail. The old frogs and switches
have been replaced by new spring frogs and split safety switches.
During the year there has been put in 1,500 feet of side track.
A track scale, rendered necessary by the increased shipments of
stone from the quarries at that place, has been put in at Grey-stone.
At Weldon there has been a house built for use of fire-men
and trainmen, also a new water tank. At Summit a wood-dump
has been erected, and at Warren Plains a water-tank and
wood-dump. By means of the dumps wood can be delivered to
10 GENERAL SUPERINTENDENT'S REPORT.
an engine in less than a minute, whereas, formerly, it took about
eight minutes. At Yonngville a cotton platform has been built.
Semaphores have been placed at all telegraph stations and mail
cranes at all flag stations. An 8-inch Rider pump has been put
up at Greytone tank, the old 6-inch pump being too small.
The old dry box culverts which were built when the road
was built have had a severe test this year, the rains being heavier,
probably, than ever before, and several of them have given way
and others show signs of failure: as they need repairs they are
laid in cement, and in some cases enlarged. The passenger
houses are in thorough repair, and the warehouses, generally, in
good condition: a few of them will require to be re-shingled.
The ditching has been somewhat neglected, owing to the fact
that the force, together with material train, has been occupied
laying rail. Cross-ties on hand and received during year, 50,-
281; put in track to June 30th, 21,398; on hand June 30th,
23,878—many of which will be put in track before the autumn;
3,151 ties were put in tracks at quarries. The ballasting was
suspended by your order. I hope it will not be long before you
will consent to have it resumed. When the entire road is bal-lasted,
as begun, the road will probably be the best in the South,
as it is free from trestle, and all the work of the most permanent
character.
On February 28th, 1889, our passenger train got off the
track at a misplaced switch near the yard limit, at Raleigh,
seriously damaging engine and several freight cars on a side
track. Again on June 21st, 1889, near the same place, the pas-senger
train ran into a side track, the switch having been acci-dentally
left wrong by a section hand. The engine was some-what
damaged and the box-cars on side track damaged to a
very considerable extent.
MACHINERY.
We have 29 locomotives, two of which are switching engines,
two on material trains and one on the Louisburg R. R., leaving 24
GENERAL SUPERINTENDENT'S REPORT. 11
engines for transportation on this road, as well as on the
Raleigh & Augusta Air-Line R. R. Of these one is over thirty
years old; 3 about twenty years old; 3 seventeen years old ; all
being small, ranging from 13 x 24-inch to 15 x 24-inch cylin-ders.
The number of engines has been reduced by the sale of
two to the Durham & Northern Railway Co. and two to the
Raleigh & Augusta Air-Line R. R. Co. I therefore earnestly
recommend that two 18 x 24-inch engines be purchased at once
for this road. During the nine months since the last report
there have been twelve engines repaired and two repaired for
the G., C. & N. Railway. We have now under construction one
16x24 engine. This will be finish'ed early in the ensuing
year. Three new locomotives, 18x24, were purchased during
the year from the Baldwin Locomotive Works. The tools in
the machine shop have not been added to, except some small
ones made in our shops. There has been purchased for the car
shops a double surfacer and matching-machine, made by Good ell
& Waters, the cost of which was $911.15. This enables us to
do much quicker work than before. Our shops now do work
for the Durham & Northern and Georgia, Carolina & Northern
Railways and the Carolina Central R. R. There are two first-class
coaches in course of construction in our shops, which will
soon be completed. Have built 22 box cars, some of which are
renewals; 15 of which were built for the Georgia, Carolina &
Northern Railway Co., of 50,000 pounds capacity, equipped with
Janney couplers and Westinghouse air-brakes; and we have 30
yet to build for the Gv C. & N. Railway. These cars are built
according to the standard which was approved of by you. There
have been turned out of the shops 8 pole cars; 12 warehouse
trucks; repaired 4 passenger cars, one of which was for the
C. C. R. R., and oue baggage car. There was built at shop one
combination passenger and baggage car for the Durham &
Northern Railway Co., and a coach was sold to that road as sec-ond-
haud. There was repaired also 217 box cars and 130 flat cars.
The repairs to foreign cars have been unusually heavy. The
cars formerly leased to the Raleigh & Augusta Air-Line R. R.
12 GENERAL SUPERINTENDENT S REPORT.
Co. have been sold to that company, being 50 box cars and 50
flat cars.. ^
Following is a list of locomotives owned by the company,
showing size and condition of each :
Our equipment consists of:
29 Locomotives.
1 Officers' Car.
1 Pay Car.
8 first-class Coaches.
14 second-class Coaches.
4 Combination Sleeping aud Day Cars.
2 Passenger and Baggage Cars.
GENERAL SUPERINTENDENT'S REPORT. 13
4 Baggage Cars.
310 Box Cars.
302 Flat Cars.
17 Shanties.
The Cottou Compress at Charlotte was purchased by the Caro-lina
Central Railroad Co. and the Richmond and Danville Rail-road
Co. jointly, each road owning one-half; and the interest of
the Carolina Central Railroad was divided between the Carolina
Central, Raleigh and Augusta Air-Line, Raleigh and Gaston
and Seaboard and Roanoke Railroad Companies, one-fourth
each; or $4,523.12 for each company.
Casualties: Train No. 52 is supposed to have killed a negro
man February 19, 1389, near Warren Plains, while trying to
steal a ride. Train No. 60, May 20, 1889, knocked a deaf mute
from the track, three miles south of Franklinton. Medical
attention was promptly given, and the man has since recovered.
In neither case was the company responsible.
Respectfully,
JNO. C. WINDER,
General Manager.
14 TREASURERS REPORT.
P
<
oa
<
Z ©"
O oo
H CO
CO I—
I
<CoCO
a ^
S 2o
=
fc
-1 «• z
<; as s
H
CO ft
* tf
ZKSK
co
«
on
CM —i 00 © ©
(M h- iO •**
ClT© Tji rt
—i GO
SO o
Tt^Co" © cm
eo
© CO T
t-Ti—Too"
© © t r^ ©
»c ^ c ^ io
O SO O —i
"* ©
GO ©
O 35 © t-
00 i—i
© ©
<M r-- © 1C
CM © CO
— _
O a;
CO £
-I .
* « : —
2i O °
a"73 c '
w > ~ c ea ;
*- a> — -
1- — ft'jv-'
S£ ^ t£ a: I c ^ C j^ C SC U cj M 0/ "ti 0/ C S£
£ =J
:j< * "-c
c 0J - _ o c
c 5 o> S 0> as
w
:£ o> ~ ^ ^ -*- *- "C^ ~ ;/; cv
H£ rs -
C O C aj es o> —
"7* 5°
5 5^ S : u
- h oj
a;
s^Gas^e:
P3
f G | Q 2 G
tf
sO
H
ft
H
fa
z
©© © © CO ©
©© 1— © © CM © "3-1 ©
©~ \iS
GO C--
CM © i^ © "S*1 iO
2 "d .- T3 — T3 S >,^5 '-" c
u * .£- £
es ° a.
09
7.
g- B 0) O ~ P
CQ X o
a
, a* X >
t_ 01 CO ^
O ~£ • 30 C c i C »!/ S
- j ai c;
I g"|-s
x > — —
6
TREASURER S REPORT. 15
C
O
o
O o
^ i
fa 5
fa 2 W o
fa h1
I—
I
r <
fa 23
H H
^( <
fa 3
S =3
fa M
fa
o
^ w
Hi H «
CZ2
-.
a
XH
6i
C
iff iO~
co co
S « a; S
D bcs ST
^ a *
1 1-s.S
O M
X E
Q £
O ?D
O CM
rOH O>D
L^ OS
=£ B
Si c ,-—•*- ^
oq
i s A
oti
3
5 u
«
a.
a>
33
0)
0) M S —
~
5 5 y
:
1 S B c
u
1
'
-I
X .£
£ 0) •' B
"3 • re
01 *" :
^ 03 • ^ •-H u
E O c
6
§* ufl/ -aj o,
•^ *- S Sf
S
u
in
B
c
c
K.2
e a
c c to c -~~c OS'S .2
be
O =
*• is '3 "
a~> 2B *B. &^
Q 5 £_§
»m iS. <O= Bc
1- ^
Q
x CO —
o
16 treasurer's report.
INCOME ACCOUNT
Of the Raleigh & Gaston Railroad Company for the Fiscal
Year Ending June 30, 1889.
Gross earnings from operation $490,347 83
Less operating and extraordinary expenses 360,293 47
Income from operation $130,054 36
Interest on bonds owned. 28,150 50
Dividends on stock owned 9,140 00
Miscellaneous income 23,323 06
Income from other sources 60,613 56
Total income $190,667 92
Deductions from income
—
Interest on funded debt accrued 80,000 00
Taxes 421 39
Total deduction from income 80,421 39
§110,246 53
Dividends on common stock.... 75,000 00
Surplus from operations of year ending June 30th,
1889 35,246 53
Surplus June 30th, 1888 1,435,543 81
Surplus on June 30th, 1889 $1,470,790 34
treasurer's report. 17
OPERATING EXPENSES
Of the Raleigh & Gaston Railroad Company for the Fiscal
Year Ending June 30, 1889.
Maintenance of Way and Structures
—
Repairs of roadway. $45,985 41
Renewals of rails 4,3b7 85
Renewals of ties 14,568 02
Repairs of bridges and culverts 469 34
Repairs of buildings 10,289 93
Other expenses 1,030 36
Total $ 76,710 91
Maintenance of Equipment
—
Repairs and renewals of locomotives 16,318 03
Repairs and renewals of passenger cars 9,589 49
Repairs and renewals of freight cars 11,766 86
Shop machinery, tools, etc 4,092 00
Other expenses .- 9,145 29
Total 50,911 67
Conducting Transportation—
Wages of enginemen, firemen and roundhouse-men
38,400 45
Fuel for locomotives 25,450 70
Water-supply for locomotives 1,726 17
All other supplies for locomotives 2,548 96
Wages of other trainmen. 13,914 06
All other train supplies 3,939 16
Wages of switchmen, flagmen and watchmen... 17 50
Expense of telegraph, including train dispatch-ers
and operators 1,065 00
Wages of station agents, clerks and laborers 21,465 75
Station supplies 1,899 14
Loss and damage 368 05
Injuries to persons 1,983 71
Other expenses 1,952 64
Total 114,731 29
Amount carried forward $242,353 87
treasurer's report.
Operating Expenses—Continued.
Amount thought forward $242,353 87
General Expenses
—
Salaries of officers $14,006 00
Salaries of clerks 5,319 00
General office expenses and supplies 557 48
Advertising 50 93
Insurance 4,055 28
Expense of traffic associations 3,549 74
Rentals not otherwise provided for 178 93
Legal expenses 778 43
Stationery ami printing... 2,407 86
Other general expenses 2,864 69
Total 33,768 34
Total operating expenses $276,122 21
Extraordinary Expenses for the Year
—
Steel rails 55,000 00
Ballasting road 12,330 34
New buildings 564 92
New locomotives 16,276 00
Total 84,171 26
Total operating and extraordinary ex-penses
$360,293 47