| Annual Report of the Atlantic & North
Carolina RR |
| as of June 1, 1865 |
| President's Report |
| |
| Report of the President {Delivered
at the Annual Meeting of Stockholders on July 20, 1865} |
| |
| Gentlemen, |
| It is to be regretted that I
am compelled by the extraordinary events which have distinguished the
year, to present to you, without the approval of the Board of
Directors, the eleventh annual Report of this Company, which shows the
operations of the Road during the fiscal year ending May 31st, 1865. |
| From the subjoined statements
of the Treasurer, and of the Superintendent of Government
transportation, the aggregate amount of earnings of the Road for a
little over nine months, and until it was taken possession of by the
United States Army, was $355,998.88, as follows: |
| On Atlantic &
North Carolina Rail Road, 26 Miles, From Kinston to
Goldsboro': |
| Freight Receipts |
$30,531.76 |
|
| Passenger Receipts |
32,519.25 |
|
| Way Travel |
20,220.50 |
$83,271.51 |
| Transportation, Freight and Troops for
Confederate States and State of North Carolina, as per
Treasurer's statement |
$27,171.05 |
|
| Ditto, ditto, as per report Superintendent
Government Transportation |
91,436.56 |
118,607.61 |
| Gross earnings on Atlantic & North Carolina
Rail Road |
|
$201,879.12 |
| On Other Rail Roads |
| Transportation Troops and Freight as per
Treasurer's Report |
$12,821.35 |
|
| Ditto for previous year, as per Treasurer's
Report |
5,879.38 |
|
| Ditto, ditto, as per Report Superintendent
Government Transportation |
104,499.50 |
|
| Transportation private freight on Wilmington
& Weldon Rail Road, as Superintendent Government
Transportation Report |
3,866.74 |
$127,066.97 |
| Miscellaneous
Reports |
| For rent of Warehouse |
$225.00 |
|
| For Coupons Confederate Bonds |
220.00 |
|
| For Stationary Engine sold |
20,000.00 |
|
| For Premium on 21,000 Carteret County Bonds sold |
5,489.79 |
|
| For March Receipts from Agents |
1,118.00 |
27,052.97 |
|
Total Receipts |
|
$355,998.88 |
| The aggregate amount
paid for operating our own, and running our trains on other
Roads for the same time, nine months, was $186,327.39, as
follows: |
| Transportation Expense, including pay of
Conductors, Enginemen, Firemen and purchase of wood, &c. |
$34,063.97 |
|
| Station Expenses and Salaries of Agents |
4,180.00 |
|
| Shop account, including repairs of Engines and
Cars, purchase of stock material, oil and waste, &c. |
85,012.93 |
|
| Road account, including pay of Road and Section
Masters, purchase of new cross ties an supplies |
15,836.27 |
|
| General Administration and mileage to Directors,
and Salaries of Officers |
9,168.80 |
|
| Printing and Advertising, and Office and
Incidental Expenses |
4,118.08 |
|
| Lost and damaged freight |
235.00 |
|
| Negro hire and negro subsistence |
33,712.34 |
186,327.39 |
|
Nett receipts |
|
$169,671.49 |
| By comparing an
average of the receipts per month of this and the last year,
it gives the following result: |
| Gross earnings during the year 1864, 12 months |
$315,787.31 |
|
| Average per month |
26,315.61 |
|
| Gross earnings during the year 1865, 9 months |
355,998.88 |
|
| Average per month |
39,555.43 |
|
| Expenses during the year 1864, 12 months |
100,720.44 |
|
| Average per month |
8,393.37 |
|
| Expenses during the year 1865, 9 months |
186,327.89 |
|
| Average per month |
20,703.09 |
|
| Nett earnings per month, 1865 |
18,852.34 |
|
| Nett earnings per month, 1864 |
17,922.24 |
|
| Increase per month 1865 over 1864 |
930.00 |
|
|
| There has been a steady and
gradual increase of the receipts of you Road since it commenced
operations, as you will learn by reference to the different reports of
the officers from that time. It is proper here to remark, however,
that the salaried officers of the Company have not been credited with
the amounts due them but for the first six months of the fiscal year,
ending May31st, 1865. Hence, a considerable amount in Confederate
money is now due those officers and employees and contractors of the
Company, which should be added to the operating expenses given above.
And on the other hand, the Company purchased,, and still has in its
possession, a lot of car wheels, which cost over $25,000, besides
other material of some value, which will be found in the report of the
Master Machinist, which were not received in time to be used, before
the surrender of the Road. This amount is amply sufficient to offset
the debts referred to, and these figures give you a fair insight into
the receipts and expenses of the Company for the period stated. It
would doubtless have been much more satisfactory to you, as well as to
the Board of Directors, to have had all the proper entries made and
the books posted to the end of the fiscal year. Such was the earnest
desire of myself, but, under the circumstances, it was impracticable,
for various reasons, to have it done. The collapse of the Southern
Confederacy, in April last, suddenly changed the currency in the
State, and upset all arrangements and contracts in relation to wages,
salaries and debts of all sorts. Therefore, from that date, if justice
does not demand if for a month or two earlier, as there was such a
ruinous depreciation in Confederate money for some time preceding the
surrender of the Southern armies, the officers and employees of the
Company, as well as contractors, I presume, ought and will be paid in
the current money of the country. To enable us to come to some
understanding with them in reference to this matter, that the books
might be posted, the President summoned the Directors to meet in
Goldsboro' on the 7th June last, but a quorum failed to attend for
some cause unknown to him. |
|
The Treasurer of the Company, Mr. J. Cicero Justice, had
in the meantime tendered his resignation through me to the Board of
Directors, to take effect on the day of their meeting. It was not
accepted by me, as I had no authority to do so, but as he had made
every necessary preparation, in anticipation of its acceptance, to accompany
his family to the State of Illinois, where he expects hereafter to
reside, and as your Finance Committee had examined the books and
vouchers, I felt, notwithstanding my regret at his leaving his office
at this particular time, that it would be doing him injustice, if not
an injury, to longer oppose it; hence, gave my consent, but with the
understanding that he would return by the Company's paying his
expenses whenever its interest might require his aid in the settlement
of any of their contracts or accounts. The office Mr. Justice has
voluntarily vacated, he has filled for six years, and doubtless he
would have been retained in it if he had so desired, for perhaps an
indefinite period. During his long service, it gives us pleasure to
state, he faithfully performed his duty, has been remarkably correct
in all his transactions, and given entire satisfaction, I believe, to
the Board of Directors. The books and papers of the Treasurer are now
in the temporary possession of Mr. W. H. Harvey, the Superintendent of
Government Transportation of this Company.
|
| In connection with this
subject I would state, that immediately after the surrender of Gen.
Johnston and his army, I, then being in Greensboro', called upon Gov.
Vance, who was also there, to ascertain what disposition to make of
the trains, the books and papers of the Treasurer and Agents, and
other property of the Company which, just previous to the evacuation
of Goldsboro', had been carried up the North Carolina Road for safety,
when the Governor attempted to confer with Gen. Schofield, on the
subject by telegraph, as follows: |
| |
| Greensboro', April 30th, 1865 |
| Maj. Gen. Schofield, Raleigh, N. C. |
| A large number of trains
belonging to the Atlantic & North Carolina Rail Road and other
Roads in the eastern part of the State, have been accumulated near
this place. Can they be permitted to return and resume operations
under their present organization, and, if not, what disposition do you
propose to make of them? |
| Z. B. Vance |
| |
| At that time, as all
dispatches had to be approved by Gen. Johnston before they can be
transmitted, I took the above to that officer myself for his approval,
when he informed me it was not necessary to send it, that he would
probably need these trains for a few days, after which time, by the
terms of the surrender, they would pass into the possession of the
Commander of the United States army in North Carolina. |
| One of our trains, in charge
of Mr. Harvey, on which were the books and papers of the Company, was
then at the Company Shops. It had been employed by the Governor of the
State especially for the removal of the valuable effects of the
Treasury and other Departments of the State, and also of the North
Carolina Banks, or as many of them as desired its use. After the
capitulation of the Southern army, these effects had been temporally deposited
in Greensboro', and the train was now ordered to return, by Gov.
Vance, to that place, agreeably to he directions of General Schofield,
to take the State and Bank property back to the City of Raleigh. I
went down on this train with Mr. Thomas Webb, President of the North
Carolina Rail Road, and, together, we called early after our arrival
on Col. Boyd, the Chief Quartermaster of Gen. Schofield. Not being
able to learn any thing definite from him, respecting our affairs, I
deemed it advisable in the absence of the Board of Directors, to
employ counsel, and after consultation with B. F. Moore, Esq., already
employed by the Company, and the Hon. R. S. Donnell, we addressed the
following communication to the General Commanding: |
| |
| Raleigh, May 4th, 1865 |
| Maj. Gen. Schofield, Commanding, &c.,
N. C. Raleigh |
| |
| Sir, |
| Having been President of the
Atlantic & North Carolina Rail Road Company at the time of the
surrender of Gen. Johnston, and having now in my possession and under
my control a considerable number of engines, coaches, box and flat
cars, I desire to place them under your control. They are, for the
most part, above the city of Raleigh, on the North Carolina Rail Road.
If you shall desire to possess them, as soon as I can be informed of
your pleasure, I will cause them to be brought to such point on the
Rail Road as you shall designate. The books and papers of the Company,
showing the past administration of its affairs, are also in my
possession. They are valuable to me as furnishing the evidence in what
manner I, as the President of the Company, have discharged my duties
and disbursed its funds. They will constitute my only means of defence
against any charge of maladministration, if I should be assailed. I
hope to be allowed to keep these. If, however, you should desire them,
I will deliver them also, trusting that they will be safely kept. |
| Very Respectfully |
| Your obedient servant |
| John D. Whitford |
| |
| In reply, he stated to me in
person, that the Rail Roads in the State were the property of the
United States Government by conquest; nevertheless, he was satisfied
the Government would extend great liberality to the different
corporations, and return their works after a while. But they would be
held, or some of them, ours included, and operated for a season
strictly as Military Roads, and for the convenience of his army. I was
then referred, to Col. Boyd, his Chief Quarter Master, to arrange with
him in regard to the trains and other property of the Company. Without
delay I called upon Col. Boyd, to whom we feel indebted for his
kindness and courtesy, who readily gave permission for me to keep the
books and papers, and such other property of the Company as might not
be required by the military in their operations of the road, and
requested that the engines and cars should be sent to Goldsboro'. This
request was complied with as far as in our power. We had one train of
cars with locomotive then up on the Western North Carolina Rail Road
for safety, which could not return in consequence of the destruction
of some of the bridges during the Stoneman raid through that region of
the State. The locomotive and those of the cars in the train that
escaped destruction are still on that road. You will be informed more
especially of the loss hereafter, in connection with the Master
Machinist's report. |
| ***** Before we left this
section {Goldsboro' to Kinston} we
were replacing the rotten ties and had effected contracts to renew all
that were unsound during the year. The road bed was in excellent order
and the embankments had been but recently widened and raised, the cuts
cleaned out and the ditches deepened, the old timbers over the
culverts had all been replaced with new ones, and the bridges as sound
and substantial as when constructed. The ware houses at Kinston,
Mosley Hall and Goldsboro', were in good repair except the platforms
and steps of the two former required renewing. For that purpose the
lumber had been engaged for a considerable time, but never delivered
in consequence of the distracted state of the country. ***** The ware
house at Carolina City has been taken down and carried off, and not a
vestige of the wharf at that place is left; the side track still
remains and appears now to be of little or no use. On the line of the
Road the bridges have all been destroyed at different times since the
commencement of the war and have been replaced with trestle work,
except the Scott's Creek and Smith Creek bridges, near Newbern, and
the Stony Creek bridge near Goldsboro' -- aggregate length 228 feet.
Those burned were the Bear Creek, Falling Creek, Neuse River, South
West Creek, Core Creek, Bachelor's Creek, Trent River, Slocum's Creek,
and Port River, besides about 75 feet superstructure of slue bridges
-- aggregate length 3321 feet -- all by different commanders of the
armies of the Confederacy, notwithstanding we had strenuously opposed
such unnecessary loss to you, from first to last, and from the
beginning of our difficulties to the termination of the war, we had
earnestly and constantly protested against it. To save if practicable
the two remaining sections of the Neuse River bridge, (we had been
reliably informed that their destruction or safety depended entirely
upon whether the enemy advanced from Newbern or not,) I addressed a
short time before the last Kinston battle, a communication to Gen.
Baker, then commanding North Carolina, on the subject, in which I
state: |
|
"When the army under Gen. Foster was met advancing from Newbern,
by the Gallant Gen. Evans, all of our bridges, and all other property
of the Rail Road at Kinston, were placed under my control to destroy
or not as in my opinion the interest of the service might require.
This confidence would have led to their destruction if there had been
any cause for it. Not being able to see any benefit his army, the
service of the country could derive from the burning of Rail Road
property, or any disadvantage it could be to the enemy at that time, I
had nothing destroyed, and although it passed into the hands of the
enemy it was all returned in a few days after the battle of Kinston to
us, without having received the slightest injury -- hence, our
operations were scarcely interrupted, and it was all, without
presumption, attributable to a little common sense and
discretion." |
| Again: |
| "I
honestly confess I have never seen any injury the United States armies
sustained, or any advantage the Confederate States armies gained by
destroying any of the bridges on the Atlantic & North Carolina
Rail Road. The destruction of the draw in the Trent River Viaduct
would have prevented the pursuit of the enemy of our flying troops, as
effectually as did the total destruction of that grand and beautiful
work." |
| We were
exceedingly solicitous about the safety of the bridge referred to, as
we believed the section next to the high land could be taken down and
thrown over the river, and between the abutments could be filled in
with earth, the track laid thereon and the trains run over it with
perfect security. But if they were lost, we would then have the
insecurity of the trestle work in the Neuse for a considerable time,
as well also as over the river bottom. General Baker promptly referred
this matter to Colonel Whitford, then commanding at Kinston, with
instructions not to burn the bridge for the reason I had suggested.
That officer informed me on the 24th February, 1865, "The bridge
will not be burned. It would be unnecessary, as the enemy have bridges
already built for the Road, and the destruction of a Rail Road bridge
would be no obstacle to him." This assurance made us feel that it
was secure, and we were astonished when we heard it was finally
destroyed, not, however, we are gratified to state, by the orders of
either of the officers alluded to; by whose orders we have been unable
to learn, and we presume it is now immaterial to you. |
| *****
During the period of the war a considerable quantity of the iron was
taken from the Road between Kinston and Newbern, by order of the
Secretary of the Navy of the Confederate States, agreeably to an
arrangement he made with the Governor of North Carolina. Much of this
iron had been previously damaged by the Southern army, but some of it
was not injured. To the perfect rails being carried off we objected,
but the Governor stated he was compelled to make a virtue of
necessity, and give his permission to the Government to take some to
prevent their taking all, without it. The exact number of tons thus
disposed of we are unable to give you. It could at any time be readily
ascertained by having measured the distance relaid with the new iron,
which is a lighter rail than ours, and by subtracting the quantity
sold by the Company in accordance with the resolution of the
Stockholders adopted at your last annual meeting. Under this
resolution I sold to parties as authorized, upwards of two hundred
tons of rails, and the amount received for the same, was paid on the
debt due the State, as you directed, and as you will presently see by
the following report of the Treasurer of the Company. We disposed of
no other iron and none other was carried off the Road, except about
two-thirds of a mile we had at Best Station, which was taken up and
laid on the North Carolina Road, near Boon Hill, by those in charge of
the United States Military Trains, after the evacuation of Goldsboro'. |
| ***** |
| The
Board of Directors have felt since its creation, the deepest
solicitude in reference to the liquidation of the State debt. They
were aware, if allowed to stand without being annually reduced, in a
few years, the interest would so accumulate that you would be unable
to pay it, and the interest of the counties and individual
stockholders in the road would, if the mortgage were foreclosed,
revert to the State; therefore, we have appropriated all the available
means, at all times, in our hands to its payment. And it is gratifying
to lay before you a statement which shows nearly the entire payment of
the accrued interest up to date, and more than one half of the
principal of the debt. This was done too by the legitimate operations
of the Road, with the exception of the payments made from the sales of
iron and the Carteret County Bonds. If it had been possible to collect
from the Confederate Government the amount due to us, as it was
earned, we could and would have paid the whole debt. As it is we are
strongly of the opinion when the affairs of the country get settled,
it would be politic for the Company to borrow as authorized by the
charter, a sum sufficient to pay off this debt, which prohibits you
from declaring dividends until the principal and interest are both
paid, provided it could be done upon such terms as would allow you to
pay annually the interest and only so much of the principal as you
might desire. This arrangement, if the Road is managed with only
ordinary ability, would insure in a short time dividends from your
receipts, and put the stock of the Company up to the value of that of
any Rail Road company in the State. |
| One of
the contracts for the construction of the Road, was not settled and
closed prior to the war, and in consequence of a disagreement between
the Company and contractor, suit was instituted for a settlement. We
believe this occurred more in anticipation of what would be claimed,
than the real claims of both parties, who are now ready, we think, to
abide by any fair and equitable adjustment for their interest. We hope
therefore that it will be settled speedily and for the welfare of all
concerned. |
| *****
Without wishing to be invidious, we must mention the conduct of
another officer of the Company, which we think merits, and should
receive your approbation. We allude to Mr. H. W. High, one of your
Conductors. His train was sent by the military to Tarboro' to take a
load of supplies to Salisbury, and upon reaching Raleigh, just at the
moment of its evacuation by General Johnston, his engineer abandoned
him. He at once took charge of the locomotive and run the train to
Salisbury, and continued to act both as Engineer and Conductor of it,
until its return to Goldsboro'. We say this is a case of merit which
should be rewarded; for whatever the opinion may be about the cause he
was engaged in, he showed, as was his duty, a commendable spirit in
saving the train from every hazard. It would be improper to omit to
state, that we have been extremely fortunate in the selection of all
of our officers and employees. They have, as a general rule,
manifested a strong personal interest in your Road. Messrs. Hancock
and Thomas, Conductors; Metts, Road Master; Powell, Best and Wadsworth
Station Agents, W. C. Whitford, Book Keeper, and Barnum and Howell,
Section Masters, have been active and energetic in behalf of your
interest. |
| I have
already mentioned the good care taken of your Locomotives and Cars,
under very disadvantageous circumstances, by Mr. Clayton, Master
Machinist, and his Assistants, Messrs. Griswold, Swann, Lawrence and
Perry, Locomotive Engineers; Honeycutt, Bryan and Cuthbert,
Machinists; Dill, Blacksmith, Becton, Assistant; Ezzell, Lane, Taylor,
Stanley and Keaton, Carpenters; and Hunter, Painter. |
| Since
the opening of the Road, or from the first day the first train ran
upon it, which was on the 15th day of March, 1865, there has been not
a solitary collision, and not a passenger, either white or black,
killed or seriously injured on any of our trains, up to the time of
the surrender to the United States Government. This may be
attributable to a straight Road, but there have been collisions on
other Roads with not more curves than ours, when taken throughout the
line from Goldsboro' to Morehead City, though, for three years, we
have run all kinds of trains, sometimes as many as twenty in
twenty-four hours from Goldsboro' to Kinston, without the occurrence
of an accident involving either life or property. Moreover, for one
year before the war we operated the whole Road, and ran at an average
speed of twenty-seven miles an hour from Goldsboro' to Morehead City
with the passenger trains, and eighteen miles with the freight trains,
without having to record an accident on the main line of the Road, and
without losing a mail connection, and all this was done for a sum
comparatively low, as you will see by instituting a comparison of the
expenses of this with other Rail Roads in the South. We have seen,
too, our trains surrounded by hostile troops, and under the very fire
of battle and then had them brought off in safety. We have further
seen them run on other Roads, conveying thousands of beings and tons
of freight in every direction with unusual success. I therefore repeat
that we are under great obligations to our officers and employees,
some of whom have been in the service of the Road for many years, for
their sleepless vigilance and constant efforts to serve you faithfully
and honestly. |
| And
now, gentlemen, as my last official act as President and Director of
your Company, it becomes my melancholy duty to inform you that be a
most distressing and unexpected accident, we were deprived early in
the year of the aid and services of one of our members, whose loss we
all deeply deplored. Year before last, we had to record the death of
Geo. S. Stevenson, Esq., one of the first and most energetic Directors
of the Company. Last year another of our Directors, the brave and
generous Col. Peter G. Evans, was taken from us. And this year, still
another is gone, John H. Peebles, Esq., whose urbanity and gentlemanly
bearing, systematic habits of business and steady adherence to
principle, was well known to you, and his loss caused a void in the
Board of Directors that can not be easily filled. Thus, we see,
passeth away man, even when in the enjoyment of health. Does it no,
then, call upon us all, the strong as well as the weak, with the
solemn warning "be ye also ready, for ye know not the day nor the
hour when the Son of Man cometh." |
| Respectfully
submitted, |
| John H. Whitford
{printed incorrectly -- should be John D.
Whitford} |
| President |
|