| Annual Report of the King's Mountain RR |
| as of January 1, 1864, |
| President's Report |
| |
| To the Stockholders of the King's
Mountain Railroad Company: |
| |
| Gentlemen, |
| |
| Your President and Directors
submit their annual report, with the accompanying exhibits of the
Treasurer, showing the transactions of the company, for the year,
commencing Jany 1st 1863 and ending Dec 31st 1863. |
| Cash in hand January 1st 1863 |
|
|
$7,293 |
66 |
| Cash receipts from all sources during the year
1863 |
|
|
36,225 |
11 |
|
Total Cash |
|
|
$43,518 |
77 |
| Paid Charlotte & S. C. Rail Road |
$8,033 |
30 |
|
|
| Paid in Dividend |
13,675 |
50 |
|
|
| Paid on Debts of company, owing in 1st Jany 1863 |
1,581 |
19 |
|
|
| Paid on expenses account of 1863 |
9,962 |
92 |
|
|
| Cash in Treasury |
10,265 |
86 |
|
|
|
|
|
$43,518 |
77 |
| |
|
|
|
|
| Gross income for the year 1863 |
|
|
$27,613 |
71 |
| Freight |
$7,907 |
06 |
|
|
| Passengers |
14,801 |
05 |
|
|
| Transportation of troops & stores |
3,012 |
20 |
|
|
|
"
" mail |
1175 |
00 |
|
|
| Other sources |
718 |
40 |
|
|
|
|
|
$27,613 |
71 |
| |
|
|
|
|
| Expenses of operating road for 1863 |
|
|
9,962 |
92 |
| Leaving a Net income |
|
|
$17,654 |
79 |
| |
|
|
|
|
| Out of which two dividends were declared, the one
in July 1863 & the other in January 1864 the first of 2 1/2
pr ct & the second of 4 pr ct amounting to |
|
|
$13,208 |
00 |
|
Leaving a net surplus of |
|
|
$4,442 |
79 |
| Assets in Treasury, consisting of Greenville Rail
Road Bonds, arrears of mail pay, Notes, accounts on freight
ledger, shop books &c |
$5,947 |
68 |
|
|
| Net surplus added to |
4,442 |
79 |
|
|
| Leaving a surplus of |
|
|
$10,391 |
47 |
|
| |
| The Road |
| The Road has been much
improved during the past year & might have been in still better
condition, but for the great difficulty in procuring cross ties, which
was owing to the scarcity of labor. During the past year between
fifteen hundred and two thousand new ties were laid down on the track,
and arrangements have been made for laying down several thousand
during the present year. It is a matter of congratulation to the
company that but two slight accidents have occurred on the Road during
the past year and the train on this Road has failed to connect only
twice with the train on the Charlotte & S. C. Rail Road during
that time. Eight effective hands have been procured, which are amply
sufficient to make the necessary repairs on the track. |
|
Buildings
|
|
Since the time appointed for your last meeting, the Well
House at Yorkville has been thoroughly repaired & the Pump is now
in fine working order. New and substantial framework has been put up
at one side of the pump house and the old tanks moved away, and
everything about the Well House is in perfect order.
|
|
Turn Table
|
|
During the past year the old Turn Table at Chesterville
was taken down and a new one put up, which is in perfect working
order.
|
|
Locomotives
|
|
Both of your engines need repairs, the William Wright has
been sent to Columbia for repairs and will in a short time be put in
fine running order in the Charlotte & S. C. Rail Road shops, an
arrangement to that effect having been made with their President &
Superintendent of that Company. As soon as the Wright is put in good
running order, the Kings Mountain will be sent down for repairs, whose
Boiler or ??? flue shed has been damaged by the negligence or
ignorance of an engineer, I don't know which, who professed to
understand his business thoroughly when he commenced driving her.
|
|
Rolling Stock
|
|
All of your Box and platform cars, with the exception of
one platform car, have been put in good running order, lumber for that
purpose having been purchased during the past year.
|
|
Business of the Company
|
|
Passenger travel over the Road during the past year was
on an average, being good, but a large part of these were carried at
half price. In conclusion I have the satisfaction of reporting that
the indebtedness of the company is small.
|
|
Respectfully submitted
|
|
|
|
March 25th 1864
|
|