| Annual Report of the Macon & Western RR |
| as of December 1, 1862, |
| President's Report |
| |
| President's Report |
| |
| Macon & Western Rail Road Company |
| Macon, Ga., December 1st, 1862 |
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| To the Stockholders: |
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|
Gentlemen,
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| It again becomes my duty to
present to you the following statement of the business of the Company,
for the twelve months ending yesterday, November 30th: |
| The gross income from Freights, Passengers,
Mails and interest, amounts to |
|
$410,848.20 |
| Expenses |
|
207,041.95 |
| Net Income |
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$203,806.25 |
| Add balance from last Report |
|
66,821.52 |
| " Amount received
for Engine Gov. Crawford |
|
3,000.00 |
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"
"
" "
Old Iron sold |
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9,206.07 |
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"
"
"
" Lot No. 3, square 13, city of Macon |
|
500.00 |
| Total |
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$283,333.84 |
| From this Fund has been paid: |
|
|
| Dividends Nos. 34 and 35 |
|
82,500.00 |
| Assets |
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$200,833.84 |
| Which are composed of |
|
|
| United States post Office Department |
3,035.28 |
|
| Steamship Mississippi |
5,150.00 |
|
| C. S. Bonds (received for Transportation) |
85,000.00 |
|
| Baring, Brothers & Co., London |
6,900.00 |
|
| Negro Property |
31,739.35 |
|
| Upson County Rail Road Stock |
19,270.00 |
|
| Cash |
49,739.21 |
$200,833.84 |
|
|
The Board of Directors authorized me early in the year to
purchase such amounts of the Stock of the Upson County Rail Road, as
might be offered for sale. I have accordingly purchased an amount of
$19,270.00, as shown in the foregoing statement. This Road (formerly
Thomaston & Barnesville) was re-organised in May 1860, with a
Capital of $40,000.00, representing 17 miles of Road, one Engine and
one Passenger Car. Its Charter from the Legislature authorises its
sale to any other incorporated Rail Road Company of the State.
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I have also, in view of the increasing scarcity of labor,
with the approval of the Board, purchases 31 Negroes at a cost of
$31,739.35, to be substituted for the subordinate employees of
the Road, not allowed to be retained by the Conscript Law.
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By order of the Court, I have returned a list of the
Stockholders of the Road to the Receiver of this District who has
condemned the amount of 4238 1/2 shares, as shown in table 19 of this
Report (published in accordance with the resolutions at your last
annual meeting,( which is correct for the Stock registered at
Charleston and Macon, but may not be for that at New York, the last
list we have dating June, 1861.
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The occupation for military purposes of the Fair Ground,
situated in the rear of the repair shops, rendered it expedient, in
the opinion of the Board, to carry out the original plan by enclosing
the lot with a Brick wall, which with some additional buildings,
required for store-houses, repairs, &c., has been completed and
put in use.
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In the Superintendent's Report, hereto annexed, these
matters are shown in detail.
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The requisitions of the Government for transportation the
past year, have been fully met and the business transacted without
delay or accident. The present condition of our Cars and Engines,
renders us much more liable to these last than ever before, since my
connection with the Company. It is hoped however, if the Road is
allowed to be managed without interference from Government officials,
that its operations will be as successful as heretofore.
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I give with much pleasure my personal testimony to the
zeal and fidelity shown by the employees of the Road under the
existing pressure of transportation.
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your Officers and Agents continue faithful in the
discharge of their several duties.
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Yours respectfully,
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Isaac Scott
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President
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