| Annual Report of the North Carolina RR |
| as of June 1, 1862, |
| President's Report |
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| President's Report |
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| President's Office N. C. R. R. |
| July 2nd, 1862 |
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To the Board of Directors:
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Gentlemen:
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I submit to you the following report of the operations of
the Road for the year ending May 31st, 1862:
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| Earnings From All
Sources |
| Receipts from Through Passengers |
$25,856.91 |
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| Way Passengers |
239,749.39 |
$265,606.30 |
| Freight |
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148,863.00 |
| Mails |
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26,375.00 |
| Southern Express Company |
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23,765.46 |
| Incid'tl -- Rent 4,210.45, Shops
3,811.60 |
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8,022.05 |
| Confederate States |
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96,033.65 |
| Due from C. S. and State of N. C. |
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222,398.22 |
| Total Earnings |
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$791,063.68 |
| Disbursements |
| Salaries, Officers & Agents |
$26,605.31 |
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| Transportation |
117,651.95 |
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| Machinery |
37,837.42 |
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| Road |
157,116.40 |
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| Miscellaneous |
34,309.08 |
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| Bills Payable |
41,900.00 |
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| Sinking Fund |
25,000.00 |
$440,420.16 |
| Nett Earnings |
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$350,643.52 |
| The increase of gross earnings over the previous
year is |
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$370,401.79 |
| And of nett profit, is |
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269,353.93 |
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This statement embraces not only the cost of working the
Road for the last year, but also the very large sum of $90,008.69 for
payment of debts contracted prior to the commencement of the fiscal
year. Also the sum of $6,363.88 for new cars built in the shops;
$28,000.00 for payment of Coupons on funded debt, and $25,000.00 for
the Sinking Fund.
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The Superintendent has carefully compiled a statement of
the actual expense of working the road from the 1st of June, 1861, to
the 1st of June, 1862, as follows:
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| For repairs of Road |
$18,925.31 |
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"
" " Bridges |
375.00 |
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"
" " Buildings
& Water Stations |
2,897.55 |
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"
" " Engines |
11,421.28 |
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"
" " Cars |
9,841.54 |
| Oil and Tallow |
10,027.29 |
| Waste |
184.42 |
| Wood |
19,751.39 |
| Conductors and Train hands |
9,097.90 |
| Engineers |
14,958.87 |
| Firemen |
2,125.02 |
| Cross Ties |
37,317.51 |
| Salaries of Officers |
13,275.00 |
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"
Station Agents |
12,850.00 |
| Subsistence |
22,655.68 |
| Clothing |
3,501.15 |
| Hand hire, 7 months, '61, $23,962.38 |
8,665.84 |
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" "
5
"
'62, 9,959.55 |
33,921.93 |
| Medical |
768.79 |
| Loss and Damage |
1,102.38 |
| Station expense and Printing |
8,665.84 |
| Coal |
1,587.30 |
| Telegraph |
1,233.00 |
| Bridge Watchmen |
3,020.39 |
| Rent of Engines and Cars |
1,080.00 |
| Miscellaneous |
65.90 |
| Stock killed |
1,308.73 |
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$241,959.17 |
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The cost of working the Road has been about thirty per
cent. of the whole earnings.
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The Treasurer's exhibit sets forth the disbursements,
specifying what has been paid for current expenses of the year, as
well as the payment of old debts. And with the exception of an account
made for axles, iron and other supplies, it shows the whole expense
account for the year. The firm who supplied us, at their own request
have credit for the amount of their bill $2,515.20, but they were
notified that we had the money and desired to pay, therefore we would
not be chargeable with interest.
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We have little or no floating debt; all of our purchases
have been for cash. In the amount mentioned as due by Confederate
States, they have suspended a large claim, previously charged to the
State of North Carolina, for transportation from April 20th, 1861, to
August 20th, 1861. This amount, $42,892.08, was allowed by the Board
of Claims of North Carolina, but the Legislature refuse to pay it;
alleging that it was done for the common defense, and therefore
chargeable to the Confederacy, which declined to pay, requiring
"the certificate of some officer in the Confederate service to
prove that the transportation was for the Confederate States."
About five per cent. of our claims is also suspended for imperfect
vouchers; what has been adjusted with the exception of the amount
received and mentioned above, it declined to pay except in the bonds
of the Confederacy, which I did not feel authorized to take. We work
for the government at half price; it refuses to pay a portion of our
claims although acknowledged just; it suspends others, and it should
pay us in money or notes whatever is due. The State of North Carolina
has paid us nothing.
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The report of the Superintendent shows particularly the
vast amount of business done during the year; the number of passengers
shoes a very large increase. The whole number of passengers, exclusive
of soldiers, has
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| been |
117,325 |
| No. of Soldiers |
87,057 |
| Whole number of passengers carried |
204,382 |
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In the transportation of freight there has never been so
much done before; and this increase, independently of army stores and
munitions of war, has arisen from the natural production of the
country. For, by inspection of the tables it will be seen that the
increase has arisen from outgoing freights; while these have largely
increased, the incoming freights have greatly decreased. No country
under the blessings of God has ever yielded more bountifully than has
ours during the past year. Never has the husbandman been so rewarded
for his labors; his garners have been burdened with grain; and his
barns and his yards have been crowded with forage. The local business
of the Road has kept our warehouses crowded with every species of
freight seeking a market; and as fast as a car load was taken out
there were three, or four, or more waiting to be put in.
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| Earnings from private freight have been |
$148,863.00 |
| Government freight |
123,535.40 |
| Total freight earnings |
$272,398.40 |
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And this vast amount of transportation both of passengers
and freight has been done with the same equipment which has been on
the road from its completion in 1856 to the present time, with the
exception of the cars built by the road since then, and of one engine
and about thirty cars rented from the Manassas Gap Rail Road Company,
but which did not come on the Road until May.
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Road
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The Road is in much better condition than it was at this
time last year. It was well and thoroughly ditched from Concord East
last fall, and had not this important work been done our heavy trains
of passengers and freight could not possibly have been carried over it
during the last winter. From Concord West the road now needs the
performance of similar work. But from the very limited equipment of
the road and the great desire to accommodate the public in the
transportation of freight, we had no engine to spare for the purpose;
it should be done however before the winter rains set in.
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There has been put in during the year 93,082 sills, and
as many more are needed to place the superstructure in a sound
condition. The iron rails of course are deteriorated by wear, but they
have borne the increased transportation remarkably well; and by using
the good rails now in the side tracks this indispensable material will
still last for years.
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Shops
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The Shops have been our salvation, and the wisdom of
those who planned them on the scale upon which they were built is now
demonstrated. The report of the Master Machinist shows the amount of
new work done as well as the repairs. Owing to the great difficulty of
obtaining supplies, there has not been as much new work done as there
would have been under more favorable circumstances, and of late the
cost of building and repairing has been greatly increased. But it
affords me pleasure to state that this department, under the direction
of your Master Machinist, Mr. E. H. Marsh, has been managed with
energy, and the good condition of your rolling stock is evidence of
his mechanical skill.
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The office of Secretary is now filled by Mr. John H.
Bryan, jr., of Raleigh, a thorough accountant and accurate
book-keeper. Owing to the gross negligence or the total inability of
your former Secretary, the books of this great work were filled with
errors and misstatements, and I may safely say that this company has
lost thousands of dollars by not having a competent officer in charge
of them during the last two or three years. There is an over issue of
stock amounting to about fifty-nine shares, and the patience and
assiduity of your present Secretary, and his assistant, Mr. John R.
London, has resulted already in ascertaining and correcting errors
against the interests of this company to a very great amount.
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It may still be said, as reported by your Committee of
Finance in 1858, "that they could no longer refrain from calling
the attention of the company to the entire want of system in keeping
the books of the company. **** Book-keeping has been long ago reduced
to a perfect system, simple and easy to be understood, and there is
nothing in the principle of keeping the books of this corporation
which varies from that of others differing from it in character, or
any well regulated mercantile establishment; and what would be said of
either corporation or merchant when called upon, who would ask for
more time to exhibit their financial condition, than would be
necessary to make a copy of their general balance sheet."
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Mr. Bryan did not enter the office until October, and
though he saw at once the great deficiency in the manner of keeping
the books, he did not feel authorized to change the entire course, but
only altered it sufficient to make his own work correct. But at the
close of the fiscal year, May 31st, under my instructions a new system
has been marked out for the future, and henceforth the true condition
of your affairs, both debits and credits, your earnings and your
expenses, shall be shown correctly.
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Telegraph
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This important adjunct to the working of your Road will
soon be completed. A contract was made with the Southern Express
Company, wherein we bound ourselves to erect and maintain a line of
naked poles, and they agree to put up the wire and maintain offices at
Charlotte, Salisbury, High Point, Greensboro', Hillsboro' and Raleigh,
at their own expense, that at the Shops to be borne by this Company.
We also have the liberty of opening offices at other points on the
road at our expense. Our messages to be sent free at all times and
from all stations. We have determined to have offices also at Concord,
Lexington and Durham's; thereby having a telegraph station at least
every twenty miles upon the road between Raleigh and Charlotte. It is
to be hoped that a similar agreement may be made with the Southern
Telegraph Company owning the line from Raleigh to Goldsboro', so that
we may have an office at Smithfield.
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The saving in time in working the wood and gravel trains
one year will more than pay the whole expense of the telegraph; and
judging from the experience of Railroad men, as published in the
reports of other and leading roads, the advantage in dispatch of
trains, and their safety, will be incalculable. It is believed that a
single track, connected by telegraph at each station, is of more value
both in safety and dispatch, than a double track without it.
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Your former President, the lamented C. F. Fisher, called
attention to the necessity of the Road owning its own hands. I would
renew that recommendation, and urge upon the stockholders the
propriety at least of buying enough hands to man their engines and
trains at once; and from time to time making further additions, until
we own a sufficient force to work the whole road effectively. And now
is a favorable time to make such purchases. At the commencement of
each year there is always great difficulty in procuring hands; and
there is no time when their services are more needed to keep the road
in safe condition.
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Your hands for this year were hired upon very
advantageous terms; the whole number is two hundred and eighty-three,
at an average cost of ninety dollars, and a total cost of $25,675.00;
being a saving of about $15,000.00 in this one great item of
expense.
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Buildings At Shops
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I would call your attention to the fact that owing to the
greatly increased transportation on the road, and to the impossibility
of procuring more engines, the necessity arose of employing more
workmen in the Repair Shops, to keep up those we had. But we have had
great difficulty in procuring machinists, for the reason that we had
not a sufficiency of houses for them to live in; neither could they
obtain board sufficiently near the Shops. The necessity therefore
arises for the stockholders to rescind the order heretofore made by
them, forbidding the erection of any more buildings, or to permit
leases of lots to be made with such restrictions as may be deemed
necessary, whereby individuals may undertake that expense.
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Wood And Water
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Great difficulty will be experienced in procuring
supplies of these absolute necessities. On the Eastern division no
fear is felt for a want of the former, but the great drain of the
labor of the country caused by the war, necessary to procure it in the
Western division, is already severely felt, and it may be requisite
for the Company to buy wood land and procure it with our own labor.
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Already has the water failed us from Raleigh to Mebane's;
every well between those stations has been repeatedly pumped dry, so
great has been the demand caused by our numerous and heavy trains. We
cannot dig new wells for we cannot obtain the powder necessary to
blast the rock; and other shifts must be resorted to. pump has
been put in the creek at Morrisville, and a tank will be needed. At
Brassfield's we have put up the tank formerly at Graham. At Hillsboro'
a never failing branch runs through the west end of the side track,
with sufficient fall to put in a hydraulic ram; the lumber has been
ordered to build a tank for that place.
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These additional sources of supply will enable us to get
through the summer without detention, it is hoped.
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Difficulties
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In former years, supplies of all kinds could easily be
procured; though often hard pressed for money, yet our credit was
good, and an order from this company always obtained the articles
desired. But now neither love nor money will enable you to obtain the
necessary material requisite for the repairs of your engines and cars,
much less to build new ones. When this war, which is now waged with
barbaric severity, for the purpose of despoiling you of your every
property, and the destruction of your liberty and your honor, was
forced upon you, the equipment of the road was not sufficient to do
its business. You needed several more engines and a number of cars,
both for passengers and freight. Every exertion has been made to
procure them; but we could neither buy nor rent, until the misfortunes
of other roads gave us an opportunity in May, to procure a partial
equipment.
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The avalanche of troops, passengers and freights have
been carried with your old equipment; and the tables will show that
the work has been immense. Your road has been of incalculable
advantage to the Confederacy. Both the Confederate and State
authorities have reason to congratulate themselves that in it they
have had a powerful auxiliary for their defense. Nevertheless, while
doing this heavy business, we have not been able to satisfy the
public. The government officials, at many points on the road, have
been clamorous for transporting their material and supplies, each one
demanding that his own should be attended to immediately, the general
government, at Richmond, demanding of us immediate transportation for
all public freight in preference to that of private persons, the State
authorities, at Raleigh, demanding the immediate transportation of
provision and forage and lumber for Camp Mangum, the General in
command at Goldsboro', needing our engines and cars to transport his
troops even on other roads, the clamors of speculators to get off
their freight, and the urgent, but respectful application of private
persons to bring them stores for the support of their families, have
caused the officers of this road to be up and doing, to be instant in
season and out of season, to spend sleepless nights and anxious days.
And I am glad to say that their efforts have been nobly seconded by
all the employees of the company.
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Accidents
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And while every exertion has been made to do our utmost
for the public accommodation, as is always the case on every road,
there have been a number of accidents. But these facts ought to be
taken into consideration, that our road is twice as long as four of
our connecting roads, and sixty miles longer than the other, and that
we have run double daily trains, while they have run but one, and that
therefore we have four times the liability that others have; and I
have no doubt that each of the others has been as unfortunate as
ourselves in proportion to length of road.
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Our passenger and freight trains have frequently been off
the track, caused by the breaking of axles and wheels; only twice have
they been off by reason of bad track, and then but little damage was
done. When it is remembered how much rain has fallen this winter and
spring, how our engines and cars have run day after day, and night
after night, with little or no rest, there is cause for congratulation
that no more injury has been done.
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Loss And Damage
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From the insecure condition of our cars, caused by
dilapidation, and injury from soldiers knocking off the boards, and
the impossibility of procuring locks, a large amount of sugar, bacon,
molasses, whiskey, &c., has been stolen from the cars at the
stations where they were loaded, or remained over during the night.
These depredations have not been confined to any particular locality,
but complaints come from every point. Charlotte, Shops, and Raleigh
have been the principal sufferers, although good and reliable watchmen
are kept at each.
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It gives me pleasure to add my testimony to that of your
former President, in assuring this company that they have in Mr.
Wilkes a Superintendent who is a thorough Railroad man, one who has
made it the business of his life; that he is faithful, energetic,
competent, and of untiring industry, he is ever watchful of your
interest, and to him in a great measure is due the credit of your past
year's success.
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On the 7th of February last, as is known to the
stockholders, your President, Mr. Paul C. Cameron, resigned his
office. It would be an act of great injustice to close this report
without acknowledging the valuable services which he has rendered to
this Company, both in his private and official capacity. He was one of
its very first friends and projectors. He has labored with his
characteristic energy in obtaining the stock to secure the charter; in
sustaining it by his influence and his private credit during its days
of trial, and its hours of darkness. And though your President but a
few months, laboring under great disadvantage, having no secretary to
write up the books, and no source of obtaining any information as to
the affairs of the company, yet by his industry and ability he has
systematized the whole operations of your road, and marked out a broad
way, which it will be well for those to pursue who succeed him. And it
is but proper to record that his resignation was accepted under the
regret and remonstrance of every member of the Board.
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Upon his resignation of the Presidency, the Directors
selected not only the youngest man, but also the youngest member of
their Board for this honorable position. He had no experience in
Railroad affairs, and could bring to the office only a willingness to
work, and a determination to do his duty, guided by the best
information, and aided by the best counsels he could obtain. No doubt
many errors have been committed, but he has the proud satisfaction of
knowing that he has, to the best of his ability, faithfully discharged
his duty; and his every effort has been to do what he thought would
promote the interest of the State and the Stockholders.
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Your Obedient Servant,
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Thomas Webb
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