| Annual Report of the Richmond &
Danville RR |
| as of October 1, 1864, |
| Committee of Examination's Report |
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| Report of Committee |
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| The committee appointed by the
last annual meeting of Stockholders to investigate the condition and affairs of the
company, and report to the next
annual meeting have discharged the duty imposed on them, and
respectfully submit the following report: |
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Commercial difficulties growing out
of our struggle for independence had rendered it well nigh
impossible to procure iron for railroad purposes at any price, and in
consequence of these difficulties, the road was fast becoming in a
very bad condition for the want of heavy iron, which had been
recommended to be substituted for the flat rail along the line of the
road, but on the 23d of June, 1864, a large column of Yankee cavalry,
under Gen. Wilson, struck the road at fifty-two (52) mile post, one
and a half miles east of the Junction, and passing westward along the
road, burnt Green Bay, Meherrin, Keysville, Drake's Branch,
Mossingford and Roanoke Depots, about twenty (20) miles of slab track,
and such tresseling as they passed on the route. The Government
furnished heavy rail for relaying the burnt track, and by the
extraordinary exertions of the Superintendent and other Officers of
the road, it was opened for business within twenty-three days after it
was struck. That portion of the road was greatly improved, and is now
in better condition than it ever was, so what seemed at the time to be
a great misfortune to the road, proved to be a great benefit. The flat
bar was always unfit for the heavy business of the road. The entire
track from Richmond to Danville is now laid with heavy rail, with the
exception of about eleven miles. Arrangements are now being made to
relay this portion of the road with heavy rail, which will be
completed in a short time. The Piedmont road was finished on the 1st
day of June, 1864. Your committee did not investigate the affairs of
that company, as not being strictly within the scope of their duty,
and besides, in consequence of the great demand for engines to carry
the heavy freight and travel, that road was unable to furnish a
special train at the time your committee examined the road from
Danville to Richmond.
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Your committee will content themselves with referring to
the exhibit which will be made of that subject by the President in his
report, and merely express the opinion, that the interest of this
company has been greatly advanced by the completion of that road.
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Depots, &c.
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There has been no change worthy of note in the company's
depots, either at Richmond or along the line of the road since our
last report, except that those that were burnt by the Yankee raiders
already mentioned, and the depots at Coalfield, Powhatan and Chula,
which were also destroyed by the raiders on the 13th of May, having
been in most cases replaced with temporary structures sufficient for
the business. The energy with which the damage to the road has been
repaired reflects great credit upon your accomplished Superintendent
and his assistants. The other buildings are generally in good order.
Some of the freight houses need repairs, but your committee deem it
unnecessary to trouble the Stockholders with any suggestions on that
subject, as they are satisfied that the Superintendent will attend to
all such matters as speedily as possible. The private depots at Wolf
Trap and Jennings' Ordinary, are very much out of order. Wolf Trap
freight house leaks badly and ought to be repaired immediately. the
house erected for the Agent is also in a very bad condition, and unfit
in its present condition for the accommodation of the family of the
Agent.
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There seems to have been some understanding, that the
planters and formers in the neighborhood would keep up this depot at
their own expense, all the buildings at that depot were erected in
that way, and with a little repair would make them valuable, and your
committee are informed that the owners of the property are willing to
donate it to the road. Your committee would therefore recommend that
it be accepted, and that the depot be established as a regular depot
of the company, and that the buildings be put in thorough repair. It
is now a depot of great importance, and a large amount of produce is
shipped from that point. This course ought to be pursued, or the depot
ought to be discontinued, as your committee is of the opinion that the
company is responsible for all freight received at that place. The
company keeps an agent there, who receives and receipts for freight in
the name of the road.
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Books and Accounts
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The mode of keeping the books and accounts of the company
is the same which has prevailed for some years, and your
committee have no alterations to suggest.
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The books at Richmond and along the lines continue to be
kept with neatness, and your committee think with accuracy. It would
have required a great deal of time to have examined all the
calculations and additions, &c., but your committee did make
sundry calculations and additions, and find these books and accounts,
so far as they examined, correct. Checks are provided, so that if the
depot agents are not correct in their calculations and additions, it
will be detected at Richmond.
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Work Shops
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The workshops of the company were visited, and examined
by your committee. We found them both at Richmond and Danville in good
condition. Extensive and valuable improvements have been made in the
shops at Danville since the last report. They are well conducted and
in a prosperous condition. Your committee would recommend the erection
of comfortable houses for the accommodation of the families of the
employees of the company. It is very difficult to get good machinists
to remain at the shops at Danville, without furnishing accommodations
for their families.
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Telegraph
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This institution is regarded by your committee so
indispensable to the safe and satisfactory running of the road. The
cost of material used for working the line has very much increased,
and the revenue is a little more than is required to meet the ordinary
expenses.
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| The gross earnings for the past twelve months
amounted to |
$26,565.00 |
| Expenses for working |
25,608.18 |
| Showing nett earnings |
956.82 |
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The destruction of the line, by the raid of the enemy,
increased the expenditures during the year $2,087.00, making the total
expenses $27,695.18, showing a loss after deducting nett earnings of
$956.82 of $1,130.18. Your committee are of opinion that it would be
judicious to keep up the line, if no revenue was derived from it. The
offices are established at most of the depots, and in most cases the
agent acts as the operator. Your committee is of opinion that an
office ought to be regularly kept at each depot.
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Revenue of the Road
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| The gross earnings of the road for the last
fiscal year, amounts to |
$3,261,628.96 |
| The working expenses of the last fiscal year,
amounts to |
2,344,406.86 |
| Showing nett earnings |
$917,222.10 |
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Financial condition of the Road
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| Balance unpaid of extended bonds |
$30,500.00 |
| Debt guaranteed by the State, payable 1875 |
200,000.00 |
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Debt of $600,000, loaned by the State to the Company upon
condition of the payment semi-annually of $21,000, which is 7 per
cent. per annum upon the principal for a period of nearly thirty
years, to extinguish the entire debt. This obligation has been
promptly met for more than eleven years, and thus more than one-third
of the debt has been paid.
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A debt is due the Confederate States for labor and
material furnished in repairing and reconstructing the portion of the
road destroyed by the enemy, the amount of which has not been
ascertained.
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Bonds of the Company amounting to $816,000.00 were issued
to raise funds to complete the Piedmont Road, which were sold at a
premium, and the Company realized $1,680,047.51 for these bonds of
$816,000.00. These bonds are payable at various periods of time,
averaging from nine to eleven years. The Company holds stock in the
Piedmont Company of $1,484,000.00. The cost of constructing the
Piedmont Road was about $2,300,000.00. All the road is owned by this
Company except 160 shares or $16,000 in stock. The Company, however,
are indebted for most of the iron to construct the road, part of which
is to be returned in kind after the war, and the balance to be paid
for at the cost to the Government. Thus the Company is the owner of
property costing about $2,300,000.00 upon a debt incurred of
$816,000.00
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The receipts upon the Piedmont Road for the single month
of October amounted to $271,000.00, and about a half million for the
last two months.
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As before stated, your committee did not examine this
road, but they have conferred with a distinguished Railroad
Contractor, Mr. Robert Harvey, who had no connection with building it,
and he testifies that he has carefully examined the road within six
weeks, and the whole work is well done, and he regards the road in its
entire construction and finish equal to, if not superior to any in the
Confederacy.
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Your committee are of opinion that the condition of the
entire road from Richmond to Danville, with the exception of the
eleven miles of slab track referred to, is in a better condition than
it ever was. Great improvements have been made for the supply of
water; two additional wells have been opened, a large number of pumps,
and many water tanks, have been erected within the last twelve months,
so as to insure the supply of water. Arrangements have been made by
the Company to keep up a supply of wood with the means of the Company
without relying upon contractors. Your committee are satisfied that
the Company has been much crippled in their operations, both in
working the road and buying supplies, by the Government no allowing a
sufficient number of men, and not paying over the amount due the road
to enable them to buy supplies. The course of the war has made this
road the most important in the Confederacy. Now, almost the entire
transportation of Quartermaster's and Commissary stores are supplied
by this road, and we think every liberality ought to be extended to it
by the Government, both in men and means, to enable it to meet
promptly the wants of the army.
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It is with much regret that your committee report that
your worthy, respected and efficient President, Lewis E. Harvie, in
the faithful and energetic discharge of his duties, on the 1st day of
October, met with a most serious and painful accident, since which
time he has been unable to attend to the duties of his office. By the
request of the Directors, John R. Edmunds, Esq., undertook to act as
President pro. tem., and it is with great satisfaction that your
committee report, that with extraordinary ability and efficiency, he
has discharged the duties of the office from that time to the present,
and from the universal testimony of all connected with this road, he
has made a most efficient and valuable officer. Neglecting his own
large private interests, he has devoted his entire time and energy to
the interests of the Company. And your committee earnestly recommend
the Stockholders to endorse the action of the Directors and request
Mr. Edmunds to continue the management of this road. The existence of
the army of General Lee depends upon the efficient management of this
road. It is necessary to have at its head a man of energy, large
experience, and superior business talents, all of which qualifications
we think Mr. Edmunds possesses in an eminent degree.
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` In conclusion, your committee would state that the
officers and agents of the Company have displayed, in the management
of its affairs, an active energy, and they congratulate the
Stockholders on the results of their labors.
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All of which is respectfully submitted.
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Elisha Barksdale, J.
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G. T. Pace
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Committee, December 14th, 1864
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