| Annual Report of the Raleigh & Gaston RR |
| as of June 1, 1861, |
| Finance Committee's Report |
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| Finance Committee's Report |
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| The Committee of Finance and
inspection submit the following report: |
| They have examined the road
and have never seen the track-way, bridges, &c., in a better or
firmer condition than at present. A large number of ties have been put
in the track since the last inspection, and there are many along the
line of the road which can easily be laid before the winter, and
which, with some additional ditching now in contemplation, will put
the road in a fine condition to pass the winter. |
| Owing to the diminution of
freight, from obvious causes, hands can be, and have been detailed
from many of the depots for the ditching service, thus obviating the
necessity which has heretofore existed of hiring an extra force for
that purpose. |
| Great additions have been
made to the permanent value of the road by the erection of commodious
warehouses and offices at Kittrell's, Henderson and Franklin; the
first of which is completed, and the others nearly so. The ware-houses
far exceed the value of the old ones, which have been fitted up for
lime, guano, &c.) and adds to the capital wealth of the company.
The other ware-houses are in good repair. |
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There has been a temporary suspension of the work on the
shops, offices and sheds in consequence of the general derangement of
business growing out our national troubles, but for which these works
would have been much advanced, without at all interfering with regular
dividends.
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Considering the embarrassments that have pervaded every
branch of industry, cutting off almost entirely all income from
freights, the affairs of the company have been economically conducted
and remarkably well managed. No accident worthy of remark has occurred,
and your Committee take pleasure in bearing testimony to the faithful
manner in which the Officers, Agents, and subordinates of the road have
discharges their duties. All seem anxious to promote the prosperity of
the Company and are entitled to its thanks.
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| The rolling stock of the
Company, so far as your Committee are able to judge, is in good
condition. |
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Your Committee have examined the books of the Treasurer
and believe them to be correct. His report will exhibit the condition
of the finances of the Company for the year, ending May 31st, and
while it shows a decrease in the receipts for the last year, as
compared with the year previous, your Committee are satisfied that the
receipts would have far exceeded those of any previous year but for
the troubles alluded to. As an evidence of this, the tabular statement
prepared from the Treasurer's books, exhibited herewith, will show
that the six months ending Nov., 30th, 1860, exhibit an increase of
$11,935.42, over the corresponding six months of the previous year;
thus making it manifest that the regular increase that has marked the
annual progress of the Road since it reconstruction, with the single
exception of the year 1855-6, has been interrupted by temporary
causes.
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Respectfully submitted.
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S. D. Beeves
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Jos. J. Davis
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Com.
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July 4, 1861
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