| Annual Report of the Raleigh & Gaston RR |
| as of June 1, 1865, |
| President's Report |
| |
| President's Report |
| Office of the Raleigh & Gaston R. R.
Co. |
| Raleigh, N. C., July 20th, 1865 |
| |
| To the
Stockholders of the Raleigh & Gaston Railroad Company |
| |
|
The Board takes pleasure in submitting their 15th Annual
Report, showing the condition and operations of the Company for the last
fiscal year.
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| By reference to the
Treasurer's Report, it will be seen that for the fiscal year
ending May 31st, 1865, the receipts have been from |
| Freights |
$725,262.75 |
|
| Passengers |
621,505.94 |
$1,346,768.49 |
| Sundries, &c. |
|
20,916.35 |
| Current receipts |
|
$1,367,684.84 |
| Current expenditures for the year |
|
878,484.10 |
| Excess of receipts |
|
$489,200.74 |
| Balance brought over from last year |
$584,127.81 |
|
| Less for Aug. 1864, Dividend, $225,000; paid stock
in the Chatham R. R. Co., 200,000; paid Bonds to State of N.
Carolina, $30,000 |
455,000.00 |
129,127.81 |
| Amount |
|
$618,328.55 |
| Charged up to profit and loss: |
|
|
| C. S. currency on hand |
$417,009.08 |
|
| " unpaid account |
194,417.76 |
|
| Sundry Confederate baln's. |
1,250.02 |
612,676.86 |
| Amount on hand June 1, 1865 |
|
$5,651.69 |
| This balance consists of |
|
|
| Cash -- greenbacks, bank notes and specie |
$2,205.34 |
|
| Southern Express Co., due in good currency |
243.35 |
|
| Agents at stations, in good currency |
1,043.49 |
|
| Bills Receivable (supposed good) |
2,159.51 |
5,651.69 |
|
|
The loss charged up for Confederate currency, &c., on
hand, at the close of the war, appears to be large, and would have
been reduced by the payment of a dividend in January last, but it was
found impossible to make collections at Richmond in time.
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The bridges at Cedar Creed and Gaston were burned by
Confederate authority, the former by one Captain Webb, commanding a
battery of light artillery, the latter by Captain White, of Gen.
Baker's staff. The burning of these bridges will prove a severe and
very heavy loss to the Company. A temporary tressel has been erected
at Cedar Creek by the U. S. military authorities, which, by close
attention, can be made safe for eight or ten months, perhaps longer.
In the meantime, preparations should be made for rebuilding the
bridge.
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We would recommend, in the present condition of the
country and state of our finances, that the bridge at Gaston should
not be rebuilt; and that application be made to the Legislature to
amend our charter, discontinuing said bridge. The bridge at Weldon
will be amply sufficient to meet the wants of all the Companies.
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Our machinery and rolling stock, with the necessary repairs, will
be sufficient to meet all the wants or demands on the Company for the next two
years. A portion of our stock, with the shops, being at present in the
possession and use of the U. S. military departments, if not used up by the
military departments, we have a large stock of material on hand for repairs,
sufficient to meet the requirements of the Company for some time. The road-bed
is in a smooth and good condition. The bridges are safe. Depots complete, with
one exception -- Huntsville -- that was burned by Wheeler's Cavalry.
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Our losses have been small compared with those of other
Roads. We congratulate you on the good condition, generally, of the
property and prospects of the Company, and have reason to hope and
believe that the receipts of the Company will be ample to meet all
necessary repairs and expenses, and in a short time restore the Road
to its former good condition.
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For more detailed statement of our affairs, we refer you
to the tables, and the annexed statement of the Treasurer.
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Wm. J. Hawkins
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President
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