AR, R&P 10/1/1864 P

Annual Report of the Richmond & Petersburg RR
as of October 1, 1864,
President's Report
 
Annual Report
 
   The fiscal year of the Company having, at your last annual meeting, been changed so as to terminate on the 30th of September of each year, the Board of Directors respectfully submit to the Stockholder a report of the affairs of the Company for the past six months. The report of the Superintendent and accompanying tables exhibit in detail the operations of the road during the above named period.
   The receipts have been $461,758.92, while the expenses have amounted to $314,197.66. From various causes the settlement of the accounts of the Company for government service has been delayed. In order, therefore, to place before you a more correct exhibit of the business of the road, the Superintendent has also prepared a statement of the actual earnings and expenses, which shows a very gratifying return, when it is considered that during the greater portion of the past six months the enemy have had possession of the Petersburg Railroad, and thus interrupted all through transportation; and that for the better part of May and nearly a week in June, our trains were suspended in consequence of the destruction of the track at several points between Chester and Swift Creek.
   There has been no change in the funded debt of the Company, within the period embraced by this report. The whole amount is $144,000.
   The great increase in the cost of labor and supplies has compelled the Board again, very unwillingly, to make a further advance in the rates of freight for the transportation of coal, in accordance with our contract with the Clover Hill Railroad Company.
   The report of the Committee of Examination and of the Superintendent will explain the condition of the roadway and rolling stock. It is very satisfactory to find that after nearly four years of hard usage and the many embarrassments attending the management of railroads, that ours is still in such a state of efficiency. this furnishes the best evidence of the faithful manner in which the officer and employees of the Company have performed their duty.
   Signed in behalf of the Board of Directors.
Charles Ellis
President
Richmond, Nov. 29, 1864
 
N. B. -- The Superintendent's report and all the accompanying tables were in manuscript at the time of the great fire on the 3d of April, 1865, and were burned. The foregoing copy of the President's report was by accident secured.

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