| From the Fayetteville (N. C.) Observer |
| |
| July 16, 1863 |
| |
| N. C. Railroad |
| We are favored with the Report of the
President, Thos. Webb, Esq., made to the late annual meeting. The
receipts of the year ending May 31st were: |
| Private passengers |
$704,011 |
|
| Gov't passengers |
278,062 |
982,063 |
| Private freight |
315,204 |
|
| Gov't
" |
194,297 |
|
| Express Co. |
124,921 |
684,422 |
| Mails, &c. |
|
33,440 |
| Total earnings |
|
1,649,935 |
| Expenses |
|
631,192 |
| Net earnings |
|
1,018,743 |
|
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The earnings exceed those of the previous year $858,871.
And the net earnings are $668,099 greater than 1862.
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Two dividends, amounting to 18 per cent $720,000, have
been declared, of which the State receives, towards paying off its
debt, $540,000.
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313,515 passengers have been carried on the road, without
an accident. The road is in better order than at the commencement of
the war.
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The Company owes a debt of$350,000, due March 1st, 1867,
to pay which it has already provided a sinking fund of $213,768,
invested in State and Confederate bonds, and will regularly add to it
so as to provide for payment of the debt in full when due, or sooner
if the creditors would part with their bonds.
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To say nothing of the incalculable advantage of this
great road to the State, it is well to reflect what would have been
the condition of the Confederacy in the present war if it had not been
built.
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