| From the Floridian & Journal (Tallahassee, Fla.) |
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| July 26, 1862 |
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| Pensacola & Geo. Railroad Co. |
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The Report of the President and Directors of the
Pensacola R. R. Co., with the Minutes of the proceedings of the
Stockholders, at the meeting held in the City of Tallahassee, May 5,
1862, has been published.
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The old Directors were unanimously re-elected viz: Edward
Houston, Wm. Bailey, Smith Simkins, Ellias K. Blackburn, William P.
Mosley, G. M. T. Brinson, Green A. Chaires, D. W. Gwynn and Isaac R.
Harris, Esqs.
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By the President's Report it appears that during the
previous year the nett earnings of the P. and G. R. R. were
$26,426.22. On the Tallahassee Railroad, the excess of expenditures
over earnings was $1,796.26. The nett earnings of the two Roads
(24,629.27) is stated to be sufficient meet the interest on the bonded
debt due July 1st. The result is gratifying, taking into consideration
the almost entire suspension of the export and import trade in
consequence of the blockade.
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The bonded debt of the Company is $550,950.
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The grading intended to connect this Road with the
Savannah, Albany & Gulf R. R. of Georgia is completed, the cross
ties nearly all furnished, and some of the track laid. The track
laying westward had reached to within seven and a half miles of
Quincy, and was being pushed forward to completion.
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D. G. ???, Land Agent of the Company, ????? into the
Treasury $17,1?6.53. Collections have not progressed and sales have
been small owing to the exigencies of the times.
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The right to make a connection with the Georgia Railroad,
contested by the Atlantic & Gulf R. R. has been established by the
Supreme Court of the States.
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