| From the Richmond Sentinel |
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| November 19, 1863 |
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| Virginia Central Railroad |
| We have before us a copy of the Reports of
the President, Treasurer, Superintendent and Examining Committee of
the Virginia Central Railroad, which have been printed in order to be
laid before the Stockholders at their annual meeting on the 26th inst. |
| This road is operated under great and
manifest disadvantages, owing to the comparative nearness of the
enemy, and frequent raids which it has in fact suffered, resulting in
the destruction of bridges, depots, &c. In addition to this, the
enormous pressure which the wants of the military service have made
upon the transportation of the road, together with the great
difficulty of obtaining labor and material on the very theatre of war,
has denied the opportunity of many needed repairs and equipments, and
greatly increased the difficulties of the Superintendent. That so much
has been done under so many difficulties, is a matter of
congratulation. |
| The Central Road is chartered to extend
from Richmond to Covington. The section of ten miles between Covington
and Jackson's River, has never been completed, and the work has been
suspended since the war. Of the remaining 195 miles, a section of 17
miles between Mechum's and Waynesborough, (including the Blue Ridge
Tunnel,) was built by the State. |
| The total cost to the company, of the road
and equipments, up to the present time, is $5,941,206.90. The present
funded debt of the company, including the amount due to the
Commonwealth, and deducting the investments in the sinking fund, is
$1,842,194.22. |
| The floating debt and unclaimed dividends
due by the company, amount to $397,226.22. The debts due to the
company and cash on hand, make $792,867.51. The balance of total
liabilities over assets amounts, therefore, to $946,552.92. |
| The earnings of the road during the last
year were $1,522,967.77, and the expenses $754,683.18; leaving a net
revenue of $768,283.59. The capital stock of the company, as
authorized by the charter, is $3,400,000. |
| We have gathered these items from the
reports of the officers, and doubt not it will be pleasing even to the
general reader, to see with what a large degree of prosperity the
managers of the road have been able to conduct its operations amid
their multiple difficulties. |
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