NP, WD 2/5/1862

From the Western Democrat (Charlotte, N.C.)
February 5, 1862
Charlotte & S. C. Railroad   {Charlotte & South Carolina RR}
   The Annual Meeting of the Charlotte & S. C. Railroad Company will be held in Columbia on  Wednesday. The President of the Road has kindly furnished us a copy of his annual Report in advance, which we insert below, and from which it will be learned that the Road is in good and prosperous condition:
To the Stockholders of the C. & S. C. R. R. Co.:
   Your President and Directors would respectfully submit the Fourteenth Annual Report of the Company ending with the 31st December, 1861.
The earnings from all sources $293,616.80
The expenses for same 100,488.82
Leaving a nett income of $193,127.98
   Of this sum $20,000 are due and payable in the stock of the Atlantic, Tenn. & Ohio Railroad Company.
   The Road has done much transportation of passengers and freights at comparatively low rates, and while its earnings are not greatly less than those of last year, the proportion of nett increase is greater than it ever has been. The expenses amount to less than 35 per centum on the gross receipts.
   The business of the Road has been conducted without a serious accident during the year. The Engines, Cars, and other property of the Company, are generally in a sound and healthy condition. The Engines have never been generally in so good order.
   Notwithstanding the large sum advanced in aid of the A., T. & O. Railroad, and the $32,000 of Bonds in your Treasury, the Company can readily meet all of its obligations maturing on the 1sr January, 1862, including the redemption of $25,000 of its Bonds.
   The apparently large amount in the Agent's hands at Charlotte embraces the funds left with him to pay the January dividends, interest and Bonds maturing then, as well as the unpaid charges on freight awaiting shipment North.
   After paying the subscription of the Company to the stock of the A., T. & O. R. R. Co., the balance due will be about $95,000 instead of $116,289.64 as appears in the Treasurer's account current.
   The Road of the A. T. & O. R. R. company has been completed, during the year, 36 miles, and is expected to reach Statesville, a distance of 45 1/2  miles, early in June at an entire cost of not exceeding $400,000. This is less than the original estimate of the Engineer. The prospects of this Road, when finished, for a profitable business are very flattering.
   After discharging all the annual liabilities of your Co., including interest, dividends, Bonds, and subscription to the A. T. & O. R. R. the excess of nett earnings, carried to surplus fund, is about forty-five thousand dollars.
Respectfully submitted,
Wm. Johnston, Pres't